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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.
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 -
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.
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.
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.
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Packaging foams are made of materials such as PU, PS, PVC, or PO and are used for the manufacturing of flotation devices, insulation, egg cartons, sandwich and hamburger boxes, and coffee mugs. The upcoming report on the global packaging foams market is an integral part of Technavio's chemicals and aterials industry which consists of numerous reports from similar markets such as plastics, polymers, and elastomers. The upcoming research report on the global packaging foams market explores the market size, market growth potential and emerging geographical regions in-depth to provide valuable decision inputs to the client.
In order to accurately forecast the global growth prospects, our market research experts follow an extensive research approach of both primary and secondary research and carry out an in-depth analysis of factors such as technological advancements, total market size, and market attractiveness. The use of complex research tools such as statistical models, trend forecasting, and forecasts using exponential smoothing also helps the client in understanding the impact of their business decisions on the organization, and thus help them choose optimal alternatives.
Arkema, ACH Foam Technologies, Armacell LLC, BASF SE, Borealis AG, and Foampartner Group are few of the many vendors existing in this market space. The report also provides segment-wise data and insights using multiple segmentation criteria, to give clients specific information pertaining to lucrative market segments. The industry report also provides geographical data by covering regions such as APAC, the Americas, and EMEA. Our analysts believe that the market could see growth due to the growing consumption of nanocomposites for foams.
The upcoming research report on the global packaging foams market also includes market intelligence parameters such as technological advancements, competitive landscape, seasonal buying patterns and opportunities and challenges faced by the industry. Also, it identifies key innovations in this market for raidly growth niche segmets like metals and minerals, specialty chemicals, and glass and ceramics.
Our market research methodology for the global packaging foams market
Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by structure type
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
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