Foam Protective Packaging Market to Record CAGR of 4.87% Over 2024-2032

The foam protective packaging market size was valued at USD 12.18 billion in 2023 and is expected to be worth USD 12.65 billion in 2024. The market is projected to reach USD 18.50 billion by 2032, recording a CAGR of 4.87% during the forecast period.

Foam protective packaging solutions are a range of products used specifically to protect several products from damage during transportation, handling, and storage. There are several types of foam used in these solutions, such as Polyurethane (PU), Expanded Polystyrene (EPS), and Polyethylene (PE). They can be turned into different forms and shapes, such as foam sheets, rolls, and molded foams to suit the packaging requirements of different industries. They also possess properties, such as excellent shock absorption properties, lightweight, and protection against various external hazards, making them popular in several industries.

The COVID-19 pandemic slowed the market's growth as several industries, such as automotive were severely hit during this period, which reduced the production of vehicles and their components. This factor decreased the demand for foam protective packaging products to pack these parts.
Fortune Business Insights™ displays this information in a report titled, "Foam Protective Packaging Market, 2024-2032."

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LIST OF KEY COMPANIES PROFILED IN THE REPORT:
• Armacell (U.S.)
• Storopack Hans Reichenecker GmbH (Germany)
• Nefab Group (Sweden)
• JSP (Japan)
• Zotefoams (U.K.)
• Sealed Air Corporation (U.S.)
• Synthos (Poland)
• Rogers Foam Corporation (U.S.)
• Kaneka Corporation (Japan)
• Arkema (France)
• Recticel Engineered Foams Belgium BV (Belgium)
• Pregis Corporation (U.S.)
• IPS Packaging & Automation (U.S.)
• Volk Packaging (U.S.)
• Supreme Industries Ltd. (India)

Segmentation:

Demand for Polyurethane Foam Products Rises Due to Its Superior Cushioning and Shock Absorption Features
Based on material, the market is segmented into Polyurethane (PU), Polystyrene (PS), Polyethylene (PE), and Polyvinyl Chloride (PVC). The Polyurethane (PU) segment dominates the market as foam products made from this material offer excellent shock absorption and cushioning properties.

Flexible Foam Packaging Products Gain Major Traction Due to Demand for Increased Efficiency in Supply Chains
Based on packaging type, the market is segmented into flexible foam and rigid foam. The flexible foam segment is holding the largest market share as flexible foam packaging products can help organizations decrease their freight costs due to their lightweight nature. This feature can significantly increase the efficiency of their supply chain and logistics.

Electronics Industry Increase Use of Foam Packaging Products to Transport Fragile Electronics
Based on end-use industry, the market is segmented into food & beverages, pharmaceuticals, aerospace & defense, electronics, automotive, household, personal care & cosmetics, and others. The electronics segment is holding the largest global foam protective packaging market share as several consumer electronics manufacturers use foam protective packaging products to transport high-value and fragile electronics, such as smartphones and laptops.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading materials, packaging types, end-use industries, and key market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.

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Drivers and Restraints:

Strong Growth of E-Commerce and Electronics Industries to Fuel Market Expansion
The e-commerce industry is showcasing robust growth every year as an increasing number of people are opting for online shopping platforms to purchase various goods. This factor has boosted the demand for high-quality and robust protective packaging solutions to safely transport fragile and high-value products.
However, the rising presence of alternative packaging solutions, such as molded pulp and paper-based packaging can hinder the foam protective packaging market growth.

Regional Insights:

Asia Pacific Dominates Global Market Due to Rapid Expansion of E-Commerce Sector
Asia Pacific is holding the largest market share as the region is witnessing a notable expansion in its e-commerce industry owing to the widespread penetration of internet services. Moreover, large-scale industrialization is another factor that will bolster the adoption of foam protective packaging solutions to safely transport high-value industrial goods.
North America has captured the second-largest market share due to the rising demand for reliable and safe packaging solutions across industries, such as automotive and electronics.

Competitive Landscape:

Key Market Players to Launch Novel Packaging Solutions to Remain Competitive
The market's competitive landscape is highly fragmented, with a handful of key companies holding a dominant position. These organizations are partnering with other manufacturers to develop and launch cutting-edge protective packaging products to expand their current product range and gain a strong competitive edge.

Notable Industry Development:
February 2024 - Pregis, a key manufacturer of protective packaging products, launched a protective packaging product made from certified-circular polyethylene resins. The product was developed in partnership with ExxonMobil, one of the leaders in state-of-the-art recycling technologies.

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Protective Packaging Market:
https://www.fortunebusinessinsights.com/protective-packaging-market-107319

Packaging Foams Market
https://www.fortunebusinessinsights.com/packaging-foam-market-109408

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This release was published on openPR.