Global Packaging Foams Market – Industry Analysis and Forecast (2019-2027)

Global Packaging Foams Market was valued US$ 13.19 Bn in 2019 and is expected to reach US$ 19.98 Bn by 2027, at CAGR of 6.37% during forecast period.

Global packaging foams market is motivated by the improved online shopping of products. Technological advancements in packaging and transportation techniques is also growing the use of foams. However, volatility in raw material prices affects the cost structure of the products can restrain the global packaging foams market development.

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Based on the material type segment, The PS material is estimated to hold largest market share during forecast period. PS is the multipurpose type of polymer foam, which is a synthetic aromatic polymer made from the monomer styrene. EPS and XPS are the two types of PS global packaging foams market. EPS acts as a soundproofing, as heat cannot travel through easily. It is used in manufacturing flotation devices, insulation, hamburger boxes, sandwiches, egg cartons, and coffee mugs.

On the basis of structure segment, the flexible segment of the global packaging foams market is estimated to grow at the highest CAGR during forecast period. Business that focus on protecting their products in the distribution process can go for flexible foam for their packaging needs. It is often used for exceptionally sensitive products such as computer parts, electronic parts, fruits, and jewellery.

Companies implemented strategies like investments & expansions, mergers & acquisitions, new product launches, and partnerships, agreements, contracts & joint ventures to increase their market shares and increase their distribution networks, globally. These strategies accounted for a significant share of the total number of growth strategies adopted by players in the global packaging foams market

In terms of region, Asia-Pacific is estimated to grow at the highest CAGR during forecast period. This development is mainly attributed to high economic development, followed by growing e-commerce business in the Asia-Pacific region.

The report offers company market share analysis in order to give a broader overview of the key players in the market. The report also covers key strategic developments of the market including acquisitions & mergers, partnerships, agreements collaborations & joint ventures, Structures, research & development, and regional development of major members involved in the market on a global and regional basis. Furthermore, the study covers price trend analysis, and Structures portfolio of various companies according to the region.

The objective of the report is to present a comprehensive assessment of the market and contains thought full insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the Global Packaging Foams Market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by Structures, price, financial position, Structures portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global packaging foams market.

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Scope of Global Packaging Foams Market:

Global Packaging Foams Market, By Structures

• Flexible Foam

• Rigid Foam

Global Packaging Foams Market, By Material Type

• PS

• PU

• PO

• Others

Global Packaging Foams Market, By Service Type

• Food Service

• Protective Packaging

Global Packaging Foams Market, By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

Key Players Operated in Market Include:

• ACH Foam Technologies

• Arkema

• Armacell LLC

• BASF SE

• Borealis AG

• Foampartner Group

• JSP

• Kaneka Corporation

• Recticel

• Rogers Corporation

• Sealed Air

• Synthos S.A.

• Total

• Zotefoams PLC

• Dongshing Industry, Inc

• Foamcraft Inc.

• Hanwha Corporation

• Synbra Holding bv

• Tosoh Corporation

• UFP Technologies.

MAJOR TOC OF THE REPORT

Chapter One: Packaging Foams Market Overview

Chapter Two: Manufacturers Profiles

Chapter Three: Global Packaging Foams Market Competition, by Players

Chapter Four: Global Packaging Foams Market Size by Regions

Chapter Five: North America Packaging Foams Revenue by Countries

Chapter Six: Europe Packaging Foams Revenue by Countries

Chapter Seven: Asia-Pacific Packaging Foams Revenue by Countries

Chapter Eight: South America Packaging Foams Revenue by Countries

Chapter Nine: Middle East and Africa Revenue Packaging Foams by Countries

Chapter Ten: Global Packaging Foams Market Segment by Type

Chapter Eleven: Global Packaging Foams Market Segment by Application

Chapter Twelve: Global Packaging Foams Market Size Forecast (2019-2027)

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[Dhruv Bindhani]

This report abstract from Maximize Market Research provides a concise overview of the Global Packaging Foams Market, highlighting its growth trajectory, key drivers, challenges, and segmentation.

Market Valuation and Forecast:The report states that the Global Packaging Foams Market was valued at US$ 13.19 Billion in 2019 and is projected to reach US$ 19.98 Billion by 2027, demonstrating a Compound Annual Growth Rate (CAGR) of 6.37% during the forecast period. This indicates a robust and steady growth in the demand for packaging foams.

Market Drivers:

• Improved Online Shopping of Products: The rapid expansion of e-commerce globally is a primary driver. As more goods are bought and sold online, the need for protective packaging to ensure products reach consumers undamaged significantly increases.
• Technological Advancements in Packaging and Transportation Techniques: Innovations in packaging materials and more efficient transportation methods are also contributing to the growing use of foams. This could include lighter, more durable foams, or foams integrated into smart packaging solutions.

Market Restraints:

• Volatility in Raw Material Prices: This is identified as a major constraint. Fluctuations in the cost of raw materials (like crude oil and its derivatives, which are used to produce polymers like polystyrene, polyurethane, and polyolefins) directly impact the manufacturing cost of packaging foams, potentially affecting profitability and market development.

Segmentation Insights:

• By Material Type: Polystyrene (PS) Dominance:
  
  • PS is estimated to hold the largest market share. It's a versatile synthetic aromatic polymer derived from styrene.
  • The two main types of PS foam used in packaging are Expanded Polystyrene (EPS) and Extruded Polystyrene (XPS).
  • EPS is highlighted for its soundproofing capabilities (due to poor heat conductivity) and its use in flotation devices, insulation, and various food packaging items (hamburger boxes, sandwiches, egg cartons, coffee mugs).
• By Structure: Flexible Foams to Lead Growth:
  
  • The flexible foam segment is projected to grow at the highest CAGR.
  • Businesses prioritizing product protection during distribution, especially for "exceptionally sensitive products such as computer parts, electronic parts, fruits, and jewellery," tend to opt for flexible foams. This is due to their excellent cushioning and shock-absorbing properties.

Competitive Landscape and Strategies:Companies are actively pursuing strategies to increase market share and expand distribution networks. These include:

• Investments & Expansions
• Mergers & Acquisitions
• New Product Launches
• Partnerships, Agreements, Contracts & Joint VenturesThe report also indicates it will provide insights into company market share, key strategic developments, price trend analysis, and product portfolios.

Regional Analysis: Asia-Pacific as the Growth Engine:

• Asia-Pacific is estimated to grow at the highest CAGR during the forecast period.
• This growth is primarily attributed to high economic development and the growing e-commerce business in the region, particularly in emerging economies like India and China. The rapid expansion of manufacturing and consumer markets in these countries fuels the demand for protective packaging.

Report Objectives and Scope:The report aims to provide a comprehensive assessment of the market, including:

• Insights, facts, historical data, and projections.
• Understanding market dynamics and structure by identifying and analyzing segments.
• Projecting global market size.
• Competitive analysis of key players (product portfolios, growth strategies, regional presence, financials).
• PEST analysis, PORTER's analysis, and SWOT analysis for strategic decision-making.

Key Players Mentioned:The list of key players includes a mix of major global chemical companies and specialized foam manufacturers, indicating a diverse competitive landscape.

In conclusion, the Global Packaging Foams Market is on a clear growth trajectory, significantly propelled by the boom in e-commerce and advancements in packaging technology. While raw material price volatility poses a challenge, the versatility of materials like PS and the demand for flexible foam solutions, particularly in the rapidly industrializing and digitizing Asia-Pacific region, are strong drivers for its continued expansion.