Molded Foam Market Size

Molded Foam Market size is poised to reach USD 27 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of molded foam was USD 16 Billion. The reason behind the growth is due to the growing production of automobiles across the globe owing to the increased consumer interest, and government policies. More than 55 million cars are produced annually, which accounts for about around 2% of global GDP. For instance, more than 85 million motor vehicles were produced globally in 2022, a 5% increase from 2021.

The growing need for aesthetic products is believed to fuel the molded foam market growth. Molded foams are best known to the furniture industry for their ability to produce a wide range of accessories, including mattresses, and are also offered in practical or aesthetically pleasing finishes.