Flexible Foam Market Bonded to a Striking Growth by 2023

Pune, India, January 22, 2018/MRFR Press Release/- Market Research Future Published a Half-Cooked Research “Global Flexible Foam Market Research Report - Forecast to 2023” - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022 to 2030.    

BASF SE (Germany), Bayer AG (Germany), The Dow Chemical Company (U.S.), Huntsman International LLC (U.S.), Covestro AG (Germany), Mitsui Chemicals, Inc. (Japan), 3M (U.S.), Woodbridge Foam Corporation (Canada), UBE INDUSTRIES, LTD. (Japan) and Recticel (Belgium) among others are some of the prominent players at the forefront of competition in the Global Flexible Foam Market and are profiled in MRFR Analysis.

Flexible Foam Market – Market Overview:

The global flexible foam market is growing with the instantaneous pace; mainly due to the burgeoning construction industries. According to a recent study report published by the Market Research Future, the global market of flexible foam is booming and expected to gain strong popularity over the forecast period. The market is estimated to demonstrate a remarkable growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the forecasted period (2022 to 2030).

Globally, the market for flexible foam is driven by the region North America, due to existence of leading companies and the growing need for the product in various sectors. The product is utilized in automotive components such as dashboards, armrests, airbags, and others. Additionally, the lightweight materials are also consumed in the end-use applications such as flooring, furnishings, and others due to advantages such as reliable, durable, and cost-effective nature offered by the product.

Increasing demand for the product in applications such as car seats, bumpers, spoilers, door and windows signifies the growth of automotive industries. Moreover, growing consumption of product due to unique features offered by the product such as comfort, enhanced fuel economy, corrosion resistance, insulation along with sound absorption provide a boost to the flexible foam market growth.

On the other hand, extensive use of the product in bedding, building insulation, footwear and paints is projected to propel the market growth during the forecast period.

Flexible foam are used in various end-use industries such as automotive, construction & buildings, textiles, packaging, wood & furniture, and others. They are also utilized in major sectors due to their ease of application, recyclable, and versatile nature. The growing demand of these polymers has prompted the manufacturers and investors to shift their focus from heavy materials to bio-compatible products in end-use applications. Additionally, the expanding construction industry along with the production of lightweight materials in the established companies have resulted into a remarkable growth in the market during the forecast period.

Flexible Foam Market-

Regional Analysis:

Geographically, North America is leading the global flexible foam market. The U.S. holds the major portion owing to rising infrastructure developments coupled with technological advancement in the major sector. Increasing consumption of flexible foam in furnishings, beddings, automotive interiors, packaging, shock absorbers, and others has boosted the market demand in Canada, and Mexico. Asia Pacific has witnessed a significant growth in the market owing to rapid urbanization coupled with technological advancement in end-use industries. A notable growth has been received by the European region due to boundless use of the product in various sectors such as automotive, packaging and aerospace industries. The market is growing significantly in the Middle East & Africa due to rising adoption of flexible polymers in end-use industries. Additionally, the Latin America is estimated to witness a stagnant growth due to economic slowdown and lack of standardization in the region.        

Flexible Foam Market- Competitive Landscape:

The flexible foam market appears to be competitive with the presence of several large and small players operating in manufacturing and development of product. These key players compete with each other’s on the basis of quality, price, production and innovation. Flexible foam market is set to grow at a significant rate which is likely to attract many entrants to the market resulting into healthy competition in the future. Manufacturers operating in the flexible foam market are striving their level best to respond to an increase in demand for the product from automotive, construction & buildings, aerospace, packaging, wood & furniture, and other sectors attributed to growing production capacity in major sectors. They ensure to deliver the best quality products based on innovative technologies, solutions and best practices.

Industry/ Innovation/ Related News:

December 21, 2016 – BASF SE (Germany), one of the leading producers of flexible foam, declared that the company has launched air tight insulation solution to impart cost-effective nature and superior performance to the vehicles. Due to recently developed Elastoflex® polyurethane insulation system, the spray applied, open cell flexible polyurethane foam has ability to create a seamless and airtight seal utilized in bus’s interior cabin. One of the sources of the company also announced that the application of this product has helped to minimize the heat loss, reduce the level of noise and vibration. Therefore, these factors are expected to drive the market over the assessment period.

August 8, 2016 – The Dow Chemical Company (U.S.), one of the prominent manufacturers of flexible foam, declared that the company has launched a new polyurethane integral skin foam and this product was developed to lower the global warming potential by up to 99.9%. This product has excellent lightweight, flexible, adhesion to a variety of materials, mechanical properties, shell life, and others. Therefore, these factors are expected to drive the market over the assessment period.

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