by The global consumer foam market is poised for substantial growth, driven by a surge in construction projects focusing on green building initiatives and expanding applications across various industries. According to the United States Green Building Councils research, buildings are responsible for a significant portion of carbon dioxide emissions, making green building practices a priority. As the worlds population continues to urbanize, construction activities are expected to increase, further boosting the demand for consumer foam products.
Rising Demand in Construction and Furniture Industries
Green buildings prioritize energy, water, and material efficiency, which bodes well for consumer foam products that offer environmentally beneficial and resource-efficient solutions. With nearly 90% of urbanization expected in Asia and Africa by 2050, construction activities are set to soar, providing a significant growth opportunity for the consumer foam market. Additionally, consumer foams applications are expanding into consumer electronics, the automotive industry, and various appliances, contributing to its robust growth.
Flexible Foam Leading the Way
Flexible foam is projected to be the fastest-growing segment within the consumer foam market, thanks to its versatility and cost-effectiveness. This type of foam finds extensive use in furniture applications, including child stools, office wall partitions, and bookshelves, due to its lightweight, antimicrobial properties, and ability to mold into various shapes. The rising demand for furniture, driven by increasing purchasing power and improved product durability, is expected to fuel the growth of the flexible foam market.
Asia Pacific Emerging as a Key Market
Asia Pacific is anticipated to be the fastest-growing region in the consumer foam market. Factors such as rising demand from various sectors, an optimistic manufacturing outlook, favorable government policies, and increased foreign direct investment are driving growth in the region. The construction boom in China, the worlds largest construction market, and Indias significant foreign direct investment in the construction sector are contributing to this growth. Moreover, Asia Pacifics role as a manufacturing hub for automobiles is boosting the demand for flexible foam in the automotive industry.
Competitive Landscape
Key players in the global consumer foam market include DuPont, Covestro AG, BASF SE, Dow Inc., Icynene-Lapolla, Trelleborg AB, Sekisui Chemical Co., Ltd., Huntsman Corporation, FoamPartner Group, Chemtura Corporation, Saint-Gobain, Recticel NV/SA, and Rogers Corporation. These companies are actively seeking strategic acquisitions and partnerships to strengthen their positions in the market.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/consumer-foam-market
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This press release first seen on Brilad
COMTEX_441973429/2840/2023-10-16T10:49:18
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
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