According to Custom Market Insights (CMI), The Global Foamed Plastics Insulation Market Size was valued at USD 103.1 billion in 2021 and is estimated to reach USD 125 billion by the end of 2030 at a CAGR of approximately 3.5% during the forecast period 2022-2030.
The foam plastic is an expanded polymer plastic that appears as a sponge-like structure filled with air bubbles. The foamed plastics are made of different polymers and range in different types based on the polymer. These are more diverse than the usual plastics in terms of flexibility, reliability, and convenience. There are two types of foam plastics. The open-cell plastic foams have created the pressure exerted in which the inert gas fills the resin. The blowing agent makes closed-cell foam plastics that disrupt a specific melting point. Foam plastics are used in various industries, including building and construction, food and beverages, automobiles, etc. The foam plastics offer lower water absorption, good mechanical strength, heat conduction, good insulating properties, etc.
Browse the full “Foamed Plastic Insulation Products Market Size, Trends and Insights By Type (Polyurethane Foam, Polystyrene, Polyisocyanurate, Phenolic Foam, Other), By Application (Building & Construction, Industrial, Residential, Other), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/foamed-plastic-insulation-products-market/
Mini Desiccant Bags Market Dynamics
Drivers
The increase in demand for foam plastics as packaging for industrial and non-industrial goods drives market growth.
Foam plastics are innovative materials widely used for packaging and storing products, protecting them from outer disturbances. Such plastics provide shockproof and safe packaging of the product and are widely used for industrial and non-industrial goods.
The rise in manufacturing and construction activities propels the market growth of foam plastics.
The retailers and manufacturers are responsible for product transportation, whether in shops or to the customers.
The manufacturers and retailers must ensure that the product in transit is safe and secure. Such factor drives the market growth for foam plastics.
Restraints
The imposed restrictions on the usage of foam plastics across regions like North America and Europe hamper the market growth. There is a restriction on the use of expanded polystyrene for food packaging from the regulatory authorities, which restricts the market growth. The stringent regulation leading to health and environmental concerns has led to the restriction on using polyurethane foams. The raw materials used for the production, including toluene diisocyanate and methylene biphenyl, are toxic substances that cause environmental hazards; such factors firmly restrain the market growth for foam plastics. As a result, flexible polyurethane is expected to experience a complete ban in the forecast period.
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Regional Snapshots
Based on geography, the Asia-Pacific region has occupied the largest market share in 2021, with a market share of 47%, and is expected to grow significantly during the forecast period. The rise in demand for foam plastic products and e-commerce platforms for safe and secure packaging drives the market growth in APAC. Numerous industries, including food & beverages, transportation, construction & building, automotive, and electronics, utilize foam plastics to keep their products safe. China is the major contributor to the foam plastics market across APAC, which accounts for 58% of the regional market share.
Key Players
Trelleborg
Dow
Avery Dennison Corporation
Owens Corning
3M Company
Dupont
Sika
BASF
Johns Manville
Dunmore
Knauf Insulation
Saint-Gobain
ACH Foam Technologies
American Excelsior
INOAC Corporation
Table of Contents: https://www.custommarketinsights.com/report/foamed-plastic-insulation-products-market/#table-of-contents
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