PET Foam Market | Key players operating in the market include Armacell International SA, 3A Composites, Gurit Holding, DIAB Group, Sekisui Plastics

According to recent market research "PET Foam Market by Raw Material (Virgin PET and Recycled PET), Grade (Low-density and High-density), Application (Wind Energy, Transportation, Marine, Building & Construction, Packaging) and Region - Global Forecast to 2027", is projected to grow from USD 361 million in 2022 to USD 503 million by 2027, at a CAGR of 6.9% from 2022 to 2027. PET foam can be readily modified based on application requirements and is mainly used in the mid-layers of sandwiched composite structures. The market for PET foam is competitive and mainly dominated by established players. The threat of new entrants in this market is low, as the market is capital-intensive.

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By raw material, recycled PET foam is estimated to be the fasted-growing segment during the forecast period, in terms of volume

With the rising demand for energy conservation and environmental protection, PET foam is extensively used as roofing or external wall insulation material in green buildings. This has created an opportunity for the PET foam manufacturers to incorporate some percentage of recycled PET resin into PET foam production.

By grade, high-density PET foam is estimated to be the fasted-growing segment during the forecast period, in terms of volume

In some industries such as marine, transport, and railways, the use of plywood is prone to decay when exposed to water. High-density foams are appropriate for applications in the new range of PET foam densities up to 320 kg/m3. High-density foam offers stability and peel strength to sandwich constructions.

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The PET foam market is projected to grow from USD 361 million in 2022 to USD 503 million by 2027, at a CAGR of 6.9% from 2022 to 2027, owing to increasing demand from the wind energy and marine industry.

Armacell International SA (Luxembourg), 3A Composites (Switzerland), Gurit Holding (Switzerland), DIAB Group (Sweden), Changzhou Tiansheng New Materials Co. Ltd (China), Sekisui Plastics (Japan), Petro Polymer Shargh (Iran), and Carbon-Core Corp. (US) are some of the key players operating in the PET foam market. These players have adopted strategies such as agreements, partnerships & joint ventures, new product & technology launches, and expansions to enhance their business revenue and market share. Expansion of manufacturing plants and offices globally is the key strategy adopted by these players to cater to the increasing demand for PET foam.

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Diab Group (Ratos AB) is one of the major players in the global PET foam market. The company develops, manufactures, and sells core materials for sandwich composite structures. In October 2021, in the Mundra plant, SKAPS - Diab started production of pet foam. SKAPS manufactures Diabs Divinycell pet range of products in response to the rising demand for pet core materials from the wind energy sector in India. The material has been designed to meet blade designs with the goal of lowering wind blade production costs. It provides high shear strain and optimal resin uptake.

Another important player in the global PET foam market is Armacell International S.A. In February 2021, Armacell International S.A. launched the ArmaPET brand family. The company's innovative and environment-friendly PET-based foam products are expected to be now offered under the ArmaPET family name. The new brand has four sub-brands, namely, ArmaPET Struct, ArmaPET Eco, ArmaPET Curve, and ArmaPET Shape.

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