Global Furniture Foam Market Analysis 2024, Forecast To 2033
12 Nov, 2024
The furniture foam market has grown strongly in recent years, with an expected increase from $55.37 billion in 2023 to $58.61 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.9%. Growth factors include rising demand for durable and comfortable furniture, consumer preference for customizable solutions, higher disposable incomes, and increased awareness of health benefits from high-quality foam. The furniture foam market is expected to grow significantly, reaching $74.41 billion by 2028 at a CAGR of 6.1%. This growth is driven by the expansion of e-commerce, increased home renovation activities, the rising demand for sustainable materials, growth in the hospitality and healthcare sectors, and advancements in foam technology. Major trends include the popularity of memory foam and gel-infused products, integration of smart technology in furniture, growing preference for modular and multifunctional designs, and the increased focus on recycling and sustainability.
Major Driver In The Furniture Foam Market
The rising residential and commercial building projects are expected to propel the growth of the furniture foam market going forward. Residential buildings, designed primarily for people, include houses and apartments, while commercial buildings serve business purposes. The rise in these projects is linked to economic growth, government policies, and post-pandemic recovery. Furniture foam is integral to residential and commercial projects, used for seating, mattresses, and cushioning, providing comfort and durability in furniture applications. Trading Economics reported that around 621,000 single-family houses were sold in the U.S. in May 2024, increasing to 668,000 units in June and 739,000 in July, indicating a 7.6% growth from May to June and an additional 10.6% increase from June to July. Thus, the increase in building projects is driving the furniture foam market's growth.
Request A Free Sample Of The Furniture Foam Market ReportFurniture Foam Market Competitive Landscape
BASF SE, The Dow Chemical Company, Huntsman International LLC, Carpenter Co., Recticel, Future Foam Inc., Sheela Foam Ltd., Flexible Foam Products Inc., Foamcraft Inc., EPE International Ltd., Vitafoam Nigeria Plc, Raunak Group, Foam Products Corporation, Cenflex, COZILY, Master Foam, American Foam Products Inc., GIANTEX, Forever Enterprises, FEBERICA, FOVERA
Key Furniture Foam Market Trend
In the furniture foam market, companies are focusing on advanced materials like recycled polyurethane (PU) foam to gain a competitive edge. Polyurethane foam is a versatile material used in furniture, bedding, automotive, and packaging industries. For instance, in January 2024, The Vita Group from the UK launched Orbis, a flexible polyurethane foam partially made from post-consumer foam mattresses. This environmentally responsible product reduces landfill waste and maintains the quality expected from traditional PU foam. Orbis contributes to reducing carbon footprints and supports sustainability goals in bedding and furniture applications.
Purchase The Global Furniture Foam Market Report Directly And Get A Swift DeliveryGlobal Furniture Foam Market Segmentation
The furniture foam market covered in this report is segmented –
1) By Product Type: Polyurethane Foam, Latex Foam, Other Types
2) By Category: Rigid, Flexible
3) By Application: Chair, Sofa, Beds, Recliners, Other Applications
4) By End-Use: Building And Construction, Automotive, Hospitals, Other End-Uses
By Geography:The regions covered in the furniture foam market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the furniture foam market in 2023.
The Furniture Foam Global Market Report 2024 furnishes information about the global furniture foam market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.