Flexible Foam Market size to grow by USD 15.06 billion from 2022 to 2027|High demand from emerging economies drives the market - Technavio

NEW YORK, July 19, 2023 /PRNewswire/ -- The flexible foam market size is expected to grow by USD 15.06 billion from 2022 to 2027, progressing at a CAGR of 6.2% as per the latest Technavio market research report. APAC is estimated to account for 42% of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. During the forecast period, the region is expected to witness significant market growth, primarily driven by increased consumption of flexible foam in the packaging and transportation industries, particularly in emerging economies like India. The region's infrastructural developments, combined with China's emergence as a global manufacturing hub, are further contributing to the rising demand for flexible foam. Additionally, the growing e-commerce industry in APAC will propel the use of flexible foam for packaging heavy goods. Furthermore, vendor investments in countries such as India and China will positively impact the regional market's growth during the forecast period. For more insights on the market share of various regions- Download a sample report in MINUTES

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Flexible Foam Market: Growth in bedding and furniture industry driven by expanding population to drive growth

The high demand from emerging economies is a significant factor driving market growth. The global market is experiencing significant growth in emerging economies, including Brazil, Turkey, Indonesia, South Korea, Mexico, and India. These countries are attracting original equipment manufacturers due to factors such as abundant land, affordable labour, low transportation costs, and favorable government regulations. Moreover, the bedding and furniture, building and construction, transportation, electronics, and packaging industries in these economies are witnessing growth, further driving the demand for flexible foam. Additionally, the rise in disposable incomes and evolving lifestyles in these regions contribute to the increased demand for flexible foam across various applications. As a result, these factors are expected to propel market growth during the forecast period.

Flexible Foam Market: Expansions Of Production Capacity By Vendors 

The growing focus on the production of bio-based flexible foams is an emerging trend shaping market growth. The global market is projected to witness a rise in the production of bio-based flexible foam in the coming years. This is primarily driven by key players in the market who are adopting bio-based materials as a more environmentally-friendly alternative to chemicals like TDI, MDI, and PMDI. These players are actively investing in research and development to develop eco-friendly bio-based flexible foam options. For instance, INOAC's Polyolefin foam incorporates 25% or more plant-based raw materials in its manufacturing process. As a result, the increasing focus on developing bio-based flexible foam by vendors will contribute to the market's growth during the forecast period.

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Some of the key Flexible Foam Market Players:

The flexible foam market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Some of the key vendors are:

American Excelsior Inc., BASF SE, Covestro AG, Dow Inc., FXI, Greiner AG, Huntsman Corp., INOAC Corp., Kaneka Corp., Mitsubishi Gas Chemical Co. Inc., ORSA foam Spa, Recticel NV, Rogers Corp., Sekisui Chemical Co. Ltd., Sheela Foam Ltd., Technomak, Ube Corp., Wisconsin Foam Products, Woodbridge Foam Corp., and Zotefoams Plc.

Flexible Foam Market: Segmentation Analysis

This market research report segments the flexible foam market by application (Furnishings, Transportation, Packaging, and Others), type (Polyurethane flexible foams, Polyethylene flexible foams, Polypropylene flexible foams, and Others), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

• The market share growth by the furnishings segment will be significant during the forecast period. Flexible foam, known for its softness, durability, shape retention, and excellent support, finds wide application in cushions and mattresses. Manufacturers can produce flexible foam with varying densities to meet specific requirements. This ensures that padded bedding products offer both comfort and support. In addition to household bedding, flexible foam is utilized in hospital furniture, office chairs, stadium seats, auditorium seats, and other upholstered furniture. For carpet cushioning, flexible foam enhances the lifespan and comfort of carpets by providing a desired underfoot feel without excessive thickness. This is applicable in both residential and commercial settings. Moreover, flexible foam offers benefits such as thermal insulation, easy carpet maintenance, and recyclability. With the global population steadily increasing and disposable incomes rising, coupled with a growing demand for luxury bedding and furniture and the popularity of pillow-top mattresses, the furniture and bedding applications of the global market are expected to experience significant growth during the forecast period.

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The Global Polyurethane (PU) Foam Market size is estimated to grow at a CAGR of 7.63% between 2022 and 2027. The size of the market is forecast to increase by 6.84 million tons. This report extensively covers market segmentation by application (furniture and bedding, building and construction, transport, appliances, and others), Type (flexible PU foams, rigid PU foams, and molded PU foams), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The increasing demand for PU foams in furniture and bedding is notably driving market growth.

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global flexible foam market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global flexible foam market 2017 - 2021 ($ billion)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Furnishings - Market size and forecast 2022-2027
• Exhibit 34: Chart on Furnishings - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Furnishings - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Furnishings - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Furnishings - Year-over-year growth 2022-2027 (%)

• 6.4 Transportation - Market size and forecast 2022-2027
• Exhibit 38: Chart on Transportation - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Transportation - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Transportation - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Transportation - Year-over-year growth 2022-2027 (%)

• 6.5 Packaging - Market size and forecast 2022-2027
• Exhibit 42: Chart on Packaging - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Packaging - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Packaging - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Packaging - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027
• Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Application 
• Exhibit 50: Market opportunity by Application ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 51: Chart on Type - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 53: Chart on Comparison by Type
• Exhibit 54: Data Table on Comparison by Type

• 7.3 Polyurethane flexible foams - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Polyurethane flexible foams - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Polyurethane flexible foams - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Polyurethane flexible foams - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Polyurethane flexible foams - Year-over-year growth 2022-2027 (%)

