Market Research Future Published a Cooked Research Report on Global Flexible Foam Market Research Report- Forecast to 2023
Global Flexible Foam Market is growing at a rapid pace, mainly due to the extensive usages of this foam across the ned-use industries. Flexible foams are one of the most sought-after industrial materials in the automotive, packaging, and construction sector. Its recyclability is a primary factor that interests various manufacturing domains, which further leads to the massive consumption of this foam in all major industries and accelerates its market growth. Also, the market is predicted to witness a higher growth rate throughout the review period.
According to a leading research firm – Market Research Future (MRFR), Global Flexible Foam Market is poised to touch a valuation of USD 39,387.5 MN by 2023, growing at 6.45% CAGR during the assessment period (2018-2023). In 2017, the market valuation had reached USD 27,229.3, MN. The massive growth of this market majorly attributes to the increasing usage of Flexible Foam in day to day life to improve comfort and luxury. Besides, the emergence of bio-based polyols is escalating the market on the global front.
The market is also driven by the vast applications of this foam across rapidly growing industries such as automotive, construction, furniture & bedding, and consumer goods. Other factors, such as rising construction spending, the growing economy, and increasing demand with the rise in automotive production, and several environmental benefits of Flexible Foam are expected to drive the growth of the market. Additionally, rapid urbanization in emerging economies is impacting the market.
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Global Flexible Foam Market – Competitive Analysis
Highly Competitive, Global Flexible Foam Market appears to be fragmented due to the presence of many well-established players. To gain a larger competitive advantage, players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, partnership, and product & technology launch. Players also make high investments to expand their distribution network, production capacity, and supply chain in emerging countries.
They strive to reduce the cost of their products by adopting cost-effective manufacturing methods. Growing application industries have boosted the overall market, which, in turn, has created a platform for manufacturers to cover the overall market. There will be a bounteous scope for the domestic, as well as international players, to introduce new products and opportunities for the new entrants.
Players Leading the Global Flexible Foam Market include BASF SE, DowDuPont Inc., Covestro AG, Huntsman Corporation, Ube Industries, Ltd., JSP, Recticel, Zotefoams plc., Mitsui Chemicals, Inc., Woodbridge Foam Corporation, 3M, Flexipol Foams Pvt. Ltd., and Sekisui Alveo AG, among others.
Industry/ Innovation/ Related News:
December 04, 2019 —- PAI Partners (France), one of the oldest European private equity firms, announced that it has agreed to acquire German industrial foams maker Armacell International Holding GmbH, together with a Denmark-based company Lego Group, a majority stakeholder Kirkbi A/S. As per the agreement, PAI will become a majority shareholder in the flexible foam maker, which supplies mainly to the equipment insulation market.
Kirkbi has been one of the key investors in Armacell since 2016, and it is expected to accrue its stake in the company to a significant level. According to Kirkbi, the move is in line with the company’s investment strategy of being a long-term owner of market-leading companies.
Browse Key Industry Insights spread across 199 pages with 226 market data tables & 40 figures & charts from the report, “Flexible Foam Market Information: By Type [Polyurethane (Slabstock, Molded, Integral), Polypropylene, Polyethylene], by End Use Industry [Furniture & Upholstery ((Residential, Commercial)) Automotive ((Seats, Headrest, Steering Wheel, Air Filter Gaskets)), Packaging, Consumer Goods ((Clothing & Footwear, Household & Personal Care, Consumables)), Construction] and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/flexible-foam-market-4786
Global Flexible Foam Market – Segmentation
The Analysis has been Segmented into three Major Dynamics.
By Type : Polyurethane [Slabstock (Polyether and Polyester), Molded, and Integral (Polyethylene, Polypropylene, others)]
By End Use Industry: Automotive (Automotive Seats, Headrest, steering wheel, Air Filter Gaskets, others), Packaging, Furniture & Upholstery (Residential and Commercial), Construction (Flooring, Doors & Window Panel, others), Consumer Goods [Clothing & Footwear (Sports Shoes, Protective clothing, others), Household & Personal care (Cosmetic applicators, Household Sponge, others), Consumables (Polishing pads, Paint Rollers, others), and others.
By Regions: Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.
Global Flexible Foam Market – Regional Analysis
Asia Pacific dominates the Global Flexible Foam Market and is projected to grow at 7.39% CAGR over the forecast period. The region demonstrates potential growth opportunities due to the rising production and sales of automobiles, which creates huge market demand. Additionally, the presence of such as Mitsubishi and Toyota, who are currently expanding their production facilities in Malaysia, Indonesia, and the Philippines, supports the growth of the Flexible Foam Market.
Due to the revised tax policies resulting in reduced vehicle prices, the production & sales of automobiles in the region is likely to grow exponentially. China and India are the largest contributors to the Flexible Foam Market in the Asia Pacific region. Also, rapid urbanization in the region is leading to substantiating the demand for polyurethane foam and polyethylene foam. The APAC Flexible Foam Market valuation is poised to rise to USD 17,183.8 MN by 2023, from USD 11,266.3 MN in 2017.
Europe is another lucrative market for Flexible Foam globally. The region is considered as a high revenue growth pocket in the Global Flexible Foam Market. The market growth attributes to the rising demand for lightweight vehicles and raising awareness regarding the use of bio-based foam in the residential sector. Besides, the improving standard of living of the population in the region generates a higher demand for Flexible Foam for modern furniture. The European Flexible Foam Market is forecasted to reach a valuation of USD 8397.4 MN by 2023, registering 5.29% CAGR over the assessment period.
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