The global Biodegradable Foam Market is estimated to be valued at US$ 906.1 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:-
Biodegradable foam is a sustainable material composed of biopolymers derived from renewable plant sources such as starch or cellulose. It provides insulation and cushioning while degrading completely in soil or compost without harmful emissions.
Market key trends:-
One of the major trends in the biodegradable foam market is growing demand for biodegradable insulation. Traditional petroleum-based insulation materials are non-biodegradable and emit greenhouse gases at end-of-life. Biodegradable insulation made from corn starch or cellulose breaks down harmlessly in soil or compost, avoiding pollution from landfilling. Many construction projects now specify use of biodegradable insulation to meet sustainability goals of being environmentally-friendly.
Segment Analysis:-
The global biodegradable foam market is segmented into starch foam, cellulose foam, protein foam and others. Starch foam is the dominant segment in the global market owing to its wide availability and cost-effectiveness. Starch foam is derived from natural starch and is biodegradable, compostable and recyclable. It is extensively used in packaging and insulation applications.
Key Takeaways:-
The Global Biodegradable Foam Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing environmental concerns and stringent regulations regarding the use of conventional petroleum-based foams.
North America dominates the global biodegradable foam market and is expected to continue its dominance over the forecast period. This is attributed to the presence of major biodegradable foam manufacturers and strong government support for sustainable products in the region. Asia Pacific exhibits the fastest growth in the market owing to rapid industrialization and growing awareness regarding green packaging in the region.
Key players operating in the biodegradable foam market are BASF SE, Arkema SA, Dow Chemical Company, Synbra Technology BV, and Sekisui Alveo AG. BASF SE offers starch-based Resysta foam boards for insulation and packaging under its Ecoflex brand. Arkema’s biodegradable Green Foam provides insulation for construction and industrial applications.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it