The Flexible Foam Global Market Report 2023, provides comprehensive information on the flexible foam market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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According to The Business Research Company’s Global Market Report for 2023 on Flexible Foam, the global flexible foam market is poised for remarkable growth, with projections indicating an increase from $47.75 billion in 2022 to an impressive $51.18 billion in 2023. This expected growth is underpinned by a robust compound annual growth rate (CAGR) of 7.2%. However, it is important to note that the global economy is facing challenges posed by the ongoing Russia-Ukraine conflict, which has had significant repercussions on the recovery from the COVID-19 pandemic, especially in the short term.
The conflict has triggered a cascade of economic sanctions imposed on multiple nations, resulting in a surge in commodity prices and disruptions in global supply chains. These disruptions have led to widespread inflation across various sectors, impacting the markets worldwide. Despite these challenges, the flexible foam market is anticipated to witness substantial expansion, with a projected market size of $65.10 billion by 2027, driven by a CAGR of 6.2%.
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Innovation stands out as a pivotal trend gaining prominence within the flexible foam market. Leading companies operating in this sector are dedicated to pioneering novel solutions to fortify their market positions. An exemplary case is that of Covestro AG, a distinguished German company renowned for its production of polyurethane and polycarbonate-based raw materials. In March 2021, Covestro AG unveiled a groundbreaking process for the chemical recycling of polyurethane (PU) flexible foam extracted from discarded mattresses. This innovation is an extension of their collaboration with the PUReSmart project led by the Recticel company.
Notably, each mattress contains an average of 15 to 20 kilograms of foam, making the recycling process all the more significant. What sets Covestro’s approach apart is its distinctive capability to recover both primary PU components. It is worth highlighting that the by-product, Isocyanate, which is a principal element produced during recycling, can now be efficiently regenerated in addition to polyol, further underscoring the company’s commitment to sustainability and environmental responsibility. This innovation not only aligns with global environmental goals but also showcases the adaptability and ingenuity of companies in the ever-evolving flexible foam market, where groundbreaking solutions are crucial to ensuring a sustainable and prosperous future.
The flexible foam market is segmented:
1) By Type: Polyurethane (PU) Foam, Polyethylene (PE) Foam, Polypropylene (PP) Foam, Ethylene-Vinyl Acetate (EVA), Other Types
2) By Density: High-Density, Medium-Density, Low-Density
3) By Application: Furniture And Upholstery, Automotive, Packaging, Building And Construction, Consumer Goods, Other Applications
Top 5 Major Players
Asia-Pacific was the largest region in the flexible foam market in 2022.
Table of contents:
1. Executive Summary
2. Flexible Foam Market Characteristics
3. Flexible Foam Market Trends And Strategies
4. Flexible Foam Market – Macro Economic Scenario
5. Flexible Foam Market Size And Growth
….
26. Africa Flexible Foam Market
27. Flexible Foam Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Flexible Foam Market
29. Flexible Foam Market Future Outlook and Potential Analysis
30. Appendix
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