Flexible Foam Market Growth Outlook Seems Modest with a CAGR of 5.2% During 2020-2027

Infrastructural development, favorable public-private partnerships, and expansion of residential & commercial sector have boosted the growth of the market.

OREGON, PORTLAND, UNITED STATES, March 17, 2022 /EINPresswire.com/ -- Surge in demand for polyurethane foam from building & construction industry for building insulation to conserve the energy drives the growth of the global flexible foam market. Based on region, Asia-Pacific contributed to the highest share in 2019, and will maintain its dominance throughout the forecast period.

The global flexible foam industry was pegged at $44.0 billion in 2019, and is projected to reach $61.3 billion by 2027, growing at a CAGR of 5.2% from 2020 to 2027.

Rapid technological advancements and penetration of international infrastructure players in developing economies are expected to create lucrative opportunities for the market players in the coming years.

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COVID-19 impact analysis:

The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The flexible foam market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the flexible foam market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the flexible foam market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.

Based on application, the furniture & bedding segment accounted for the largest share in 2019, holding more than two-thirds of the total share, and is expected to maintain the its top status throughout the forecast period. However, the packaging segment is expected to register the highest CAGR of 7.2% from 2020 to 2027.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧: @ https://www.alliedmarketresearch.com/request-for-customization/7008

By region, the global flexible foam market across Asia-Pacific held the largest share in 2019, contributing to nearly half of the market. Moreover, the region is expected to register the highest CAGR of 5.6% during the forecast period, due to presence of diverse end-use industries in various regions including packaging, automotive, and packaging industries. On the other hand, the market across North America is expected to register a CAGR of 4.7% during the forecast period.

Major Inclusions-

• Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
• Analysis at country and regional level, which portrays the share of the product or service in different regions.
• Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
• The forecasted market outlook of the flexible foam market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
• The COVID-19 impact on the flexible foam market
• Post-sales support and free customization

Leading market players analyzed in the research include Covestro AG, BASF SE, Huntsman Corporation, The Dow Chemical Company, Sekisui Chemical Co. Ltd., INOAC Corporation, The Woodbridge Group, Recticel NV, and Rogers Corporation.

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