Flexible Foam Market Analysis

Flexible Foam Market Analysis

Polyurethane dominated the flexible foam market and accounted for over 60% of the overall demand in 2018. Key features such as lightweight enhanced cushioning and sealing, improved thermal insulation, environmental benefits including recyclability, reduction in wastage, and higher sustainability will augment the product demand. Properties such as superior resistance to moisture and heat, excellent thermal insulation and protection against corrosion will make the product ideal for construction applications in the roofs and walls of buildings.
 

Polyethylene accounted for more than 25% of the total flexible foam market share in 2018 owing to key features such as lightweight, high resiliency, superior resistance to tearing, cracking, and crumbling. Increasing construction business in both residential and commercial sector owing to various city & town modernization and development plans in both developing and developed nations will steer the product demand. Strong application scope in building & construction, protective packaging, automotive and medical sector will proliferate the industry expansion.
 

Furniture & upholstery end-use segment accounted for over USD 10 billion in 2018. Increasing disposable income in developing nations coupled with shifting consumer buying patterns owing to changing lifestyles will stimulate the demand for furniture & upholstery. Rising investments in residential construction supported by technological advancements offering highly resilient, durable, air permeable and lightweight furniture and increasing demand for memory and viscoelastic foam in bedding and mattress products will further drive the flexible foam demand in both developed and developing economies.
 

Transportation end-use segment will witness gains at over 8% CAGR in terms of volume up to 2025. Growing transportation industry particularly in automotive & aerospace owing to increase in disposable income, strong economic growth, rise in count of tourists supported by increasing consumer spending on leisure & experiences are among the key factors driving the flexible foam market revenue up to 2025. Also, extensive usage for the cushioning of seats in public transportation such as buses, trams, trains, and taxis will drive the market share over the forecast period.
 

Asia Pacific is projected to be the dominating region in the overall flexible foam market over the forecast time frame owing to the surging demand for the product from the diverse end user industries present in the region such as furniture, packaging, consumer goods and automotive. Increasing green building technologies penetration in construction sector along with rapid growth in the automotive industry will boost the regional growth. China is expected to dominate the market in the region owing to the increased foreign direct investments in the country.
 

Latin America accounted for over 8% of the market share in 2018 driven by the surging demand from the automotive industry coupled with rapid urbanization and industrialization in the region. Moreover, growing demand for the demand from the consumer goods sector along with rapid industrialization in countries such as Mexico and Brazil will further promulgate the overall flexible foam market growth across the region. North America Flexible Foam industry is estimated to exhibit a CAGR of 5.8% from 2022 to 2028 owing to the rapidly growing furniture industry.