Flexible Foam Market to witness 7%+ CAGR till 2025
The market research report “Flexible Foam Market Size By Type (Polyurethane [Polyester, Polyether], Polyethylene [Cross linked, Non-cross linked], Polypropylene, Silicone, Ethylene-Vinyl Acetate (EVA), Melamine, Polyvinylidene Fluoride (PVDF)), By End-Use (Furniture & upholstery, Packaging, Construction, Consumer goods [Clothing & footwear, Household & personal care], Transportation [Automotive, Railway, Aerospace]), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, France, UK, Russia, Poland, China, India, Japan, South Korea, Malaysia, Indonesia, Australia, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025” by Global Market Insights, Inc. says Flexible Foam Market to surpass USD 65 billion by 2025; driven by increasing utilization of thermal insulation in the construction industry & Rapid growth in the automotive and transportation industry.
Strong outlook with versatile end-user applications including furniture & upholstery, packaging, construction, consumer goods, bedding, pillows, mattresses, carpet cushion, automotive interiors etc., are among key factors driving the flexible foam market growth. Features such as lightweight, high resiliency, durability, and improved safety & comfort will enhance the product scope in end-use applications. Shifting focus of the manufacturers towards development of products using bio-based materials will further stimulate the product demand.
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Increasing disposable income along with rising inclination of consumers towards the purchase of luxurious interiors will propel the flexible foam market demand. Growing demand for memory and viscoelastic foam in bedding and mattress products along with rapid expansion in the flexible packaging industry owing to the enhanced protection against vibration during shipping will propel the industry growth. Also, increasing focus of manufacturers towards developing lightweight and fuel-efficient vehicles provides a positive outlook for the industry growth.
Growing demand for the product in furniture and upholstery applications to provide improved cushioning, low water absorption, good mechanical strength and absorption of static stress will enhance the market penetration. Favourable regulations provided by government bodies regarding the use of thermal insulation materials in the construction sector globally will fuel the industry expansion. For instance, the International Energy Conservation Code (IECC) has set a standard criterion to qualify in the national program through the construction of energy-efficient buildings with efficiency level between 40 to 50 percent compared to other houses. However, fluctuation of raw material costs and stringent regulations regarding the use of hazardous raw materials during the manufacturing of the product may hamper the demand.
Polyurethane dominated the flexible foam market and accounted for over 60% of the overall demand in 2018. Polyurethane is widely used in numerous applications such as automotive interior components, lightweight automotive parts, cushioning in beddings and upholstery and as thermal insulation products in buildings etc. Features such as enhanced cushioning, lightweight, durability, lower installation time, increased shelf life and high resiliency are among key properties expected to drive the flexible polyurethane foam demand.
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Furniture & upholstery end-use segment accounted for over USD 10 billion in 2018. Increasing number of restaurants with improved cushioning and comfort requirement supported by high consumer spending on luxurious interiors will positively influence the flexible foam market revenues. Technological advancements in flexible foam materials have fueled the applications scope in the past few years. Recent product developments in the flexible foam products have enabled the manufacturers to develop smart memory or viscoelastic products that provide better durability, longer product life and protection against allergens and microorganisms.
Asia Pacific dominated the flexible foam market and accounted for over 30% of the overall demand in 2018. Surging consumer spending on luxurious products and consumer goods coupled with the rising demand for memory foams in beddings and mattresses will proliferate the regional industry growth. Significant growth in the regional construction industry owing to an increasing disposable income, and favourable FDI policies are propelling the regional growth during the forecasted timeframe. Growing hospitality industry, particularly in South-East Asian countries including Malaysia, Thailand, Indonesia, Vietnam, and Singapore owing to favourable FDI policies, will stimulate the market development.
Browse key industry insights spread across 450 pages with 418 market data tables & 19 charts & figures from the report, “Flexible Foam Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/flexible-foam-market
BASF, Covestro AG, Huntsman International, Dow Chemical Company and Recticel are among major flexible foam manufacturers. Global industry share is highly fragmented with the presence of multinational and regional players. The manufacturers are involved in production capacity expansions, mergers & acquisitions, and new product launches, to gain a competitive share. For instance, in October 2014, Sekisui Chemical announced to invest USD 3 million in the manufacturing facilities in Coldwater, Michigan to cater the growing demand from the North American market.
Flexible foam market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Tons & revenue in USD Million from 2013 to 2025, for the following segments:
By Type
Polyurethane
Polyester
Polyether
Polyethylene
Cross linked
Non-cross linked
Polypropylene
Silicone
Ethylene-vinyl acetate (EVA)
Melamine
Polyvinylidene fluoride (PVDF)
By End-Use
Furniture & upholstery
Packaging
Construction
Consumer goods
Clothing & footwear
Household & personal care
Others
Transportation
Automotive
Railway
Aerospace
The above information is provided on a regional and country basis for the following:
North America
U.S.
Canada
Europe
Germany
Italy
France
UK
Russia
Poland
Asia Pacific
China
India
Japan
South Korea
Malaysia
Indonesia
Australia
Latin America
Brazil
Argentina
Mexico
Middle East & Africa
Saudi Arabia
UAE
South Africa
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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