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- 204 Market data Tables
- 55 Figures
- 229 Pages and in-depth TOC on “Consumer Foam Market – Global Forecast to 2026”
This report also provides a comprehensive analysis of the companies listed below:
Covestro AG (Germany), BASF SE (Germany), Dow Inc. (US), Huntsman Corporation (US), Sekisui Chemical Co., Ltd. (Japan), Saint-Gobain (France), Chemtura Corporation (Lanxess) (US), Recticel NV/SA (Belgium), Rogers Corporation (US), Trelleborg AB (Sweden), Eurofoam Group (Austria), Woodbridge Foam Corporation (Canada), Tosoh Corporation (Japan), Foamcraft, Inc. (US), Loyal Group (China), JSP Corporation (Japan), and Sealed Air Corporation (US)
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.
COVID-19 Impact on the Global Consumer Foam Market
The pandemic is estimated to have huge impact on various factors of the value chain of Consumer foam, which is expected to reflect during the forecast period, especially in the year 2021. The various impact of COVID-19 are as follows:
- Impact on raw materials: The imposition of COVID-19 lockdowns across the world, lead to a decrease in demand for MDI, significantly from March to June 2020. The key buyers in Asia Pacific either cancelled their advance orders or delayed their purchases. In the European region weak demand for foams from the automotive sector was a key factor for the declining demand for MDI in Europe. The outbreak and the spread of the COVID-19 situation have led to a shortage of TDI in key regions across the world. Most foam companies have shut their operations, and many countries have sealed their ports, thereby resulting in no product movement. This has led to the cancellation of several orders for TDI.
- Impact on consumer foam manufacturers: The impact of COVID-19 outbreak resulted in the majority of production plants of consumer foam in Europe have either been closed or are operating with limited capacity.
- Impact on end-use industries: The two major end-use industries impacted by the COVID-19 outbreak are automotive and bedding & furniture. Until May 2020, almost all automotive plants in Europe were closed owing to the spread of the COVID-19. However, all automobile production facilities have reopened in China.
In case of bedding & furniture industry foam manufacturing plants that serve the mattresses and furniture industries witnessed a reduction of 30% to 90% in their production in April 2020, with the retail industry closed in most of Europe. Though online sales of mattresses and furniture were reported to increase, they were not significant enough to compensate for drastic drops in demand for them.
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.
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