Memory Foam Market Competitive Landscape and Application Development Analysis to 2019 – 2029
Memory foam is also referred to as low-resilience or viscoelastic polyurethane foam. Memory foam is majorly composed of polyurethane and other additives that increase the viscosity and density of the final product.
Memory foam is characterized by its ability to recover to its initial shape and size after the removal of pressure and hence the nomenclature derived from this property. The property of elasticity of memory foam is a resultant of the open foam bubbles that create an open matrix for the air to move through.
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Memory Foam Market Dynamics
Memory Foam Market Drivers
The demand for memory foam is expected to boom in coming years owing to the level of comfort that products made from memory foam offer. The products made from memory foam such as mattresses can mold perfectly to bodies of any shape or size that envelops the consumer into an ideal blend of comfort and support.
Also, memory foam is popular for shock absorption, and for being light-weight. Another end use segment which is rapidly gaining traction in use of memory foam is its design in sports shoes soles and surrounding chassis making it extremely lightweight as well as robust in high athletic activities.
With economic development across the geographies, the growth in working population is immense. After seven to nine hours of working, the preference for highly comforting, relaxing and stress relieving mattresses and other consumers goods is significantly high among the working population of urban areas.
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As a consequence, the demand for comforting consumer goods such as memory foam mattresses, pillows and cushions is expected to increase. Consequently, the propensity of consumers to spend more on such consumer goods has increased drastically.
This is further boosted by healthy level of consumer spend in luxury items where quality and durability of the product is more important than the price. The demand for memory foam is expected to grow further with the growing population and the increasing rates of urbanization across the geographies.
Memory Foam Market Restraints
One of the factor that potentially restrains the sales of the global memory foam market include the high price of the product. Memory foam mattresses are considered to be luxury and lavish products that are consumed majorly by the high earning population of the society. Furthermore, the durability of the memory foam is less. In other words, memory foam loses its ability to recover its shape and size with time.
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Memory Foam Market Trends
As the number of players in the production of consumer goods is increasing, the number of manufacturers in memory foam market is growing at a significant rate. Furthermore, the intensity of competition among of the players of the global memory foam market is significantly high.
Continuous efforts by memory foam manufacturers are being channeled towards improved prototypes of the product consisting of superior properties at an affordable price.
Memory Foam Market Segmentation
The global memory foam market has been segmented into different segments based on density, types and applications of memory foam.
On the basis of density, the global memory foam market is be segmented as:
Standard density (5 to 6 pounds per cubic foot)
Ultra-High Density (18 to 30 pounds per cubic foot)
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On the basis of type, the global memory foam market is be segmented as:
On the basis of applications, the global memory foam market is be segmented as:
Pillows and Mattresses
Memory Foam Market Participants
Some of the market key Memory Foam market participants identified across the value chain of global Memory Foam market that include manufacturers operating at national or international levels and suppliers are as follows:
Foam Factory, Inc.
Sinomax USA Inc.
Adetex Foam Group
Suzhou Isante Home Co., Ltd.
Elite Comfort Solutions
Pittsburgh Plastics Manufacturing Inc.
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