Smart Memory Foam Market - Forecast(2023 - 2028)

Report Code: CMR 73251 Report Format: PDF + Excel

Smart Memory Foam Market Overview

Smart memory foam market size is forecast to reach $597.2 million by 2026, after growing at a CAGR of 3.6% during 2021-2026, owing to the increasing usage of smart memory foam (also known as viscoelastic polyurethane foam) in various applications due to the extensive properties that it offers such as temperature control support, pain-relief comfort, low-resilience, weight distribution, motion transfer resistance, and more. 

The rapid growth of the aircraft and transportation industries has increased the demand for low-resilience polyurethane foam and polyethylene terephthalate foam; thereby, fueling the market growth. The market for smart memory foam is also driven by the increase in consumer disposable income in emerging economies; constant technological innovation; rapid adoption in the carpet and flooring markets. Furthermore, the flourishing bedding and furniture industry is also expected to drive the smart memory industry substantially during the forecast period.

COVID-19 Impact

The COVID-19 pandemic outbreak is having a huge impact on the automotive and aerospace industry. There is a delay in imports and exports of smart memory foam due to the import-export restriction by the governments in various regions. Besides, the production of automobiles has been disruptively stopped, contributing to a major loss in the total automotive sector. According to the European Automobile Manufacturers Association, demand for new commercial vehicles in the EU remained poor in June 2020 (-20.3 percent), but at a slower pace than in April and May. 

Three of the region's four main markets saw double-digit percentage declines last month: Germany (-30.5 percent), Spain (-24.2 percent), and Italy (-12.8 percent), while France saw a slight increase (+2.2 percent). Thus, with the decrease in automotive production, the demand for smart memory foam (also known as viscoelastic polyurethane foam) has significantly fallen for manufacturing car seats, which is having a major impact on the smart memory foam market.

Report Coverage

The report: “Smart Memory Foam Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the smart memory foam Industry.
By Type: Traditional, Air Cool, Gel, Plant-Based, and Others
By Application: Transportation (Aerospace, Automotive, and Others), Bedding, Carpet Cushion, Furniture, Medical, and Others
By Geography: North America (U.S., Canada, and Mexico), Europe (U.K, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Takeaways

  • Asia-Pacific dominates the smart memory foam market, owing to the increasing demand for bedding, cushions, and furniture in the region. The increasing population coupled with the increasing per capita income is the key factor driving the bedding, cushions, and furniture industry in the APAC region.
  • An increase in demand for low-resilience polyurethane foam in bandages and artificial applications in the manufacture of foam mattresses for dental chairs, as well as use in prosthetics to prevent pressure ulcers in products for patients, such as seating pads, is expected to drive market growth.
  • PET (polyethylene terephthalate) foams demonstrated very good shape memory behavior with shape recovery always higher than 90%, owing to which its demand is increasing. Thus, shape memory properties of PET (polyethylene terephthalate) foams are anticipated to further drive the smart memory foam industry.
  • The moisture permeability and energy dissipation properties are expected to create an opportunity for market growth. However, relative to a spring foam mattress, high memory foam mattress prices are expected to limit market growth to some degree.

Figure: Asia-Pacific Smart Memory Foam Market Revenue, 2020-2026 (US$ Million)

Smart Memory Foam Market

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Smart Memory Foam Market Segment Analysis – By Type

The traditional smart memory foam segment held the largest share in the smart memory foam market in 2020 and is growing at a CAGR 4.5% during 2021-2026. It is made of a petroleum-based conventional polymer and is soft and tends to be denser than other types. As a consequence, the best option for affordability over comfort is conventional memory foam. This is because of its high density and low resilience; the heat that comes out of body helps to hold it. Moreover, conventional memory foam is more susceptible to heat and pressure as a result of its tightly packed construction. From major points in the body, this helps alleviate the pain and pressure. The key factor that is expected to increase demand for traditional smart memory foam during the forecast period is all its extensive features.

