The report “PET Foam Market by Raw Material (Virgin PET and Recycled PET), Grade (Low-density and High-density), Application (Wind Energy, Transportation, Marine, Building & Construction, Packaging) and Region – Global Forecast to 2027″, is projected to grow from USD 361 million in 2022 to USD 503 million by 2027, at a CAGR of 6.9% from 2022 to 2027. PET foam can be readily modified based on application requirements and is mainly used in the mid-layers of sandwiched composite structures. The market for PET foam is competitive and mainly dominated by established players. The threat of new entrants in this market is low, as the market is capital-intensive.
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• 176 Market data Tables
• 38 Figures
• 174 Pages and in-depth TOC on “PET Foam Market – Global Forecast to 2027”
Some of the prominent key players are:
· Armacell International SA (Luxembourg)
· 3A Composites (Switzerland)
· Gurit Holding (Switzerland)
· DIAB Group (Sweden)
· Changzhou Tiansheng New Materials Co. Ltd (China)
· Sekisui Plastics (Japan)
Opportunity: Rising trend of using recycled materials
Rising environmental concerns and sustainability are propelling the demand for recyclable materials across industries. PET foams are safer and have lower toxicity than widely used PS foams. Market players, such as 3A Composites (US), and Diab Group (Sweden), are offering PET foams and increasing their efforts to comply with the latest market trends. Thus, the rising trend of using recycled materials worldwide acts as an opportunity for the PET foam market
By application, packaging segment is estimated to be the second fasted-growing segment during the forecast period, in terms of volume
PET foam is used in the packaging industry due to its varied properties such as recyclability, low weight, high compressive strength, flexibility, and temperature & chemical resistance. PET foam is used in the manufacture of food packaging trays & containers and packaging for electronic products. There have been advancements in technology in packaging products such as smart labels and thermochromic labels. The growth of the packaging industry is expected to drive the demand for PET foams.
Europe is the second largest growing region in the PET foam, in terms of volume
Countries such as Germany, France, the UK, Italy, and Spain are considered under Europe for market analysis. Low-density and high-density are the most used PET foams in Europe. They are widely used in wind energy, marine, transportation, construction applications. The PET foam market in Germany is expected to grow mainly due to the rising demand for core materials in the wind energy applications.
