Press release
Foam Plastics Market Size, Revenue Share, Major Players, Growth Analysis, and Forecast, 2021-2028
The global foam plastics market size is expected to reach USD 73.88 billion at a revenue CAGR of 4.5% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to high demand in packaging applications as the material enables high level of safety and damage avoidance during transportation along the supply chains. Other major advantages of foam plastic applications in packaging is cost-effectiveness and easy availability. Also, foam plastics can be molded into a wide variety of shapes, and is thus used in specific applications demanding custom packaging. Also, usage of polyethylene foam in electronics goods packaging ensures superior cushioning, as well as good insulation during transportation.
Shifting inclination among millennials towards outdoor recreational activities such as camping, hiking, trekking, and others is a key factor driving market revenue growth. Due to lightweight and flexible properties, foam plastics are extensively used to produce camping products that can be easily carried while hiking and used for camping etc. Also, foam plastics deliver exceptional heat insulation to camping sleep mats and bags, which are effective in providing warmth to users in outdoor environments and prevent incidents of hypothermia.
The report thus includes a broad segmentation of the market, comprising the major product types and application ranges, and further determines the revenue, price, sales, production, growth rate, and the forecast market share of each market segment. Vital market statistics have been presented in a tabular format to help readers understand the market dynamics. Furthermore, it delivers a wide-ranging study highlighting the key industry aspects, such as import-export dynamics, production and consumption rates, sales channels, and consumer bases in the key regions. Furthermore, the report is furnished with the latest changes in the market scenario and demand and supply ratios with regards to the currently unfolding COVID-19 pandemic. The research report offers an initial and future assessment of the impact of the COVID-19 pandemic on the industry and offers insights for the businesses to overcome the difficulties raised by the crisis.
Market Size - USD 51.76 Billion in 2020, Market Growth - at a CAGR of 4.5%, Market Trends - Growth of building & construction industry
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Foam Plastics Market Competitive Outlook:
This section of the report performs a thorough investigation into the intensely competitive landscape of the global Foam Plastics market, highlighting the leading manufacturers, strategic initiatives adopted by them, the existing growth prospects, market positions, and market shares held by each participant. The report further emphasizes the developmental strategies undertaken by these companies, including product innovation, new product launches, and technological upgradation. Moreover, the report studies the notable business events observed in this industry, such as mergers & acquisitions, joint ventures, partnerships, corporate deals, and brand promotions. The key industry participants include:
SABIC, Alchemie Ltd., BASF SE, Hexion Inc., Lanxess AG, Covestro AG, LyondellBasell Industries Holdings BV, Huntsman International LLC, LG Chem Ltd., and Tosoh Corporation.
Foam Plastics Market Segmentation
Emergen Research has segmented the global foam plastics market on the basis of product type, distribution channel, application, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
Polystyrene
Polyethylene
Polyurethane
Phenolic
Polyolefin
Silicone
Polyvinyl Chloride
Others
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
Direct
Indirect
Application Outlook (Revenue, USD Billion; 2018-2028)
Packaging
Building & Construction
Automotive
Sports
Footwear
Aerospace
Others
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Foam Plastics Market Key Highlights
In July 2019, Huntington Solution announced acquisition of Texas Foam to increase its production of temperature-sensitive packaging materials for goods sold via e-Commerce channels.
By product type, polystyrene segment accounted for significantly large revenue share in 2020. Polystyrene-based foam plastic material is widely used in packaging and insulation. The material can be used as per requirement of specific applications, owing to its versatile strength. It also has high compressive strength and hence is widely used in heavy load bearing applications. In addition, lower compressive strength materials are extensively used in void forming applications.
By application, building & construction segment accounted for significantly larger revenue share than other application segments in 2020. Foam plastics find extensive use in the building & construction sector for soundproofing and heat insulation, among others. Also, these materials are used as dilatation tapes and placed at vertical obstacles such as walls to provide complete flooring insulation. Foam plastics are appropriate for filling gaps, provide roof flashing, eave sealing, and acts as a barrier against water and oil. In addition, these materials are used in expansion joints and offer noise control solutions for floor joists.
Key Objectives of the Global Foam Plastics Market Report:
An all-inclusive analysis and forecast estimation of the market have been included in this report.
The report offers valuable insights into the major drivers, limitations, opportunities, and challenges faced by the global Foam Plastics market and its leading players.
The report sheds light on the prominent market contenders, as well as their business strategies and long-term expansion plans.
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Regional Segmentation:
North America
Latin America
Europe
Middle East & Africa
Asia Pacific
In conclusion, the report provides a qualitative and quantitative analysis of the Global Foam Plastics market, including the global and regional analysis of the market. The study covers critical information and factual data about the Foam Plastics market industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Foam Plastics market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Foam Plastics market industry.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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