Global Foamed Plastics Market to Ride the High Wave amidst Surging need for Sustainable Packaging Solutions, Future Market Insights

DUBAI, U.A.E, Aug. 13, 2020 /PRNewswire/ -- 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.

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.

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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

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

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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.

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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

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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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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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