Flexible Foam Market growth will be fueled by rising growth in Furniture & upholstery segment | Top Key Players Huntsman Corporation, The Dow Chemical Company, Covestro, Recticel, Rogers Corporation, BASF, JSP, Zotefoams
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Growing consumers spending on luxury beddings and consumer goods coupled with buoyant demand for the product in several end-use industries including furniture & upholstery, transportation, packaging, consumer goods, and construction will propel the flexible foam market growth. Increasing demand for safety and comfort in automotive and furniture industry will provide lucrative opportunities for the industry participants.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. American Excelsior Co
2. Sheela Foam Private Limited
3. Greiner MULTIfoam GmbH
4. Changzhou Xingang Plastic Products Co., Ltd.
5. Kaneka North America
6. Carpenter Co.
7. ORSA FOAM S.P.A.
8. Vita Cellular Foams (UK)
9. INOAC CORPORATION
11. Sekisui Chemical Co.,Ltd.
13. Woodbridge Foam Corp
14. The Woodbridge Group
15. Rogers Corporation
16. Huntsman Corporation
17. The Dow Chemical Company
Increasing focus of manufacturers towards developing lightweight and fuel-efficient vehicles provides a positive outlook for the industry growth. Surging demand for the product from the packaging industry owing to the lightweight and excellent shock absorbing capability of the product will deliver propitious growth opportunity during the forecasted timeframe. Growing demand for flexible foams in building insulation to meet energy-saving requirements will create new windows of opportunities for industry participants.
Technological advancements in the e-commerce industry have enabled the online retailing companies to adopt diversified channels will create notable gains up to 2025. Growing internet penetration in Asia has significantly improved the product demand. For instance, internet penetration in China was over 45% in the year 2015. Development of viscoelastic flexible foams providing enhanced comfort and moisture resistance will foster the product demand in the automotive & furniture industry.
Industry participants are focusing on expanding their regional presence through strategic mergers & acquisition to cater to the growing consumer requirements. For instance, In May 2012, INOAC and Rogers entered into a joint venture to open a new polyurethane production line in Suzhou, China. The deal is expected to aid the companies in strengthening their foothold the region as well as enable them to ensure a steady source of raw material supply to aid their operations in the Asia Pacific.
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Increasing count of construction projects owing to increasing population, urbanization & economic growth, rising FDI inflows, and government focus on smart cities are expected to augment the flexible foam industry demand. Favourable governments initiatives for spreading awareness and providing subsidies for usage of green materials in the construction sector will result in mushrooming growth for the product. Additionally, the increasing demand for remodeling projects along with a growing demand for light-weight furniture and upholstery will fuel the product demand over the forecast timeframe.
Polyurethane segment dominated the flexible foam market and accounted for over 50% of the overall demand in 2018. It is easily available in form of sheets, molded parts, blocks etc. and can withstand high & low temperatures thus making the product suitable for numerous end-use applications. Polyurethane is majorly used as insulating material in the electronics, building & construction, consumer goods and transportation industry.
Report Contains :
Chapter 3 Flexible Foam Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013- 2025
3.3 Eco System analysis
3.3.1 Raw Material
3.3.3 End Users
188.8.131.52 Furniture & Upholstery
184.108.40.206 Consumer goods
3.3.4 Profit margin trends
3.3.5 Distribution Channel
220.127.116.11 Direct distribution
18.104.22.168 Online sales channel
3.3.6 Vendor matrix
3.4 Technology Landscape
3.5 Raw material trends
3.6 Industry best practices & key buying criteria
3.7 Consumer Behavior Analysis
3.7.1 Unmet needs
3.7.2 Information search
3.7.3 Evaluation of alternative
3.7.4 Purchase decision
3.7.5 Post-purchase evaluation
3.8 Regulatory landscape
3.8.1 North America
22.214.171.124 Flexible Polyurethane Foam Fabrication Operations: National Emission Standards for Hazardous Air Pollutants (NESHAP)
126.96.36.199 Flexible Polyurethane Foam Production and Fabrication: National Emission Standards for Hazardous Air Pollutants (NESHAP) for Area Sources
188.8.131.52 Flexible Polyurethane Foam Production: National Emission Standards for Hazardous Air Pollutants
184.108.40.206 Environmental Product Declaration
220.127.116.11 BS 5852, EN 1021-1 and EN 1021-2
18.104.22.168 EU Regulation 2037/2000 on substances that deplete the ozone layer (CFCs), 29 June 2000
22.214.171.124 Furniture and Furnishings (Fire Safety) Regulations 1988/1989, 1993 and 2010
3.8.3 Asia Pacific
126.96.36.199 IS 7933 (1975): Flexible Polyurethane Foam for Domestic Mattresses, India
188.8.131.52 China Regulates Ozone Depleting Substances
3.8.4 Latin America
184.108.40.206 Directive 349/2015
220.127.116.11 SANS 642-2010
18.104.22.168 SANS 1291-2:2014
3.9 Global furniture outlook, 2017-2025
3.10 Global furnishing industry outlook, 2017
3.10.1 Major importing countries
3.10.2 Major exporting countries
3.11 Current trends of sound insulation and dampening
3.12 Pricing analysis, by region, 2013 – 2024
3.12.1 Regional pricing
22.214.171.124 North America
126.96.36.199 Asia Pacific
188.8.131.52 Latin America
3.12.2 Cost structure analysis, 2018
3.13 Industry impact forces
3.13.1 Growth drivers
184.108.40.206 Growth in the automotive and transportation industry
220.127.116.11 Rapid expansion in packaging industry
18.104.22.168 Increasing utilization of thermal insulation in the construction industry
22.214.171.124 Strong outlook in furniture & bedding industry
3.13.2 Industry pitfalls & challenges
126.96.36.199 Volatility in raw material prices
188.8.131.52 Discharge of hazardous air pollutants during manufacturing process
3.14 Growth potential analysis, 2018
3.15 Competitive landscape, 2017
3.15.1 Company market share analysis, 2017
3.15.2 Company performance analysis, 2017
3.15.3 Top players overview, 2017
3.15.4 Key stakeholders, 2017
3.15.5 Strategy dashboard
3.15.6 Potential customers
3.16 Porter’s analysis
3.17 PESTLE analysis
Asia Pacific flexible foam market will grow significantly owing to the increasing presence of online platforms to provide a wide range of products will augment the regional growth. Shifting consumer interests for home interior products are boosting the demand for different flexible foam types in the industry. Expansion of prominent furniture brands in the region to provide superior quality and low-cost furniture and upholsteries will steer the flexible foam market growth. For instance, in September 2017, IKEA, Swedish-furniture manufacturer, and retailer announced to open its first distribution center in India to enhance their industry share.
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Key players in the flexible foam industry includes Covestro AG, BASF, Dow Chemical Company, Recticel, and Huntsman International. New product launches and technological developments are among the key strategies observed in the industry. For instance, in April 2018, SINOYQX launched its melamine flexible foam, YQX TG with enhanced thermal insulation, sound absorption, and chemical & fire-resistant properties that it provides to automotive & marine engine parts.
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