Smart Memory Foam Market Segment Analysis – By Application

The bedding and furniture segment held the largest share in the smart memory foam market in 2020 and is growing at a CAGR 5.3% during 2021-2026, owing to the increasing usage of smart memory foams ( viscoelastic polyurethane foam) for bedding and furniture purposes. In response to heat and pressure, mattresses made of memory foam actively mold to the body structure, enabling the surface to disperse bodyweight equally when occupied and return to its original shape once the pressure is removed. To the degree that other mattresses do not, it contours the body, helps avoid tossing and turning and helps relieve pressure. In addition, they are perfect for high maintenance bodies owing to their advantages such as less costly, less maintenance, and other variables. All these benefits related to the smart memory foam are the major factor driving its demand for the application of bedding and furniture during the forecast period.

Smart Memory Foam Market Segment Analysis – By Geography

Asia-Pacific region held the largest share in the smart memory foam market in 2020 up to 38%, owing to the increasing demand for low-resilience polyurethane foam-based bedding and furniture from the construction industry in the region. The growth of the population is leading to a need for more residential and commercial sectors, owing to which governments are heavily spending on expanding the residential sector. 

For instance, the Indian government has launched projects such as '100 smart cities' and 'Housing for All by 2022,' which are projected over the forecast period to drive the Indian residential construction market. 

According to the International Trade Administration (ITA), China's construction value in 2018 was USD 893.58, and the Chinese construction sector is projected to grow at an annual rate of 5 percent in real terms between 2019 and 2023. Such investments and initiatives in the construction industry by the government in APAC are anticipated to drive the construction market in the Asia Pacific during the forecast period. With the increasing construction sector, the demand for bedding, cushions, and furniture is also anticipated to increase, which will then subsequently increase the demand for smart memory foam in the APAC region during the forecast period.

Smart Memory Foam Market – Drivers

Increasing Automotive Production

The smart memory foam material also known as viscoelastic polyurethane foam is designed especially for automobile seats. For better comfort, it provides a safe & right driving stance and has a U-shaped cut-out. China is the world's largest vehicle market, according to the International Trade Administration (ITA), and the Chinese government expects the production of vehicles to reach 35 million by 2025. According to the International Clean Transport Council (icct), new car registrations in the EU have risen marginally to a level of 15.5 million in 2019. In 2019, the sport utility vehicle (SUV) category accounted for nearly 5.7 million new vehicles, 10 times as many as in 2001. 

India's annual production in 2019 was 30.91 million vehicles, according to Invest India, compared to 29.08 million in 2018, recording a healthy 6.26 percent growth. Also, by 2026, the $118 billion Indian car industry is projected to cross $300 billion. Thus, increasing automation production will require more smart memory foam for manufacturing automobile seats, which will act as a driver for the smart memory foam market during the forecast period.   

Flourishing Aerospace Industry 

China was the second-largest civil aerospace and aviation services market in the world in 2019, and one of the fastest-growing markets, according to the International Trade Administration (ITA). In November 2020, Boeing projected that China's airlines will buy $1.4 trillion worth of 8,600 new aircraft and $1.7 trillion worth of commercial aviation services over the next 20 years. According to Boeing's current business forecast, the Middle East would need 2,520 new aircraft by 2030. 

India is also projected to fuel demand for 2,300 aircraft worth US$320 billion over the next 20 years, according to Boeing. The smart memory foam adjusts its structure to unique external stimuli and then recalls the original form. The shape memory behavior may also be improved in the form of foams since they typically have higher compressibility.  Considering the low weight, low-resilience, and recovery force, the foams are having great potential applications in the aerospace industry. Hence, the increasing aviation industry acts as a driver for the smart memory foam market.

Smart Memory Foam Market – Challenges

Disadvantages Related to the Smart Memory Foam

The dangerous chemicals in the memory foam were used to make it smooth and comfortable because there was no technical innovation or scientific consideration. However, the government's consideration of it has modified the production of this mattress into safer and less harsh chemicals only through the use of technology and scientific upgrades. The memory foam utilizes the heat of the body; it is therefore not ideal for summer and humid weather. So people with a lot of moisture should avoid such a slumber mattress. The memory foam provides a chemical scent due to the presence of volatile organic compounds. It is quite stressful and quite hard to sleep too many times. All these disadvantages of smart memory foam hinder the growth of the smart memory foam market during the forecast period.

