Packaging Foams Market | USD 17.3 billion by 2023 with 6% CAGR - Global Forecast to 2023 By MRFR

Global Packaging Foams Market Information Report by Structure (Flexible Foam and Rigid Foam), by Material (Polystyrene, Polyurethane, and Others), by Service (Food Service, Protective Packaging, and Others) and by Region - Global Forecast to 2023
Market Synopsis:

Foam packaging is the process of combining gas in liquid and solid. Foam packaging is generally used in electronics, toys and others. They can be used for multi-purpose packaging repeatedly. It is least expensive and is used to protect the products.

One of the factors driving the growth of packaging foams market is the increase in technology developments in packaging, which have resulted in increasing usage of foams. Advancement in techniques in transportation so as to reduce the cost of transportation have also resulted in the growth of this market.

The Global Packaging Foams Market is expected to account for USD 17.3 billion by 2023 with 6% CAGR.

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Key Players
The key players of Global Packaging Foams Market are Armacell (Germany), JSP (Japan), Zotefoams Plc. (U.K.), BASF SE (Germany), Sealed Air Corporation (U.S.), Synthos SA (Poland), Rogers Corporation (U.S.), Kaneka Corporation (Japan), Arkema (France), and Foampartner Group (Switzerland) and others.

Regional Analysis:
The global packaging foam market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing region at a considerably high CAGR. The presence of the most populated countries of the world such as India and China has augmented the demand for foam packaging in various sectors such food and beverage, electronics and automotive among others, which, in turn, is anticipated to fuel the demand for packaging foam in the region. Moreover, the growing construction sector is also expected to contribute to the market growth.

Market Scenario:
The flexible form of foam packaging is expected to witness high growth among the product type segment during the forecast period. The ability of flexible foam packaging in the protection of fragile, lightweight and shock sensitive devices makes it ideal to be used in the packaging of medical and electronic devices. Moreover, the flexible form can be moulded in any shape and is suitable for packaging wide range of products, hence, adding to the growth of the segment.

Market Segmentation:
The global packaging foam market is segmented into product type, material type, and end-user. On the basis of the product type, the market is segregated into flexible foam, and rigid foam. The market by material type is further categorized into Polystyrene (PS), Poly Vinyl Chloride (PVC), Polyutherene (PU), and others. The market by end-user industry is bifurcated into building and construction, automotive, food and beverage, homecare and personal care, others

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The report for Global Packaging Foams Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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