Packaging Foams - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Packaging Foams Market is accounted for $15.08 billion in 2019 and is expected to reach $28.96 billion by 2027 growing at a CAGR of 8.5% during the forecast period. Increase in the use of polyurethane foams in the packaging industry and growing e-commerce industry are the major factors propelling the market growth. However, price fluctuation of raw material is hampering the market growth.
Packaging foams are made of materials such as polystyrene (PS), polyurethane (PU), polyvinyl chloride (PVC), and polyolefin (PO) and are used for the manufacturing of egg cartons, flotation devices, insulation, sandwich and hamburger boxes, and coffee mugs. These are widely used in a range of end-use industries owing to properties such as high corrosion resistance, shock resistance, mechanical shock absorption, and anti-static among others. Packaging foam gives a cushioning effect to protect delicate items during shipping or transportation. During shipping, chances of damage need to be considered. To avoid such incidence, packaging foams are used inside delivery box or packages, or cases etc. These can be used for multi-purpose packaging, and are generally used for packaging of medical products, electronics, toys, and others.
Based on the material, the polyurethane (PU) segment is going to have a lucrative growth during the forecast period owing to the growing demand for packing materials purchased through e-commerce platforms in developing countries. Also, the presence of various advantages such as lightweight construction, excellent thermal insulation, strong adherence ability, and exceptional insulating and mechanical properties of foams are expected to continue to boost demand and drive revenue growth of this segment.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the easy availability of raw materials in this region as well as government schemes to promote foreign investment in countries in the region. Besides, increasing the e-shopping trend in countries such as India, China, Thailand, and Indonesia projected to boost the growth of the packaging foams market in this region.
Some of the key players profiled in the Packaging Foams Market include ACH Foam Technologies, Inc, Arkema, Armacell LLC, BASF SE, Borealis AG, Foampartner Group, Kaneka Corporation, Recticel, Rogers Corporation, Sealed Air, Synthos S.A, Total S.A, Zotefoams PLC, Dongshing Industry, Inc, Foamcraft Inc, Hanwha Corporation, Synbra Holding, and Tosoh Corporation.
• Rigid Foam
• Flexible Foam
• Polystyrene (PS)
• Polyurethane (PU)
• Poly Vinyl Chloride (PVC)
• Polyolefin (PO)
• Poly Vinylidene Fluoride (PVDF)
• Protective Packaging
• Food Service
• Corner And Edge Protectors
• Antistatic ESD Foam
End Users Covered:
• Personal Care
• Food & Beverage Industry
• Consumer Electronics
• Construction Industry
• Automobile Industry
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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