How Is the Increased Demand for Furniture Driving Flexible Foam Market Trends? : By Key Players BASF SE, Covestro AG, JSP Corporation, the DOW Chemical Company
Surging penetration of the internet worldwide has led to the dependence on e-commerce owing to the availability of a variety of products, convenience in shopping, reduced prices and growing reachability. Development in products such as viscoelastic flexible foams providing improved comfort and moisture resistance will supplement flexible foam market size over the years.
Ocean View, DE -- (SBWire) -- 05/22/2020 --Global flexible foam market size is predicted to witness remarkable growth in the forthcoming years owing to the rise in disposable income among people which steers the demand for luxury beddings and other consumer goods. The use of the product in various industries such as furniture and upholstery, packaging, construction and transportation will positively influence flexible foam industry outlook in the coming years.
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Frontrunners in the Flexible Foam Market:
BASF SE, Covestro AG, JSP Corporation, The DOW Chemical Company, Huntsman International, Rogers Corporation, Woodbridge Foam Corporation, Recticel, SEKISUI CHEMICAL Co. Ltd., ZOTEFOAMS, INOAC Corporation, Vita Cellular Foams, ORSA foam Spa, Carpenter Co, Kaneka Corporation, Changzhou Xingang Plastic Products Co. Ltd., Greiner Foam International, Sheela Foam, American Excelsior Company
Demand for memory and viscoelastic foam in mattresses and bedding products coupled with the burgeoning flexible packaging industry owing to improved protection against movement during shipping will fuel the market growth. Moreover, increased efforts of the manufacturers towards providing lightweight and fuel-efficient vehicles will support the production of flexible foams.
Durability, improved safety, high resiliency, lightweight and comfort are some of the pivotal factors increasing the application of the product across several industries. Growing aim of the manufacturers to develop bio-based materials will complement the product demand.
Surging penetration of the internet worldwide has led to the dependence on e-commerce owing to the availability of a variety of products, convenience in shopping, reduced prices and growing reachability.
Development in products such as viscoelastic flexible foams providing improved comfort and moisture resistance will supplement flexible foam market size over the years.
Polyurethane is witnessing widespread demand owing to its significant use in numerous sectors such as cushioning in beddings, automotive interior components, lightweight automotive parts and thermal insulation items in buildings. Lightweight vehicles have gained more focus due to lower emissions, which will help meet carbon reduction targets.
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In 2018, polyurethane segment held more than 60% of the total flexible foam market size. Lower installation time, enhanced shelf life, lightweight, improved cushioning, durability and superior resiliency are some of the vital characteristics of the material.
Increasing consumer spending capacity demanding innovations in various consumer products such as premium cushion technology in emerging nations such as South Africa, India and UAE will facilitate a robust business outlook from the furniture end-use.
Flexible foam market share from furniture and upholstery segment is estimated to register notable gains of 6% CAGR between 2018-2025.
Constant technological developments to meet the changing consumer demands in the furniture segment has led to the development of viscoelastic products by leading industry participants that render superior protection from allergens and microorganisms, longer product life and better durability. Innovations and the use of technology in the furniture and upholstery segment will bolster the global flexible foam market forecast.
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