Memory Foam Market Set for Rapid Growth and Trend, by 2029
Posted by ankush Nikam on September 4th, 2019
Memory Foam Market Introduction
Memory foam is also referred to as low-resilience or viscoelastic polyurethane foam. Memory foam is majorly composed of polyurethane and other additives that increase the viscosity and density of the final product. Memory foam is characterized by its ability to recover to its initial shape and size after the removal of pressure and hence the nomenclature derived from this property. The property of elasticity of memory foam is a resultant of the open foam bubbles that create an open matrix for the air to move through.
Memory Foam Market Dynamics
Memory Foam Market Drivers
The demand for memory foam is expected to boom in coming years owing to the level of comfort that products made from memory foam offer. The products made from memory foam such as mattresses can mold perfectly to bodies of any shape or size that envelops the consumer into an ideal blend of comfort and support. Also, memory foam is popular for shock absorption, and for being light-weight. Another end use segment which is rapidly gaining traction in use of memory foam is its design in sports shoes soles and surrounding chassis making it extremely lightweight as well as robust in high athletic activities.
With economic development across the geographies, the growth in working population is immense. After seven to nine hours of working, the preference for highly comforting, relaxing and stress relieving mattresses and other consumers goods is significantly high among the working population of urban areas. As a consequence, the demand for comforting consumer goods such as memory foam mattresses, pillows and cushions is expected to increase. Consequently, the propensity of consumers to spend more on such consumer goods has increased drastically. This is further boosted by healthy level of consumer spend in luxury items where quality and durability of the product is more important than the price. The demand for memory foam is expected to grow further with the growing population and the increasing rates of urbanization across the geographies.
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Memory Foam Market Restraints
One of the factor that potentially restrains the sales of the global memory foam market include the high price of the product. Memory foam mattresses are considered to be luxury and lavish products that are consumed majorly by the high earning population of the society. Furthermore, the durability of the memory foam is less. In other words, memory foam loses its ability to recover its shape and size with time.
Memory Foam Market Trends
As the number of players in the production of consumer goods is increasing, the number of manufacturers in memory foam market is growing at a significant rate. Furthermore, the intensity of competition among of the players of the global memory foam market is significantly high. Continuous efforts by memory foam manufacturers are being channeled towards improved prototypes of the product consisting of superior properties at an affordable price.
Memory Foam Market Segmentation
The global memory foam market has been segmented into different segments based on density, types and applications of memory foam.
On the basis of density, the global memory foam market is be segmented as:
On the basis of type, the global memory foam market is be segmented as:
On the basis of applications, the global memory foam market is be segmented as:
Memory Foam Market Participants
Some of the market key Memory Foam market participants identified across the value chain of global Memory Foam market that include manufacturers operating at national or international levels and suppliers are as follows:
Memory Foam Market Regional Outlook
The consumption of memory foam for the production of consumer goods is expected to be prominent in developed regions such as North America and Europe. Economic development in countries such as China, India and Brazil is expected to result in moderate volumes of consumption of memory foam in regions such as East Asia, South Asia and Latin America. Lesser but considerable amount of consumption of memory foam is expected to be in regions such as Oceania and Middle East and Africa.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. Report also contains projections using a suitable set of assumptions and methodologies. The Memory Foam research report provides analysis and information according to market segments such as density, type, and application.
The report covers exhaustive analysis on:
Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The Memory Foam report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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About the Authorankush Nikam
Joined: December 21st, 2016
Articles Posted: 4,519
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