Global Foamed Plastic Insulation Products Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast

The Global Foamed Plastics Insulation Market Size was valued at USD 103.1 billion in 2021 and is expected to reach USD 105 billion in 2022 and is estimated to reach USD 125 billion by the end of 2030 at a CAGR of approximately 3.5% during the forecast period 2022-2030.

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Foam Plastic Insulation Products Market: Overview

The foam plastic is an expanded polymer plastic that appears as a sponge-like structure filled with air bubbles. The foamed plastics are made of different polymers and range in different types based on the polymer. These are more diverse than the usual plastics in terms of flexibility, reliability, and convenience. There are two types of foam plastics. The open-cell plastic foams have created the pressure exerted in which the inert gas fills the resin. The blowing agent makes closed-cell foam plastics that disrupt a specific melting point. Foam plastics are used in various industries, including building and construction, food and beverages, automobiles, etc. The foam plastics offer lower water absorption, good mechanical strength, heat conduction, good insulating properties, etc.

Foam Plastic Insulation Products Market: Growth Drivers

Foam plastics are innovative materials widely used for packaging and storing products, protecting them from outer disturbances. Such plastics provide shockproof and safe packaging of the product and are widely used for industrial and non-industrial goods.

The retailers and manufacturers are responsible for product transportation, whether in shops or to the customers.

The manufacturers and retailers must ensure that the product in transit is safe and secure. Such factor drives the market growth for foam plastics.

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Key Insights:

A) As per the analysis shared by our research analyst, the Foam Plastic Insulation Products market is estimated to grow annually at a CAGR of around 3.5% over the forecast period (2022-2030).
B) In terms of revenue, the Foam Plastic Insulation Products market size was valued at around USD 103.1 Billion in 2021 and is projected to reach USD 125 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The imposed restrictions on the usage of foam plastics across regions like North America and Europe hamper the market growth. There is a restriction on the use of expanded polystyrene for food packaging from the regulatory authorities, which restricts the market growth.
D) The emergence of the third-party logistics service provider serves as an opportunity for the manufacturers to increase their sales; hence, it could provide a golden opportunity for expanding the foam plastics market across the globe.
E) One of the significant challenges regarding foam plastic materials is the collection of all the relevant materials in one place and sorting them by code name. It is a time-consuming process that requires attention. Apart from the sorting process, it also requires enormous costs for processing and treatment.

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Regional Landscape

Based on geography, the Asia-Pacific region has occupied the largest market share in 2021, with a market share of 47%, and is expected to grow significantly during the forecast period. The rise in demand for foam plastic products and e-commerce platforms for safe and secure packaging drives the market growth in APAC. Numerous industries, including food & beverages, transportation, construction & building, automotive, and electronics, utilize foam plastics to keep their products safe. China is the major contributor to the foam plastics market across APAC, which accounts for 58% of the regional market share.

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Key Players

Trelleborg

· Dow

· Avery Dennison Corporation

· Owens Corning

· 3M Company

· Dupont

· Sika

· BASF

· Johns Manville

· Dunmore

· Knauf Insulation

· Saint-Gobain

· ACH Foam Technologies

· American Excelsior

· INOAC Corporation

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The Foam Plastic Insulation Products Market is segmented as follows:

By Type

Polyurethane Foam
Polystyrene
Polyisocyanurate
Phenolic Foam
Others

By Application

Building & Construction
Industrial
Residential
Other

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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This release was published on openPR.