Enjoy complimentary customisation on priority with our Enterprise License!
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's growth rate is influenced by multiple factors, notably the expansion of the bedding and furniture industry, driven by evolving consumer preferences. High demand for these foams from emerging economies contributes significantly to market expansion, reflecting the increasing adoption of modern lifestyles. Additionally, there's a growing preference for lightweight materials across various sectors, further propelling the market forward. These trends underscore the market's adaptability to changing consumer needs and its pivotal role in meeting the demand for versatile and efficient materials in diverse applications. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
Flexible foam is a type of polymer foam that can be broadly classified under thermosets and thermoplastics. It is used in cushioning for a broad range of applications, including furniture, bedding, transportation, and packaging.
To Know more about the market report Request Free Sample
The market encompasses a wide range of applications across various industries, including the Automotive, Construction, Furniture, and Packaging sectors. In the Automotive industry, it is utilized as cushioning material for seats, armrests, and car beds, enhancing comfort in cars and electric vehicles. The Automobile production sector also employs it in the manufacturing of automobile parts, such as EcoComfort insulation panels, which provide thermal insulation and noise reduction. It is also a popular choice in the Furniture industry for cushion seats in beds, mattresses, chairs, and garden furniture. The material's flexibility and ability to absorb shock make it an ideal cushioning solution. Elastomers, a type of flexible foam, are extensively used in the Construction industry for insulation and sound absorption. Polyurethane and Polyethylene Foam are common types of it used in various applications. The Transportation sector, including the Automotive and Aviation industries, heavily relies on it for its lightweight, durable, and insulating properties. It's versatility makes it a valuable resource in numerous industries, contributing significantly to the global market. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Growth in the bedding and furniture industry is notably driving market growth. The market encompasses various industries, including automotive, furniture, and bedding, among others. Flexible foams, such as polyurethane foam and dispersions, serve as essential cushioning materials in automobile production for seats, armrests, headrests, and carpets. In the furniture and bedding sector, these lightweight materials offer superior comfort and support for beds, mattresses, chairs, garden furniture, and carpet cushions. The automotive and construction industries benefit from it due to their low carbon emissions and versatility in creating ergonomic designs.
Additionally, the market includes applications in the auto industry, offices, homes, packaging industry, and consumer goods, such as cushion seats for electric vehicles and child stools. Bio-based polyols and elastomers contribute to the growth of the polyurethane segment in this market. Overall, the bedding and furnishing industry's expansion, coupled with it's unique properties, is expected to drive substantial growth during the forecast period.
Expansion of production capacity by companies is an emerging trend shaping market growth. The global market is witnessing significant growth as major companies, including Sekisui Chemical Co. Ltd. and BASF SE, expand their production and sales capacity. This expansion is driven by the increasing demand for it in various industries such as automotive, furniture and bedding, construction, and the automobile parts sector. It is widely used as a cushioning material in automobiles for seats, armrests, headrests, and carpets. It is also utilized in beds, mattresses, chairs, garden furniture, carpet cushions, and automobile parts. companies are focusing on increasing production capacity through capacity expansions at existing plants and opening new facilities.
For instance, in January 2023, BASF SE announced the expansion of defoamer capacity at its Dilovasi plant in Turkey. The company can better meet the growing demand for high-performance Foamaster and Foamstar products in Southeast Europe, the Middle East, and Africa owing to the new production line, which expands the company's on-site capacity. Such factors can increase the production and sales of flexible foam and, in turn, accelerate the growth of the market during the forecast period.
Volatility in raw material prices of flexible foam is a significant challenge hindering market growth. The market, particularly the Polyurethane foam segment, is facing growing pressure from consumers and regulatory bodies to adopt more eco-friendly alternatives. Traditional foam, derived from petrochemicals, is being replaced with natural fibers, bio-based polymers, and recycled materials in various industries.
Moreover, these include the automotive industry for automobile production, furniture and bedding for cushioning materials in beds, mattresses, chairs, garden furniture, and carpets, as well as in automobile parts such as seats, armrests, and headrests. The construction industry, furniture industry, building industry, homes, offices, and packaging industry also utilize it for cushion seats and insulation. This can negatively impact market share and profitability in the long term, which may impede the growth of the market during the forecast period.
