The latest report by IMARC Group, titled “India Foam Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the India foam market reached a value of US$ 7.5 Billion in 2022. 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.
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$ 10.1 Billion by 2028, exhibiting a CAGR of 4.9% during the forecast period (2023-2028).
- 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.
|Base Year of the Analysis
||Category, Type, Application, Region
||South India, North India, West and Central India, East and North East-India
||Alpha Foam Ltd., Ankit Polymers, Goldcoin Foam Pvt. Ltd., IRE-TEX Premier India Pvt. Ltd., Jumax Foam Pvt Ltd, M.H. Polymers Pvt. Ltd., Premratan Concast Pvt Ltd. (PyareLal Group Of Industries), Royal EPE Foam Private Limited, Sarva Foam Industries Pvt. Ltd, Sheela Foam Limited, and Tirupati Foam Limited
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