Global Sponge Market Growth 2023-2029

Global Sponge Market Growth 2023-2029

Sponge, a porous material with good water absorption, can be used for cleaning goods.Currently, the main material of sponge on the market is polyurethane, which generally refers to the low density PU with foam density lower than 18 kg/m3.This kind of material flexibility is good, basically apply at all sorts of hot material, cushion material, the cushion for leaning on and armrest of sofa chair of car boat and furniture, cushion for leaning on, mattress, clothing cushion.China's demand for sponges increased to 2.06 million tons in 2018 from 1.64 million tons in 2014.It is estimated that under the support of the downstream industry, especially the soft furniture in China, the automobile industry under the influence of continuous high demand, with the rapid development of China's economy, people's requirements for household goods have been expanded from the single use to the comfort of the product, beautiful and multi-use characteristics.Because of polyurethane sponge with good air permeability, rebound elasticity and plasticity, material to design the software furniture with joint human body body, soft and breathable, high elastic characteristics of this kind of furniture has gradually become a residential, office buildings, commercial business premises such as building one of the indispensable thing, so the downstream demand growth is inevitable trend.We expect China's demand for sponges to continue to grow at a compound annual rate of 6% over the next six years.In terms of production areas, east and south China are the largest sponge production base, followed by north China, where the three regions account for 79% of the market. This is mainly because these regions are close to or have been the manufacturing sites of traditional household products.China's overall upstream polyurethane industry has been very mature, polyether polyols, MDI, TDI overcapacity, therefore, China made sponge has a great advantage, coupled with low labor costs, make China made sponge in the world has a strong competitiveness.At present, the sponge manufacturing industry in China is relatively scattered and lacks industry giants. Meanwhile, there are still a large number of small and micro manufacturers in the market.The dispersion of industries leads to the lack of corresponding industry standards and access system.As a result, the good and bad products in the sponge industry in China are interchangeable, which greatly weakens the competitiveness of the whole industry in the international market.At present, the larger market is shengnuo, henan jibaijia industry, fengsheng international group.They have a unified feature is that they have an excellent downstream industry chain.It is expected that in the future, sponge processing as a household, the phenomenon of seat manufacturers will be more common.
LPI (LP Information)' newest research report, the “Sponge Industry Forecast” looks at past sales and reviews total world Sponge sales in 2022, providing a comprehensive analysis by region and market sector of projected Sponge sales for 2023 through 2029. With Sponge sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Sponge industry.
This Insight Report provides a comprehensive analysis of the global Sponge landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Sponge portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Sponge market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Sponge and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Sponge.
The global Sponge market size is projected to grow from US$ 6201.5 million in 2022 to US$ 8835.4 million in 2029; it is expected to grow at a CAGR of 8835.4 from 2023 to 2029.
In China, Sponge key players include Sinomax Group, Henan Jiabaijia, Fengsheng International Group, Xinxiang Xinyuan Chemical Industry Co.,Ltd., etc. Global top four manufacturers hold a share about 10%.
East China is the largest market, with a share about 30%, followed by South China, and North China, both have a share about 45 percent.
In terms of product, Ordinary Sponge is the largest segment, with a share about 45%. And in terms of application, the largest application is Upholstered Furniture, followed by Automation, Clothing and Footwear, Daily Necessities, etc.
This report presents a comprehensive overview, market shares, and growth opportunities of Sponge market by product type, application, key manufacturers and key regions and countries.
Market Segmentation:
Segmentation by type
Ordinary Sponge
High Rebound Sponge
Slow Rebound Sponge
Others
Segmentation by application
Upholstered Furniture
Clothing and Footwear
Automation
Daily Necessities
Architecture and Decoration
Other
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Sinomax Group
Henan Jiabaijia
Fengsheng International Group
Xinxiang Xinyuan Chemical Industry Co.,Ltd.
Chiao Fu Enterprise Co., Ltd
Jiangsu Lvyuan
Shenzhen Zhongshenfeng Technology Co., LTD
Dongguan Hengying Sponge Products
Shanghai Xinyuan New Materials Technology Co.,Ltd.
Langxi Taiji Sponge
Shenzhen Zhenyue Sponge Products Co.,Ltd.
Jiamei Technology
Dongyang Haijia Sponge Product
Gaomi Rongsheng Composition Material
Wenzhou Ruian Fangyuan Polyurethane Sponge
Dongguan Tengwei Sponge
JIHUA GROUP
Sleemon
CYHOME
Hubei Shifeng New Materials Co.,Ltd
Key Questions Addressed in this Report
What is the 10-year outlook for the global Sponge market?
What factors are driving Sponge market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Sponge market opportunities vary by end market size?
How does Sponge break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.