The Latin America, Middle East and Africa Polymer Foam Market would witness market growth of 8.9% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 6,170.0 million square meter, showcasing a growth of 9.2% (2023-2030).
In the polymer foam market, packaging represents one of the most significant and widespread applications. Polymer foams are extensively utilized in packaging due to their excellent cushioning properties, lightweight nature, and versatility. Thus, the Brazil market would utilize 320.2 million square meter of polymer foam in packaging by 2030.
The Brazil market dominated the LAMEA Polymer Foam Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,778.2 million by 2030. The Argentina market is showcasing a CAGR of 10.1% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 9.1% during (2023 - 2030).
Foams are employed in orthopedic supports, prosthetics, and cushioning pads for patient comfort and support. Foams are utilized in wound dressings and bandages to absorb exudate, provide cushioning, and promote healing. Biocompatible foams have potential applications in tissue engineering and regenerative medicine as implants or scaffolds.
It has been widely adopted across various industries, driven by their unique properties, versatility, and numerous advantages. The lightweight nature of polymer foams makes them appealing for applications like the automobile and aerospace sectors, where weight reduction is crucial. Their low density allows for improved fuel efficiency, increased payload capacity, and enhanced performance in vehicles and aircraft.
As the healthcare industry expands in Saudi Arabia, there will be a growing demand for medical devices and equipment. Polymer foams are essential in manufacturing various medical devices, including orthopaedic supports, prosthetics, surgical implants, and cushioning pads. According to the International Trade Administration (ITA), Saudi Arabia contributes 60% of the healthcare expenditures of the Gulf Cooperation Council (GCC) nations, and the Saudi Arabian government continues to prioritize this sector. It was projected to spend $50.4 billion on healthcare and social development in 2023, representing 16.96 percent of its budget. Thus, the growing chemical industry and rising investments in the region’s healthcare sector propel the market’s growth.
Free Valuable Insights: The Worldwide Polymer Foam Market is Projected to reach USD 228.8 Billion by 2030, at a CAGR of 7.3%
Based on Type, the market is segmented into Polystyrene Foam, Polyurethane Foam, PVC Foam, Phenolic Foam, Polyolefin Foam, Melamine Foam, and Others. Based on Application, the market is segmented into Building & Construction, Packaging, Furniture & Bedding, Automotive, Rail, Wind, Marine, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Type (Volume, Million Square Meter, USD Billion, 2019-2030)
By Application (Volume, Million Square Meter, USD Billion, 2019-2030)
By Country (Volume, Million Square Meter, USD Billion, 2019-2030)
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