LONDON--(BUSINESS WIRE)--The flexible foam market is expected to grow by USD 12.36 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The global population has been rising exponentially due to several factors such as the reduced mortality rate, improved medical facilities, increased lifespan, etc. This growth in population across regions is leading to a higher demand for basic household products, including bedding, cushions, pillows, and upholstered furniture. This in turn, is contributing to the growth of the bedding and furniture industry, which is expected to drive the demand for flexible foams.
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As per Technavio, the growing focus on the production of bio-based flexible foams will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Global Flexible Foam Market: Growing Focus On The Production Of Bio-based Flexible Foams
The growing focus on the production of bio-based flexible foams is one of the key trends in the flexible foams market. With vendors seeking to minimize the harmful effect of chemicals on the environment, this market is expected to witness a surge in the production of bio-based flexible foams. Additionally, vendors are also substituting their production techniques with sustainable methods to enhance their portfolio with green and economical products. They are also investing in R&D to develop eco-friendly bio-based flexible foams. The market vendor, BLOOM Holdings has developed a biologically sustainable high-performance substitute to petroleum-based flexible foams.
“Factors such as the growth in construction industry, and investments in R&D will have a significant impact on the growth of the flexible foam market value during the forecast period,” says a senior analyst at Technavio.
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Flexible Foam Market: Segmentation Analysis
This market research report segments the flexible foam market by type (polyurethane, polyethylene, polypropylene, and others) and geographic landscape (APAC, Europe, North America, MEA, and South America).
The APAC region led the flexible foam market in 2019, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the high population growth, and increased consumption of flexible foams in the rapidly growing automotive industry.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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