Smart Memory Foam Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the smart memory foam market. Major players in the smart memory foam market are Foam Factory, Inc., Restonic Mattress, Kingsdown, Dorel Industries, Select Comfort, Serta, Tempur, Dream Smart, King Coil, and Restolex.

Acquisitions/Technology Launches

  • In May 2020, Kingsdown upgraded its premium air chamber mattress Sleep Smart Air to work with Amazon's Alexa products for expanded voice activation and Wi-Fi capabilities. Users can change the bed and positioning to the levels recommended by bedMATCH, the company's diagnostic device, using Sleep Smart Air and Kingsdown's adjustable bed bases.

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1. Smart Memory Foam Market- Market Overview
    1.1 Definitions and Scope
2. Smart Memory Foam Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Type
    2.3 Key Trends by Application
    2.4 Key Trends by Geography
3. Smart Memory Foam Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Smart Memory Foam Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Smart Memory Foam Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Smart Memory Foam Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Smart Memory Foam Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Smart Memory Foam Market– By Type (Market Size -$Million/Billion)
    8.1 Traditional
    8.2 Air Cool
    8.3 Gel
    8.4 Plant-Based
    8.5 Others
9. Smart Memory Foam Market– By Application (Market Size -$Million/Billion)
    9.1 Transportation
        9.1.1 Aerospace
            9.1.1.1 General
            9.1.1.2 Military
            9.1.1.3 Others
        9.1.2 Automotive
            9.1.2.1 Passenger vehicles
            9.1.2.2 Light Commercial Vehicles (LCV)
            9.1.2.3 Heavy Commercial Vehicles (HCV)
        9.1.3 Others
    9.2 Bedding
    9.3 Carpet Cushion
    9.4 Furniture
    9.5 Medical
    9.6 Others
10.  Smart Memory Foam Market - By Geography (Market Size -$Million/Billion)
    10.1 North America
        10.1.1 U.S
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 UK
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Netherland
        10.2.6 Spain
        10.2.7 Russia
        10.2.8 Belgium
        10.2.9 Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 Japan
        10.3.3 India
        10.3.4 South Korea
        10.3.5 Australia and New Zealand
        10.3.6 Indonesia
        10.3.7 Taiwan
        10.3.8 Malaysia
        10.3.9 Rest of APAC
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Colombia
        10.4.4 Chile
        10.4.5 Rest of South America
    10.5 Rest of the World
        10.5.1 Middle East
            10.5.1.1 Saudi Arabia
            10.5.1.2 U.A.E
            10.5.1.3 Israel
            10.5.1.4 Rest of the Middle East
        10.5.2 Africa
            10.5.2.1 South Africa
            10.5.2.2 Nigeria
            10.5.2.3 Rest of Africa
11. Smart Memory Foam Market – Entropy
    11.1 New Product Launches
    11.2 M&As, Collaborations, JVs and Partnerships
12. Smart Memory Foam Market – Market Share Analysis Premium
    12.1 Market Share at Global Level - Major companies
    12.2 Market Share by Key Region - Major companies
    12.3 Market Share by Key Country - Major companies
    12.4 Market Share by Key Application - Major companies
    12.5 Market Share by Key Product Type/Product category - Major companies
13. Smart Memory Foam Market – Key Company List by Country Premium Premium
14. Smart Memory Foam Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    14.1Company 1
    14.2Company 2
    14.3Company 3
    14.4Company 4
    14.5Company 5
    14.6Company 6
    14.7Company 7
    14.8Company 8
    14.9 Company 9
    14.10 Company 10 and more
    "*Financials would be provided on a best efforts basis for private companies"   

