Flexible Foam Market by Type, by Mechanism, by Application, by Geography – Global Market Size, Share, Development, Growth, and Demand Forecast, 2019 – 2023

“”Flexible Foam Market Research Report- Forecast to 2023″”
This MRFR report offers global flexible foams market forecast for 2018-2023. The primary objective of the report is to deliver a fair perspective towards the current growth trend of the market and identify new revenue pockets. All the pertinent factors are taken into account for analyzing growth opportunities and threats.

Global Market for Flexible Foam-Competitive Dashboard:

Some of the key players profiled by MRFR in the report are BASF SE, Huntsman International LLC, 3M, Covestro AG, JSP, DowDuPont Inc., Recticel, Ube Industries, Ltd., Woodbridge Foam Corporation, Mitsui Chemicals, Inc., Zotefoams plc, 3M, Sekisui Alveo AG, and Flexipol Foams Pvt. Ltd.

Global Market for Flexible Foam-Segmental Analysis:

MRFR’s report offers a detailed segmental analysis of the market based on type and end-use industry. By type, the flexible foam market is segmented into polyurethane, polyethylene, polypropylene, and others. The polyurethane segment has been sub-segmented into slabstock, molded, and integral skin foam. The slabstock segment has further been sub-segmented into polyether and polyester. Led by the slabstock sub-segment, the polyurethane segment is likely to retain a dominant share of the flexible foam market in the foreseeable future. The polyethylene segment is likely to gain prominence in the market during the forecast period due to increased demand from end-user industries such as automotive, aircraft, automotive, etc.

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By end-use industry, the market has been segmented into automotive, packaging, furniture and upholstery, construction, consumer goods, and others. Among these, the automotive segment is estimated to control a significant fraction of the market towards the end of 2023. It accounted for the most significant share of the market in 2017 which accounted for 32.2% of the total share. The segment is projected to reach a valuation of USD 13,253.6 Mn by the end of 2023 up from USD 8,775.9 Mn in 2017. The growth is attributable to the shifting trend towards lightweight and durable foam in automotive components. The automotive segment is trailed by the packaging segment, and, furniture and upholstery segment in terms of share of the market.

Regional Outlook:

On the basis of region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is estimated to register a relatively higher CAGR of 7.39% through the assessment period. It is further projected to reach a valuation of USD 17,183.8 Mn by the end of the review period. The growth is attributable to the strong value maintained by the automotive, furniture, and packaging industries. Additionally, increasing trading activities and supportive trade regime in the region is expected to augment the demand during the forecast period.

Europe is expected to remain a highly lucrative flexible foam market over the next couple of years. The region is poised to reach a market valuation of USD 8,397.4 million over 2023 thriving at a CAGR of 5.29%. The factors responsible for favoring the growth of the market in the region include inclination towards modern furniture, increasing urge for using bio-based foam in the residential sector, growing demand for lightweight vehicles, etc.

North America is projected to gain prominence as an important growth pocket of the flexible foam market. Increasing demand for bio-based flexible foam coupled with a reduction in greenhouse emissions is expected to have a positive influence on the market proliferation.

The rapid adoption of slabstock foam in the furniture and bedding industry is also a significant driver of the market growth. Mattresses and beddings are increasingly being entirely made up of slabstock foam due to their various desirable properties including lightweight, low odor, resiliency and the ability to quickly recover after compression. Innovations in flexible foams and trend for thicker, firmer mattresses will spur the growth of the flexible foam market

A wide range of materials such as polyols, diisocyanates, additives, catalysts and blowing agents goes into the making of flexible foams which makes their production and manufacture entirely commodity-dependent. Among diisocyanates, TDI is used primarily in the production of flexible foams which is mainly obtained using nitration of toluene, a crude oil derivative. Crude oil and other primary raw materials are subject to price fluctuations and are expected to restrain the market growth over the forecast period, especially among the price-sensitive customer population

Polyols, a crucial raw material for flexible foams, derived from petroleum pose the challenges of fossil fuel depletion. Growing interest among manufacturers towards producing environmentally friendly and sustainable products have resulted in the production of flexible foams with increased bio-based content. Development of new methods of manufacture of polyols which are safer is expected to provide ample growth opportunity to the global flexible foam market over the forecast period

The global flexible foam market has been segmented based on type and end user. By type, the market has been segmented into as polyurethane, polyethylene, polypropylene, and others.  The polyurethane segment has been further segmented into slabstock, molded, and integral skin foam. The slabstock sub-segment has been further segmented into polyether and polyester. Type-wise, the polyurethane segment is the largest and accounted for USD 14,439.2 million in 2017. The segment is expected to attain USD 20,974.5 Million by the end of 2023. The slabstock sub-segment leads the polyurethane market, followed by the molded and integral skin foam segments. The polyether variety of slabstock is expected to be the fastest growing segment due to the growing demand for cost-effective sports and leisure goods coupled with the rising demand for cushioned effect in medical applications.

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