The report predicts the global packaging foam market is expected to grow at a CAGR of 4.8% during the forecast period 2022 to 2031 to reach a value of $22.43 billion by 2031.
Packaging Foam Market – Global Drivers, Restraints, Opportunities, Trends & Forecast up to 2031
Polymers are being used in almost all aspects of our daily life. Few of these polymers are either extruded or expanded to create foamed structures, to be used in various applications. Large volumes of these polymer foams are used in packaging applications in various industries. These foamed materials are so widely used that these can be easily seen in the packaging of fast food chains or as a cushion in refrigerator/washing machine packaging or as protective support in the laptop packaging among many other areas.
Polyurethane is the most used material for packaging foam, although polystyrene foam is most visible to consumers. Globally, polystyrene foam follows the polyurethane foam, which is
expected to extend the lead given resistance faced by polystyrene foam from regulatory bodies across the globe. Among major regulatory challenges the polystyrene market must face are the circular economy package by the European Union and the restaurant food packaging ban in a few states in the US. These challenges are expected to slow the growth of the polystyrene packaging foam market, although the growth in developing countries is expected to remain strong.
The automotive industry, along with food & beverage and electrical & electronics, is expected to remain the key end-user segment for packaging foam. Collectively, these three segments are expected to keep contributing around two-thirds of the global market, even though they share for the food & beverage segment is expected to decline with the segment hardly maintaining demand in Europe and North America.
The study of the packaging foam market provides the market size information and market trends along with the factors and parameters impacting it in both the short- and long-term. The
study also covers the competitive scenario of the market, major players with their branding strategies, and differentiating factors among others. The study ensures a 360 view, bringing out the complete key insights of the competitive industry. These insights are intended to help the business decision-makers to make better business plans and informed decisions for future growth. In addition, the study helps venture capitalists in understanding the companies better and take informed decisions.
According to Infoholic Research, the packaging foam market is expected to grow at a CAGR of 4.8% during the forecast period 2022 to 2031 to reach a value of $22.43 billion by 2031. The flexible packaging foam is expected to remain the more preferred type, while the polyurethane category will continue to lead the material segment within the packaging foam market. The supplier side for the packaging foam products is expected to remain competitive with fragmented competitive coverage and all the companies competing for limited market
opportunities. A few of the prominent players in the packaging foam market are Atlas Roofing Corporation, Armacell, BASF SE, Borealis AG, Dart Containers Corporation, FoamPartner Group, JSP, Kaneka Corporation, Sealed Air, Wisconsin Foam Products, and Zotefoams.
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- Others (such as polyvinyl chloride)
- Food & Beverages
- Electrical & Electronics
- Consumer Durables
- Medical & Personal Care
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
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market trends and drivers, restraints, and opportunities