The packaging foams market is projected to reach USD 17.21 Billion by 2022, at a CAGR of 6.09% from 2017 to 2022. This growth is mainly driven by the increasing demand for packaging foams from food service and protective packaging service type.
Seattle, WA -- (SBWIRE) -- 05/01/2017 -- The report "Packaging Foams Market by Structure Type (Flexible Foam, Rigid Foam), Material Type (Polystyrene Foam, Polyurethane Foam, Polyolefin Foam), Service Type (Food Service, Protective Packaging), and Region - Global Forecast to 2022", The packaging foams market is projected to grow from USD 12.81 Billion in 2017 to USD 17.21 Billion by 2022, at a CAGR of 6.09% from 2017 to 2022.
Browse 112 market data tables and 16 figures spread through 186 Slides and in-depth TOC on "Packaging Foams Market - Global Forecast to 2022"
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The growth of this market is attributed to the increasing technological advancements in packaging and transportation techniques to reduce transportation costs and rising demand for online shopping of relatively smaller items worldwide.
PS is the most dominant material type of packaging foams market.
Packaging foams are made up of material types such as PS, PU, PO, and others including PVDF and PVC. PS is the most versatile type of polymer foam. EPS and XPS are two types of PS based packaging foams. EPS foam is lightweight, composed of individual cells of low-density PS, and has high strength-to-weight ratio because its cells are not interconnected. It is useful in food service and protective packaging end-use services.
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Flexible foam is the fastest-growing structure type segment of the packaging foams market
Flexible foam's anti-static feature makes it the preferred packaging option for electronics parts and medical tools & equipment, and sporting goods. Mostly PE foams are cut according to the shape of the product or customized it in a different structure which, in turn, has contributed to the growth of the flexible foam segment in the packaging foams market.
The packaging foams market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period
Asia-Pacific accounted for the largest share of the packaging foams market, in terms of volume and value, in 2016. The market in this region is projected to grow at the highest CAGR during the forecast period. This growth of the market is mainly attributed to the easy availability of raw materials and increasing foreign investments. In addition, countries such as China, India, Indonesia, and Thailand have witnessed increased online shopping.
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Key players profiled in the packaging foams market report include Armacell (Germany), JSP (Japan), Zotefoams Plc. (U.K.), BASF (Germany), Sealed Air Corporation (U.S.), Synthos SA (Poland), Rogers Corporation (U.S.), Kaneka Corporation (Japan), Arkema (France), Total (France), Recticel (Belgium), and Foampartner Group (Switzerland).
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