Key vendors to focus on product innovation to gain market shares.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global flexible market in their latest research report. This report also lists seven other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global flexible foam market is highly competitive in nature and is characterized by the presence of a large number of players with a strong market presence. Vendors compete on the basis of factors such as innovation, price, operational cost, and product quality. A few vendors have the capability to bring down the market prices as their production costs are lesser than that of their competitors. Furthermore, some of the suppliers’ financial, technological, and other resources are greater than their competitors, and such players are better able to withstand changes in market conditions.
According to Ajay Adikari, a lead analyst at Technavio for research on plastics, polymers, and elastomers, “The global flexible foams market is currently experiencing a surge in demand from the furniture and bedding, transportation, and packaging industries as well as from other application sectors such as consumer goods, electronics, construction, footwear, paint rollers, and medical applications.”
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Top five vendors in the flexible foam market space
BASF
BASF produces and supplies chemicals and intermediates, including plasticizers, solvents, monomers, glues, and electronic chemicals. The company also offers raw materials for plastics, detergents, textile fibers, plant protection, pharmaceuticals, and paints and coatings. Its end-users include the automotive, construction, agriculture, oil, plastics, electrical and electronics, furniture, and paper industries.
Key products: Elastoflex, Elastofoam, and Elastoskin.
Covestro
Covestro manufactures and markets high-tech polymer materials. The company’s product portfolio consists of polycarbonates and raw materials for polyurethanes, coatings, and adhesives. These products are used in various industries such as automotive, packaging, medical engineering, garden and sanitation, sports and leisure, and textiles.
Key products: Bayfit, Bayflex, Baymer, Baynat, Baysafe, and Baytherm.
Dow Chemical
Dow Chemical’s portfolio includes advanced materials, specialty chemicals, and agrosciences. The company provides polyurethane for various end-use applications such as bedding and furniture, packaging, automotive, electrical encapsulation, sports, and recreation.
Key products: ENERFOAM (professional foam sealant), STYROFOAM (flexible polyethylene foam to reduce air infiltration), VORAGUARD, and VORANATE (to manufacture elastomers, coatings, adhesives, and semi-flexible foams).
Huntsman
Huntsman designs, manufactures, and markets differentiated organic and inorganic chemical products worldwide. The company serves industries such as chemicals, plastics, automotive, furniture, and packaging.
Key products: RUBINATE and SUPRASEC MDI.
JSP
JSP is one of the leading manufacturers of plastics and foams. The company serves industries such as automotive, construction, civil engineering, packaging, sports, food packaging, and consumer goods. It has manufacturing, R&D, and molding facilities in all three major industrial centers, including Europe, the Americas, and Asia.
Key products: P-Board, Caplon, P-Mat, and Miranet.
A more detailed analysis is available in the Technavio report, Global Flexible Foams Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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