Foam Packaging Market Size
Foam Packaging Market size in 2018 stood at USD 11.6 billion and will grow with a CAGR 4.2% during the forecast period
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Imagine foam as a cozy blanket that keeps you warm and shields you from noise. This is because foam is super lightweight and doesn't conduct heat well. Most foam is made from oil products. It can be stiff or bendy, and it's crafted from a variety of materials like polyurethane, polystyrene, and PVC. Three-fourths of all foam you see is made from polystyrene, polyurethane, or PVC. Foam is created when solids and gases are blended together. The gas that puffs up the foam is called a blowing agent. Foam is made in various waysit can be poured into slabs, extruded through nozzles, or molded into different shapes. Foam has a wide range of uses, from making your sofa comfy to keeping your home toasty. It's also used in packaging, mattresses, and countless other applications.
Foam Packaging Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2018 |
| Foam Packaging Market Size in 2018 |
11.6 Billion (USD) |
| Forecast Period |
2019 to 2026 |
| Forecast Period 2019 to 2026 CAGR |
4.2% |
| 2026 Value Projection |
15.7 Billion (USD) |
| Historical Data for |
2015 to 2017 |
| No. of Pages |
220 |
| Tables, Charts & Figures |
270 |
| Segments covered |
Material, Product, Industry |
| Growth Drivers |
- Rapidly growing electrical & electronics industry across the globe
- Increasing defense expenditure by major countries
- Rising e-commerce industry
- Increasing automotive production inn China
- Asian healthcare industry growth
|
| Pitfalls & Challenges |
- Environmental hazardous nature of the product
- Increasing regulations on product usage
- Availability of the substitute
|
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Foam packaging is huge in the automotive industry, and it's only getting bigger. Why? People are getting richer and living better, especially in places like China, India, and Indonesia. This means they're buying more cars, and car parts need foam packaging to get them safely from one place to another. Foam packaging is also big in the food and drink industry, making up about 10% of the market. As more and more people get busy and want to eat on the go, foam packaging is becoming even more popular for things like ready-to-eat meals and fast food.
Foam Packaging Market Trends
Foam packaging, made of polystyrene, is a huge contributor to waste. It's everywhere in the food and drink industry, used for things like cups and trays because it's so light. But here's the problemit doesn't break down naturally and can end up as tiny bits that are almost impossible to clean up. This is bad news for both land and sea animals, who often mistake foam pieces for food. It can be deadly for many creatures. That's why governments are stepping in to limit or even ban foam packaging. New York City, for example, has said no to single-use foam products because of the environmental mess they create. As these laws become more common, the foam packaging industry is bound to shrink.
Foam Packaging Market Analysis
Flexible foam packaging was largest product segment and accounted for close to 60% market share in 2018. Rapidly growing e-commerce industry is fueling foam packaging demand from past several years as it used for packaging of electronics and other consumer durables. For instance, worldwide consumers have spent over USD 2.9 trillion on online sales and this spending is likely to grow with a CAGR over 17% in coming years. This high growth in the e-commerce market is likely to boost the foam packaging demand over the forecast period.
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Hey there! You know those cool electronics and cars you see around? Well, a lot of them come with this special stuff called Polyurethane foam packaging. It's like the bodyguard for your gadgets and vehicles. Why do they love it so much? Well, it's like a super-strong, fire-resistant shield that can handle the heat too. So, when you're shipping your new phone or driving your shiny new ride, you can rest easy knowing it's well-protected. Asia, especially countries like China, is a hotbed for car making. As more people there have some extra cash to spend and factories can pump out cars at a low cost, the demand for this foam packaging is only going to keep soaring. And don't forget about the food and drinks we all love! As the world's population grows and our lifestyles change, we're eating and drinking more than ever. That means more food needs to be packaged, and flexible foam packaging is the perfect fit for keeping your snacks fresh and your drinks cold.
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Hey, you know how the electronics industry has been doing great these past few years? It's all thanks to cool new tech like face recognition, fingerprint readers, and super-fast 4G. Plus, robots are taking over more and more jobs in the industry, making it cheaper to build electronics. That's making gadgets way more affordable, especially in countries like India, South Africa, Indonesia, and Brazil, where people are always looking for a good deal. And guess what? All these people buying electronics means they need packaging to keep their stuff safe. That's where foam packaging comes in, and it's expected to be in high demand for the next few years. Oh, and speaking of foam packaging, the body care industry is also booming. People are spending more and more money on looking good, so they need fancy packaging for their beauty products. That's another big boost for the foam packaging industry.
In 2018, the biggest region buying foam packaging was Asia Pacific, with over 40% of the market. This is because the area makes a lot of cars, electrical goods, and electronics. This is because the workers in the region are paid less, there are plenty of raw materials available, and the government supports businesses. According to the OICA, Asia Pacific makes over 60% of the world's cars. China is the world's biggest carmaker, with over 30% of the market share. China is also where electrical and electronic goods are made the most and exported the most. The demand for foam packaging will continue to rise in the region because so many cars and electrical and electronic devices are made there. North America is another big region for this market, and it is expected to grow by over 3.6% every year for the next few years.
Foam Packaging Market Share
Major multinational companies operating in the foam packaging market share are focusing on innovation and new product development to gain more customers or to retain existing ones. For instance, in June 2016, BASF extended its product portfolio with introduction of ecovio EA. It is biobased and more suitable for transport packaging. Introduction of ecovio EA will help BASF to increase its product portfolio and customer base. Apart from BASF other major companies operating in the market includes
- SABIC
- Armacell
- UFP Technologies
- Greiner
- Foam Partner
- Smurfit Kappa
Foam packaging industry research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons revenue in USD billion from 2015 to 2026, for the following segments
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- Market Analysis By Product
- Market Analysis By Material
- Polystyrene
- Polyurethane
- Polyvinyl Chloride
- Other
- By Industry
- Food & Beverages
- Medical & Pharmaceutical
- Aerospace & Defense
- Electrical & Electronics
- Automotive
- Consumer Packaging
- Personal Care
- Others
- Regional Insights
- North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Indonesia
- Latin America (LATAM)
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Kuwait
