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Flexible foams are polymer foams composed of hydrocarbon chains and other organic functional groups. These foams exhibit various properties like flexibility, insulation, lightweight, sturdy nature, shock absorption, longitivity, and other physical properties. They are generally employed in various application areas including thermal insulation, furniture and bedding, automotive seating and interiors. In construction sector they are used for pipelines, forging, slabs, doors, roof boards and other applications. Increasing demand from packaging sector shall aid in market growth.
Increasing demand for flexible foams from multiple end-use sectors like automotive, building & construction, consumer goods, packaging and others shall boost the market growth. Increasing demand of flexible foam in automotive applications attributed to its exceptional properties and aesthetic appeal is anticipated to drive the market. Additionally, increasing adoption of flexible foam in constructional activities to support lower energy consumption by buildings shall positively impact market growth.
However, fabrication of flexible foam produces certain hazardous emissions which damage the environment. Stringent regulation imposed by government regarding emission of CFCs, HCFCs and use of raw materials like MDI and TDI is expected to hinder the market growth.
Key Market Driver -
Increasing demand from end-use sectors.
Key Market Restraint -
Stringent regulations enforced by government.
Based on type the market is segmented into polyurethane, polypropylene, and polyethylene. Based on end-use, market is segmented into furniture & upholstery, automotive, packaging, building & construction, consumer goods, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global flexible foam market consists of global & regional players operating. Some of the key players in the market include BASF, Covestro AG, Zotefoams plc., Mitsui Chemicals, Huntsman International, JSP, Dow Chemical Company, Recticel, Ube Industries and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia pacific is expected to hold prime share in market. Increasing constructional activities in developing nations like India, Bangladesh, South Korea shall boost the regional growth. North America is expected to show significant growth in forecast period attributed to the various initiatives carried out by government. For instance, US has implemented the idea of Zero Energy Building (ZEBs) which contribute less to the greenhouse emissions. Europe is expected to show considerable growth owing to the increasing demand from automotive sector. Latin America and Middle East & Africa is anticipated to exhibit sluggish growth by the end of forecast period.
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