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Global Flexible Foam Market to Reach About USD 58.2 Billion by 2026, Aided by the Extensive Use of Flexible Foam in the Packaging Industry

According to a new report by EMR titled, ‘Global Flexible Foam Market Report and Forecast 2021-2026’, the global market for flexible foam attained a value of about USD 42 billion in 2020. The industry is further expected to grow at a CAGR of 5.6% in the forecast period of 2021-2026 to reach a value of approximately USD 58.2 billion by 2026.

The growth of the flexible foam industry is being aided by the growing demand for flexible foams in the packaging industry. Flexible foams are extensively deployed in the packaging of fragile products, such as jewellery, electronic parts, and food and beverages, which is consequently surging their demand. Moreover, the shock resilience, water resistance, and lightweight of flexible foams are increasing their use in packaging applications, further augmenting the industry growth. As the packaging industry is projected to grow robustly due to the advent of online shopping platforms and business to consumer solutions, the demand for flexible foam is expected to increase. In addition, the rising demand for packaging of consumer electronics products is anticipated to provide further impetus to the growth of the flexible foam industry in the forecast period.

BASF SE (OTCMKTS: BASFY), one of the leading companies in the market, expanded its range of melamine resin foam Basotect with the launch of Basotect UF+ in December 2019. The foam has improved emission properties that replace Basotect UF while enhancing the application of flexible foam. It is ideal for the insulation of rail vehicles and heating, ventilation, and air-conditioning (HVAC) technology in buildings. As it is lightweight and flexible, it effectively reduces the noise level of the facilities. Moreover, it provides high elasticity, low density, and low thermal conductivity without releasing mineral fibres during processing. It also enables solutions to fit into small gaps, compact spaces, and curved spaces, along with meeting the highest safety requirements. The development of such innovative products is increasing the demand for flexible foam, which is propelling the market growth.

Market Analysis by Type, Application, and Region:

  • The market, on the basis of type, can be divided into polyurethane (PU) foam, polyethylene (PE) foam, polypropylene (PP) foam, and ethylene-vinyl acetate (EVA), among others.
  • Based on application, the industry can be divided into furniture and bedding, transportation, packaging, construction, and consumer goods.
  • The regional markets for flexible foam include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing demand for flexible foams in furniture and bedding applications due to their expansion, cushioning, and lightweight properties are augmenting the market growth.
  • The market growth is being aided by the increasing use of polyurethane (PU) foams in the insulation of floors, ceilings, and walls in buildings. 
  • The rising demand for flexible foams in the automotive sector to enhance durability, comfortability, protection, and fuel efficiency of automobiles is propelling the industry growth.
  • The extensive deployment of flexible foams in the body of vehicles to provide insulation from noise and heat of the engines is further bolstering the growth of the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for flexible foam for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, applications, and major regions of flexible foam.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global flexible foam market are BASF SE, Covestro AG, Huntsman Corporation, INOAC Corporation, and Recticel Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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