Press release
Flexible Foam Market 2024-2033 Growth, Size, Market Drivers, Trends, Opportunities And Challenges
Flexible Foam Market
The Business Research Company presents an extensive market research report on the Flexible Foam Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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.
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Key Market Players:
Major companies operating in the flexible foam market report are Badische Anilin- und Soda-Fabrik SE, The Dow Chemical Company, Huntsman Corporation, Ube Industries Ltd., Recticel Flexible Foams nv, Zotefoams plc, The Woodbridge Group of Companies, SEKISUI Alveo AG, Covestro AG, Rogers Corporation, JSP Foam Products Pte. Ltd., O.R.S.A. Foam Spa, Bayer MaterialScience LLC, Mitsui Chemicals Inc., Kaneka Corporation, Flexipol Foams Pvt. Ltd., Sealed Air Corporation, UFP Technologies Inc., Vita Group, Eurofoam Group GmbH, Armacell International S.A., INOAC Corporation, FXI Inc., Future Foam Inc., W.W. Carpenter Company, Foamcraft Inc., Foam Supplies Inc., Alanto Ltd., FoamPartner (Switzerland) AG, Grand Rapids Foam Technologies, Hira Industries LLC, Innovo Packaging Group LLC
Market Drivers:
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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https://www.thebusinessresearchcompany.com/report/flexible-foam-global-market-report
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 report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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