Packaging Foams Market Analysis
The global packaging foams market is poised to touch USD 17.3 billion at 6% CAGR over the assessment period (2018-2023). Proper packaging is needed when goods are stored for long or are transported. Packing foams are in great demand as it is available in both hard and soft varieties. While transporting extremely fragile goods, the soft variety packaging foams can be used to ensure that the goods does not get spoiled. On the contrary, while packing sturdy goods, the harder varieties are used as it will help in keeping the products safe against heavy impacts. High quality packaging foams can protect various products by serving as a cushion against falls and bumps. Foam is lightweight, is easy to manufacture as well as customize thereby making it light on the pocket. It comes in various styles and types and can be customized for catering to the specific designs of products.
There are ample factors that is boosting the growth of the packaging foams market. These factors as stated by the Market Research Future (MRFR) report include growing demand from various end-use industries, technological advancements in transportation and packaging techniques, increased online purchase of products, various alluring characteristics namely mechanical shock absorption, anti-static, corrosion resistance, shock resistance, lightweight material, and budget friendly. On the contrary, fluctuations in the price of raw materials may hamper the growth of the market over the assessment period.
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Leading players profiled in the packaging foams market include ACH Foam Technologies, Inc (England), UFP Technologies, Inc, Sealed Air Corporation (U.S.), Borealis Ag (Austria), BASF SE (Germany), Zotefoams Plc. (U.K), JSP (Japan), Armacell Enterprise GmbH & Co. KG (Germany), and others.
May 2019- Huntington Solutions, leading foam manufacturer in South Carolina has finally completed their earlier announced deal of purchasing Virginia based foam packaging products provider, Radva for the food, pharmaceutical and medical industries.
MRFR report provides an extensive segmental analysis of the packaging foams market on the basis of material type, product type and end-use.
By product type, it is segmented into rigid foam and flexible foam. Of these, the flexible foam will have the largest share in the market over the assessment period. This is owing to its increasing use in sensitive products namely jewelry, computer parts, electronic parts and fruits.
Based on material type, the packaging foams market is segmented into polyutherene (PU), poly vinyl chloride (PVC), polystyrene and others. Of these, polystyrene will dominate the market over the assessment period.
Based on end-user industry, it is segmented into personal care, homecare, food and beverage, automotive, building and construction and others.
By region, the packaging foams market covers growth opportunities and latest trends across Middle East and Africa, Latin America, Europe, North America and Asia Pacific. Of these, Asia Pacific will sway the market and is predicted to grow at the fastest pace at a high CAGR over the assessment period. The presence of the most highly populated countries namely China and India have boosted the need for foam packaging in different sectors including automotive, electronics, food and beverage among others. This in turn is propelled to boost the market growth here. Besides, the developing construction sector here is also predicted to boost the market growth. The packaging foams market in Europe will witness a notable growth during the assessment period due to the flourishing personal care industry and healthcare industry. The rising utilization of packaging foam in car seats, instrument panels and knobs amid others is adding to the growth of the market in this region. In North America, the packaging foams market is chiefly driven by Canada and the US. The presence of various developed end-user industries namely construction and automotive along with the growing adoption rate is significantly contributing to the market growth here. Besides, the increasing demand for packaging foams from the food and beverage sector is also predicted to add to the market growth.
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Table Of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
LIST OF TABLES
TABLE 1 GLOBAL PACKAGING FOAMS MARKET, BY STRUCTURE
TABLE 2 GLOBAL PACKAGING FOAMS MARKET, BY MATERIAL
TABLE 3 GLOBAL PACKAGING FOAMS MARKET, BY SERVICE
TABLE 4 GLOBAL PACKAGING FOAMS MARKET, BY REGIONS
TABLE 5 NORTH AMERICA PACKAGING FOAMS MARKET, BY STRUCTURE
TABLE 6 NORTH AMERICA PACKAGING FOAMS MARKET, BY MATERIAL
TABLE 7 NORTH AMERICA PACKAGING FOAMS MARKET, BY SERVICE
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