July 27, 2023 06:41 ET | Source: ReportLinker ReportLinker
New York, July 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bio-Based Foam Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" - https://www.reportlinker.com/p06480233/?utm_source=GNW Global Bio-Based Foam market is anticipated to grow significantly through 2028 due to the growing demand from the E-Commerce sector. In 2021, the number of people participating in e-commerce was around 502 million in Europe. The extensive usage of bio-based foam packaging in end-use sectors, including food and beverage, healthcare, and automotive, is the outcome of a progressive global shift from synthetic to biodegradable materials. Restrictions placed on the use of petroleum-based materials in specific end-use applications are anticipated to further encourage the development of bio-based foam resulting in the growth of Global Bio-Based Foam market in the forecast period. Quickly Rise Up E-Commerce Industry Growing E-Commerce is anticipated to fuel demand for bio-based foam packaging, which has been used for packaging goods like electronics, cars, and other goods in forecast years. Over the course of the forecast period, the market for bio-based foam packaging is likely to expand due to the enormous increase in the E-Commerce sector. For instance, according to ET Prime, B2B e-commerce platform Udaan shipped over USD 1.7 Bn products in 2022. Therefore, this segment will lead the growth of Global Bio-Based Foam Market in the upcoming years. Sugarcane Will Continue to Be a Key Raw Material The collection and transportation of trash for reprocessing are complicated by the fact that foams are mostly made from frothy and bulky gasoline.As a result, demand for bio-based foam will rise. In terms of raw materials, sugarcane is a bio-based product that is majorly used to make bio-based foam and is predicted to lead the market for bio-based foam packaging. For instance, in October 2022, Braskem invested over USD 60 million to boost the production of its I’m Green biopolymer, a bioplastic made from sugarcane. Such efforts to attain carbon neutrality would increase the usage of sugarcane biopolymers in all types of foams, which will improve the outlook for the sector. Therefore, shifting toward bio-based feedstock to produce foam increases the demand for Global Bio-Based Foam market during the projected period. Growing Demand from End-Use Industries Manufacturers of bio-based foam use a variety of chemicals to enhance the moisture resistance, UV protection, and fire-retardant qualities of construction materials.Different programs have been created by regulatory agencies all around the world to encourage green buildings. Such activities will increase the demand for bio-based foam insulation in the building industry for applications such as noise abatement and shock absorption. For instance, the Energy Conservation Building Code and other programs were established by the Indian government to encourage the construction of energy-efficient structures. The need for bio-based foam rises as more cars are manufactured in the automotive sector since bio-based foams are utilized to improve comfort, vehicle efficiency, protection, and energy efficient and are easily biodegradable, which leads to an increase in demand for this type of foam for packaging purposes which led to increasing the demand of Global Bio-Based Foam market in the forecast years. Recent Developments • In November 2022, Huntsman launch of ACOUSTIFLEX® VEF BIO system (foam technology) for molded acoustic applications in the automotive industry. • Huntsman Co. signed MOU with KEEN Inc. for the production of a line of shoes on plant-based soles in February 2022. • In February 2022, Sealed Air Co. bought Foxpack Flexibles Limited. • For the mobility industry, Huntsman offered a variety of bio-based foam technologies in August 2019. Market Segmentation Global Bio-Based Foam Market is segmented based on raw material, type, end-use industry, and region.Based on raw materials, the market is categorized into corn, sugarcane, soy, and others. Based on type, the market is fragmented into rigid and flexible.Based on end-use industry, the market is segregated into building & construction, Packaging, automotive, and others. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Company Profiles Woodbridge Corporation, EVA GLORY Industrial Co., Ltd, BASF SE, Cargill Inc., BEWi ASA, Stora Enso Oyj, Trocellen GmbH, Lifoam Industries, LLC, Huntsman Corporation, Foamite Industries Inc. are some of the key players of Global Bio-Based Foam Market. Report Scope: In this report, Global Bio-Based Foam market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below: • Bio-Based Foam Market, By Raw Material: o Corn o Sugarcane o Soy o Others • Bio-Based Foam Market, By Type: o Rigid o Flexible • Bio-Based Foam Market, By End Use Industry: o Building & Construction o Packaging o Automotive o Others • Bio-Based Foam Market, By Region: o North America United States Mexico Canada o Europe France Germany United Kingdom Spain Italy Belgium o Asia-Pacific China India South Korea Japan Malaysia o South America Brazil Argentina o Middle East & Africa South Africa Saudi Arabia UAE Competitive landscape Company Profiles: Detailed analysis of the major companies in global Bio-Based Foam market. Available Customizations: With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report: Company Information • Detailed analysis and profiling of additional market players (up to five). Read the full report: https://www.reportlinker.com/p06480233/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Ferric Chloride Catalyst
