The global Packaging Foams market is expected to develop ~US$ 3 Bn by 2030, at a compound annual increase in price (CAGR) of ~5 % throughout the forecast period.
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"The Global Packaging Foams Market 2020-2030 (USD Billion)")
Packaging foams are the packing materials that are used to pack different products. It is manufactured through multiple materials including polyurethane, polystyrene, and polyolefin. Foams exhibit excellent thermal insulating properties and sound cancellation properties. These are produced through different processes such as different forms of molding, extrusion, and slab-stock by pouring. The product finds several application including insulation, cushioning, mattress, packaging, and associated applications.
The rising end-user inclination toward the e-commerce industry has compelled industry players to focus on the effective packaging of goods owing to the fragile nature. It is used for packing glassware, electronic products, and other consumer durables. Lightweight, low cost, thermal insulation are some of the prime factors offered by the product in comparison to other available alternatives which is positively influencing the industry growth.
Over the years, the electrical & electronics industry has witnessed consistent growth owing to the introduction of new developments, technologies and advancement across the industry such as fingerprint sensors, face recognition, and 4G. Shifting inclination toward integration of automated technologies in the industry has led to a reduction in product prices owing to which electronic gadgets have witnessed exponential growth in demand across emerging countries. The electronic products are packed with foam owing to its ability to isolate the material from any degradation effect along with protection from damages, which in turn is driving the product demand.
Packaging Foams Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | US$ 3 Bn |
| Growth Rate | CAGR of 5 % during 2020-2030 |
| Segment Covered | Type, End Use, Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Armacell (Germany), JSP (Japan), Zotefoams Plc. (U.K.), BASF SE (Germany), Sealed Air Corporation (U.S.), Synthos SA (Poland), Rogers Corporation (U.S.), Kaneka Corporation (Japan), Arkema (France), and Foampartner Group (Switzerland) |
Key Segment Of The Packaging Foams Market
Type, (USD Million)
• Cross-linked Polyethylene Foams (XLPE Foams)
• Expanded Polyethylene Foam (EPE Foams)
End-use Industry,(USD Million)
• Packaging
• Automotive
• Building & Construction
• Sports
• Electrical & Electronics
• Others (including Medical and Aerospace)
Regional Overview, (USD Million)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The market value of packaging foams market in 2030 was US$ 3 Bn
Europe dominated the market for packaging foams market and accounted for the largest revenue share.
In recent years, foam packaging has witnessed significant penetration on account of its rising application across multiple sectors including food & beverages, electrical & electronics, medical & pharmaceutical, automotive, aerospace & defense, consumer packaging, and personal care. The automotive segment is one of the sectors which holds significant share across the industry owing to changing lifestyle and positive economic outlook across the developing countries. The sector utilizes foam packaging for the safe & secure transportation of automobile parts and associated equipment across the automotive industry. In addition, food & beverage also holds substantial market share owing to the rising global population along with changing the eating habits of consumers. Furthermore, shifting focus to enhance revenue stream across the various by the industry players through advanced packaging capabilities will proliferate the industry growth.
Increasing application of packaging foams across residential sectors including household items such as glass items, and electronic items along with the industrial sector for packaging electrical, and industrial equipment is augmenting the product demand. Although, rising government focus toward restricting usage of non-biodegradable material is anticipated to hamper the industry growth. However, rising penetration of online shopping will augment the product demand in the coming years.
Type Segment
On the basis of the type segment, the market is categorized into rigid and flexible type. Inner Rotor type, dominates the global packaging foams market in 2018 and is anticipated to dominate the industry for the forecast period 2019-2025 and is anticipated to observe a CAGR of over 5%.
Material Segment
Packaging foams market is segmented into Polyurethane, Polystyrene, Polyvinyl Chloride, and Others. In 2018, the polyurethane is accounted for major contributors in revenue and it is expected to lead the Packaging foams industry thorough the forecast timeline.
-2018-2025-(USD-Million).png "Global Packaging Foams Market by Material (Polyurethane) 2018-2025 (USD Million)")
Application Segment
On the basis of application, the market is bifurcated into Medical & Pharmaceutical, Food & Beverages, Aerospace & Defense, Automotive, Electrical & Electronics, Personal Care, and Consumer Packaging. In 2018, the consumer electronics segment is anticipated to dominate the industry share and the automotive segment is anticipated to attain a high growth rate in the coming years.
The Asia Pacific is anticipated to hold major share across the packaging foams industry. Rising manufacturing establishment of electronic products that extensively utilize packaging foams for packing delicate products has upheld the product demand. Rising middle-class income has led to a shift in consumer habits toward online shopping where purchased products such as musical instruments, technological accessories that require extra care due to their fragile nature. This is achieved through packaging foams as it possesses the capability to withhold damages without impacting the product, which in turn has boosted the product demand. Furthermore, shifting automobile production facilities, primarily electric vehicles across the region owing to cost-competitive labor and positive regulatory norms is expected to stimulate the industry landscape over the forecast timeline.
Major players operating across the packaging foams market comprise of BASF, Armacell, UFP Technologies, Greiner Multi Foam, American Foam Corporation, Foam Packaging Specialties, Foam Partner, Clark Foam Products, Smurfit Kappa, Atlas Roofing, SABIC, and Sealed Air Corporation. These industry players are adopting inorganic growth strategies including mergers & acquisitions, joint ventures along with organic strategies such as regional expansion and product launches to strengthen their market presence.