Foam Plastics Market Size, Revenue Share, Key Players, Growth

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High demand for plastic foams in packaging applications is a significant driver for the growth of revenue in the global plastic foams market

The global foam plastics market size is expected to reach USD 73.88 billion with a CAGR of 4.5% in 2028, according to the latest analysis from Emergen Research. The steady growth in market revenue can be attributed to the high demand for packaging applications, as the material enables a high level of safety and avoids damage during transportation along supply chains. Other major advantages of plastic foam applications in packaging are cost effectiveness and easy availability. Additionally, foam plastics can be molded into a wide variety of shapes and are therefore used in specific applications requiring custom packaging. In addition, the use of polyethylene foam in electronic product packaging provides superior cushioning, as well as good insulation during transport.

The shifting inclination of millennials towards outdoor recreational activities such as camping, hiking, trekking, and others is a key driver of market revenue growth. Due to their lightweight and flexible properties, foam plastics are widely used to produce camping products that can be easily carried while hiking and used for camping etc. Also, foam plastics provide exceptional thermal insulation to camping mats and bags, which are effective in providing warmth. to users in outdoor environments and prevent incidents of hypothermia.

The report thus comprises a broad segmentation of the market, comprising major product types and application ranges, and further determines the revenue, price, sales, production, growth rate, and forecasted market share of each market segment. Vital market statistics have been presented in tabular form to help readers understand the market dynamics. In addition, it provides a wide-ranging study highlighting key aspects of the industry such as import-export dynamics, production and consumption rates, sales channels and consumer bases in key regions. . Additionally, the report contains the latest changes in the market scenario and demand and supply ratios with respect to the ongoing COVID-19 pandemic. The research report offers an initial and future assessment of the impact of the COVID-19 pandemic on the industry and offers insights for businesses to overcome the difficulties raised by the crisis.

Market Size – USD 51.76 Billion in 2020, Market Growth – at a CAGR of 4.5%, Market Trends – Building & Construction Industry Growth

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Foam Plastics Market Competitive Outlook:

This section of the report conducts an in-depth investigation of the intensely competitive landscape of the global foam plastics market, highlighting the major manufacturers, strategic initiatives adopted by them, existing growth prospects, market positions and market shares. market held by each participant. The report places more emphasis on the development strategies undertaken by these companies, including product innovation, new product launch, and technology upgrading. Moreover, the report studies notable business events observed in this industry such as mergers and acquisitions, joint ventures, partnerships, corporate agreements, and brand promotions. Key industry participants include:

SABIC, Alchemie Ltd., BASF SE, Hexion Inc., Lanxess AG, Covestro AG, LyondellBasell Industries Holdings BV, Huntsman International LLC, LG Chem Ltd. and Tosoh Corporation.

Foam plastics market segmentation

Emergen Research has segmented the global foam plastics market on the basis of product type, distribution channel, application, and region:

Product Type Outlook (Revenue, USD Billion; 2018-2028)

Polystyrene

Polyethylene

Polyurethane

Phenolic

Polyolefin

Silicone

Polyvinyl chloride

Others

Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)

Direct

Indirect

Application Outlook (Revenue, USD Billion; 2018-2028)

Packaging

Building construction

Automotive

Sports

Shoe

Aerospace

Others

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Foam Plastics Market Highlights

In July 2019, Huntington Solution announced the acquisition of Texas Foam to increase its production of heat-sensitive packaging materials for merchandise sold through e-commerce channels.

By product type, the polystyrene segment accounted for a significantly large revenue share in 2020. Polystyrene foam plastic material is widely used in packaging and insulation. The material can be used according to specific application requirements, due to its versatile strength. It also has high compressive strength and hence is widely used in heavy load bearing applications. Additionally, low compressive strength materials are widely used in void forming applications.

By application, the building and construction segment accounted for a significantly larger revenue share than other application segments in 2020. Foam plastics are widely used in the building and construction industry for soundproofing and thermal insulation, among others. Additionally, these materials are used as expansion tapes and placed over vertical obstructions such as walls to provide complete floor insulation. Plastic foams are suitable for filling voids, providing roof flashing, sealing eaves and acting as a water and oil barrier. Additionally, these materials are used in expansion joints and provide noise control solutions for floor joists.

Key Objectives of the Global Plastic Foam Market Report:

An overall analysis and forecast estimate of the market has been included in this report.

The report offers valuable insights into key drivers, restraints, opportunities, and challenges facing the global Foam Plastics Market and its key players.

The report sheds light on the leading market competitors along with their business strategies and long-term expansion plans.

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Regional segmentation:

North America

Latin America

Europe

Middle East and Africa

Asia Pacific

In conclusion, the report provides qualitative and quantitative analysis of the global foam plastics market, including global and regional market analysis. The study covers critical information and industry factual data of the Plastic Foam market, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. Based on the current market scope, the report provides an in-depth analysis of how the foam plastics market is expected to perform in the forecast timeline. The report uses advanced analytical tools to offer an estimation outlook on the global state of the Foam Plastics Market industry.

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