Global Flexible Foam Market Size To Grow At A CAGR Of 5.6% In The Forecast Period Of 2022-2027
The ‘Global Flexible Foam Market Growth, Share, Size, Analysis, Report and Forecast 2022-2027’ by Expert Market Research gives an extensive outlook of the global flexible foam market, assessing the market on the basis of its segments like types, applications, and major regions.
The key highlights of the report include:
Market Overview 2017-2027
• Forecast CAGR (2022-2027): 5.6%
Flexible foam is a crucial component in various types of furniture and beds, as it boosts comfort and enhances the cushioning effect. Hence, the increasing usage of chairs, carpet cushions, mattresses, and headrests, among others in households, is propelling the incorporation of flexible foam in the furniture segment. The increasing per capita income, rising standards of living, and increasing spending towards home décor are some of the major flexible foam market driving factors.
The demand for flexible foam is also witnessing a significant increase from the construction industry. Flexible foam exhibits high thermal insulation which makes it ideal in the production of various construction components such as water pipes, doors, and window frames, among others. In addition, flexible foam is used to seal roofs and walls which further increases its importance in residential and commercial structures. Over the forecast period, rapid urbanisation and increasing population are leading to an increase in the demand for flexible foams in various construction projects.
Flexible Foam Industry Definition and Major Segments
Flexible foam is a polymer which is versatile, durable, and lightweight, with applications across various end use industries. Flexible foam is manufactured in the form of large buns which are then cut and shaped into pieces of different shapes and sizes. This type of foam offers cushioning to various components owing to its high flexibility and resistance to abrasion, which is boosting the flexible foam market growth.
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Based on type, the market can be segmented into:
• Polyurethane (PU) Foam
• Polyethylene (PE) Foam
• Polypropylene (PP) Foam
• Ethylene-Vinyl Acetate (EVA)
On the basis of application, the market has been classified into:
• Furniture and Bedding
• Consumer Goods
Based on region, the market can be categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Flexible Foam Market Trends
The key trends in the global flexible foam market include increasing demands from the automotive industry to manufacture vehicle headrests, seats, and various internal parts. The increasing application of flexible foam in cars and heavy vehicles in order to bolster the safety, comfort, and energy efficiency, is further propelling the market growth.
Flexible foams are also gaining traction in the packaging industry to increase safety during the transport of delicate components. The packaging industry is further supported by the e-commerce industry which is fuelling the trade of consumer goods within or across borders which is in turn increasing the demand for flexible foams. Moreover, flexible foams made of polyurethane are more eco-friendly as compared to plastic counterparts, which is a major flexible foam market bolstering trend.
In regional terms, Asia Pacific occupies a sizable share in the market owing to the increasing domestic demand for flexible foams, easy availability of raw materials, and low-cost labour. Furthermore, the steady economic growth across emerging economies such as India and China is likely to aid the market.
Key Market Players
The major players in the flexible foam market are
• BASF SE
• Covestro AG
• Huntsman Corporation
• INOAC Corporation
• Recticel Group
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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