LIST OF TABLES

1.Global Global Smart Memory Foam Market, By Type Market 2019-2024 ($M)
1.1 Traditional Memory Foam Market 2019-2024 ($M) - Global Industry Research
1.2 Air Cool Memory Foam Market 2019-2024 ($M) - Global Industry Research
1.3 Gel Memory Foam Market 2019-2024 ($M) - Global Industry Research
2.Global Global Smart Memory Foam Market, By Type Market 2019-2024 (Volume/Units)
2.1 Traditional Memory Foam Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Air Cool Memory Foam Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 Gel Memory Foam Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Global Smart Memory Foam Market, By Type Market 2019-2024 ($M)
3.1 Traditional Memory Foam Market 2019-2024 ($M) - Regional Industry Research
3.2 Air Cool Memory Foam Market 2019-2024 ($M) - Regional Industry Research
3.3 Gel Memory Foam Market 2019-2024 ($M) - Regional Industry Research
4.South America Global Smart Memory Foam Market, By Type Market 2019-2024 ($M)
4.1 Traditional Memory Foam Market 2019-2024 ($M) - Regional Industry Research
4.2 Air Cool Memory Foam Market 2019-2024 ($M) - Regional Industry Research
4.3 Gel Memory Foam Market 2019-2024 ($M) - Regional Industry Research
5.Europe Global Smart Memory Foam Market, By Type Market 2019-2024 ($M)
5.1 Traditional Memory Foam Market 2019-2024 ($M) - Regional Industry Research
5.2 Air Cool Memory Foam Market 2019-2024 ($M) - Regional Industry Research
5.3 Gel Memory Foam Market 2019-2024 ($M) - Regional Industry Research
6.APAC Global Smart Memory Foam Market, By Type Market 2019-2024 ($M)
6.1 Traditional Memory Foam Market 2019-2024 ($M) - Regional Industry Research
6.2 Air Cool Memory Foam Market 2019-2024 ($M) - Regional Industry Research
6.3 Gel Memory Foam Market 2019-2024 ($M) - Regional Industry Research
7.MENA Global Smart Memory Foam Market, By Type Market 2019-2024 ($M)
7.1 Traditional Memory Foam Market 2019-2024 ($M) - Regional Industry Research
7.2 Air Cool Memory Foam Market 2019-2024 ($M) - Regional Industry Research
7.3 Gel Memory Foam Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Smart Memory Foam Market Revenue, 2019-2024 ($M)
2.Canada Smart Memory Foam Market Revenue, 2019-2024 ($M)
3.Mexico Smart Memory Foam Market Revenue, 2019-2024 ($M)
4.Brazil Smart Memory Foam Market Revenue, 2019-2024 ($M)
5.Argentina Smart Memory Foam Market Revenue, 2019-2024 ($M)
6.Peru Smart Memory Foam Market Revenue, 2019-2024 ($M)
7.Colombia Smart Memory Foam Market Revenue, 2019-2024 ($M)
8.Chile Smart Memory Foam Market Revenue, 2019-2024 ($M)
9.Rest of South America Smart Memory Foam Market Revenue, 2019-2024 ($M)
10.UK Smart Memory Foam Market Revenue, 2019-2024 ($M)
11.Germany Smart Memory Foam Market Revenue, 2019-2024 ($M)
12.France Smart Memory Foam Market Revenue, 2019-2024 ($M)
13.Italy Smart Memory Foam Market Revenue, 2019-2024 ($M)
14.Spain Smart Memory Foam Market Revenue, 2019-2024 ($M)
15.Rest of Europe Smart Memory Foam Market Revenue, 2019-2024 ($M)
16.China Smart Memory Foam Market Revenue, 2019-2024 ($M)
17.India Smart Memory Foam Market Revenue, 2019-2024 ($M)
18.Japan Smart Memory Foam Market Revenue, 2019-2024 ($M)
19.South Korea Smart Memory Foam Market Revenue, 2019-2024 ($M)
20.South Africa Smart Memory Foam Market Revenue, 2019-2024 ($M)
21.North America Smart Memory Foam By Application
22.South America Smart Memory Foam By Application
23.Europe Smart Memory Foam By Application
24.APAC Smart Memory Foam By Application
25.MENA Smart Memory Foam By Application
26.Foam Factory, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Restonic Mattress, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Kingsdown, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Dorel Industry, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Select Comfort, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Serta, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Tempur, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Dream Smart, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.King Coil, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Restolex, Sales /Revenue, 2015-2018 ($Mn/$Bn)