The global foam plastics market size is expected to reach USD 73.88 billion at a revenue CAGR of 4.5% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to high demand in packaging applications as the material enables high level of safety and damage avoidance during transportation along the supply chains. Other major advantages of foam plastic applications in packaging is cost-effectiveness and easy availability. Also, foam plastics can be molded into a wide variety of shapes, and is thus used in specific applications demanding custom packaging. Also, usage of polyethylene foam in electronics goods packaging ensures superior cushioning, as well as good insulation during transportation.
The global Foam Plastics market is anticipated to amass a staggering revenue over the forecast years. The report is an extensive compilation of intelligent market research studies that are bound to help companies and stakeholders make informed business decisions in the long run. The report further focuses on the strategic initiatives and business expansion plans undertaken by the key players participating in the Foam Plastics industry. An assessment of the effective strategies used by these players, such as mergers acquisitions, joint ventures, partnerships and collaborations, government corporate deals, brand promotions, and new product launches, has been entailed in the report.
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The research study presents an industry-wide summary of the Foam Plastics market including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The global Foam Plastics research report is an investigative study of the market that offers key statistical data with regards to market size, market share, revenue growth, and CAGR over the forecast period 2021-2028.
The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.
Leading Players Profiled in the Report:
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)
Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)
Application Outlook (Revenue, USD Billion; 2018–2028)
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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. Foam plastics are appropriate for filling gaps, provide roof flashing, eave sealing, and acts as a barrier against water and oil. In addition, these materials are used in expansion joints and offer noise control solutions for floor joists.
Foam Plastics Market Key Regions
Major regions include North America, Latin America, Europe, Asia-Pacific, and the Middle East Africa. The report studies the market in these regions on the basis of demand and trends, consumer behavior and preferences, government initiatives and regulatory framework, economic growth, technological developments, supply and demand, production and consumption patterns, import/export, and presence of key players in each region.
Key Regions Analyzed in the Report:
Rest of Europe
Rest of APAC
Rest of Latin America
Middle East Africa
Rest of Middle East Africa
In conclusion, the report provides a qualitative and quantitative analysis of the Global Foam Plastics market, including the global and regional analysis of the market. The study covers critical information and factual data about the Foam Plastics market industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Foam Plastics market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Foam Plastics market industry.
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