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Saturday, 28 January 2023
The North America Foam Market Could exceed $11 Billion by 2028 – The Future of the foam industry

The North America Foam Market Could exceed $11 Billion by 2028 – The Future of the foam industry

2022-10-31

 

In the rapidly changing foam industry, the need for effective solutions for environmental challenges is paramount. The foam industry is adopting a “green” mindset from an operational as well as a supply chain perspective. As a result, the market for green foams is expected to grow at a CAGR of 17.5% from 2013 to 2028. North America is one of the fastest-growing foam markets, and the foam market in the region is expected to reach $11 billion by 2028, growing at a CAGR of 17.5% from 2013 to 2028.

North America has the potential to become the largest foam market in the world. The region is home to nearly half of the global foam production capacity, with the manufacturing and trading sectors playing a significant role. The North American market is driven by three factors—faster growth in the service industry, demographic shifts, and the socio-cultural differences.

In the rapidly changing foam industry, the need for effective solutions for environmental challenges is paramount. The foam industry is adopting a “green” mindset from an operational as well as a supply chain perspective. As a result, the market for green foams is expected to grow at a CAGR of 17.5% from 2013 to 2028. North America is one of the fastest-growing foam markets, and the foam market in the region is expected to reach $11 billion by 2028, growing at a CAGR of 17.

what is foam?
Foam is a versatile, high-quality, highly absorbent, biocompatible, and biodegradable material with many uses in engineering, industry, and architecture. It is also a strong lightweight insulating material with excellent thermal conductivity. Foam is made by heating and pouring various materials with high specific heat capacity (e.g., rubber, polyurethane, epoxy, carbon fiber) at very high temperature and pressure (e.g., >850 degrees Celsius and >50ressive bars of pressure) to create a highly ordered, homogeneous structure that exhibits great strength and resilience.1

foam market analysis
The Asia-Pacific foam market is expected to grow at a CAGR of 21.1% from 2012 to 2028, driven by strong growth in The Asia-Pacific foam market is expected to grow at a CAGR of 21.1% from 2012 to 2028, driven by strong growth in Japan and China, which together account for about two-thirds of the region’s foam market. Similarly, North America is forecast to witness strong growth of 20.2%, followed by Europe and the Middle East – Africa. Asia-Pacific and North America are the top two foam marketplaces in the world, and their combined share is expected to increase from 59.3% in 2012 to 78.9% in 2028, accounting for almost three-fourths of the global market.

Types of Foam
Foam can be divided into two broad types, intraparticle and interparticle. Intraparticle foams are made by incorporating a continuous phase (e.g., air, Keruan, X’yel, etc.) into the structure of a polymeric matrix (e.g., foamed concrete, foamed batt insulation, foamed fiberglass reinforce, etc.). Interparticle foams are made by applying forces between two regions of different phases of foam within the same structure (e.g., fiber-infused foams, composites with microparticles).

How Foam Market Is Driving the foam Industry?
The demand for green foams has been increasing worldwide, and the North American market is expected to witness strong growth from this trend. Moreover, demand for green foams is expected to grow in both emerging and developed economies, owing to the increasing popularity of environmentally friendly building products and technologies. The growing demand for green foams is expected to be met by both domestic and international productions. However, due to the large capacity of the North American market, much of the regional production is expected to be concentrated in this country.

 
 
 

North America foam market analysis
The North American foam market is expected to experience strong growth from 2013 to 2028, with a forecasted growth of 18.1%. The key factors driving the market growth are high growth in the service sector, demographic shifts, and the socio-cultural differences.

Regional and country-wise forecasts
North America has a population of about 300 million people and a GDP of almost $US100 trillion. It is the largest country by area and second-largest by population. It is bordered on the west by the Pacific Ocean, on the north by Canada, on the east by the Atlantic Ocean, and on the south by the United States.

In the next five years, the forecast for the North America foam market is for the growth potential to be about 36.0%. The market potential is estimated at $8.8 billion for the year of 2028, which is also the estimate for the entire market in 2028.

Conclusion
The foam industry is experiencing rapid growth, and the need for effective solutions for environmental challenges is paramount. The green foams are being adopted by a greater number of industries, and they are seeing more applications in residential, commercial, and industrial settings. However, there remains a need for further research on the impact of these foams on the environment. As a result, the market for green foams is likely to experience rapid growth over the next few years.

The foam industry is experiencing rapid growth, and the need for effective solutions for environmental challenges is paramount. The green foams are being adopted by a greater number of industries, and they are seeing more applications in residential, commercial, and industrial settings. However, there remains a need for further research on the impact of these foams on the environment. As a result, the market for green foams is likely to experience rapid growth over the next few years.

This report presents the global market overview of foams, including the market size and forecast by regions, as well as by product type and end user. The market overview also includes the product definition, basic market data, and detailed demographic and historical data. In addition, the market analysis includes the economic driver and restraint factors, key trends, and risk factors.

The global market for foams is expected to grow at a CAGR of 20.9% from 2013 to 2028, according to a new report from Ernst and Young. The market for green foams is expected to grow at a CAGR of 19.3% from 2013 to 2028, according to the report. These forecasts are based on the analysis of global market data and the report’s own research.

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