Demand in flexible foam market to reach US$64.14 bln by 2026

17-Jan-17

The global flexible foam market is estimated to reach US$64.14 bln by 2026, at a CAGR of 5.99% from 2016 to 2026, as per Research and Markets. The market is driven by the increasing penetration of flexible foam in automobiles for weight reduction and in the packaging application due to its light weight and shock absorption properties.
Flexible polypropylene foam has excellent shock absorption, and thermal resistance; however, it has low chemical resistance when compared to competitive foams. Polypropylene foam is hence more suitable in the transportation sector. Specifically, automobile manufacturers are focusing on increasing the use of this foam in automobiles due to its unique properties.
Asia-Pacific is the fastest-growing market for flexible foam, in terms of both, value and volume. High growth rate, increased purchasing power, developing infrastructure, increasing demand from end-use industries, and the global shift in production capacity from developed markets to emerging markets are the major factors leading to the growth of the flexible foam market in this region.