Flexible Foam Market Size 2024-2028
The flexible foam market size is forecast to increase by USD 18.75 billion at a CAGR of 6.61% between 2023 and 2028. The market is witnessing significant growth due to the expanding production capacity by companies in response to the increasing demand from various industries, including the consumer goods sector for child stools and furniture, and the transportation industry for use in cars. Polyurethane, a primary raw material for flexible foam, is experiencing increased usage due to its excellent cushioning properties and cost-effectiveness. However, the market faces challenges from alternative materials such as latex and memory foam, which offer unique benefits and threaten the market's growth. Despite this, its versatility and affordability make it a preferred choice for numerous applications.
The market is witnessing significant growth due to its extensive applications in various industries, including automobile production and the furniture industry. In the automotive sector, flexible foam is widely used as a cushioning material for automobile parts such as seats, armrests, and carpets. It provides comfort and support to passengers, making it an essential component in the automobile industry. In the furniture industry, flexible foam is used to manufacture beds, mattresses, chairs, garden furniture, and carpet cushions. The material's ability to provide comfort and durability makes it a popular choice for furniture manufacturers. This is also used in the transportation sector, particularly in electric vehicles and cars, for insulation purposes using eco comfort insulation panels.
Furthermore, the material's properties, such as its lightweight, flexibility, and excellent cushioning properties, make it an ideal choice for various applications in homes, offices, and public spaces. The market for flexible foam is driven by the increasing demand for comfortable and durable cushion seats in various sectors, including automotive and furniture. Flexible foam is available in various types, including polyurethane, polyethylene foam, and polypropylene foam, which cater to different applications based on their properties. The versatility and wide range of applications of flexible foam make it a growing market, with significant potential for future growth.
Market Segmentation
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
- Application
- Furnishings
- Transportation
- Packaging
- Others
- Type
- Polyurethane flexible foams
- Polyethylene flexible foams
- Polypropylene flexible foams
- Others
- Geography
- APAC
- China
- Japan
- Europe
- Germany
- UK
- North America
- US
- Middle East and Africa
- South America
- APAC
By Application Insights
The furnishings segment is estimated to witness significant growth during the forecast period. Flexible foam is a type of foam known for its softness, durability, and ability to maintain shape while providing excellent support. This versatile material is extensively used in various industries, including automotive and furniture. In the automotive sector, flexible foam is employed in the manufacturing of automobile parts such as seats, armrests, and headrests. The use of flexible foam in these applications enhances comfort and reduces carbon emissions by improving the energy efficiency of vehicles. In the furniture and bedding industry, flexible foam is a popular choice due to its capacity to adapt to the shape of the user's body, ensuring optimal comfort.
Furthermore, it is used in a wide range of applications, from hospital furniture and office chairs to stadium and auditorium seats. Flexible foam is also utilized in carpet cushioning to extend the lifespan and enhance the overall comfort of the carpet. Its ability to provide the desired feel underfoot without excessive thickness is a significant advantage in this application. Additionally, eco-conscious manufacturers are increasingly turning to bio-based polyols to produce flexible foam, making it a more sustainable option for various industries.
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The furnishings segment was valued at USD 16.67 billion in 2018 and showed a gradual increase during the forecast period.
Regional Insights
APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Flexible foam is extensively utilized in various industries, including automotive and furniture sectors. In the automotive industry, it is employed for manufacturing automobile parts such as seats, armrests, and headrests. The increasing demand for comfortable and efficient automobiles is driving the usage of flexible foam in this sector. In the furniture and bedding industry, flexible foam is widely used due to its excellent cushioning properties. The growing population in Asia Pacific (APAC) region is leading to a rise in demand for bedding and furnishings. Additionally, the use of bio-based polyols in the production of flexible foam is gaining traction, particularly in APAC.
Furthermore, this eco-friendly alternative is preferred over traditional insulation materials like fiberglass and stone wool. Urbanization and industrialization in APAC are fueling the need for energy-efficient buildings, leading to an increased demand for insulation. Moreover, energy conservation is becoming a priority in countries experiencing power shortages, making insulation a viable solution for energy savings. Consequently, the market for flexible foam in APAC is expected to grow significantly.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Market Driver
The growth in the bedding and furniture industry is the key driver of the market. The market is witnessing significant growth due to the increasing demand for comfortable and supportive bedding and furnishing solutions. Automobile production, beds, mattresses, chairs, garden furniture, and carpet cushions are among the major applications of flexible foam. This material offers superior comfort and cushioning compared to traditional materials, making it an ideal choice for consumers seeking relaxation and superior sleep quality.