• 7.4 Polyethylene flexible foams - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Polyethylene flexible foams - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Polyethylene flexible foams - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Polyethylene flexible foams - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Polyethylene flexible foams - Year-over-year growth 2022-2027 (%)

• 7.5 Polypropylene flexible foams - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Polypropylene flexible foams - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on Polypropylene flexible foams - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on Polypropylene flexible foams - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Polypropylene flexible foams - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027
• Exhibit 67: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Type 
• Exhibit 71: Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 73: Chart on Market share by geography 2022-2027 (%)
• Exhibit 74: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 75: Chart on Geographic comparison
• Exhibit 76: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 85: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 93: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 109: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 110: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 111: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027
• Exhibit 113: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 114: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 115: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 116: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 117: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 118: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 119: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 120: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 121: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 122: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 123: Matrix on vendor position and classification

• 12.3 American Excelsior Inc. 
• Exhibit 124: American Excelsior Inc. - Overview
• Exhibit 125: American Excelsior Inc. - Product / Service
• Exhibit 126: American Excelsior Inc. - Key offerings

• 12.4 BASF SE 
• Exhibit 127: BASF SE - Overview
• Exhibit 128: BASF SE - Business segments
• Exhibit 129: BASF SE - Key news
• Exhibit 130: BASF SE - Key offerings
• Exhibit 131: BASF SE - Segment focus

• 12.5 Covestro AG 
• Exhibit 132: Covestro AG - Overview
• Exhibit 133: Covestro AG - Business segments
• Exhibit 134: Covestro AG - Key news
• Exhibit 135: Covestro AG - Key offerings
• Exhibit 136: Covestro AG - Segment focus

• 12.6 Dow Inc. 
• Exhibit 137: Dow Inc. - Overview
• Exhibit 138: Dow Inc. - Business segments
• Exhibit 139: Dow Inc. - Key news
• Exhibit 140: Dow Inc. - Key offerings
• Exhibit 141: Dow Inc. - Segment focus

• 12.7 Huntsman Corp. 
• Exhibit 142: Huntsman Corp. - Overview
• Exhibit 143: Huntsman Corp. - Business segments
• Exhibit 144: Huntsman Corp. - Key news
• Exhibit 145: Huntsman Corp. - Key offerings
• Exhibit 146: Huntsman Corp. - Segment focus

• 12.8 INOAC Corp. 
• Exhibit 147: INOAC Corp. - Overview
• Exhibit 148: INOAC Corp. - Product / Service
• Exhibit 149: INOAC Corp. - Key offerings

• 12.9 Kaneka Corp. 
• Exhibit 150: Kaneka Corp. - Overview
• Exhibit 151: Kaneka Corp. - Business segments
• Exhibit 152: Kaneka Corp. - Key offerings
• Exhibit 153: Kaneka Corp. - Segment focus

• 12.10 Mitsubishi Gas Chemical Co. Inc. 
• Exhibit 154: Mitsubishi Gas Chemical Co. Inc. - Overview
• Exhibit 155: Mitsubishi Gas Chemical Co. Inc. - Business segments
• Exhibit 156: Mitsubishi Gas Chemical Co. Inc. - Key offerings
• Exhibit 157: Mitsubishi Gas Chemical Co. Inc. - Segment focus

• 12.11 ORSA foam Spa 
• Exhibit 158: ORSA foam Spa - Overview
• Exhibit 159: ORSA foam Spa - Product / Service
• Exhibit 160: ORSA foam Spa - Key offerings

• 12.12 Recticel NV 
• Exhibit 161: Recticel NV - Overview
• Exhibit 162: Recticel NV - Business segments
• Exhibit 163: Recticel NV - Key offerings
• Exhibit 164: Recticel NV - Segment focus

• 12.13 Rogers Corp. 
• Exhibit 165: Rogers Corp. - Overview
• Exhibit 166: Rogers Corp. - Business segments
• Exhibit 167: Rogers Corp. - Key offerings
• Exhibit 168: Rogers Corp. - Segment focus

• 12.14 Sekisui Chemical Co. Ltd. 
• Exhibit 169: Sekisui Chemical Co. Ltd. - Overview
• Exhibit 170: Sekisui Chemical Co. Ltd. - Business segments
• Exhibit 171: Sekisui Chemical Co. Ltd. - Key offerings
• Exhibit 172: Sekisui Chemical Co. Ltd. - Segment focus

• 12.15 Sheela Foam Ltd. 
• Exhibit 173: Sheela Foam Ltd. - Overview
• Exhibit 174: Sheela Foam Ltd. - Product / Service
• Exhibit 175: Sheela Foam Ltd. - Key offerings

• 12.16 Ube Corp. 
• Exhibit 176: Ube Corp. - Overview
• Exhibit 177: Ube Corp. - Business segments
• Exhibit 178: Ube Corp. - Key offerings
• Exhibit 179: Ube Corp. - Segment focus

• 12.17 Zotefoams Plc 
• Exhibit 180: Zotefoams Plc - Overview
• Exhibit 181: Zotefoams Plc - Business segments
• Exhibit 182: Zotefoams Plc - Key offerings
• Exhibit 183: Zotefoams Plc - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 184: Inclusions checklist
• Exhibit 185: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 186: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 187: Research methodology
• Exhibit 188: Validation techniques employed for market sizing
• Exhibit 189: Information sources

• 13.5 List of abbreviations 
• Exhibit 190: List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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