Flexible Foam Market Size

Flexible Foam Market Size

Flexible Foam Market size valued at over USD 35 billion in 2018 and is anticipated to witness over 7.5% CAGR up to 2025 owing to shifting consumer buying patterns along with increasing inclination towards enhancement in the interior design of cars.

Increasing global vehicle production along with growing use of the product in seating’s, armrests and other vehicle parts is also anticipated to boost the product demand. Also, growing furniture demand owing to increasing disposable income coupled with benefits such as enhanced cushioning and durability in the protection of packaged products will further support the flexible foam market growth.

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Rising implementation of the government initiatives in the U.S. and Canada such as the Zero Energy Buildings (ZEB) for reducing energy consumption on an annual basis is expected to fuel the demand for thermal insulation. For instance, the U.S. DOE Zero Energy Ready Home National Program has set standard criteria according to the International Energy Conservation Code. The building codes have a criterion to qualify in the national program initiatives through the constructing of energy-efficient buildings with an efficiency in between 40 and 50 percent as compared to other houses.

Technological advancements including development of the product using bio-based materials, allowing efficient insulation, easy installation methods along with use of excellent soundproof thermal insulation materials in roof and walls applications of buildings are stimulating the industry growth. Growing focus of manufacturers on developing lightweight and fuel-efficient vehicles coupled with the replacement of the rubberized hair and cotton materials with lightweight foams in the furniture & bedding industry will further drive the flexible foam market share over the projected timeframe.

New building constructions with improved energy-efficient solutions along with increasing demand for memory and viscoelastic foam in bedding and mattress products will drive the market in both developed and developing economies.

Favorable government regulations for improving energy efficiency in commercial & residential buildings to prevent loss of natural resources will proliferate the flexible foam market landscape. Growing demand for lightweight and moldable packaging materials in the consumer goods along with increased importance for safety during shipping and transportation will propel the product demand in the packaging of consumer goods. However, stringent environmental regulations on hazardous emissions produced during the fabrication of the product along with restrictions on the use of raw materials such as MDI and TDI will hinder the flexible foam market growth.