The Global Packaging Foams Market accounted for USD 12.10 billion in 2016 and is projected to grow at a CAGR of 6.1% during the forecast period of 2017 to 2024.
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The Global Packaging Foams Market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Global Packaging Foams Market By Type (Flexible Foam, Rigid Foam) By Material Type (Polystyrene Foam, Polyurethane Foam, Polyolefin Foam) By Service Type (Food Service, Protective Packaging) – Industry Trends and Forecast to 2024
TOP Competitors of Market:
- ACH Foam Technologies, Inc.,
- Armacell LLC,
- BASF SE,
- Borealis AG,
- Foampartner Group,
- Kaneka Corporation,
- Rogers Corporation,
- Sealed Air,
- Synthos S.A.,
- Total S.A.,
- Zotefoams PLC,
- Dongshing Industry, Inc,
- Foamcraft Inc.,
- Hanwha Corporation,
- Synbra Holding bv,
- Tosoh Corporation,
- UFP Technologies
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The Global Packaging Foams Market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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Major Market Drivers:
- Increase in the use of polyurethane foams in packaging industry
- Growing e-commerce industry
- Price fluctuation of raw material
The packaging foams market is segmented on the basis of type into flexible foam and rigid foam.
On the basis of material type:- Polystyrene foam, polyurethane foam and polyolefin foam.
On the basis of service type:- Food service and protective packaging.
On the basis of geography:- North America, South America, Europe, Asia-Pacific and Middle East & Africa.
Packaging foams are the materials which are used for the packaging purpose of different products. The different types of foams that are used for packaging are polystyrene foam, polyurethane foam and polyolefin foam.
There is a growing demand for packaging foams in food service and protective packaging sectors, which is expected to be one of the major drivers of the market over the next seven years.
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