Furniture foam offers both functional as well as aesthetic benefits in the manufacturing of residential & commercial furniture products such as sofas, chairs, recliners etc. Foam properties such as density, firmness, compression module, flex fatigue, resilience decides the type of foam used for developing upholstery that provides proper comfort.
Among product type, polyurethane foam segment accounted for largest market share in the global furniture foam market in 2018. Properties such as resilience, strength, comfort & durability makes polyurethane foam a preferred choice for manufacturing furniture. Moreover, polyurethane foam is cost-efficient and lasts for a longer time compared to other foam materials.
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Favorable growth of the tourism & hospitality industry globally is boosting demand for luxury furniture which is projected to drive growth of global furniture foam market throughout the forecast period. For instance, according to India Brand Equity Foundation's report, the hotel & tourism sector in India received Foreign Direct Investment of US$ 12.35 billion during the period of April 2000 to March 2019.
Wood accounted for major share among raw material used in the manufacturing of furniture. Many forest-based industries are highly dependent on supply of wood from forest departments. Due to rising environmental concerns, forest departments have restricted supply of wood to these industries. Also, the complexity of wood harvesting in terms of process and production cost is a major challenge in front of furniture manufacturers.
On the basis of product type, the global furniture foam market is segmented into:
On basis of category, the global furniture foam market is segmented into:
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Key players operating in the global furniture foam market include Foam Factory Inc., Future Foam Inc., FXI, Grand Rapids Foam Technologies, G&B Foam (High Wycombe) Ltd., SINOMAX, Lensyl Products Limited, Southern Foam, Flexipol Foams Pvt. Ltd., KTT Enterprises among others
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