Global Flexible Foam Market 2017-2021: Geographic Segmentation by Technavio

06-May-2017 Intellasia | BusinessWire | 5:23 AM Print This Post

LONDON–(BUSINESS WIRE)–#ChemicalsandMaterials–The global
flexible foam market
is expected to grow at a CAGR of close to
6% during the forecast period, according to Technavio’s latest market
research.


In this market research report, Technavio
covers the market outlook and growth prospects of the global flexible
foam
market for 2017-2021. The market is further
categorized into three major application segments, which include
furniture and bedding, transportation and packaging. The furniture and
bedding segment dominated the market with more than 41% of the overall
market share in 2016.

“The global flexible foams market is likely to grow at a significant
rate during the forecast period due to the increasing demand for
lightweight vehicles from the transportation industry such as
automotive, railway, and aerospace. These foams are increasingly used in
packaging applications for their shock absorption and lightweight
properties,”
says Chandrakumar Badala Jaganathan, a lead plastics,
polymers, and elastomers
research expert from Technavio.

Technavio’s research analysts segment the global flexible foam market
into the following regions:

  • APAC
  • Europe
  • North America
  • ROW

Flexible foams market in APAC

Flexible foam is largely used for mattresses and cushions. High
population growth in APAC is leading to high demand for bedding and
furnishing. Urbanization and industrialization along with the need for
energy-efficient buildings are enhancing the need for insulation. Energy
efficiency provided by insulation is one of the primary drivers for
market growth in APAC.

Also, there is a high demand for televisions, refrigerators, and air
conditioners from APAC countries such as China, Cambodia, and Vietnam,
which is expected to fuel the market for flexible foam in the next five
years.

“The flexible foams market in APAC is likely to grow at the fastest
CAGR in comparison with the other geographical segments due to the
increased consumption of flexible foams in the rapidly growing
automotive industry in the emerging economies, especially India,”
says
Chandrakumar.

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Technavio reports answer key questions relating to market size and
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businesses assess their competitive position.

Flexible foams market in Europe

The demand for flexible foam is growing in Western Europe driven by the
major end-user industries such as bedding and furniture, building and
construction, transportation, electronics, and packaging. The European
construction sector is rebounding after the economic downturn during the
2008-2009 recession. France, Germany, the UK, Spain, and Italy were
among the ten largest construction markets in Western Europe in 2015.
The demand for flexible foams from thermal insulation panels in the
construction sector was high from these countries.

The bedding and furniture industry in Europe is witnessing rapid growth
in the demand for foam mattresses over spring ones. These factors are
propelling the demand for flexible foams in the region and will continue
to do the same during the forecast period.

Flexible foams market in North America

The automotive sector in North America is growing steadily. Automobile
manufacturers are focusing on lightweight fuel-efficient vehicles.
Increasing automotive production in this region is expected to impel the
market for flexible foams.

Rising concerns regarding high electricity cost, greenhouse emissions,
and subsequent loss of energy have facilitated the rise of
energy-efficient residential and commercial buildings. High demand for
flexible foams in North America is anticipated to be primarily driven by
the growing construction industry across the US, Canada, and Mexico. The
refrigeration market in North America is also witnessing increasing
demand for flexible foams in the region.

Flexible foams market in ROW

ROW includes countries in the South and Central America, the Middle
East, and Africa. The flexible foams market in this region is growing
steadily due to the increase in construction activities, growth in
automobile production, and availability of cheap land, labor, and
resources.

In Central and South America, the availability of cheap labor, low
transportation costs, and less stringent government regulations are
attracting original equipment manufacturers from other regions to
establish manufacturing units in the region. This will further escalate
the demand for flexible foams in Central and South America during the
forecast period.

The top vendors in the global flexible foam market as highlighted in
this market research analysis are:

  • BASF
  • Dow Chemical
  • Covestro
  • Huntsman
  • JSP

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

If you are interested in more information, please contact our media team
at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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+1 630-333-9501
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www.technavio.com

 


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