Furniture foam provides both functional and aesthetic benefits in the production of home and commercial furniture products including as sofas, chairs, and recliners. The sort of foam utilised for making upholstery that gives optimum comfort is determined by foam attributes such as density, hardness, compression module, flex fatigue, and resilience.
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 was the most common raw material utilised in the production of furniture. Many forest-based industries rely heavily on wood supplies from forest departments. Forest authorities have limited the supply of timber to these companies due to escalating environmental concerns. Furthermore, the intricacy of wood harvesting in terms of method and production cost is a significant problem for furniture manufacturers.
In 2018, the polyurethane foam category accounted for the greatest market share in the global furniture foam market. Polyurethane foam is a popular choice for furniture manufacture due to properties like as resilience, strength, comfort, and durability. Furthermore, polyurethane foam is less expensive and lasts longer than other foam materials.
During the projected period, Asia Pacific is expected to be the fastest expanding region in the worldwide furniture foam market. Leading furniture makers' increased investments in emerging economies such as India and China are expected to generate development opportunities for companies in the Asia Pacific furniture foam market. For example, IKEA, the world's largest furnishing retailer, launched its first retail location in India in 2018 and plans to open 24 further stores around the country by the end of 2025.
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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