North America Flexible Foam Market size to be worth over $11 billion by 2028

According to a new research study published by Global Market Insights Inc., the North America Flexible Foam Market size is expected to exceed USD 11 billion by the end of 2028. The implementation of severe laws and policies to promote the need for energy efficient materials has been identified as a key factor driving market expansion.
 

Flexible foams are used in automotive applications to improve fuel efficiency and reduce carbon footprint, which will help the sector thrive. Furthermore, the increased need for flexible foams in building insulation to meet energy-saving regulations will open up new doors for industry players.
 

Technological advancement will play a crucial role in shaping the market. The lack of differentiation among the products has resulted in manufacturers resorting to technology to improve the key product aspects such as chemical resistance, sound insulation, resilience, water resistance, and thermal resistance to gain consumer confidence. For instance, the development of viscoelastic flexible foams provides enhanced comfort and moisture resistance, fostering product demand in the automotive & furniture industry.
 

The North America flexible foam market is not void of challenges. Market expansion will be hampered by regulations on hazardous emissions created during product production, as well as restrictions on the usage of raw ingredients such as MDI and TDI. Furthermore, because the majority of the raw materials used are downstream derivatives of crude oil, fluctuating crude oil prices will be a big stumbling block for the sector.
 

Increasing demand for polypropylene flexible foam

North America flexible foam market from polypropylene foams will generate a revenue of over USD 1.3 billion by 2028. Polypropylene foams are made up of a synthetic thermoplastic polymer with high molecular weight. Favorable features such as absorption, chemical inertness, structural strength, and acoustical and insulation properties will augment its usage across industries. The automotive industry has high utilization of the product. The product is widely used for sound deadening and thermal insulation in vehicles. In addition, the ability of the product to sustain multiple impacts and return to its original state with minimal deformation has enhanced its demand for safety applications, thereby driving product demand.
 

Packaging is another vital end-use industry that will witness strong demand for the product over the foreseeable future. It is mainly used to package sensitive equipment such as circuit boards, electronics, delicate consumer goods, jewelry, and other luxury goods. The lightweight nature of the product reduces the overall weight of the package, minimizing transportation costs and fueling its adoption. In addition, these foams are also water resistant, impact resistant and protect the packages from vibrations during transit, making them an attractive option for the packaging industry.
 

Browse key industry insights spread across 150 pages with 88 market data tables & 21 figures & charts from the report, “North America Flexible Foam Market Size, Share and Industry Analysis Report by Type (Polyurethane [Polyester, Polyether], Polyethylene [Cross Linked, Non-cross Linked], Polypropylene, Silicone, Ethylene-Vinyl Acetate (EVA), Melamine, Polyvinylidene Fluoride (PVDF)), By End-Use (Furniture & Upholstery, Packaging, Construction, Consumer Goods [Clothing & Footwear, Household & Personal Care], Transportation [Automotive, Railway, Aerospace]), Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/north-america-flexible-foam-market
 

North America flexible foam demand for transportation

The transportation segment will witness around 6% CAGR over the forecast timeframe. The growing transportation industry, particularly the aerospace sector, owing to increasing disposable incomes, strong economic growth, rising tourist count, and increasing consumer spending on leisure experiences is expected to boost the flexible foam industry landscape up to 2028. For instance, according to Boeing, 42,730 new commercial airplanes are projected to be sold from 2018 to 2037. In addition, as per the United Nations World Tourism Organization, 1.5 billion global international tourist arrivals were recorded in 2019.
 

Favorable government initiatives to attract foreign direct investments in the country along with the rise in the government expenditure on infrastructure and construction activities will drive the market for flexible foams in Canada. For instance, in March 2017, the Canadian government announced the launch of the Canada Infrastructure Bank, to attract new investments and support partners with new funding options in construction projects across the country.
 

Top players in the North America flexible foam industry are BASF, Covestro, DOW Chemical, Huntsman, Rogers Corp, The Woodbridge, INOAC Corp, Carpenter, Kaneka, and American Excelsior Company. Manufacturers are concentrating on the expansion of their production capabilities owing to the growing demand for luxury furniture in the country. For instance, Armacell announced opening a new PET flexible foam core production plant in Canada to serve the growing demand for PET flexible foams in Canada & international markets.