Dublin, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The "Bio-Based Foam Market by Raw Material (Corn, Sugarcane, Soy), Type, End-Use Industry (Building & Construction; Packaging; Automotive; Furniture & Bedding; and Footwear, Sports & Recreational), and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The bio-based foam market is projected to grow from USD 102 million in 2022 to USD 229 million by 2027, at a CAGR of 23.1% from 2022 to 2027.

The global market for bio-based foam is driven by major factors such as growth in end-use industry, changes in government regulations and increasing adoption of bio-based material in various manufacturing industries.

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By raw material, the sugarcane-based segment is estimated to be the fastest-growing segment of bio-based foam market during 2022 to 2027

Based on raw material, the sugarcane-based segment is estimated to be the fastest growing segment during the forecast period. The growth in various end-use industry to lead the growth of this segment. Many leading end-use industries are using sugarcane-based foam in their product manufacturing. Sugarcane is one of the easily available raw materials to various foam manufacturing companies.

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The flexible segment in type is projected to register the highest CAGR during the forecast period.

Based on type, the flexible segment is projected to register the highest CAGR during the forecast period. Many leading end-use industries such as packaging have increased the adoption of flexible bio-based foam. The properties of this foam such as light, durable, and mouldable makes it ideal choice for various application ranging from bedding & furniture, automotive interiors, and packaging, among others.

By end-use industry, the automotive segment is estimated to be the fastest-growing segment of bio-based foam market during 2022 to 2027

Based on end-use industry, the automotive segment is estimated to be the fastest-growing segment during the forecast period. Bio-based foams are used by many leading automotive manufacturing companies. The growth of the automotive sector is expected to drive the bio-based foam market.

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The bio-based foam market in Europe region is projected to witness the highest CAGR during the forecast period.

Europe region is projected to register the highest CAGR in the bio-based foam market from 2022 to 2027. Europe is one of the key markets for bio-based foam. The region has a high demand for bio-based foam due to government regulations, and rising demand from various end-use industries.

Source: Research and Markets (www.researchandmarkets.com)

Key Words：

#Bio-Based Foam, #Foam Industry, #Forecast Report, #Foam Market, #Sugarcane-Based Foam, #End-Use Industry, #Raw Material, #Packaging Industry