Furthermore, manufacturers in the bedding and furnishing industry are continuously innovating their product designs to cater to evolving consumer preferences. Flexible foam provides designers with the versatility to create ergonomic and aesthetically pleasing products that meet the demands of consumers for personalized solutions. Its ability to conform to the shape of the body and distribute pressure evenly makes it an excellent choice for various applications. Overall, the market is expected to grow steadily due to its numerous benefits and increasing consumer demand for comfortable and functional bedding and furnishing solutions.
Market Trends
The expansion of production capacity by companies is the upcoming trend in the market. The market is witnessing significant growth due to its extensive applications in various industries, including automobile production, beds and mattresses, chairs, garden furniture, and carpet cushions. Major companies in this market are expanding their production and sales by increasing the capacity at existing plants or opening new facilities.
Similarly, BASF SE and other leading companies are also increasing their production capacity to meet the growing demand for flexible foam products. These investments demonstrate the market's potential and companies' commitment to catering to the increasing demand for this versatile cushioning material.
Market Challenge
The growing competition from alternative materials is a key challenge affecting the market growth. The market encompasses the production and sale of cushioning materials used in various industries, including automobile production, beds and mattresses, chairs, garden furniture, and carpet cushions. Traditional flexible foam is commonly derived from petrochemicals, but alternative materials such as natural fibers, bio-based polymers, and recycled materials are gaining popularity due to their environmental benefits and sustainability credentials.
Furthermore, as consumers and businesses prioritize eco-friendly options in response to rising environmental concerns, the market is under pressure to innovate and adapt. Strict regulations and standards imposed by governments and regulatory bodies further incentivize the use of alternative materials, which may require additional investments in pollution control measures or the transition to more sustainable materials, increasing production costs for flexible foam manufacturers.
Exclusive Customer Landscape
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Key Companies & Market Insights
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
American Excelsior Inc - The company offers flexible foams such as Amexcoat Coated Foam, Crosslink Foam, Curlfoam, Curlfoam, Earth cell foam, Molded foams, Polyethylene foams, Specialty foams, and Viscool visco elastic foams.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
- American Excelsior Inc.
- BASF SE
- Covestro AG
- Dow Chemical Co.
- Greiner AG
- Huntsman International LLC
- INOAC Corp.
- Kaneka Corp.
- Mitsubishi Gas Chemical Co. Inc.
- ORSA foam Spa
- Rogers Corp.
- Sekisui Chemical Co. Ltd.
- Sheela Foam Ltd.
- Technomak
- Ube Corp.
- Wisconsin Foam Products
- Zotefoams plc
- FXI
- Recticel NV
- Woodbridge Foam Corp.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Research Analyst Overview
The market is witnessing significant growth due to its extensive usage as a cushioning material in various industries. Automobile production is a major consumer of flexible foam, with its application in automobile parts such as seats, armrests, headrests, and carpets. In the furniture and bedding industry, flexible foam is used in beds, mattresses, chairs, garden furniture, and carpet cushions. The lightweight nature of flexible foam makes it an ideal choice for the transportation sector, including cars, buses, and electric vehicles.
Furthermore, the polyurethane segment dominates the market, with polyurethane foams and polyurethane dispersions being the most commonly used types. Consumer preferences for eco-friendly and sustainable products have led to the development of bio-based polyols derived from renewable resources, such as castor oil, for the production of flexible foam. The construction industry also utilizes flexible foam for insulation purposes, with applications ranging from eco comfort insulation panels to insulation for homes and offices. Flexible foam is also used in the production of child stools and other consumer goods. The market is expected to grow further due to its versatility and the increasing demand for comfortable seating and insulation solutions.
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Market Scope |
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Report Coverage |
Details |
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Page number |
180 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.61% |
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Market growth 2024-2028 |
USD 18.75 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.87 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 41% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
American Excelsior Inc., BASF SE, Covestro AG, Dow Chemical Co., Greiner AG, Huntsman International LLC, INOAC Corp., Kaneka Corp., Mitsubishi Gas Chemical Co. Inc., ORSA foam Spa, Rogers Corp., Sekisui Chemical Co. Ltd., Sheela Foam Ltd., Technomak, Ube Corp., Wisconsin Foam Products, Zotefoams plc, FXI, Recticel NV, and Woodbridge Foam Corp. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Market Research and Growth Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
- Precise estimation of the size of the market and its contribution of the market in focus to the parent market
- Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
- Growth of the market across APAC, Europe, North America, Middle East and Africa, and South America
- Thorough analysis of the market's competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of market companies
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