Furniture Foam Market Statistics, Overview And Forecast 2024

The furniture foam global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Furniture Foam Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The furniture foam market size has grown strongly in recent years. It will grow from $55.37 billion in 2023 to $58.61 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to the growing demand for comfortable and durable furniture, increasing consumer preference for customizable furniture solutions, rising disposable incomes leading to higher spending on home furnishings, growing real estate sector boosting furniture sales and increasing awareness of health benefits associated with high-quality foam products.

The furniture foam market size is expected to see strong growth in the next few years. It will grow to $74.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to the expansion of e-commerce platforms facilitating furniture purchases, the surge in home renovation and interior design activities, increasing focus on sustainable and eco-friendly materials in furniture, growth of the hospitality and healthcare sectors requiring specialized foam solutions and advancements in foam technology improving product performance and comfort. Major trends in the forecast period include the rising popularity of memory foam and gel-infused products, increasing integration of smart technology in furniture designs, growing preference for modular and multifunctional furniture, expansion of online retail channels for foam products and enhanced focus on recycling and sustainable production practices in the foam industry.

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Scope Of Furniture Foam Market

The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Furniture Foam Market Overview

Market Drivers –

The rising residential and commercial building projects are expected to propel the growth of the furniture foam market going forward. A residential building is designed primarily for people, such as houses, apartments, or condos. A commercial building is used for business purposes, such as offices, retail stores, or warehouses. The rise in residential and commercial building projects can be attributed to several key factors, such as economic growth, government policies and incentives, and post-pandemic recovery. Furniture foam is used in residential and commercial building projects for seating, mattresses, and cushioning, providing comfort and durability in furniture and interior design applications. For instance, in July 2024, according to Trading Economics, a US-based economic indicator, around 621 thousand units of single-family houses were sold in May 2024, increasing to 668 thousand units in June and 739 thousand units in July. This represents a 7.6% growth from May to June and an additional 10.6% increase from June to July. Therefore, rising residential and commercial buildings are driving the furniture foam market.

Market Trends –

Major companies in the furniture foam market are focusing on developing advanced materials such as recycled polyurethane (PU) foam to gain a competitive advantage. Flexible polyurethane (PU) foam is a versatile and lightweight material widely used in various industries, particularly furniture, bedding, automotive, and packaging. It is created by combining polyols and diisocyanates through a chemical reaction, resulting in a foam that is both flexible and resilient. For instance, in January 2024, The Vita Group, a UK-based manufacturer of flexible PU foam solutions, launched its Orbis, a flexible polyurethane (PU) foam. Orbis is partially made from post-consumer foam mattresses, making it an environmentally responsible option. This foam reduces the need for landfill or incineration and maintains the quality, durability, and comfort expected from traditional PU foam. The Vita Group highlights that Orbis contributes to reducing carbon footprints and supports a circular economy, aligning with global sustainability goals. The foam is suitable for bedding and furniture applications and is commercially available in standard ether and high-resilience foam.

The furniture foam market covered in this report is segmented –

1) By Product Type: Polyurethane Foam, Latex Foam, Other Types

2) By Category: Rigid, Flexible

3) By Application: Chair, Sofa, Beds, Recliners, Other Applications

4) By End-Use: Building And Construction, Automotive, Hospitals, Other End-Uses

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Regional Insights –

Asia-Pacific was the largest region in the furniture foam market in 2023. The regions covered in the furniture foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –

Major companies operating in the furniture foam market are BASF SE, The Dow Chemical Company, Huntsman International LLC, Carpenter Co., Recticel, Future Foam Inc., Sheela Foam Ltd., Flexible Foam Products Inc., Foamcraft Inc., EPE International Ltd., Vitafoam Nigeria Plc, Raunak Group, Foam Products Corporation, Cenflex, COZILY, Master Foam, American Foam Products Inc., GIANTEX, Forever Enterprises, FEBERICA, FOVERA

Table of Contents

1. Executive Summary

2. Furniture Foam Market Report Structure

3. Furniture Foam Market Trends And Strategies

4. Furniture Foam Market – Macro Economic Scenario

5. Furniture Foam Market Size And Growth

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27. Furniture Foam Market Competitor Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis

30. Appendix

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