Market Leader - Consumer Foam Market
The Consumer foam market is projected to grow from USD 40.2 billion in 2021 to USD 50.9 billion by 2026, at a CAGR of 4.9% from 2021 to 2026. Increased use of consumer foam in automotive applications for crash pads, headrests and armrests, trim, seating, carpet back, sun visors, instrument panels, filters, and headliners, and also in sound insulation, vibration dampening, and energy management and the versatility and unique physical properties of consumer foam are driving factors for growth of consumer foam market.
Companies such as Covestro AG, BASF SE, JSP Corporation, Dow Inc., and Huntsman Corporation fall under the winners’ category. These are leading players in the Consumer foam market, globally, and are some of the leading players operating in the consumer foam market. These players have adopted the strategies of expansions, agreements, mergers & acquisitions, partnerships, new product launches, joint ventures, investments & contracts, collaborations, and new technology & new process developments, to increase their presence in the global market
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Covestro AG is the dominant player in the global consumer foam market. The company invests in R&D to introduce innovative products, which can be of higher quality and can be used across end-use industries at affordable prices. It also has a strong distribution channel, making products available across the globe to various end-use industries. Covestro AG is among the largest producers of consumer foam in Germany. The company has a wide range of product offerings, as it is among the largest producers in the country. It has the highest R&D expenditure percentage in comparison to other major players in the market and has also expanded in recent years. It has a good brand image and is among the new manufacturers of consumer foam and has a good product differentiation and impact on customer value. Covestro AG has a global presence. The company focuses on the effectiveness of growth strategy, as it is focusing on inorganic strategies. It has a strong distribution channel and has four overseas facilities spread across the world, making it one of the largest companies globally. The company is well aligned with its strategy of sustainable growth. It also has high operating and profit margins.
BASF SE is a leading supplier of consumer foam, specialties, and basic products such as polyurethane foams and foam raw materials. The company has a broad product portfolio comprising spray foams, basic products, specialty elastomers (such as thermoplastic polyurethane (TPU) and microcellular elastomers), and other customized products. The foam products offered by it are used in automotive, construction, sports & leisure, shoes, furniture, electronics, and insulation applications. BASF SE offers different groups of foam systems based on their hardness, softness, integrity, or compactness. The company offers prompt local support, ranging from technical services & sales to production & marketing services through its polyurethane system house network. It operates a global network of 45 polyurethane system houses with a comprehensive product and service portfolio. With its world-scale plants, BASF SE is considered one of the leading producers of basic consumer foam products across the world. The company manages its business through Chemicals, Materials, Surface Technologies, Industrial Solutions, Agricultural Solutions, Nutrition & Care, and other business segments. The Other segment of BASF SE comprises its paper and water chemicals business. The company manages its foam business through its Materials segment.
Related Reports:
Consumer Foam Market by Foam Type, Resin Type (Polyurethane, Polystyrene, Polyolefins, Phenolic), End-use Industry(Bedding & Furniture, Footwear, Automotive), & Region (APAC, North America, South America, Europe, MEA) - Global Forecast to 2026
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