Global PET Foam Market Size, Trends & Growth Opportunity, By Type (Low-density PET foam and High-density PET foam), By Application (Wind Energy, Transportation, Marine, Packaging, Building and Construction),By Region and Forecast till 2027

Global PET Foam Market Size, Trends & Growth Opportunity, By Type (Low-density PET foam and High-density PET foam), By Application (Wind Energy, Transportation, Marine, Packaging, Building and Construction),By Region and Forecast till 2027>

PET Foam Market

PET foam market is expected to grow from USD 215.53 million in 2021 to USD 335.96 million by 2027, at a Compound Annual Growth Rate (CAGR) of 6.09%.

A type of foam core and the newest structural core materials in the composite industry is called as PET foam. Polyethylene terephthalate (PET) is a thermoplastic polymer resin of the polyester family, used in the manufacturing of PET foam. PET foam is unique core material as it is lightweight, 100% recyclable and sustainable, thermoformable, high temperature resistant, and has good Flame, Smoke & Toxicity (FST) properties. PET foam is used in various end-use industries such as wind energy, transportation, marine, packaging, building and construction, and other applications

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Market Drivers:

The market for PET foam has substantially grown in past few years, because of the growing demand from end-use industries, as a potential substitute for PVC, Balsa, SAN and other core materials. Due to its high sustainability and high mechanical properties, PET foam is steadily replacing traditional core materials such as PVC, Balsa, SAN and others.

Moreover, key market driving factors are high demand from wind energy industry, and growing adoption of recyclable and sustainable core materials.

Similarly, rising adoption in various end-use industries like packaging, building and construction would offer more opportunities in this market.

CHALLENGES:

The availability of substitute products like PVC, Balsa and other core materials, is of great challenge, Even though PET foam is in high demand in the composite industry.

Key Market Players:

The leading players of the global PET Foam market include Armacell International, DIAB Group, Gurit Holding, 3A Composites, Sekisui Plastics. Co. Ltd, Carbon Core Corporation, and Others

Regional Analysis

Asia-Pacific region is anticipated to lead the market owing to fast-growing middle-class population, particularly in developing economies such as China and India, and ASEAN countries. Also, need for housing is clearly increasing at a rapid pace.

Europe likely to register substantial growth during the forecast period due to the huge funding for the development of wind energy and the speedy expansion of the automotive industry in the region.

Industry development

In January 2017, Armacell International S.A. acquired the insulation business of Nomaco. This acquisition helped Armacell International S.A. expand its polyurethane insulation foam product portfolio, and increase its customer service levels across North America.

In February 2019, 3A Composites, one of the leading players in the industry, launched the reformulated AIREX T92, structural foam that uses PET bottles as raw material, making it a sustainable product.

Market Taxonomy

By Type

• Low-Density PET Foam
• High-Density PET Foam

• Wind Energy
• Transportation
• Marine
• Packaging
• Building
• Construction

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

• What are the Key Opportunities in Global PET Foam Market?
• What will be the growth rate from 2022 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?