At 6.9% CAGR, the Europe Molded Foam Market is Projected to be Worth US$ 5,028.99 million by 2030, Says Business Market Insights

According to Business Market Insights research, the Europe molded foam market was valued at US$ 2,947.52 million in 2022 and is expected to reach US$ 5,028.99 million by 2030, registering a CAGR of 6.9% from 2022 to 2030. Growing footwear industry and focus on development of sustainable solutions are among the critical factors attributed to the Europe molded foam market expansion.

In recent years, the footwear industry has grown gradually due to rising per capita income of consumers and growing popularity of different footwear products among consumers. Also, the increasing participation of people in different sport events is creating a demand for sports accessories such as clothing, sunglasses, and sports footwear. Further, the growth of the footwear industry is fueled by factors such as the transformation of footwear from a utilitarian item to a fashion statement, increasing penetration of exclusive brand outlets, and rising online sales of footwear products. In sport and safety shoe manufacturing, polyurethane foam is an essential material in making molded insoles, footbed, and sockliners. Closed cell polyurethane is a commonly used foam to make durable midsoles for hiking boots. Open cell polyurethane foam is most often used in sports shoe making. They are also used to make tongue and collar foams. Therefore, the growing footwear industry is expected to offer lucrative opportunities for the Europe molded foam market over the coming years.

On the contrary, harmful impact of raw materials on environment hamper the growth Europe molded foam market.

Based on type, the Europe molded foam market is segmented into closed cell foam, high resilience foam, integral skins foam, memory foam, and others. The closed cell foam segment held 32.0% share of the Europe molded foam market in 2022, amassing US$ 942.09 million. It is projected to garner US$ 1,703.32 million by 2030 to expand at 7.7% CAGR during 2022-2030.

By form, the Europe molded foam market is categorized into rigid foam and flexible foam. The flexible foam segment held 54.4% share of Europe molded foam market in 2022, amassing US$ 1,603.37 million. It is projected to garner US$ 2,767.34 million by 2030 to expand at 7.1% CAGR during 2022-2030.

Based on material, the Europe molded foam market is divided into expanded polystyrene, polyurethane foam, expanded polyethylene, expanded polypropylene, and others. The polyurethane foam segment held 42.7% share of Europe molded foam market in 2022, amassing US$ 1,258.80 million. It is projected to garner US$ 2,084.87 million by 2030 to expand at 6.5% CAGR during 2022-2030.

Based on application, the Europe molded foam market is segmented into seating and furniture, automotive interior, bedding and mattresses, footwear, and others. The bedding and mattresses segment held 37.8% share of Europe molded foam market in 2022, amassing US$ 1,113.68 million. It is projected to garner US$ 2,027.11 million by 2030 to expand at 7.8% CAGR during 2022-2030.

Based on country, the Europe molded foam market is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany held 31.4% share of Europe molded foam market in 2022, amassing US$ 924.37 million. It is projected to garner US$ 1,679.47 million by 2030 to expand at 7.7% CAGR during 2022-2030.

Key players operating in the Europe molded foam market are Carpenter Co, CT Formpolster GmbH, Sheela Foam Ltd, Superlon Baltic UAB, Vita (Holdings) Ltd, and Woodbridge Foam Corp, among others.

- In June, 2023; Carpenter Co completed the acquisition of Recticel N.V.'s Engineered Foams Division, which included the former Foam Partner and Otto Bock operations.

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