Global Flexible Foam Market to Reach US$ 70.8 Billion by 2032, Accelerated by Increasing Product Demand in the Automotive Industry

July 12, 2023 | Chemical & Materials

As per the latest report by IMARC Group, titled "Flexible Foam Market Report by Type (Polyurethane (PU) Foam, Polyethylene (PE) Foam, Polypropylene (PP) Foam, Ethylene-Vinyl Acetate (EVA), and Others), Application (Furniture and Bedding, Transportation, Packaging, Construction, Consumer Goods), and Region 2024-2032," the global flexible foam market size reached US$ 47.8 Billion in 2023. Flexible foam is a versatile material widely used in umpteen industries due to its unique properties and benefits. It is created through a complex manufacturing process that involves the combination of different chemicals and additives. The main component in its production is polyurethane (PU), which is mixed with a blowing agent, creating gas bubbles within the material during the reaction process. These bubbles result in a lightweight and spongy structure that gives the foam its distinct softness and flexibility. One of the significant advantages of flexible foam is its adaptability. It can be easily molded into various shapes and sizes, making it ideal for a wide range of products. Additionally, its soft and cushioning properties make it an excellent choice for insulation purposes, both thermal and acoustic. When compared to other materials, it offers several advantages, such as enhanced comfort and flexibility, excellent support and pressure relief, superior cushioning properties, and wear and tear resistance. It also offers better resistance to moisture, chemicals, and microorganisms, making it more durable and long-lasting. Currently, there are different types of flexible foam available, each with its specific characteristics and applications, including polyurethane, memory, and latex foam.

Global Flexible Foam Market Trends:

The global market is accelerated by the escalating demand for flexible foam in the automotive industry, primarily for seating and interior applications. This is further bolstered by the growth of the bedding and furniture industry across the globe. Moreover, the growing popularity of lightweight materials in packaging applications has surged the demand for flexible foam as a protective and cushioning solution, creating a positive outlook for the market. In line with this, the escalating product demand in the healthcare sector in manufacturing medical devices and equipment is strengthening the market growth. Furthermore, the rising consumer preference for comfortable and luxurious bedding products and the growing awareness regarding energy-efficient insulation materials are supporting the market growth. Besides this, the expansion of the aerospace and aviation industries has increased the demand for flexible foam in aircraft interiors for enhanced comfort and safety, providing an impetus to the market growth. Additionally, the booming e-commerce industry and the development of eco-friendly and sustainable flexible foam materials are contributing to the market growth. Looking forward, the market value is projected to reach US$ 70.8 Billion by 2032, expanding at a CAGR of 4.36% during 2024-2032.

Market Summary:

By the type, the market has been segmented into polyurethane (PU) foam, polyethylene (PE) foam, polypropylene (PP) foam, ethylene-vinyl acetate (EVA) foam, and others.
Based on the application, the market has been segregated into furniture and bedding, transportation, packaging, construction, and consumer goods.
On the basis of the region, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the industry has also been examined with some of the key players being American Excelsior Company, BASF SE, Covestro AG, Dow Inc., Huntsman Corporation, INOAC Corporation, Kaneka Corporation, Recticel, Sekisui Chemical Co. Ltd., UBE Corporation, Woodbridge and Zotefoams PLC.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Type, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	American Excelsior Company, BASF SE, Covestro AG, Dow Inc., Huntsman Corporation, INOAC Corporation, Kaneka Corporation, Recticel, Sekisui Chemical Co. Ltd., UBE Corporation, Woodbridge and Zotefoams PLC
Customization Scope	10% Free Customization
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Global Flexible Foam Market to Reach US$ 70.8 Billion by 2032, Accelerated by Increasing Product Demand in the Automotive Industry

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