BANGALORE, India, Sept. 8, 2021 /PRNewswire/ — The Packaging Foams Market is Segmented by Type (Polystyrene Foam, Polyurethane Foam, Polyolefin Foam, Others), by Application (Food Service, Protective Packaging). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Packaging Category.
The global Packaging Foams market size is projected to reach USD 15970 Million by 2027, from USD 11980 Million in 2020, at a CAGR of 4.9% during 2021-2027.
Major factors driving the growth of the packaging foams market are:
Increasing e-commerce and rising exports-imports are expected to drive the packaging foams market. Since the foam is soft, which makes it perfect for shipping fragile items. Furthermore, large items like furniture need packaging foams to cushion them from impact damage during shipping.
Because of the changing urban lifestyle, the need for ready-to-eat and quick food is increasing, which is boosting the demand for foam packaging.
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TRENDS INFLUENCING THE GROWTH OF THE PACKAGING FOAMS MARKET
The global packaging foam market has grown as a result of incremental expansion in the e-commerce industry and an increase in the sale of protective packaging materials. For product transportation, packaging foam makers utilize lightweight packs, streamlined designs, and recyclable materials. As a result, the worldwide packaging foam market is expected to rise at a faster rate over the forecast period.
Growing demand for ready-to-eat and takeaway foods is expected to fuel the packaging foam market during the forecast period. Polystyrene foam packing is widely used for food packaging. Clear food containers, plates, bowls, beverage cups and lids, cutlery, and straws are all made in the hard shape Polystyrene foam.
Foam packaging is cost-effective due to its lightweight. The heavier the package, the more shipping cost will be. Thus lightweight nature of foam packaging helps you save money on shipping as it is both light in weight and effective in protecting the product from any damage. This feature is expected to increase its adoption and thereby increase the foam packaging market.
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PACKAGING FOAMS MARKET SHARE ANALYSIS
Based on type, polyurethane (PU) & Polystyrene (PS) segments are expected to be most lucrative during the forecast period. The growing need for packaging materials in the e-commerce business in emerging nations like Russia, China, India, and others would promote the use of polyurethane foams in packaging. Lightweight construction, excellent thermal insulation, and a quick and cost-effective building method are just a few of the benefits of PU-cored foams. On the other hand, flotation devices, insulation, egg cartons, sandwiches, and hamburger boxes are all made with Polystyrene (PS).
Based on region, Asia-Pacific is expected to develop at the fastest CAGR. This trend may largely be credited to the Asia-Pacific region’s rapid economic growth, which has been accompanied by an increase in the region’s e-commerce activity.
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Major Key Players in the Packaging Foams Market
- ACH Foam Technologies
- Arkema
- Armacell
- BASF
- Borealis
- Foampartner
- JSP
- Kaneka
- Recticel
- Rogers Foam
- Sealed Air
- Synthos
- Total
- Zotefoams
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SIMILAR REPORTS
– The global Containerboard market size is projected to reach USD 198430 Million by 2027, from USD 155920 Million in 2020, at a CAGR of 4.1% during the forecast period 2021-2027.
– The global Corrugated Packaging market size is projected to reach USD 250330 Million by 2027, from USD 220980 Million in 2020, at a CAGR of 2.1% during 2021-2027.
– The global Edible Packaging market size is projected to reach USD 581.8 Million by 2027, from USD 473.3 Million in 2020, at a CAGR of 3.5% during the forecast period 2021-2027.
– In 2020, the global Sterile Medical Packaging market size was USD 27300 Million and it is expected to reach USD 41780 Million by the end of 2027, with a CAGR of 6.2% during the forecast period 2021-2027.
– In 2020, the global Foam Protective Packaging market size was USD 4977 Million and it is expected to reach USD 6279.4 Million by the end of 2027, with a CAGR of 3.4% during 2021-2027.
– In 2020, the global Molded Fiber Packaging market size was USD 4587 Million and it is expected to reach USD 6393.1 Million by the end of 2027, with a CAGR of 4.9% during 2021-2027.
– In 2020, the global Modified Atmospheric Packaging market size was USD 1303 Million and it is expected to reach USD 1814.2 Million by the end of 2027, with a CAGR of 4.8% during 2021-2027.
– In 2020, the global Monodose Packaging for Probiotics and Nutraceutical market size was USD 241.3 Million and it is expected to reach USD 369.3 Million by the end of 2027, with a CAGR of 6.3% during 2021-2027.
– The global foam plastics market was valued at USD 102.0 Billion in 2019, and is projected to reach USD 123.7 Billion by 2027, growing at a CAGR of 3.3% from 2020 to 2027.
– In 2020, the global Technical Foam market size was USD 12060 Million and it is expected to reach USD 18280 Million by the end of 2027, with a CAGR of 6.1% during 2021-2027.
To see the full list of related reports on the Packaging Foams Industry
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