Summary
Major players in the consumer foam market are Covestro AG, BASF SE, JSP Corporation, Dow Inc., Huntsman Corporation, Sekisui Chemical Co Ltd., Saint-Gobain, Trelleborg AB, Borealis AG, Kaneka Corporation, Woodbridge, Hanwha Chemical Corporation, ACH Foam Technologies LLC, Mitsui Chemicals Inc., Arkema, Loyalty Group Limited, SABIC, and Toray Industries.
The global consumer foam market is expected to grow from $36.52 bllion in 2022 to $39.11 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global consumer foam market is expected to reach $49.61 billion in 2027 at a CAGR of 6.1%.
The consumer foam market consists of sales of foam that are used in furniture cushioning, bedding, carpet underlay, and mattresses.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The consumer foam refers to a substance containing many tiny air bubbles that become frothy or thick.These foams cushion is used in various consumer and commercial products, including bedding, furniture, and automotive interiors.
It provides superior protection and safeguarding for fragile items throughout distribution chains.
Asia-Pacific was the largest region in the consumer foam market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the consumer foam report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of consumer foams are flexible and rigid foam.The flexible foam refers to providing cushioning for a range of commercial and consumer products.
Flexible foam is a polymer with a cellular structure that exhibits compression and resilience properties and is produced by the reaction of polyols and isocyanates. The various types of resins include polystyrene, polyurethane, phenolic, polyolefins, and others, which are used in bedding and furniture, automotive, consumer electronics and appliances, footwear, sports and recreational products, and others (beauty and personal care, apparel, and household cleaning) .
The increasing demand for foam in the bedding and furniture industry is expected to propel the consumer foam market going forward.Bedding refers to a piece of furniture used for sleeping.
The furniture industry refers to businesses that manufacture and sell furniture.The foam mattresses are becoming popular because of their comfort factor.
In recent years, the market has introduced various products that enable consumers to reshape or inter-change the foam layers based on their preferred comfort level.Foam is used in cushions and mattresses to provide durable and comfortable shapes to customers.
For instance, in August 2022, according to digital commerce 360, a media reporting and analysis company, Online mattress sales grow 20.5% in 2021 Therefore, the increase in the need for foam in the bedding and furniture industry will drive the consumer foam market.
The growing use of bio-based polyols is a key trend in the consumer foam market.Bio-based polyols refer to polyols manufactured from renewable and sustainable resources.
Major companies are manufacturing consumer products using foams made up of bio-based polyols to increase sustainability and reduce carbon emissions.For instance, in November 2021, Stora Enso, a Finland-based pulp, and paper industry company, launched bio-based packaging foam from woods.
The materials are completely recyclable and can be used for protective and thermal packaging. These lightweight wood foams meet the demand for cushioning materials that are environmentally friendly, renewable, and circular in inner packaging.
In April 2020, Greiner Bio-One, a UK-based medical equipment manufacturer, acquired Eurofoam for an undisclosed amount.With this acquisition of Eurofoam Group, Greiner will integrate its foundation for ongoing successful growth in the foam business.
Eurofoam Group is a Europe-based manufacturer of flexible polyurethane foam.
The countries covered in the consumer foam market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified) .
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The consumer foam market research report is one of a series of new reports that provides consumer foam market statistics, including consumer foam industry global market size, regional shares, competitors with a consumer foam market share, detailed consumer foam market segments, market trends and opportunities, and any further data you may need to thrive in the consumer foam industry. This consumer foam market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
