Closed Cell Foam Market Report 2024

This Closed Cell Foam market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The closed cell foam market size has grown strongly in recent years. It will grow from $2.41 billion in 2023 to $2.6 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth during the historic period can be attributed to the rising demand for lightweight materials in the automotive and aerospace industries, the expanding applications of closed-cell foam for insulation in construction, growing awareness of energy efficiency and sustainable practices, increasing consumer preference for durable and waterproof materials, and heightened investments in the packaging sector for protective solutions.

The closed cell foam market size is expected to see strong growth in the next few years. It will grow to $3.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The projected growth during the forecast period can be attributed to the increasing need for noise and vibration dampening solutions across various industries, escalating regulatory standards for insulation materials in construction, a rising adoption of closed-cell foam in medical and healthcare applications, and growing demand for high-performance materials in sports and recreational products. Key trends expected during this period include a shift towards eco-friendly and recyclable closed-cell foam materials, the growth of online sales channels for foam products and solutions, advancements in manufacturing technologies that enhance foam properties, the rising integration of smart materials and sensors in foam applications, and the expansion of closed-cell foam usage in emerging markets and sectors.

The anticipated growth of the automotive industry is expected to drive the expansion of the closed-cell foam market in the future. The automotive industry encompasses the design, development, manufacturing, and sale of motor vehicles, which includes cars, trucks, buses, motorcycles, as well as their components and systems. This industry's growth is attributed to advancements in electric vehicle technology and rising urbanization. Closed-cell foam contributes significantly to the automotive sector by providing excellent sound dampening for enhanced passenger comfort and effective thermal insulation to help maintain cabin temperatures. For example, in May 2023, the European Automobile Manufacturers Association, a UK-based trade group, reported that global motor vehicle production reached 85.4 million units in 2022, marking a 5.7% increase from 2021. Thus, the expanding automotive industry is propelling the growth of the closed-cell foam market.

Key players in the closed-cell foam market are focusing on creating innovative products, such as closed-cell spray foam insulation, to improve energy efficiency and address the growing consumer demand for sustainable building materials. Closed-cell spray foam products are insulation materials that are applied as a liquid and expand upon application, forming a dense and rigid foam with closed cells. For instance, in September 2023, Firestable Insulation Company, a US-based chemical manufacturing firm, introduced Stablebase 2 Max R, a closed-cell foam boasting a high R-value of 7.5, aimed at optimal thermal performance and environmental sustainability. This advanced foam complies with the International Building Code (IBC) and is certified under NFPA-275, allowing it to serve as a single-application thermal barrier without needing additional protective layers such as gypsum board or intumescent coatings. The FS 2 foam provides outstanding insulation with high R-values and functions as an air, vapor, and water barrier, enhancing overall building efficiency. This product signifies a major advancement in spray foam technology, offering safety and efficiency for a variety of construction projects.

In March 2024, Jacobs & Thompson (J&T), a Canadian manufacturer and distributor of foam products, acquired RamFoam Ltd for an undisclosed sum. This acquisition is intended to strengthen J&T's presence in the UK market, integrate operations for growth across Europe, and penetrate the Middle East market, thereby enhancing its position in the polyethylene foam industry through combined expertise and an expanded product range. RamFoam Ltd. is a UK-based manufacturer and supplier of polyurethane and polyethylene foam products, including closed-cell foam.

Major companies operating in the closed cell foam market are BASF SE, Thermo Fisher Scientific, 3M Company, DuPont, Mitsui Chemicals Inc, Avery Dennison Corporation, Huntsman Corporation, Nitto Denko Corporation, Sealed Air Corporation, Trelleborg AB, Rogers Corporation, Tremco Incorporated, Sheela Foam, UFP Technologies Inc., Zotefoams Plc, General Plastics Manufacturing Company, Polymer Technologies Inc., Sekisui Chemical Co. Ltd, Aerofoam Industries, Foam Supplies Inc., Gaska Tape Inc, Moulded Foams Limited, American Foam corporation, Saint-Gobain Performance Plastics, Rubatex International LLC.

North America was the largest region in the closed cell foam market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the closed cell foam marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the closed cell foam marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Closed-cell foam is a type of foam material distinguished by its structure, in which the cells (or bubbles) are entirely enclosed and not interconnected. This foam has a higher density compared to open-cell foam, offering superior insulation properties due to its resistance to water absorption and airflow. It is commonly used for insulation, buoyancy aids, and protective packaging.

The primary types of closed-cell foam include polyethylene foam, neoprene foam, polystyrene foam, polyvinyl chloride foam, polyurethane foam, and ethylene propylene diene monomer foam. Polyethylene foam is a lightweight, closed-cell foam recognized for its excellent shock absorption and insulation characteristics, making it ideal for packaging and cushioning applications. It comes in various densities low, medium, and high and is utilized across multiple sectors, including residential, industrial, automotive, aerospace, marine, medical, sports and fitness, packaging, and more.

The closed cell foam market research report is one of a series of new reports that provides closed cell foam market statistics, including closed cell foam industry global market size, regional shares, competitors with a closed cell foam market share, detailed closed cell foam market segments, market trends and opportunities, and any further data you may need to thrive in the closed cell foam industry. This closed cell foam market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The closed cell foam market consists of sales of insulation panels, foam sheets, foam cushions and foam rollers, and camping mats. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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