PET Foam Market Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2031

𝐏𝐄𝐓 𝐅𝐨𝐚𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟑𝟏

The global PET foam market was valued at US$ 238.4 Mn in 2021
It is estimated to grow at a CAGR of 7.1% from 2022 to 2031
The global PET foam market is expected to reach US$ 474.1 Mn by the end of 2031

𝐑𝐞𝐚𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 - https://www.transparencymarketresearch.com/pet-foam-market.html

𝐏𝐄𝐓 𝐅𝐨𝐚𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

PET foam is a type of closed-cell thermoplastic structural foam. Polyester resin, also referred to as polyethylene terephthalate, is its primary constituent. PET foam is widely used for its structural properties such as specific shear and compression strength. It is lightweight and recyclable. It can also withstand high temperatures for a long time. PET foam can be easily heated and conformed to specific shapes. PET foam is used as a thermoplastic core material in various applications to improve performance. It is used in sandwich panel applications in wind power, shipbuilding, and railway trains. It offers good dimensional stability at high temperatures. PET foam core is employed in composite materials for prefabricated rooms for train carriages, wind turbines, and maritime applications. PET foam sheet is widely used in industries such as construction, aviation, marine, road transport, and wind turbine manufacturing. PET foam is also significantly used in the wind energy industry. It is widely used as a substitute for high-performance materials due to its high strength-to-weight ratio, durability, and versatility. Thus, PET foam helps improve performance, reduce cost, and achieve design flexibility. This ultimately results in an energy-efficient wind energy system.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=5357

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐏𝐄𝐓 𝐅𝐨𝐚𝐦 𝐢𝐧 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 & 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲

PET foam is extensively used as a composite material in the construction industry for manufacturing window frames, roofs, domes, gates, and doors. Rise in investment in infrastructure development activities in developing countries is expected to drive the demand for PET foam. PET foam combines the properties of structural load-bearing and thermal insulation, which is beneficial as a building material in the construction industry. It also has lower density compared to the conventional construction material; thus, it helps lower installation and structural costs. In terms of volume, the global construction sector is expected to reach US$ 15.5 Trn by 2030. Currently, China, the U.S., and India account for 57% share of the global construction sector. Rise in construction activities is expected to boost residential and non-residential sectors in the near future. This, in turn, is anticipated to augment the demand for PET foam products.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=5357

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐏𝐄𝐓 𝐅𝐨𝐚𝐦 𝐢𝐧 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐒𝐞𝐜𝐭𝐨𝐫𝐬

Based on end-user, the PET foam market has been classified into transportation, wind energy, building & construction, marine engineering, packaging, and others. The transportation segment accounted for major share of 30.2% of the global market in 2021. The segment is estimated to grow at an above-average CAGR of 7.0% during the forecast period. The transportation industry includes roadways and railways. PET foam board is used as a core composite material in airplanes, cars, trucks, buses, and trains. It can help reduce automotive weight, fuel consumption, and thus CO2 emissions. PET foam is extensively used in the manufacture of automotive parts such as interior and exterior structural parts, floors, sidewalls of vehicles, wiper arms, and gear housings. Thus, it helps lower the cost of manufacturing. PET foam is employed as a substitute to reduce vehicle weight and metal parts in the automobile sector due to ease of mass production and molding, without compromising on the structural strength and stability. Thus, pet foam manufacturers are likely to gain lucrative opportunities in automotive and transportation sectors during the forecast period.

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐅𝐥𝐞𝐱𝐢𝐛𝐥𝐞, 𝐂𝐨𝐬𝐭-𝐞𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐭, 𝐚𝐧𝐝 𝐕𝐞𝐫𝐬𝐚𝐭𝐢𝐥𝐞 𝐏𝐞𝐭 𝐅𝐨𝐚𝐦 𝐢𝐧 𝐖𝐢𝐧𝐝 𝐄𝐧𝐞𝐫𝐠𝐲 𝐒𝐞𝐜𝐭𝐨𝐫

Wind energy is one of the major markets for PET foam. The foam is used in sandwich constructions for rotor blades, nacelles, and spinners. PET foam is increasingly used in the manufacture of wind blades and other structural components that can be employed in the wind energy sector due to its high strength-to-weight ratio, durability, and versatility. This helps achieve greater performance, cost reduction, flexible design, and increased energy efficiency. Nearly 1.7 kg of PET foam is used in onshore wind turbines. Increase in preference for using clean and renewable sources of energy over traditional fuels is driving the demand for wind energy. Various government-backed initiatives are encouraging the incorporation of PET foam in the wind energy sector. Increase in application of recycled pet foam is also expected to drive the pet foam market. Lower cost of PET foam compared to other high-performing materials such as polymethacrylamide and polyetherimide foams is driving the demand for PET foam in the wind energy sector.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 -https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=5357

𝐖𝐢𝐝𝐞 𝐔𝐬𝐚𝐠𝐞 𝐨𝐟 𝐋𝐨𝐰 𝐃𝐞𝐧𝐬𝐢𝐭𝐲 𝐏𝐄𝐓 𝐅𝐨𝐚𝐦 𝐢𝐧 𝐄𝐧𝐝-𝐮𝐬𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐀𝐮𝐠𝐦𝐞𝐧𝐭𝐢𝐧𝐠 𝐆𝐥𝐨𝐛𝐚𝐥 𝐏𝐄𝐓 𝐅𝐨𝐚𝐦 𝐌𝐚𝐫𝐤𝐞𝐭

Based on grade, the PET foam market has been bifurcated into high density foam and low density foam. The low density foam segment held major share of the global PET foam market in 2021. Low density PET foam is primarily used as a lightweight composite material in construction, automotive, transportation, and wind energy sectors. Low density pet foam possesses properties such as high strength and durability. It is also used as an alternative to polystyrene or balsa wood in structural sandwich materials. These structural sandwich materials are lightweight products that are increasingly used in packaging and marine engineering applications.

𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐏𝐄𝐓 𝐅𝐨𝐚𝐦 𝐌𝐚𝐫𝐤𝐞𝐭

The PET foam market is partially consolidated. Expansion of manufacturing facilities worldwide is one of the key strategies adopted by major players to increase their footprint in the market. Key players also adopt strategies such as joint ventures and partnerships, new technology and product launches, and R&D activities. 3A Composites, Armacell International S.A., CoreLite Composites, Carbon-Core Corporation, BASF SE, and DIAB Group are the prominent entities operating in the global PET foam market.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭

Rohit Bhisey
Transparency Market Research Inc.
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