The latest report by IMARC Group, titled “India Foam Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the India foam market reached a value of US$ 7.17 Billion in 2021. Foam is a synthetic polymer that is created by encapsulating bubbles of gas. It is manufactured with various chemical resins including, polyurethane, polystyrene, phenolic, and polyvinyl chloride. Foam is non-toxic and hypoallergenic in nature and does not degrade over a long period of time. It is used to protect materials against abrasions, temperature, moisture, impact, and corrosion. It also offers insulation as it separates the material from the rest of the external environment. Foam offers contact time on a soiled surface to allow the wetting agents, detergents and degreasers enough time to do their jobs. As a result, foam finds application across automotive, packaging, mining and manufacturing, construction, and electronics industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Foam Market Trends:
The market is primarily driven by the significant growth of the furnishing sector. Foams are utilized in home furnishing products, such as foam-based mattresses, pillowcases, and bed linens, to provide comfort through even distribution of pressure and body weight. Nowadays, extensive investments in new infrastructure development, new housing projects, and renovation of non-residential buildings are fueling the growth of the India foam market. In addition to this, the growing popularity of online shopping among individuals is also increasing the demand for packaging material made of foam across the country. Besides this, the use of foam in medical device packaging, orthopedic soft goods, and medical components are facilitating the market growth. Furthermore, technological innovations are introducing bio-based polyols that reduce carbon emissions into the environment, thereby propelling the demand for foams across various end-use industries. Looking forward, IMARC Group expects the market to reach a value of US$ 9.68 Billion by 2027, exhibiting a CAGR of 5.0% during the forecast period (2022-2027).
- Based on the category, the market has been segmented into flexible and rigid foams.
- On the basis of the type, the market has been classified into polyurethane, polystyrene, polyolefin, phenolic, PET, and others.
- The market has been categorized based on the application into furniture, automotive, building and construction, apparels, packaging, appliances and others.
- Region-wise, the market has been divided into South India, North India, West and Central India, and East and North-East India.
- The competitive landscape of the market has been examined, with some of the key players being Alpha Foam Limited, Ankit Polymers, Goldcoin Foam Private Limited, IRE-TEX Premier India Private Limited, Jumax Foam Private Limited, M.H. Polymers Private Limited, Premratan Concast Private Limited (PyareLal Group of Industries), Royal EPE Foam Private Limited, Sarva Foam Industries Private Limited, Sheela Foam Limited, and Tirupati Foam Limited.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.