Allied Market Research

2024

Pet Foam Market

PET Foam Market Size, Share, Competitive Landscape and Trend Analysis Report by Raw Material, by Grade and by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

MC : Advanced Materials

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Author's: | Eswara Prasad
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Introduction

PET stands for polyethylene terephthalate. PET foam is made up of PET, which is a polycrystalline polyester formed from the esterification of terephthalic acid (TPA) with ethylene glycol (EG) or from the transesterification of dimethyl terephthalate (DMT) with ethylene glycol (EG). As a thermoplastic polyester resin, PET foam exhibits interesting physical and chemical properties. It is an amorphous glass-like material in its purest form. Crystallinity in PET can be enhanced by heat treatment of polymer melt. PET foam offers features such as thermal stability, good electrical properties, low water absorption, and excellent surface properties. It is used in production of containers for food and liquid, in combination with glass fiber for engineering resins, fibers for clothing, and thermoforming for manufacturing. PET foam is also used as a substrate in thin film solar cells and as a waterproofing barrier in undersea cables.

COVID-19 Impact analysis

  • Automotive industry, which is the major end user of PET foam, has been severely affected due to the nationwide lockdowns. This restricts the growth prospects for the PET form market.
  • Due to the COVID-19 outbreak globally, most of the industry where PET foam is used as component in manufacturing almost came to a standstill. It has the affected the PET form market growth.
  • The lockdown situation has brought about the shutdown of various manufacturing units of PET form which brought about a destruction in sales and also disrupted the supply chain.
  • During the pandemic, the wind energy and marine industry were also adversely affected, which has resulted in less consumption of PET foam in these industries, which in turn has adversely affected the PET form market.

Top Impacting Factors

Increasing building and construction activities across the globe is driving the pet foam market as PET foam is used in the production of window, frame, interior architecture, facades, roofs and domes, doors, gates, bathtubs, and others. In addition, use of PET foam in the automotive industry in the manufacture of exterior body parts, and casing and housing of various parts of automotive has increased. PET is also available in recycled form which possesses the rising demand for PET foam, which in turn provides an opportunity due to the rising environmental concern and sustainability. However, PET foam is facing stiff competition against the other low-cost core material available in the market such as polystyrene. This factor is expected to hinder the growth prospects of the global PET foam market. Moreover, issues related to recyclability and reparability of the foams might hamper the market.

Market Trends

  • Emerging low density PET foam in various end user industry including transportation, packaging, building and construction, and others, due to its light weight and excellent chemical and electrical resistance, which is expected to boost the market growth.
  • Growing application of PET foam in the wind energy where it is used in wind blades owing to its advanced properties such as stiffness, and strength-to-weight ratio is expected to increase the market size.
  • Armacell in 2019 launched the new Greenfield manufacturing facility in Bahrain, which increased the production capacity in order to fulfill the outstanding demand in the market.
  • Recycling and waste management’s system are constantly evolving as developing trends with new innovative technologies in the market, recycling of PET form to reduce polyester waste and reuse in textile product.

Key Benefits of the Report

  • This study presents the analytical depiction of the pet foam market 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 pet foam market share.
  • The current market is quantitatively analyzed to highlight the pet foam market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed pet foam market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the pet foam market Report

  • Who are the leading market players active in the pet foam market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
  • Which Government regulations might challenge the status of key regional markets?
  • What are the key barriers to enter for the new players in the market?
  • What value proposition should businesses aim at while making new research and development funding?

PET Foam Market Report Highlights

Aspects Details
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By Raw Material
  • Virgin PET
  • Recycled PET
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By Grade
  • Low-density
  • High-density
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By Application
  • Wind Energy
  • Transportation
  • Marine, Building & Construction
  • Packaging
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
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Key Market Players

Armacell International SA, Gurit Holding, BASF SE, 3A Composites, Changzhou Tiansheng New Materials Co. Ltd., Petro Polymer Shargh, Carbon-Core Corp., Sekisui Plastics, DIAB Group

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PET Foam Market

Global Opportunity Analysis and Industry Forecast, 2023-2032