Foamed Plastics Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Foamed Plastics Market grew at a CAGR of 3.7% between 2017-2021 and is estimated to be US$ 57,884.3Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.1% and is expected to reach a valuation of US$ 86,510.4Mn by 2032 end.
Foam plastics, also known as plastic foams, cellular foams, expandable foams, structural foams, blown foams, sponges, and microcellular foams, are materials having expanded cell structures. They can be flexible, supple, or unyielding.
The typical procedure entails introducing a dispersed gas, followed by cooling or curing. Most plastics can be turned into foams using foaming techniques. Film or sheet is used to make various unique items molded into desired forms.
GROWING SUSTAINABILITY CONCERNS DRIVE THE DEMAND FOR FOAMED PLASTIC
A significant amount of the treatment process cost is related to the cost of sorting foamed plastic trash. Foamed plastic recycling and reuse have gained popularity as a solution to this problem and have opened up a profitable market for foamed plastics producers.
It cannot be easy to group similar materials and sort them according to their material container codes when recycling foamed plastics. This lowers the price of recycling while also resulting in effective recycling. Recycling professionals compress foamed plastic into a small, manageable size. Additionally, foamed plastic can be broken down and reused using solutions like limonene.
STRICT REGULATIONS ON THE USE OF FLEXIBLE POLYURETHANE FOAM
Significant barriers to the growth of the foam plastics market include the implementation of strict environmental regulations and the risk to human health posed by the use of toluene diisocyanate (TDI) and methylene diphenyl diisocyanate (MDI) as raw materials in the production of polyurethane foams.
The Toxic Substances and Disease Registry Agency states that the frequency and duration of exposure determine the impact of TDI and MDI on a consumer’s health. Some individuals exposed to TDI and MDI have manifested asthmatic symptoms, including wheezing and shortness of breath. These health issues are expected to prevent the foam plastics market from growing throughout the forecasted period.
THE MANUFACTURE OF BIO-BASED POLYOLS
Polyols must be used in the creation of polyurethane foam. In response to growing worries about the industry’s dependency on fossil fuels and the harmful effects that plastics have on the environment, the polyurethane foam industry has been on an ongoing journey to become more sustainable.
Additionally, market participants have a fantastic chance to produce bio-based polyols that may be used to make polyurethane foams and other products. Polyols are an efficient choice that is also sustainable. They are top-notch raw materials that can create a wide range of finished products and applications, including rigid foam, foam plastics, coatings, adhesives, sealants, and elastomers.
Market Segments Covered in Report
By Product Type:
By Distribution Channel:
By Region and Country:
Which product type is increasing in its demand in the anticipated period?
In the building and construction sector, foamed polymers are widely used. They are an appealing option for the building industry because of their strength, cost-effectiveness, longevity, and high flexibility and versatility. They also require little maintenance. Seals, window and door profiles, pipelines, floor covering, and insulation are all applications for foamed plastics.
The building and construction sector is likely to expand in the years to come because of increased public and private investment. Construction of social infrastructures, such as healthcare, education, and infrastructure, as well as other consumer end-markets, has a chance to increase as the economy shifts to one that is consumer and services-driven.
The market for foamed plastics is projected to be significantly impacted by growth in the building and construction sector because it is the key end-user of foamed plastics. The Building & Construction industry will likely generate gains for the foamed plastic market during the forecasted period.
Why is the Polyurethane (PU) Foam segment increasing its demand in the foreseen period?
The segment for polyurethane resin is anticipated to have the greatest CAGR. Low density, low water absorption, relatively strong mechanical strength, and effective insulating qualities are all characteristics of polyurethane. There are much different rigidity, hardness, and density levels of foams made from PU resin.
Upholstery, bedding, automotive and truck seating and cutting-edge inorganic plant substrates for roof or wall gardens use low-density flexible foams. RTM cores and thermal insulation both use low-density foams.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Given a large number of predicted regional and regulated competitors, the market for foamed plastics appears to be highly fragmented. As a result, it is projected that this market will be extremely competitive.
All major businesses concentrate on giving customers customized solutions that meet their needs. Additionally, the producers strongly emphasize expanding their global market reach, diversifying their product lines, and increasing the volume of foamed plastics they produce.
The recent developments in the Global Foamed Plastics Market:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Material, Distribution Channel, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 4.1%.
Growing sustainability concerns drive the demand for foamed plastic.
Major global Foamed Plastics Market players are Berry Global Inc., Dart Container Corporation, Sealed Air Corporation, Pactiv LLC, Tekni-Plex, Inc., Groupe Guillin SA, D & W Fine Pack LLC, Genpak, LLC, UFP Technologies, Inc., Sirap Gema S.p.a
Strict regulations on the use of flexible polyurethane foam.
Asia Pacific Region is expected to account for the largest market revenue share in the Global Foamed Plastics market.
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