The market share growth by the furnishings segment will be significant during the forecast years. The market encompasses various industries, including Automotive, Furniture and Bedding, Construction, and Packaging. Flexible Foam, a type of Polyurethane foam, is a popular cushioning material used in Beds and Mattresses, Chairs, and Garden furniture. It is also utilized in Automobile production for Seats, Armrests, and Headrests, as well as in Carpet cushions. It's lightweight nature and ability to adapt to different shapes cater to Consumer preferences. The Polyurethane segment, which includes Flexible Foams, Polyurethane foams, and Polyurethane dispersions, dominates the market.
Get a glance at the market contribution of the End User segment Request Free Sample
The furnishings segment was the largest and was valued at USD 16.67 billion in 2018. Key raw materials include Methylene diphenyl diisocyanate and Bio-based polyols. The market extends to the Automotive industry, with applications in Cars, Electric vehicles, and Child stools. Additionally, Flex Foam is used in the Furniture industry for Cushion seats, as well as in the Building industry and Homes and Offices. The market also caters to the Packaging industry. In the Automotive sector, it reduces Carbon emissions by improving the energy efficiency of vehicles. The constant increase in the global population and high disposable income, along with growing demand for luxury bedding and furniture and more popularity of pillow-top mattresses, are expected to drive the growth of the market through the segment during the forecast period.
Based on the type, the market has been segmented into polyurethane flexible foams, polyethylene flexible foams, polypropylene flexible foams, and others. The polyurethane flexible foams segment will account for the largest share of this segment.? The market for it, particularly polyurethane, experiences significant growth due to its extensive applications in various sectors. Notably, the automotive industry utilizes this foam in the production of EcoComfort insulation panels, enhancing vehicle comfort and energy efficiency. In addition, this segment is employed in the manufacturing of seating and bedding, providing comfort and durability. Furthermore, it is used in packaging, construction, and automotive interiors, including EVA foam applications. The demand for polyurethane segment in healthcare equipment, footwear, and personal care items is also expected to elevate the growth of the segment in the market during the forecast period.
APAC is estimated to contribute 41% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.
For more insights on the market share of various regions Request Free Sample
The market in APAC is experiencing significant growth due to increasing population and rising demand for bedding and furnishings. This market encompasses various types of flexible foams, including Polyethylene Foam, Polypropylene Foam, and EVA Foam. These foams find extensive applications in sectors such as automotive for seating and insulation with EcoComfort insulation panels. Additionally, in the construction industry, they are utilized for insulation purposes, contributing to energy efficiency and conserving energy in countries facing power shortages. Furthermore, the packaging sector also benefits from the use of it for protective cushioning. Thus, the growing developments by companies in the region are expected to drive the growth of the regional market during the forecast period.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or 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 elestic foams.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market 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, and 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.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.
The Market is a significant sector in the global materials industry, with key players such as Autoclave Engineered Products, Carpenter Technology, Chrysler Group LLC, Cushioning Technologies, Gardner Denver, Mattex Industries, and Mattracks. These companies specialize in the production and distribution of various types of it, including polyurethane and polyolefin foam. It is used in a wide range of applications, including automotive seating, bedding, packaging, and industrial applications. The material's unique properties, such as its ability to absorb shock and provide cushioning, make it a popular choice for these applications.
The market landscape depends on Bio based polyols, Carbon dioxide based polyols, Furniture and bedding industry and Consumer goods industry. The market for it is driven by several factors, including increasing demand for comfortable and durable seating in the automotive industry, growing demand for lightweight and cost-effective packaging solutions, and the expanding use of it in various industrial applications. Additionally, advancements in technology have led to the development of new types of it, such as flame-retardant and high-density foam, which offer enhanced performance and functionality. Overall, the market is expected to grow significantly in the coming years, driven by increasing demand from various end-use industries and the continuous development of new and innovative foam products.
Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.61% |
Market Growth 2024-2028 |
USD 18.75 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.87 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 41% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.