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Flexible Foam Market: Analysis, Size, Share, Growth, Trends, Forecast To 2033
Flexible Foam Market Analysis
As per the report, 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 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%.
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Surging Demand Across Industries Is Fueling Growth In The Flexible Foam Market
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.
Covestro's Groundbreaking Chemical Recycling Process Revolutionizes The Flexible Foam Market
The innovative product is a key trend gaining popularity in the flexible foam market. Major companies operating in the flexible foam market are focused on developing innovative solutions to strengthen their position in the market. For instance, in March 2021, Covestro AG, a German-based company specializing in producing a variety of polyurethane and polycarbonate-based raw materials, developed an innovative process to chemically recycle polyurethane (PU) flexible foam from used mattresses. It expands upon its involvement with the Recticel company-led PUReSmart project. Each mattress has 15 to 20 kg of foam on average. The Covestro approach is distinct from existing chemical recycling processes due to its ability to recover both primary PU components. Isocyanate, the principal by-product of the other component produced during recycling, can now be created in addition to polyol.
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
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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
Contents of the report:
1. Executive Summary
2. Flexible Foam Market Report Structure
3. Flexible Foam Market Trends And Strategies
4. Flexible Foam Market - Macro Economic Scenario
5. Flexible Foam Market Size And Growth
…..
27. Flexible Foam Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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