Indian Foam Industry 2023-2028: Size, Share, Growth, Opportunity and Forecast

How Big is the India Foam Market?

The India foam market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.

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What is Foam?

Foam is a versatile material defined as a substance that consists primarily of gas trapped in a liquid or solid state, forming a mass of bubbles. It includes various aspects, such as density, elasticity, and thermal conductivity, which differ significantly based on their specific compositions and production methods. It is available in multiple types, including open-cell and closed-cell foams, each having distinct characteristics. It is produced through processes that introduce gas into a liquid, often by mechanical agitation or chemical reactions. It aims to offer insulation, cushioning, and lightweight solutions. It provides benefits, including reduced sound transmission, efficient thermal insulation, and effective shock absorption. It is utilized in making furniture, due to its adaptability and varied functional benefits.

What are the growth prospects and trends in the Indian foam industry?

At present, the escalating demand for luxury vehicles and advanced interiors in the automotive sector represents one of the vital factors impelling the market growth in India. Additionally, rising advancements in manufacturing processes and innovations in material science are driving the development of high-quality foams and increasing their adoption across various industries. Besides this, the growing focus on conducting local foam production under government initiatives like Make in India is positively influencing the market in the country.

Moreover, the rising emphasis on safety standards across industries is facilitating the utilization of effective foam solutions that comply with fire resistance and toxicity norms. In addition, the increasing number of initiatives undertaken by the Government of India aimed at infrastructure development and housing is driving the need for foam-based insulation and construction materials.

Furthermore, the growing emphasis on sustainable and eco-friendly products among environmentally conscious individuals is encouraging manufacturers to explore greener foam solutions, such as plant-based and recyclable foams. Apart from this, the rising employment of medical foams in the healthcare sector for manufacturing hospital beds and medical equipment padding is propelling the market growth in the country.

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Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Category:
• Flexible Foam
• Rigid Foam

Breakup by Type:
• Polyurethane
• Polystyrene
• Polyolefin
• Phenolic
• PET
• Others

Breakup by Application:
• Furniture
• Automotive
• Building and Construction
• Apparels
• Packaging
• Appliances
• Others

Breakup by Region:
• South India
• North India
• West and Central India
• East and North East-India

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Some of the Top Key players in the Indian Foam Market

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
Tirupati Foam Limited

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This release was published on openPR.