Packaging Foam Market

Packaging Foam Market

Growth Factors of Packaging Foam Market

The packaging foam market size was valued at USD 14.24 billion in 2023, and the market is now projected to grow from USD 15.12 billion in 2024 to USD 25.01 billion by 2032, exhibiting a CAGR of 6.50% during the forecast period of 2024-2032.

During the pandemic, the packaging foam market growth deteriorated negatively because trading activities were banned temporarily. Major pertinent application areas for packing foams are building and construction and automotive. The consumption of foods, beverages, and electronic and electrical goods was declining.

Many items and technologies are being launched in the consumer electronics product category therefore, this sector is evolving rapidly. This has led to a rise in the need for Expanded Polystyrene (EPS) material that is used in packaging of the small electronic devices. The reason that EPS is most appropriate to do that is that it helps to protect the frail and delicate electronic parts which are transported by acting as a shock-absorbing material. There is a high demand for such products as laptops, cellphones, and assorted accessories; thus a high demand equally exists for the EPS packaging material due to its ability to protect the things that are being transported. Overall, all these factors influenced the packaging foam market share globally.

The primary advantage of this packaging is that along with the outside corrugated cardboard box it is used in, it can itself be recycled in curbside bins. The consumer is most favorably affected by the returnability of wood foam, which frees up the utilization of other difficult recyclable materials.

Comprehensive Analysis of Packaging Foam Market

The market for packaging foam is distinguished by the variety of materials it uses, such as polystyrene, polyurethane, polyolefin, and other specialty compounds. To meet different needs for protection and cushioning, it offers foam types that are both hard and flexible. The market provides products to a wide number of end-use industries, including food and beverage, building & construction, automotive, electrical & electronics, and military & defense. These businesses all have different needs when it comes to foam qualities. The packaging foam business can meet a broad range of applications thanks to this segmentation, guaranteeing efficient protection and insulation catered to the particular needs of various sectors.

Driven by the growing call for for consumer electronics, Asia Pacific is the dominant and fastest-growing area in this industry with a value of USD 5.87 billion in 2023. Throughout the projected length, the location's growth is expected to be supported by the increasing call for digital products in the region and the existence of the most important producer and exporter of digital products.

The top players in the market play a crucial role in the packaging sector assuring industrial prospectus growth and setting market standards.Those groups enlist Sealed Air (U.S.),Smurfit Kappa (Ireland), UFP Technologies, Inc. (U.S.), Sonoco Products Company (U.S.),BASF SE (Germany),JSP (Japan),Zotefoams plc (U.K.), Rogers Foam Corporation (U.S.), The, Supreme Industries Ltd (India), Atlas Molded Products (U.S.),NEFAB GROUP (Sweden),American Foam Corporation (U.S.),CARPENTER (Germany), Synthos (Poland), and KANEKA CORPORATION (Japan).

Seawise Innovative Packaging delivered Styrofoam in March 2024 as an alternative to the extensively used EPS foam in packaging. The new packaging is meant to provide agencies aiming to scale back on plastic usage in their supply chain with a less costly option.

Segmentation Table

Global Packaging Foam Market Scope

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 6.50% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Material , Type, End-Use Industry and Region

By Material - Polystyrene

- Polyurethane

- Polyolefin

- Others

By Type - Flexible

- Rigid

By End-Use Industry

- Automotive

- Electrical & Electronics

- Building & Construction

- Medical

- Food & Beverage

- Military & Defense

- Others

By Region - North America (By Material, Type, End-use Industry, and Country)

• U.S. (By Material)
• Canada (By Material)

- Europe (By Material, Type, End-use Industry, and Country)

• Germany (By Material)
• UK (By Material)
• France (By Material)
• Italy (By Material)
• Spain (By Material)
• Russia (By Material)
• Poland (By Material)
• Romania (By Material)
• Rest of Europe (By Material)

- Asia Pacific (By Material, Type, End-use Industry, and Country)

• China (By Material)
• India (By Material)
• Japan (By Material)
• Australia (By Material)
• Southeast Asia (By Material)
• Rest of Asia Pacific (By Material)

- Latin America (By Material, Type, End-use Industry, and Country)

• Brazil (By Material)
• Mexico (By Material)
• Argentina (By Material)
• Rest of Latin America (By Material)

- Middle East & Africa (By Material, Type, End-use Industry, and Country)

• Saudi Arabia (By Material)
• UAE (By Material)
• Oman (By Material)
• South Africa (By Material)
• Rest of the Middle East & Africa (By Material)o


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