The packing foam market is expected to reach a value of US$ 6.6 billion in 2022 and increase at a CAGR of 5.7% from 2022 to 2026.
The electronics industry is predicted to be the biggest consumer of packing foam due to the rising demand for electronic items and the rising use of protective packaging. The growth of online shopping and e-commerce has benefited the market for packing foam in the electronics sector.
The food and beverage industry typically uses foam packing because it helps safeguard delicate commodities like glass bottles and jars during shipping.
The healthcare industry is another key element in the growth of the packing foam market since packaging foam is used to transport and package medical tools, equipment, and gadgets. The rise in older populations and the demand for individualised medicine have further fueled the demand for packing foam in the healthcare industry.
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The rising public awareness of sustainable packaging has also contributed to the development of eco-friendly packaging foam solutions. This has prompted interest in biodegradable and recyclable packaging foam materials, which are expected to gain significant popularity in the future years.
FMI is committed to providing innovative packaging solutions that meet the evolving needs of our customers. With a wide range of packaging foam products, including expanded polystyrene (EPS) foam, polyethylene foam, and polyurethane foam, we offer customized solutions that are designed to protect products during transportation and storage.
Competitive Landscape
- Leading players operating in the packaging foam market are investing vigorously in research activities for the development of bio-based products. Besides this, they are leveraging various growth strategies such as partnerships, acquisitions, collaborations and partnerships to dominate the market. For instance
- In November 2021, Stora Enso expanded its packaging portfolio with the launch of new bio-based foams i.e., Fibrease and Papira. The new products are lighter and fully recyclable. They are ideal for protective and thermal packaging.
- In November 2020, Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, launched new Armacell Solutions Portfolio into North American market.
Key Insights oF The Report
- Key Trends in the Packaging Foam market
- New Advancements in Production Technologies
- New Product Launches, Expansions of Packaging Foam market
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Key Players:
- Armacell
- JSP
- Zotefoams Plc
- BASF SE
- Sealed Air Corporation
- Synthos SA
Regional Analysis:
- China has been at the epicenter of growth since last few decades. The continuous advancement in technology and blooming economy has ushered in a new life into China packaging foam market.
- As per FMI, India is poised to emerge as the second most lucrative market in Asia Pacific through 2026. Expanding food & beverage industry, rising penetration of online shopping platforms such as Flipkart and Amazon, and increasing disposable income are some of the factors driving the packaging foam market in India.
- Rising adaption of foam for flexible packaging is boosting the growth of packaging foam market in the U.S. According to the Flexible Packaging Association (FPA), the flexible packaging industry had US$ 33.6 billion sales in the U.S. during 2019.
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Packaging Foam Market by Category
By Material Type:
- Polystyrene
- Polyurethane (PU)
- Poly Vinyl Chloride (PVC)
- Others
By Product Type:
- Flexible Foam
- Rigid Foam
By End Use:
- Automobile Industry
- Construction Industry
- Food & Beverages Industry
- Consumer Electronics
- Homecare & Personal Care
By Application:
- Inserts
- Corner & Edge Protectors
- Anti-Static ESD Foam
- Liners
- Other
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