iCrowdNewswire Dec 29, 2020 8:37 PM ET
The global flexible foam market is growing enormously as products manufactured from flexible foams have become indispensable in the current world. It is expected to reach the benchmark of USD 27,229.3 million at an alluring 6.45% CAGR during the predicted years (2018-2023). Owing to its superb quality, range of prospective applications and versatility, the flexible foam is in extreme demand and used extensively by maximum industries the world over. This unique material is used as a cushioning material in automobile seats, carpet cushions, garden furniture pillows, chairs, mattresses, beds and others. It is a variety of polymeric foam that is made by combination of blowing agents, additives, polyols and TDI. Wonderful features such as comfort, improved safety, durability, high resiliency and lightweight is enhancing the scope of the product in the end-use applications. It is a highly sought-after material that is largely used in construction, packaging and automotive industries. Being recyclable, it is enough to grab the interest of different manufacturing domains. Today the market is flooded with flexible foam in different varieties right from flexible foam sheet, flexible foam board, flexible foam for carpet pad to flexible foam for costumes and more.
There are many factors that is fueling the growth of the flexible foam market. The different market trends and factors in this market according to an analysis performed by Market Research Future (MRFR) include increasing disposable income, increasing inclination of consumers to buy luxurious interiors, increasing demand for viscoelastic and memory foam in mattress and bedding, huge growth in the flexible packaging industry, increasing demand for flexible foam in upholstery and furniture, favorable regulations offered by the government bodies on the utilization of insulation materials especially in the construction sector and flexible foam’s desirable properties such as resistance to mildew, low odor, resilience and lightweight. However, fluctuations in the price of raw materials coupled with strict regulations on the utilization of hazardous raw materials at the time of product manufacturing may hinder the demand of the flexible foam market.
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In the Market Research Future (MRFR) report, the flexible foam market has been segmented on the basis of type and end-use.
Based on type, it is segmented into polypropylene, polyethylene, polyurethane and others. Polyurethane is further segmented into integral skin foam, molded and slabstock. Slabstock is again segmented into polyester and polyether. Of these, the polyethylene segment is expected to have a major share in the flexible foam market owning to rising demand of flexible foam in aircraft and automotive industries.
Based on end-use industry, the flexible foam market is segmented into consumer goods, construction, furniture and upholstery, packaging, automotive and others. Of these, the automotive segment will lead the market owing to the shifting trend for durable and lightweight foam in the automotive components.
Based on region, the flexible foam market covers growth opportunities and latest trends across North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. Of these, the APAC region is expected to stay at the forefront during the predicted years owing to the strong value that is maintained via the packaging, furniture and automotive industries. Moreover, supportive trade regime and increasing trading activities here is anticipated to drive the growth of the flexible foam market during the predicted years. Europe is predicted to stay a highly lucrative market in the upcoming years owing to inclination for modern furniture, growing need for lightweight vehicles and increasing demand for utilizing bio-based foam especially in the residential sector. The flexible foam market in North America is expected to gain prominence as a vital growth pocket owing to increasing need for flexible foam that is bio-based and drop in greenhouse emissions.
The global flexible foam market is competitive and highly fragmented due to the existence of many regional and global players. The leading industry participants rely on various strategies such as technological innovation, geographical expansion, product development, mergers and acquisitions and sourcing strategies for enhancing their industry share.
Leading players profiled in the flexible foam market include Flexipol Foams Pvt. Ltd, Sekisui Alveo AG, 3M, Zotefoams plc, Mitsui Chemicals, Inc., Woodbridge Foam Corporation, Ube Industries, Ltd., Recticel, DowDuPont Inc., JSP, Covestro AG, Huntsman International LLC and BASF SE.
Feb 2019- Armacell, the Germany based global leader of flexible foam and a renowned supplier of engineered foams of late has opened a manufacturing facility in Bahrain. This new facility will offer a wide variety of insulation solutions including elastomeric insulation and high-density materials for HVAC (heating, ventilation and air conditioning) systems targeting the domestic market.
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