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
Think of foam as a nice, soft blanket that keeps you warm and quiet. This is because foam is very light and doesn't transfer heat well. A lot of foam is made from oil. It can be firm or bendy, and it can be made of PVC, polystyrene, or polyurethane, among other things. Three out of every four pieces of foam you encounter are produced from polystyrene, polyurethane, or PVC. When solids and gasses mix together, they make foam. A blowing agent is the gas that makes the foam bubble up. There are several ways to make foam. You can pour it into slabs, push it through nozzles, or shape it into different shapes. Foam may be used for a lot of things, like making your couch more comfortable and keeping your house warm. It is also utilized in mattresses, packaging, and a lot of other things.
| 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 |
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| Pitfalls & Challenges |
|
Foam packing is quite popular in the car industry, and it's only going to get more popular. Why? In places like China, India, and Indonesia, people are getting richer and living better. This implies consumers are buying more cars, and foam packaging is needed to properly move car parts from one place to another. Foam packaging is also quite popular in the food and drink business, where it makes up roughly 10% of the market. Foam packaging is becoming even more popular for items like ready-to-eat meals and fast food because more and more people are busy and want to eat on the go.
Foam Packaging Market Trends
Polystyrene foam packaging makes a lot of trash. Because it's so light, it's utilized for items like cups and trays all over the food and drink sector. But here's the problemit doesn't break down on its own, so it might end up as small pieces that are really hard to clean up. This is bad news for animals on land and in the sea since they often think foam bits are food. For a lot of animals, it can be deadly. That's why countries are pushing in to regulate or even ban foam packing. Because of the mess they make in the environment, New York City, for example, has said no to single-use foam products. The foam packing sector will have to shrink as these restrictions become more frequent.
Foam Packaging Market Analysis
In 2018, flexible foam packaging was the biggest product group, making up around 60% of the market. The e-commerce business has been growing quickly for the past few years, which has led to an increase in demand for foam packaging because it is used to package electronics and other durable goods. For example, people all around the world have spent more than $2.9 trillion on online shopping, and this amount is anticipated to grow at a rate of more than 17% each year in the next years. The e-commerce business is growing quickly, which will probably increase the demand for foam packing during the next few years.
Hello! You know those neat automobiles and electronics you see all the time? Well, a lot of them come with this unique kind of packing called polyurethane foam. It's like a bodyguard for your cars and devices. What do they love about it? It's like a shield that is very strong, can bear heat, and is also fireproof. You can relax knowing that your new phone or car is safe while it's being shipped or driven. Asia, especially China, is a great place to make cars. The need for this foam packing will only keep growing because more people there have extra money to spend and firms can make cars for less. And don't forget about the food and drinks we all like! We're eating and drinking more than ever because the world's population is growing and our lives are changing. That means more food needs to be wrapped, and flexible foam packaging is the best way to keep your drinks cool and your snacks fresh.
Hey, you know how well the electronics business has been doing lately? It's all because of modern technology like 4G, face recognition, and fingerprint scanners that are really fast. Additionally, robots are taking over more and more work in the sector, which makes it easier to make electronics. That's making electronics a lot cheaper, especially in places like India, South Africa, Indonesia, and Brazil, where people are always seeking for a good price. And you know what? These individuals all buying devices implies they require packing to keep their things safe. Foam packing is a great way to protect things, and it's likely to be in high demand for the next few years. Oh, and by the way, the body care business is also doing quite well. People are spending more and more money on looking well, thus they require nice packaging for their cosmetic goods. That's another significant boost for the foam packing business.
Asia Pacific was the biggest region for foam packaging sales in 2018, accounting for more than 40% of the market. The area makes a lot of cars, electronics, and electrical goods, which is why. The workers in the area get paid less, there are a lot of raw resources available, and the government helps enterprises. The OICA says that more than 60% of the world's cars are made in Asia Pacific. China makes more cars than any other country, with more than 30% of the market. China is also the country that makes and ships the most electrical and electronic goods. Because so many cars and electrical and electronic devices are built in the area, the need for foam packaging will keep going up. This market is also huge in North America, and it is predicted to increase by more than 3.6% each 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
- Market Analysis By Product
- Rigid
- Flexible
- 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
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Indonesia
- Latin America (LATAM)
- Brazil
- Mexico
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Kuwait
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