PUBLISHER: The Business Research Company | PRODUCT CODE: 1270471
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270471
“Flexible Foam Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on flexible foam market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for flexible foam? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The flexible foam market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the flexible foam market are BASF SE, The Dow Chemical Company, HuntsmanCorporation, Ube Industries, Ltd., Recticel Flexible Foams, Zotefoams Plc, The Woodbridge Group, Sekisui Alveo AG, Covestro AG, Rogers Corporation, JSP Foam Products Pte. Ltd., ORSA Foam SpA, Bayer Material Science LLC, Mitsui Chemicals Inc., Kaneka Corporation, and Flexipol Foams Pvt. Ltd.
The global flexible foam market is expected to grow from $47.75 billion in 2022 to $51.18 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The flexible foam market is expected to grow to $65.10 billion in 2027 at a CAGR of 6.2%.
The flexible foam market consists of sales of open-cell polyurethane foam, closed-cell polyurethane foam, bio-based cross-linked polyethylene foam, and extruded polyethylene foam. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Flexible foam is a processed polymer or plastic composed of petroleum hydrocarbons and other organic compounds linked by urethane linkages. It is a polymer created through a chemical reaction between polyols and isocyanates. It has a cellular structure that allows some compression and resilience for having a cushioning effect.
Asia-Pacific was the largest region in the flexible foam market in 2022. The regions covered in the flexible foam report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of flexible foam are polyurethane (PU) foam, polyethylene (PE) foam, polypropylene (PP) foam, ethylene-vinyl acetate (EVA) and others. Polyurethane (PU) foam is a synthetic polymer that is produced from the reaction of polyols and isocyanates in the presence of a blowing agent and an amine (catalyst). The various densities include high density, medium density, and low density, and that are used in furniture and upholstery, automotive, packaging, building and construction, consumer goods and others.
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 utilised 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.
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.
In January 2022, Joyce's parent company, Sheela Group, an India-based manufacturer of PU Foam, acquired Interplasp for an undisclosed amount. This acquisition would strengthen the Group's position as one of the world's largest and most successful foam production companies. It also allows sharing of knowledge, resources, and inventions on a worldwide scale. Interplasp is a Europe-based manufacturer of flexible polyurethane foam.
The countries covered in the flexible foam market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The flexible foam market research report is one of a series of new reports from The Business Research Company that provides flexible foam market statistics, including flexible foam industry global market size, regional shares, competitors with a flexible foam market share, detailed flexible foam market segments, market trends and opportunities, and any further data you may need to thrive in the flexible foam industry. This flexible foam market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.