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Packaging Foams Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
| A06918 | Pages: NA | Feb 2021 | 134 Views | | |
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Packaging foam is an equipment used in various products for packaging purposes. It is made from different materials such as polyolefin, polystyrene, polyurethane, and others. In addition, it is used to shield goods from supply chain atmosphere and to shield them from mechanical disruption. An extraordinarily high percentage of consumer goods are marketed in packets, either due to storage and transport stability requirements or regardless of aesthetic reasons. Increase in production operations and improvement in industrial performance have contributed to the development of the packaging industry, which, in turn, boost the demand for packaging foam products. Owing to increase in safe packaging solutions in the e-commerce market, packaging foams have become a necessity for the packaging industry. This is attributed to the fact that packaging foams ensure product security.
Market scope and structure analysis
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast unit | Value (USD) |
Segments covered | Material, Structure, Application, End User, and Region |
Regions covered | North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia and the Rest of LAMEA) |
Companies covered | BASF SE, Armacell LLC, UFP Technologies, American Foam Corporation, Greiner Multi Foam, Foam Partner, Storopack, Package Design and Manufacturing Inc., Foam Packaging Specialties, and Clark Foam Products Corporation |
Key drivers of global packaging foams market
Rise in demand for efficient packing of the products has accelerated the packaging foams market, owing to safe and protective carriage of the packaged products. In addition, expansion of the e-commerce industry due to the rapid urbanization along with changed lifestyle is expected to fuel the growth of the global packaging foams industry. This is majorly attributed to increase in importance of product safety, as it is not only clothing that is purchased from e-commerce industry but also sensitive and delicate objects, such as laptop and glassware.
Market scenario: opportunities and challenges
Owing to the development of the food & beverage and retail industries, the packaging foam industry is expected to witness notable growth during the forecast period. The demand for packaged food is high in both developed and developing economies. Thus, buyers and foreign firms are seeing it as an opportunity to conquer the packaging industry and develop innovative trends for food packaging industry. In addition, increase in per capita income along with improvement of economy of emerging nations is anticipated to boost the growth of the packaging industry. Owing to the rapid industrialization, goods requires packaging material to ensure safety of materials, which, in turn, is expected to fuel the packaging foam market during the projected timeframe. On the contrary, the existence of similar alternatives and adverse conditions arising from the outbreak of COVID-19 impede the market growth.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global packaging foams market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown. In addition, recent decline in the revenue of the packaging industry is one of the key factors that is likely to negatively impact the growth of packaging foams market. Moreover, companies are dealing with missing sales and disrupted supply chains as production activities are shutdown.
Key segments covered
Segment | Subsegment |
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Key benefits of the report
- This study presents the analytical depiction of the global packaging foams industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global packaging foams market share.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the global packaging foams market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global packaging foams market research report
- Which are the leading market players active in the packaging foams market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
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