Foam Plastics Market Size, Industry Trends, Business Opportunities, Strategies, Key Players Analysis and Forecast 2028

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High demand for foam plastics in packaging applications is a significant factor driving global foam plastics market revenue growth

Foam Plastics Market Size – USD 51.76 Billion in 2020, Market Growth – at a CAGR of 4.5%, Market Trends – Growth of building & construction industry”
— Emergen Research

VANCOUVER, B.C, CANADA, June 27, 2023/EINPresswire.com/ -- According to the most recent analysis by Emergen Research, the size of the global foam plastics market is anticipated to reach USD 73.88 billion in 2028, with a revenue CAGR of 4.5%. The increasing demand for packaging applications, which allows for a high level of safety and damage avoidance during transportation along supply chains, can be attributable to the steady market revenue growth.

The affordability and accessibility of foam plastic are two additional key benefits for use in packaging. Foam plastics may also be moulded into a broad range of shapes, making them ideal for use in applications that need specialised packaging. Additionally, the use of polyethylene foam in the packaging of electronics enables great cushioning and effective insulation during shipping.

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One of the main factors boosting market revenue growth is millennials' shifting preferences for outdoor leisure pursuits including camping, hiking, trekking, and other similar pursuits. Foam plastics are frequently used to make lightweight, flexible camping gear that is convenient to carry when trekking and use for camping, etc.

The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Foam Plastics market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.

Companies profiled in the global Foam Plastics market:

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

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Some Key Highlights From the Report

In July 2019, Huntington Solution announced acquisition of Texas Foam to increase its production of temperature-sensitive packaging materials for goods sold via e-Commerce channels.

By product type, polystyrene segment accounted for significantly large revenue share in 2020. Polystyrene-based foam plastic material is widely used in packaging and insulation. The material can be used as per requirement of specific applications, owing to its versatile strength. It also has high compressive strength and hence is widely used in heavy load bearing applications. In addition, lower compressive strength materials are extensively used in void forming applications.

By application, building & construction segment accounted for significantly larger revenue share than other application segments in 2020. Foam plastics find extensive use in the building & construction sector for soundproofing and heat insulation, among others. Also, these materials are used as dilatation tapes and placed at vertical obstacles such as walls to provide complete flooring insulation.

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

Footwear

Aerospace

Others

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The Global Foam Plastics Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Foam Plastics market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.

Regional Analysis Covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Features of the Foam Plastics Market Report:

The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats

The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares

Evaluation of key current and emerging market trends and growth prospects

It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth

Brief overview of industry with regards to research and development, technological advancements, and product development

In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario

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Eric Lee
Emergen Research
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