Description of the Report
Global flexible foam market value was $44.0 billion in 2019. It is expected to grow at a 5.2% CAGR between 2020 and 2027.
Infrastructural developments, the expansion of residential and commercial sectors, and favourable public-private partnerships are critical factors in the growth of flexible foam markets worldwide. They provide better infrastructure solutions. The construction market is also influenced positively by technological advances and the penetration of international infrastructure companies into emerging economies. The demand for furniture is expected to rise due to increased residential construction. Flexible foam is a critical consumer in the furniture industry, using it as a cushioning material for upholstered furniture. Flexible polyurethane foam also makes furniture more comfortable and durable. The furniture industry is expected to positively impact the flexible foam market shortly.
The rapid growth in the construction and mining industries is due to emerging economies’ economic development. Flexible foam seals and consolidates rock in mining operations and tunnel construction. The African mining industry proliferates, while many foreign countries invest in Asia-Pacific via the industrial sector.
Green buildings are needed due to the increasing impact of construction activities on the environment and health. The U.S. Green Building Council’s 2007 Environmental Impact of Buildings study found that buildings contribute 38.9% to the nation’s total carbon dioxide emissions. This includes 20.8% of the residential and 18.0% of the commercial sectors. Green buildings incorporate environmentally-friendly and resource-efficient methods at every stage of construction. Green building is a way to improve the efficiency of buildings’ use of energy, water, materials, and other resources. The most efficient insulation available on the market is polyurethane foam. It is widely used in buildings to reduce energy consumption. This benefits both the immediate owner and the environment by reducing energy costs and greenhouse gases. This is an excellent opportunity for manufacturers in the flexible foams market.
The global flexible foam market can be divided into type, application, and region. Depending on the type, the call can be divided into polyurethane, polyethylene, P.E., polypropylene, and ethylene-vinyl alcohol (EVA). The study covers furniture and bedding, transport, packaging, construction, and consumer goods. The flexible foam market is examined region-wise in North America, Europe and Asia-Pacific.
The market is dominated by major players such as BASF SE and Covestro AG. Huntsman Corporation, INOAC Corporation. Sekisui Chemical Co. Limited., Recticel NV. The Woodbridge Group. Rogers Corporation.
Flexible foam market by type
The polyurethane foam segment accounted for the largest market share by type in 2019. This trend is expected to continue during the forecast period. Polyurethane foam has a wide range of applications in the automotive industry, including manufacturing vehicles and their many parts.
Flexible foams are more popular among consumers, which has led to increased adoption of polyurethane foams in automotive and construction. Flexible foams are also in high demand due to industrialization. This is true for all industries, including automotive, interior decor, transportation and packaging.
Flexible foam market by application
Flexible foams can be used in many industries, including construction, furniture, bedding, packaging, and consumer goods. Flexible foams are gaining popularity because they reduce energy costs and make residential and commercial properties more energy-efficient and comfortable. Most builders use flexible polyurethane foam to maintain a consistent temperature and reduce noise levels in commercial and residential properties. Flexible polyurethane foams are used in furniture construction to create stylish, durable and comfortable furniture. Flexible polyurethane foam can also be used in the furniture industry for transportation, bedding, packaging, textile, and fibres. Furniture & bedding is the most critical segment regarding volume and value.
Asia Pacific would experience a CAGR of 5.6% between 2020-2027
Flexible foam market by region
Europe accounted for 30.7% of the global flexible foam market. The presence of critical economies like the U.K. and Germany explains this. Furniture producers and suppliers have also steadily recovered from the downturn in the economy since 2014. This contributed to the growth of this market.
Asia-Pacific is a profitable market for flexible foams and is expected to grow at the highest rate of CAGR in volume and value over the forecast period. This can be attributed to the fact the Chinese Government invested in many industries, including shipbuilding, iron, steel, cement, automobiles, textiles and shipbuilding, which are all significant consumers of flexible foams. India’s expanding economy will likely increase industrialization and urbanization in the coming years. This is likely to make it an attractive market for flexible foams.
The Impact Of Covid-19
Due to increased awareness about safe packaged products, the COVID-19 crisis offers an excellent opportunity for the packaging industry. This will be driven by many factors, including increased domestic demand and safe consumer goods. The largest market for flexible foam, i.e. The revenue growth of the construction industry, was affected by the corona crisis, which is expected to slow down flexible foam market growth.
Key Benefits for Stakeholders
- This report includes a detailed analysis of the flexible foam market, future forecasts, and current trends.
- This report highlights key market drivers, opportunities and restraints, as well as the impact analysis for the forecast period.
- Porter’s Five Forces Analysis helps you understand the potential buyers and suppliers and the competitive environment of the global flexible foam market. This analysis can be used for strategy development.
- An extensive market analysis of flexible foam covers all factors influencing and inhibiting the market growth.
- The report contains qualitative information about market trends, dynamics, and developments.
Flexible Foam Market Report Scope and Segmentation
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
Key Market Segments
- By Application
- Furniture and Bedding
- Consumer Goods
- Sort by Type
- Polyurethane (P.U.), Foam
- Foam made of polyethylene (P.E.)
- Polypropylene (PPF) Foam
- Ethylene-Vinyl Acetate (EVA)
- By Region
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
- North America
Key Market Participants
- BASF SE
- Covestro AG
- Huntsman Corporation
- INOAC Corporation
- Recticel NV
- Rogers Corporation
- Sekisui Chemical Co. Ltd.
- The DOW Chemical Company
- The Woodbridge Group
- Ube Industries, Ltd