Flexible Foam Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1735
Flexible Foam Market size is expected to grow significantly with its increasing applications in various industries. The key driving factors for flourishing the product demand are increase in use of this product in automobiles, packaging and furniture & bedding industry. It is used to reduce weight of vehicles in automobile industry and to ensure light weight packages in packaging sector coupled with shock absorption and cushioning properties.
Growing focus on bio-based flexible foams production is one of the key trends behind the market growth. The vendors are adopting organic products to minimize the harmful effects of chemicals on environment. Also, vendors are substituting their manufacturing techniques with sustainable methods for enhancing their product portfolio with green commodities and are continuously investing in research & development activity.
Some other key driving indicators for fuelling the flexible foam market is its wide range of applications in several industries which include transportation, furniture, packaging, bedding and textiles. The product is used widely owing to its excellent handling strength, energy absorption, resiliency and durability properties. Upsurge in demand for this product as cushioning material for distinct commercial and consumer products will boost the industry growth.
Further, applications in automotive component engineering, packaging material development, furniture manufacturing and footwear production will enhance the market. Rise in demand of mattresses, bedding, seating, carpet underlay and pillows in both office and home furniture will have a positive impact on flexible foam market. Also, booming textile industries in several regions will propel the industry growth.
Polypropylene, polyethylene and polyurethane foams are the different product types. Among them, flexible polyurethane foams are further available in integral, molded and slab-stock skin. They are structured, flexible and non-reactive to high temperatures and chemicals which makes them appropriate in producing furniture, apparels, automotive, packaging and footwear applications. They are environmental friendly as they can be recycled and reused.
Flexible foam is used in various industries including, textiles, furniture & bedding, packaging, automotive, aerospace and railways. Automobile application dominates the segment with the growth in transportation industry for manufacturing lightweight vehicles.
Among the wide range of applications, building and construction sector dominates the flexible foam market and is expected to escalate at high CAGR over the forecasted period. Flexible PU foams are used in adhesives, coatings and paints in construction sector. Also, they are used as insulation and structural foams in infrastructure industry. Being eco-friendly, they reduce carbon emissions from environment which will further drive the product demand.
North America dominates the flexible foam market owing to increasing government interventions on energy savings coupled with lowering greenhouse emissions and eco-friendly products. After the crisis, construction industry is maturing with time which will have a positive outlook on the industry. Latin America will also observe a high rise in flexible foam market with increasing automobile and construction industries in several emerging economies including Mexico and Brazil.
Europe flexible foam market is expected to surge due to increasing bio-based PU foam in various applications. Also, the demand for product in engineering and automobile sector is going to rise with growing safety concern and urge for using lightweight vehicles among consumers will impel the industry dynamics.
Asia Pacific, led by India and China is the fastest growing flexible foam market due to growth of various manufacturing industries. Up surging investments in several architectural, technological and research & development sectors in the region will enhance the industry growth. Increasing population has raised the demand for bedding, furniture, footwear, automotive and packaging industry in the region, thus fuelling the product demand.
MEA flexible foam market will grow significantly owing to various environmental laws promoting usage of eco-friendly products in construction industry. Rapid industrialization and urbanization will further fuel this industry in the region.
Global flexible foam market is highly consolidated and competitive in nature due to presence of several multinational companies. Some of the prominent players are BASF, Bayer, JSP, DOW Chemical Company, Huntsman, UBE, Rogers, The Woodbridge, Recticel and Sekisui.
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