Over the past few years, the
PET foam market has witnessed a significant growth and is expected to follow a similar trend in the near future. The global
PET foam market is majorly driven by a rising demand from wind energy and packaging industry. Moreover its recyclable property, resistance to chemicals, flexibility, water, corrosion and temperature resistance is making a popular core material across various industries. However, strong competition from other substitutes is a major market restraint, which may hinder market growth over the coming years.
In the report, “
Global PET Foam Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast” added by DecisionDatabases.com the market overview, market size, growth trends and future prospects are elaborately covered. The report incorporates the PET foam market analysis on the basis of grade and application. The report also offers details about the drivers, restraints and the growing opportunities in the industry.
Polyethylene terephthalate, commonly known as PET is one of the widely available thermoplastic polymers and is used as fibers for textiles, containers for food & beverages, as engineering resins and is transformed for manufacturing processes. PET foam comprises of polymerized units of ethylene terephthalate monomer and is recyclable in nature.
The global PET foam market has been segmented based on grade, into low-density and high-density foam. Furthermore, the PET foam market has been segmented on the basis of application into transportation, marine, wind-energy, construction, packaging and building. Wind energy is one of the major application segments, and is expected to grow at a substantial rate over the forecast period owing to increasing demand from wind energy application. Marine and packaging applications are other major segments. Packaging application segment is expected to grow at the fastest pace over the coming years on account of growing consumer demand for PET bottles due to its light-weight recyclable property. Construction application segment is also projected to grow at a considerable rate in the near future due to growing usage of PET foam as a core-sandwich material for construction-related applications. Other application segments are also expected to grow over the coming years owing to a broad range of benefits of PET foam such as its light-weight, high stability & flexibility ratio, high temperature resistant and excellent compressive strength. Overall, the global PET foam market is driven by rising demand for the penetration of various end-use applications.
Geographically, the global PET foam market is segmented into five regions such as North America, Europe, Asia Pacific, Latin America and the Middle East & Africa (MEA). North America is expected to witness significant growth in the near future owing to a rising demand from end-user industries in the region. The Asia Pacific market is one of the fastest growing markets and is anticipated to witness an outstanding growth over the forecast period on account of an increasing demand for low-cost wind energy and other products and rising population coupled with its high purchasing power, especially in China, India, and Brazil. The growth of PET foam in the emerging economies is mainly attributed to the growing demand across various application segments.
The major industry players for PET foam include Armacell International S.A., 3A Composites, Gurit Holding, DIAB Group, BASF SE, Changzhou Tiansheng New Materials Co. Ltd., Sekisui Plastics, Petro Polymer Shargh and Carbon-Core Corp.
In January 2016, Armacell, a leader in flexible insulation foams launched its own production facility in Russia for strengthening and expanding its market position
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