Global Flexible Foams Market 2017-2021
About Flexible Foams
Polymer foams are broadly classified under thermosets or thermoplastics, which are further segmented into flexible and rigid foams. Thermoplastics can be broken down and recycled, whereas thermosets are hard to recycle owing to their heavily crosslinked structure. Flexible foams are primarily of three types: polyurethane, polyethylene, and polypropylene. Various other types of flexible foams are also used such as polyvinyl chloride foams, polystyrene foams, and polyolefin foams. Flexible foams are increasingly used as insulators because they are cost effective and restrict the transfer of heat.
Technavio’s analysts forecast the global flexible foams market to grow at a CAGR of 5.78% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global flexible foams market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of flexible foam.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Flexible Foams Market 2017-2021
Technavio recognizes the following companies as the key players in the global flexible foams market: BASF, Dow Chemical, Covestro, Huntsman, and JSP
Other Prominent Vendors in the market are: FXI, Rogers Corporation, Recticel, Woodbridge Foam Corporation (The Woodbridge Group), Ube Industries, Vita Group, and Zotefoams
Commenting on the report, an analyst from Technavio’s team said: “Low supply constraints in Europe, following the establishment of new flexible foam production facilities in China, will likely restrict the rising costs of production, thereby reducing the cost of the product. Established manufacturers in APAC provide high capacity utilization to cater to the growing demand from South America and Europe. This region is the largest consumer of flexible foam and accounted for 43.3% of the global flexible foam consumption in 2016. However, the consumption of flexible foam in the other regions is also likely to increase during 2017-2021.”
According to the report, despite the volatile growth in the real estate sector in China, the rapid development of rail and road infrastructure by the government to sustain fast-growing industrial sectors has resulted in significant growth of the construction industry in recent years. The construction industry in China is dominated by state-owned enterprises. The increased spending by the government on construction propelled the country to the forefront in the global scenario. Even the volatile real estate sector had shown great promise during the second half of the last decade, and currently, accounts for nearly one-third of the overall share in the global construction industry.
Further, the report states that raw materials such as polyol and diisocyanates (TDI and MDI) are the major cost items in the production of flexible foams especially polyurethane flexible foams. Several chemicals that are used in manufacturing foams are derived from crude oil. Thus, volatility in crude oil prices has been a key factor that is hampering the market growth for flexible foam. In 2016, Dow Polyurethanes Europe, Middle East & Africa and India announced the rise in prices for all its polyol, MDI, and TDI products in Europe, the Middle East, Africa, and India, which was effective from May 1, 2016. Therefore, fluctuations in raw material prices are negatively affecting the financial performance of vendors in the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- https://www.technavio.com/report/global-flexible-foams-market-2017-2021
BASF, Dow Chemical, Covestro, Huntsman, JSP, FXI, Rogers Corporation, Recticel, Woodbridge Foam Corporation (The Woodbridge Group), Ube Industries, Vita Group, and Zotefoams
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