The Flexible Foam Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Flexible Foam Global Market Report 2024, The flexible foam market size has grown strongly in recent years. It will grow from $50.76 billion in 2023 to $54.32 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to demand from consumer electronics sector, expansion of packaging applications, shift towards comfortable furniture and bedding, expansion of automotive applications, demand for insulation in construction..
The flexible foam market size is expected to see strong growth in the next few years. It will grow to $71.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to adoption of smart and functional foam solutions, increasing usage in packaging industries, rise in healthcare and medical applications, advancements in bio-based materials, emphasis on energy efficiency in construction.. Major trends in the forecast period include lightweight and high-performance materials, focus on sustainability and eco-friendly solutions, innovation in comfort and ergonomics, advancements in insulation and energy efficiency, shift towards customization and specialization..
The growing demand for flexible foam from various industries is expected to boost the growth of the flexible foam market going forward. Flexible foam is a polymer or plastic that has been produced from petroleum hydrocarbons and other organic chemicals joined by urethane bonds. It is employed in a variety of industrial applications due to exceptional qualities, lower raw material costs, and reliability. The increased usage of flexible foam in end-user industries leads to growing demand, which in turn propels the flexible foam market. For instance, in July 2021, according to Europur, a UK-based European association of flexible polyurethane foam block manufacturers, in Europe, including Russia and Turkey, there were 160 factories producing flexible polyurethane slab stock foam, producing 1.5 million tons of foam annually. In Europe, approximately 50% of the flexible polyurethane foam produced is utilized in upholstered furniture, 35% in bedding, 10% in transportation, and the remaining in other applications such as kitchen sponges or apparel. Therefore, the growing demand for flexible foam from various industries is driving the growth of the flexible foam market.
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The flexible foam market covered in this report is segmented –
1) By Type: Polyurethane (PU) Foam, Polyethylene (PE) Foam, Polypropylene (PP) Foam, Ethylene-Vinyl Acetate (EVA), Other Types
2) By Density: High-Density, Medium-Density, Low-Density
3) By Application: Furniture And Upholstery, Automotive, Packaging, Building And Construction, Consumer Goods, Other Applications
The innovative product is a key trend gaining popularity in the flexible foam market. Major companies operating in the flexible foam market are focused on developing innovative solutions to strengthen their position in the market. For instance, in March 2021, Covestro AG, a German-based company specializing in producing a variety of polyurethane and polycarbonate-based raw materials, developed an innovative process to chemically recycle polyurethane (PU) flexible foam from used mattresses. It expands upon its involvement with the Recticel company-led PUReSmart project. Each mattress has 15 to 20 kg of foam on average. The Covestro approach is distinct from existing chemical recycling processes due to its ability to recover both primary PU components. Isocyanate, the principal by-product of the other component produced during recycling, can now be created in addition to polyol.
The flexible foam market report table of contents includes:
- Executive Summary
- Flexible Foam Market Characteristics
- Flexible Foam Market Trends And Strategies
- Flexible Foam Market – Macro Economic Scenario
- Global Flexible Foam Market Size and Growth
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- Global Flexible Foam Market Competitive Benchmarking
- Global Flexible Foam Market Competitive Dashboard
- Key Mergers And Acquisitions In The Flexible Foam Market
- Flexible Foam Market Future Outlook and Potential Analysis
- Appendix
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