Flexible Foam Market to grow at 7.5 % CAGR till 2025

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Flexible Foam Market to grow at 7.5 CAGR till
2025 Global Market Insights Inc.
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Industry Overview

• Flexible Foam Market to surpass USD 65 billion by
  2025 driven by increasing utilization of thermal
  insulation in the construction industry Rapid
  growth in the automotive and transportation
  industry. Strong outlook with versatile end-user
  applications including furniture upholstery,
  packaging, construction, consumer goods, bedding,
  pillows, mattresses, carpet cushion, automotive
  interiors etc., are among key factors driving the
  flexible foam market growth. Features such as
  lightweight, high resiliency, durability, and
  improved safety comfort will enhance the
  product scope in end-use applications. Shifting
  focus of the manufacturers towards development of
  products using bio-based materials will further
  stimulate the product demand.
• Increasing disposable income along with rising
  inclination of consumers towards the purchase of
  luxurious interiors will propel the flexible foam
  market demand. Growing demand for memory and
  viscoelastic foam in bedding and mattress
  products along with rapid expansion in the
  flexible packaging industry owing to the enhanced
  protection against vibration during shipping will
  propel the industry growth. Also, increasing
  focus of manufacturers towards developing
  lightweight and fuel-efficient vehicles provides
  a positive outlook for the industry growth.

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• Growing demand for the product in furniture and
  upholstery applications to provide improved
  cushioning, low water absorption, good mechanical
  strength and absorption of static stress will
  enhance the market penetration. Favourable
  regulations provided by government bodies
  regarding the use of thermal insulation materials
  in the construction sector globally will fuel the
  industry expansion. For instance, the
  International Energy Conservation Code (IECC) has
  set a standard criterion to qualify in the
  national program through the construction of
  energy-efficient buildings with efficiency level
  between 40 to 50 percent compared to other
  houses. However, fluctuation of raw material
  costs and stringent regulations regarding the use
  of hazardous raw materials during the
  manufacturing of the product may hamper the
  demand.
• Polyurethane dominated the flexible foam market
  and accounted for over 60 of the overall demand
  in 2018. Polyurethane is widely used in numerous
  applications such as automotive interior
  components, lightweight automotive parts,
  cushioning in beddings and upholstery and as
  thermal insulation products in buildings etc.
  Features such as enhanced cushioning,
  lightweight, durability, lower installation time,
  increased shelf life and high resiliency are
  among key properties expected to drive the
  flexible polyurethane foam demand.

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Asia Pacific flexible foam market, By Type, 2018
2025, (Million Tons)

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Industry Coverage

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• Furniture upholstery end-use segment accounted
  for over USD 10 billion in 2018. Increasing
  number of restaurants with improved cushioning
  and comfort requirement supported by high
  consumer spending on luxurious interiors will
  positively influence the flexible foam market
  revenues. Technological advancements in flexible
  foam materials have fueled the applications scope
  in the past few years. Recent product
  developments in the flexible foam products have
  enabled the manufacturers to develop smart memory
  or viscoelastic products that provide better
  durability, longer product life and protection
  against allergens and microorganisms.
• Asia Pacific dominated the flexible foam market
  and accounted for over 30 of the overall demand
  in 2018. Surging consumer spending on luxurious
  products and consumer goods coupled with the
  rising demand for memory foams in beddings and
  mattresses will proliferate the regional industry
  growth. Significant growth in the regional
  construction industry owing to an increasing
  disposable income, and favourable FDI policies
  are propelling the regional growth during the
  forecasted timeframe. Growing hospitality
  industry, particularly in South-East Asian
  countries including Malaysia, Thailand,
  Indonesia, Vietnam, and Singapore owing to
  favourable FDI policies, will stimulate the
  market development.

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• BASF, Covestro AG, Huntsman International, Dow
  Chemical Company and Recticel are among major
  flexible foam manufacturers. Global industry
  share is highly fragmented with the presence of
  multinational and regional players. The
  manufacturers are involved in production capacity
  expansions, mergers acquisitions, and new
  product launches, to gain a competitive share.
  For instance, in October 2014, Sekisui Chemical
  announced to invest USD 3 million in the
  manufacturing facilities in Coldwater, Michigan
  to cater the growing demand from the North
  American market.

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