Global Packaging Foams Market 2017-2021

Overview of the global packaging foams market

One of the most commonly used packaging foams is polyurethane foams. Some of the leading manufacturers of polyurethane chemicals include INOAC and Williams Foam. The increasing demand for packaging materials in the e-commerce industry in emerging economies such as Russia, China, India, and others will boost the application of polyurethane foams for packaging applications. Technavio's market research report identifies that the increasing use of polyurethane foam in packaging industry will be one of the primary growth drivers for the global packaging foams market till 2021. PU-cored foams have many advantages that include lightweight construction, superb thermal insulation, and rapid and economical construction technique. The strong adherence ability and exceptional mechanical and insulating properties of polyurethane foams make them ideal for packaging applications.  Technavio's market research analysts predict that this market will grow at a CAGR of more than 6% by 2021.

One of the key trends that will gain traction in the global packaging foams market during the estimated period is the development of environment-friendly foams. The use of environmental friendly rigid foams maintains the ecological balance of the atmosphere in the vicinity by reducing the VOCs (volatile organic compounds). The developing regions such as India, Japan, and Indonesia and developed regions are extensively focusing on the development of energy-saving rigid protective foam due to their environmental friendly nature.

Competitive landscape and key vendors

The packaging foams market is fragmented and characterized by the presence of major vendors. These vendors are taking efforts to manufacture products that comply with the fluctuation of oil prices. Other vendors are trying to compete against major global players by focusing on new technologies and ideas. The introduction of new products and services by new vendors will strengthen the competitive environment of the market. Furthermore, major players are adopting strategic partnerships to expand their geographical presence, widen their production facilities, and possess operational capacities.

Key vendors in this market are -

• Arkema
• BASF
• Borealis
• Sealed Air
• Zetofoams

Other prominent vendors in the market include ACH Foam Technologies, Armacell, INOAC, JSP, Kaneka Corporation, Pregis, Premier Foam, SEKISUI CHEMICAL, Tosoh Corporation, Total, UFP Technologies, and Williams Foam.

Segmentation by structure type and analysis of the packaging foams market

• Flexible
• Rigid

Various end-user applications such as automotive, medical, e-commerce, logistics and others widely use flexible foams for packaging purposes due to their low density. These flexible foams protect lightweight, fragile, and shock-sensitive, and delicate devices from damage. The popularity of flexible foams will continue to increase over rigid foams because they can be molded into any shape and are appropriate for packaging a wide range of items of different shapes and sizes. The segment will continue to grow until the end of 2021 due to their superior packaging properties. Healthcare equipment, footwear, and personal care items are packaged using flexible polyurethane foams.

Segmentation by geography and analysis of the packaging foams market

• APAC
• Europe
• North America
• ROW

The demand for packaging foams is high in APAC due to the availability of inexpensive raw materials and low cost of production. The adoption of packaging foams by various end-users will increase due to the rising demand for premium and better-quality products. Furthermore, the rise in disposable income of individuals and economic stability in growing economies such as India, Philippines, and others will foster the growth of packaging foams market in APAC.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global packaging foams market?
• What are the key market trends impacting the growth of the global packaging foams market?
• What are the challenges to market growth?
• Who are the key vendors in the global packaging foams market?
• What are the market opportunities and threats faced by the vendors in the global packaging foams market?
• What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
• What are the key outcomes of the five forces analysis of the global packaging foams market?

Technavio also offers customization on reports based on specific client requirement.