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Polyethylene Terephthalate (PET) Foam Market - Segmented by Type, End-User Industry, and Geography - Analysis of Growth, Trends, and Forecast (2020 - 2025)

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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

MetricsDetails
IndustryPET foam Market
Study Period

(2016 – 2023)

Largest Market Share by Region

Asia-Pacific

Companies Covered

3M Company, BASF SE, Huntsman Corporation, Carbon-Core Corporation, and Armacell International S.A,  among others.

Report Offerings

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)

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