The global flexible foams market to grow at a CAGR of 5.78% during the period 2017-2021.
The report, Global Flexible Foams Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Low supply constraints in Europe, following the establishment of new flexible foam production facilities in China, will likely restrict the rising costs of production, thereby reducing the cost of the product. Established manufacturers in APAC provide high capacity utilization to cater to the growing demand from South America and Europe. This region is the largest consumer of flexible foam and accounted for 43.3% of the global flexible foam consumption in 2016. However, the consumption of flexible foam in the other regions is also likely to increase during 2017-2021.
According to the report, despite the volatile growth in the real estate sector in China, the rapid development of rail and road infrastructure by the government to sustain fast-growing industrial sectors has resulted in significant growth of the construction industry in recent years. The construction industry in China is dominated by state-owned enterprises. The increased spending by the government on construction propelled the country to the forefront in the global scenario. Even the volatile real estate sector had shown great promise during the second half of the last decade, and currently, accounts for nearly one-third of the overall share in the global construction industry.