Selbyville, Delaware, April 11, 2022 (GLOBE NEWSWIRE) -- As per the latest research report by Global Market Insights Inc., the North America Flexible Foam Market was estimated at USD 7.60 billion in 2021 and is expected to reach a valuation of around USD 11 billion by 2028, progressing at a CAGR of 5.8% from 2022 to 2028. The report provides a detailed analysis of drivers & opportunities, wavering market trends, top winning strategies, market size & estimations, competitive scenario, and major investment pockets.
Soaring emphasis on energy conservation and developing green building norms have boosted product adoption in the construction sector. Notable product developments by manufacturers in order to comply with stringent environmental regulations are likely to create massive growth potential for the market. Moreover, the growing furniture & upholstery industry driven by increasing income levels, coupled with beneficial properties of flexible foam like acoustic insulation and sound dampening, is set to fuel market growth through the forecast period.
Request for Sample Report: https://www.gminsights.com/request-sample/detail/5234
Ethylene-vinyl acetate (EVA) is the copolymer of vinyl and ethylene acetate that creates rubber-like flexible and soft materials. It is non-toxic and is utilized in a wide range of semi-finished goods and end-use segments. Key features of EVA, such as toughness, resilience, transparency, flexibility, and resistance, are foreseen to boost product demand. Furthermore, mounting demand from several industries, including foam, agriculture, packaging, and footwear sectors, is set to impel product sales. Driven by these factors, the ethylene-vinyl acetate (EVA) type segment is anticipated to progress at more than 4.5% CAGR over the review timeline.
On the other hand, the North America flexible foam market share from the polyvinylidene fluoride (PVDF) segment is slated to expand at a robust pace through 2028. PVDF refers to a closed-cell foam and offers advanced chemical resistance and low thermal conductivity, which is primed to bolster segmental demand in the coming years.
Key reasons for North America flexible foam market growth:
- Rising demand in packaging industry.
- High usage in furniture & upholstery sector.
- Growing uptake in construction applications.
- Increasing use in clothing & footwear products.
2028 forecasts show ‘construction’ segment retaining its dominance:
In terms of end-use, the construction segment is speculated to reach a sizable valuation by the end of 2028. In 2021, North America construction spending exceeded USD 1.68 trillion and is projected to grow at a CAGR of approximately 3.9% through 2028. Flexible foam finds notable application in the construction industry, particularly within walls, roofs, and thermal insulation panels of buildings. The growing construction sector, coupled with increasing consumer awareness pertaining to energy conservation, would enhance the usage of thermal insulation in construction applications, which is set to foster segmental outlook.
Request for the customization of this report: https://www.gminsights.com/roc/5234
U.S. to maintain top status in terms of revenue:
On the regional spectrum, the U.S. flexible foam market is expected to attain a sizable share in the overall industry revenue by 2028. The proliferating construction sector in the U.S. is slated to promote regional market development in the future.
Impact of COVID-19 pandemic on North America flexible foam market:
Following the COVID-19 outbreak, stringent lockdown restrictions, supply chain disruptions, and raw materials and labor shortages, brought operations across several end-use industries to a halt. With widespread vaccination drives, declining COVID cases, and increasing emphasis of governments across the region on accelerating economic recovery, construction activities have resumed, thereby driving product uptake. Furthermore, soaring need for packaging across varied end-use industries has been favorable for market growth during the pandemic.
Leading market players:
Key companies functioning in the North America flexible foam industry include Covestro, DOW Chemical, Huntsman, BASF, The Woodbridge, Rogers Corp, Kaneka, INOAC Corp, Carpenter, and American Excelsior Company, among others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
