The global packaging foams market size is anticipated to surpass USD 20 billion by 2025. Packaging foams is a material which is used for several applications owing to is excellent insulating capacities, cushioning, mattress & associated fillings, and packaging. It is obtained from different material including polyurethane, polystyrene, and polyolefin. The surge in industrial output and manufacturing activities has led to an escalation in demand for the packaging foam. The rising globalization along with the growing population have led to a rise in demand for consumer products, which is stimulating the industry outlook.
Increasing demand for effective packing of the products owing to safe and protective transportation of the packaged products has escalated the product penetration. Stable value chain across the manufacturing industries along with efficient logistics services has become the primary concern across the industry. Increasing advancement across the electrical, electronic, pharmaceutical industry which utilizes delicate product requires extensive care of the products. The transportation of these products requires safety and precautionary measures, which is achieved through foams packaging. The positive outlook across these industries, in turn, will boost the product demand in the coming years.
The report also throws light on various aspects of the global packaging foams industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the Packaging foams industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The global packaging foams market holds a strong competition among the well-established and new emerging players. These market players targets to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The packaging foams market is segmented into polyurethane, polystyrene, polyvinyl chloride, and others. In 2018, the polyurethane segment is anticipated to dominate the industry share and the adhesives & sealants are anticipated to attain a high growth rate over the forecast timeframe. Furthermore, the polyvinyl chloride segment is expected to witness an impressive growth rate over the forecast period 2019-2025.
The Europe region is expected to experience growth with around 6% CAGR over the forecast timeline. Steady growth across food & beverages and e-commerce industry in the region is expected to foster the product demand. Furthermore, rising advancement across the aerospace and defense sector is further driving the product demand. The region is witnessing significant investment across advanced technology that extensively uses electronic products and in turn packaging foams will further proliferate the business outlook.
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.
Segment overview of packaging foams market
- Type Overview, 2018-2025, (USD Million and kilotons)
- Flexible packaging foams
- Rigid packaging foams
- Material Overview, 2018-2025, (USD Million and kilotons)
- Polyvinyl Chloride
- Application Overview, 2018-2025, (USD Million and kilotons)
- Medical & Pharmaceutical
- Food & Beverages
- Aerospace & Defense
- Electrical & Electronics
- Personal Care
- Consumer Packaging
- Regional Overview, 2018-2025, (USD Million and kilotons)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest South America
- North America