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Future Market Insights' recent study infers that the foamed plastics market is projected to be valued at over US$ 85 Bn by 2030.
Foamed plastics have gained significant ground, utilized to transport fragile and sensitive goods across the world. They are renowned for their high safety and shock –absorbing abilities. Moreover, they are highly reusable, thus making them an ideal choice amongst packaging and logistical companies. Also, foamed plastics are highly biodegradable.
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As the volume of international trade increases, demand for foamed plastics has been keeping pace. Growing penetration of e-commerce platforms to conduct business has resulted in an uptick in the usage of foamed plastic packaging solutions, as consumers purchase goods from overseas which require to be transported safely.
"Rising adoption of sustainable packaging solutions by key end-use industries is increasing uptake of foamed plastic material, enabling them to concentrate more on increasing output and maximizing profit margins by reducing overheads," says the FMI analyst.
Key Takeaways from FMI's Foamed Plastics Market Study
Foamed plastics market shall expand at a CAGR of 6% throughout the 2020-2030 forecast period
Construction to find extensive foamed plastics usage, applied in sealing windows and door profiles, floor covering and pipes
Expandable polystyrene (EPS) is the most preferred foamed plastics material used in automotive manufacturing
Booming e-commerce provides massive traction to foamed plastics adoption
Foamed Plastics- Key Trends
Rising plastic pollution is stimulating increased foamed plastics usage
The ability to thermal recycle foamed plastics makes them a favorite amongst packaging companies
Surging volume of international trade is prompting foamed plastics manufacturers to expand their distribution networks across continents
Electronics manufacturers shall make massive usage of foamed plastics due to their anti-static properties
COVID-19 to restraint growth across the construction and manufacturing industries due to limited output
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Foamed Plastics- Region-wise Analysis
Asia-Pacific shall pivot market growth, capturing nearly half of the revenue pie
The United States, China and India will be most extensive of foamed plastics, attributed to a booming construction industry
Presence of a plethora of players makes the North American, Europe and Asian markets highly competitive
Latin America is a relatively less competitive market due to limited penetration
Foamed Plastics Market- Competitive Landscape
The global foamed plastics market consists of several vendors, some of which are as follows: UFP Technologies Inc., Sirap Gema S.p.A., Groupe Guillin SA, Pactiv LLC, Sealed Air Corportion, Berry Global Inc., Anchor Packaging LLC, Genpak LLC, D&W Fine Pack LLC, Tekni-Plex, Inc. and Dart Container Corporation.
The aforementioned players are concentrating on diversifying their product portfolio. Moreover, they are concentrating on broad basing their customer base by virtue of acquisitions. For instance, in 2019, RPC Group Plc was acquired by Berry Global, Inc. expanding the former's foothold in the foamed plastics market.
In 2020, Anchor Packaging acquired Panoramic Inc., a prominent manufacturer of thermoformed products used in fresh food applications, including bakery, confectionery and produce. More recently, the company has released its catalogue of brand new products.
Foamed Plastics Market Taxonomy
Product Type
Packaging
Food Packaging
Trays
Clamshells
Plates
Bowls
Cups
Transport Packaging
Wrapping
Cushioning
Insulation
Construction
Others
Material
Polyurethane (PU) Foams
Expanded Polystyrene (EPS) Foams
Vinyl (Plastisol, PVC) Foams
Others (PE Foam, PP Foam)
Sales Channel
Direct Sales
Indirect Sales
Supermarkets/Hypermarkets
Convenience Stores
Online Retailing
Region/Country
North America
U.S
Canada
Latin America
Brazil
Mexico
Argentina
Rest of Latin America
Europe
EU-5
Rest of Europe
Asia-Pacific
China
India
Japan
ASEAN
Australia
New Zealand
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Turkey
Northern Africa
Rest of MEA
More Insights on the Foamed Plastics Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global foamed plastics market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2028. The study reveals growth projections through three prominent segments across five regions. By perusing this report, stakeholders can glean valuable insights which can be incorporated to formulate future business expansion and consolidation strategies.
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Contact Info:
Name: Abhishek Budholiya
Email: Send Email
Organization: Future Market Insights
Website: https://www.futuremarketinsights.com/reports/foamed-plastics-market
Release ID: 89016736
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