The market for polyethylene terephthalate (PET) foam is expected to register a significant growth during the forecast period, 2018 to 2023. The demand for light weight and energy- efficient vehicles is increasing with the government support and strict environmental regulations in regions like Europe, North America, etc. This, in turn is increasing the implementation of PET Foams in the automotive industry and thus driving the market.
Growing Demand of Lightweight Material from Automotive Industry
Due to the increasing consumer demand for fuel-efficient and lightweight vehicles, the demand for light weight plastics and composite materials have been increasing during the recent years. PET foam offers various benefits such as good thermal stability, very low water absorption, good electrical properties and excellent surface properties. PET foams are used in the manufacturing of exterior body parts and casing and housing of various automotive parts such as wipers arms and their gear housings, engine cover, interior trim, connector housings, headlamp retainer and many more. Substituting heavier materials with foam leads to an overall weight reduction of around 10% that results in a 3% to 7% improvement in fuel efficiency.
Packaging Segment to Contribute Significant Demand to the Market
Crystalline polyethylene terephthalate (CPET) can retain its shape at temperature excess of 200 degree Celsius without losing flexural stiffness. For these reasons they are used for manufacturing of bakery containers. The packaging industry is now primarily focused on four basic requirements, namely Reduce, Reuse, Recycle and Renewable. At the same time, the manufacturers of the various food items also emphasize on visual appeal and convenience for marketing purpose. Over the last decade, profound changes in governmental policies, corporate standards, trade regulations and consumer preferences have led to a paradigm shift towards bio-degradable and recyclable products in the food packaging market.
Asia-Pacific dominating the PET foam Market
Asia-Pacific was the largest market for PET foam in 2017. China is expected to witness a robust growth in the demand for PET foam during the forecast period due to the anticipated growth in the construction activities, increasing public spending in transportation infrastructure, increasing furniture production and exports, and growth in other industries. Also, the automotive production in China is expected to increase during the forecast period due to increasing demand for SUVs, lightweight and fuel efficient vehicles, and popularity of electric vehicles.
Major Players: 3M Company, BASF SE, Huntsman Corporation, Sekisui Plastics Co., Ltd., Carbon-Core Corporation, and Armacell International S.A, among others.
Global PET Foam Market Report Summary
|Industry||PET foam Market|
(2016 – 2023)
Largest Market Share by Region
3M Company, BASF SE, Huntsman Corporation, Carbon-Core Corporation, and Armacell International S.A, among others.
PET foam market report offers latest trends, growth prospects, industry competitiveness, major players, value/supply chain, regional market share and forecast to 2023.
Reasons to Purchase this Report
- Identify the current and future prospects of the global PET foam market in the developed and emerging markets
- Analyze various perspectives of the market with the help of Porter’s five forces analysis
- Information about the growth of the various end-user industry that are expected to dominate the market
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
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1.1 Scope of the Report
1.2 Market Definition
1.3 Study Assumptions
1.4 Study Deliverables
1.5 Research Phases
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness- Porters Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Intensity of Competitive Rivalry
3.4 Patent Analysis
4. Market Dynamics
4.1.1 Growing Demand of Lightweight Material from Automotive Industry
4.1.2 Increasing Construction Activities in Asia-Pacific
4.1.3 Other Drivers
4.2.1 Availability of Substitute for PET Foam
4.2.2 Other Restraints
4.3.1 Potential Growth in Wind Energy Market
4.3.2 Other Opportunities
5. Market Segmentation and Analysis (Market Size, Growth and Forecast)
5.1 By Type
5.1.1 Low-Density PET Foam
5.1.2 High-Density PET Foam
5.2 By End-User Industry
5.2.1 Building & Construction
5.2.5 Wind Energy
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Rest of Asia-Pacific
6.2.4 United Kingdom
6.2.5 Nordic Countries
6.2.6 Rest of Europe
6.3 North America
6.3.1 United States
6.3.4 Rest of North America
6.4 South America
6.4.3 Rest of South America
6.5 Middle-East & Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
6.5.3 Rest of Middle-East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.1 3M Company
8.2 BASF SE
8.3 Huntsman Corporation
8.4 Carbon-Core Corporation
8.5 Armacell International S.A.
8.6 Nitto Denko
8.7 Diab Group
8.9 Sekisui Plastics Co., Ltd.
8.10 Changzhou Tiansheng New Materials Co., Ltd.
8.11 Petro Polymer Shargh
*List not Exhaustive
** Subject to availability on public Domain