Plastic Foams Market by Type, End-user, and Geography - Forecast and Analysis 2020-2024

The plastic foams market size has the potential to grow by USD 33.17 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by type (polyurethane foam, polystyrene foam, and others), end-user (building and construction, packaging, automotive, furniture and bedding, and others), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BASF SE, Borealis AG, Covestro AG, Huntsman International LLC, Kaneka Corp., Recticel NV, Sealed Air Corp., The Dow Chemical Co., Total SA, and Trelleborg AB.

Market Overview

Market Competitive Analysis

The market is fragmented. Recticel NV, Sealed Air Corp., The Dow Chemical Co., Total SA, and Trelleborg AB are some of the major market participants. Although the growth of the e-commerce industry will offer immense growth opportunities, the growing use of flexible protective packaging will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this plastic foams market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this plastic foams market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• BASF SE
• Borealis AG
• Covestro AG
• Huntsman International LLC
• Kaneka Corp.
• Recticel NV
• Sealed Air Corp.
• The Dow Chemical Co.
• Total SA
• Trelleborg AB

Plastic Foams Market: Segmentation by Region

APAC had the largest plastic foams market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing e-commerce market and growth of the automotive and construction industries will significantly influence plastic foams market growth in this region.

47% of the market’s growth will originate from APAC during the forecast period. China is one of the critical markets for plastic foams in APAC. Market growth in this region will be slower than the growth of the market in MEA.

Plastic Foams Market: Segmentation by Type

Polyurethanes are formed by reacting a polyol with a diisocyanate or a polymeric isocyanate. As a variety of diisocyanates are available, and a wide range of polyols can be used to produce polyurethane, an extensive range of materials can be produced to meet the needs of specific applications. The significant increase in the sales of polyurethane foams is another major factor that is expected to drive the growth of the segment during the forecast period

Market growth in this segment will be slower than the growth of the market in the polystyrene foam segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the plastic foams market size.

Plastic Foams Market: Key Drivers and Trends

The e-commerce industry across the globe is one of the critical factors that will drive the growth of the plastic foams market during the forecast period. The rising urbanization and growing disposable income of consumers directly impact the retail sector, which is experiencing an expansion of well-organized retail spaces, especially e-commerce. The e-commerce industry is growing at a rapid pace in most regions because of the growing penetration of the Internet and mobile devices. The growth of the e-commerce market has led to an increased need for protective packagings, such as foams, to safely deliver goods to consumers.

The rising popularity of ceramic foams, one of the vital plastic foams market trends, will also fuel the market growth during 2020-2024. Ceramic foams are inorganic and non-metallic materials made of oxide and non-oxide ceramic materials. Usually, these are formed by immersing open-cell polymer foams in ceramic slurries and subsequent firing in kilns. These foams are porous materials and can be of open, closed, or be of partially opened porosity. Numerous ceramic materials such as silica oxide, silicon carbide, aluminum oxide, graphite-based ceramic foams, magnesium oxide, and other alloys can be used to manufacture ceramic foams based on the properties required for specific applications.

Plastic Foams Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive plastic foams market growth during the next five years
• Precise estimation of the plastic foams market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the plastic foams market industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of plastic foams market vendors