Flexible Foam Market – Global Industry Analysis, Market Size Estimation and Growth Forecast By Form Factor (Slabstock, Moulded & other), By Types (Polyurethane Such As Polyester & Polyether Foam, Polyethylene, Polypropylene etc), By Application (Furniture & Bedding, Packaging, Transportation, Footwear, Aerospace & Defense etc) & By Regions (North America, Europe, Asia Pacific, Middle East & Africa, Latin America), 2017 – 2025

Flexible Foam Market - Introduction

The global flexible foam market is expected to grow at a significant rate during the forecast period 2017 to 2025. Flexible foam market is segmented in terms of form factor, types, application and geography. Flexible foam covers polyurethane, polyethylene and polypropylene foams which can be molded easily to different shapes and offer high degree of flexibility. Flexible foam has applications in furniture manufacturing, automotive component engineering, footwear production and packaging material development among others. Rising demand for flexible foam in the automotive body part engineering is one of the prime growth drivers for the market. Increase in the application of flexible foam as cushioning material for different consumer and commercial products is acting as a major push factor for the growth of the market. Rise in acceptance of flexible polyurethane foam in textile industry is acting driver for growth of the market.

Report Overview
Aspect Details
Base Year of Estimation 2016
Value Estimation Year 2017
Forecast Period 2017 - 2025
Market Segmentations By form factor, types, application and geography
Regional Scope North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and Latin America
Report Coverage Technology Analysis, Market Dynamics, Market Trends, Segmentation Overview and Competitive Landscape of the market

 

Technology Analysis

Most of the flexible foams are produced through either continuous or discontinuous method. Flexible foams can be produced in three types of forms such as slabstock, moulded and integral. Slabstock foams are mostly used to develop lower density products and these products are used for cushioning and packaging applications. Low density of slabstock foams ensures comfort while used in furniture manufacturing. Moulded foams are generally produced using ‘oyster’ type moulds, where mixture of chemical reactants are poured and curing of the foam is done in closed system. Moulded foams have interim range of densities and suitable for load-bearing applications. Both hot and cold curing processes have application in production of moulded foams. Integral skin foam is characterized with high density outer skin and low density core. Major applications of integral skin foam include automotive component and footwear manufacturing.

 

Market Dynamics

Based on chemical structure, flexible polyurethane foams can be divided into polyether foams and polyester foams. These two types of polyurethane foams have applications in automotive, packaging and engineering sector. Furthermore, application of polyurethane foam in aerospace & defense and construction sector is expected to increase in coming years. Flexible polyurethane foams offer high strength-to-weight ratio, durability and insulation properties. Due to such properties, usage of polyurethane foam decreases energy consumption of different building parts and contribute to environment sustainability. Owing to such beneficial applications of flexible polyurethane foam, its application in construction and manufacturing sector is set to rise in coming years.

Flexible closed cell polypropylene foam offers higher strength and lightweight applications as compared to most of the available flexible foam alternatives. Due to such physical properties, demand for flexible polypropylene foam in packaging, cushioning and automotive body part manufacturing is growing at a healthy rate. This trend is expected to continue in coming years.

In coming years, environmentally sustainable and high performance flexible foam is expected to emerge as a growth opportunity for the market.

Banning on use foam based packaging products in some countries; concerns over non-recycling of polyurethane foams and volatility of raw material prices have negatively affected the growth of flexible foam market. In coming years, environmentally sustainable and high performance flexible foam is expected to emerge as a growth opportunity for the market during the forecast period 2017 to 2025.

 

Market Trends

In automotive and engineering sector, consumption of flexible foam is growing owing to rise in automotive production, rising concern over passenger safety and urge for using light material among major stakeholders.

Revenue gain of Asia Pacific region flexible foam market is mostly caused by growth in demand from the automotive sector.

Growth in demand of partially flexible low-density polyethylene foam in electronic component manufacturing, energy conserving packaging and cushioning application is identified as the long-term growth driver of the market. Revenue gain of Asia Pacific flexible foam market is mainly caused by growth in demand from automotive sector, concentration of local flexible foam producers and rise in construction activities among others. In terms of market structure, the fragmented nature of flexible foam market is resulted due to the presence of large numbers of small players commanding a significant share of the flexible foam market.

 

Segmentation Overview

By form factor, the flexible foam market has been segmented as slabstock, moulded and other. In terms of revenue, slabstock and moulded flexible foam contributed the largest share of the flexible foam market in 2016. In terms of types, the market has been segmented into polyurethane, polyethylene, polypropylene and others. Polyurethane flexible foam has been further segmented into polyester and polyether foam. By application, flexible foam market has been segmented into furniture and bedding, packaging, transportation, footwear, aerospace & defense and others.

By geography, the market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and Latin America. In terms of revenue, Asia Pacific held the largest share of the flexible foam market. In Asia Pacific, volume consumption of flexible foam is driven by growth in the automotive sector, rising demand of flexible foam in furniture and bedding and rapid application penetration flexible polypropylene foam in the packaging sector.

Market Segmentation Overview
By Term Segments
By Form Factor Slabstock, moulded and other
By Types Polyurethane such as polyester and polyether foam; polyethylene; polypropylene and others
By Application Furniture and bedding, packaging, transportation, footwear, aerospace & defense and others
By Geography North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and Latin America

 

Competitive Landscape

Leading players operating in the flexible foam market are BASF SE (Germany), DOW Chemical Company (the U.S.), Rogers Corporation (the U.S.), Covestro AG (Germany), Huntsman Corporation (the U.S.), Zotefoams PLC (the U.K.) and Mitsui Chemicals (Japan). In North America, concentration of flexible foam producer is significantly high whereas, in Asia Pacific, the market is dominated by local players having a strong distribution channel.

 

Conclusion

Considering the rising demand for flexible foam in the automotive sector, product innovation by leading players and rise in demand of polymer form in construction sector of emerging economies, it has been estimated that the market for flexible foam is about to grow in coming years. Due to the conjoint impact of mentioned push factors, flexible foam market is estimated to experience significant growth during the forecast period.

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KEY QUESTIONS ANSWERED BY THE REPORT
What will be the nature of growth of the market till 2025?
What are the major push factors that will affect the growth of the market?
What are the growth possibilities in different segments of the market?
Who are the leading market players?
What are the key strategies implemented by the market leaders to sustain growth in the market?
What are the major restraining factors for the market?
What are the ways to generate new revenue streams?
In-depth analysis of the competitive landscape and competitor behavior in the market

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