Polyethylene Terephthalate (PET) Foam Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market is segmented by Type (Low-Density PET Foam and High-Density PET Foam), End-user Industry (Building and Construction, Marine, Packaging, Transportation, Wind Energy, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

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Polyethylene Terephthalate Foam Industry Overview

PET Foam Market Size
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 7 %

Major Players

PET Foam Market Key Players

*Disclaimer: Major Players sorted in no particular order
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Polyethylene Terephthalate Foam Market Analysis

The global polyethylene terephthalate foam market is estimated to witness a healthy growth, at an estimated CAGR of over 7%, over the forecast period. The major factors driving the growth of the market studied are growing demand of lightweight material from automotive industry and increasing construction activities in Asia-Pacific.

  • Availability of substitutes for PET foam are likely to hinder the markets growth.
  • Potential growth in wind energy market is likely to create opportunities for the market in the coming years.
  • Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.

Polyethylene Terephthalate Foam Industry Segments

The global polyethylene terephthalate foam market report includes:

Type
Low-Density PET Foam
High-Density PET Foam
End-user Industry
Building and Construction
Marine
Packaging
Transportation
Wind Energy
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Polyethylene Terephthalate Foam Market Trends

This section covers the major market trends shaping the Polyethylene Terephthalate Foam Market according to our research experts:

Increasing Usage in the 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.
  • In 2019, the automotive production witnessed a decline owing to trade war pf US-China and other political reasons. This is expected to continue in the first half of 2020, owing to the weak sales in second half of 2019. However, the automotive industry is likely to recover by the end of 2020.
  • In addition, the development of electric vehicles may continue to gain momentum in the upcoming years especially in Europe, China. and United States, where many government programs are promoting a move away from fossil fuels owing to the various environmental concerns.
  • Owing to all these factors, the market for PET Foams is likely to grow across the world during the forecast period.
PET Foam Market Share

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country’s manufacturing sector is one of the major contributors to the country’s economy.
  • China is the largest manufacturer of automobiles in the world. The country’s automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, in order to ensure fuel economy, and to minimize emissions (owing to the growing environmental concerns due to mounting pollution in the country).
  • The production is expected to reach 30 million units by 2020, owing to the “Made in China 2025” initiative support in upgrading the existing low-cost mass production to higher value-added advanced manufacturing. “Automobile Mid and Long-Term Development Plan”, was released in 2017, with an objective to make China a strong auto power in the next ten years.
  • China’s 13th Five Year Plan started in 2016 as it was an important year for the country’s engineering, procurement, and construction (EPC) industry. In addition to this, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country.
  • Due to all such factors, the market for polyethylene terephthalate foam in the region is expected to have a steady growth during the forecast period.
PET Foam Market Growth

Polyethylene Terephthalate Foam Market Competitor Analysis

The polyethylene terephthalate foam market is partially consolidated in nature. Some of the major players in the market include 3M, Huntsman International LLC, Carbon-Core Corp., Armacell, and Gurit, among others.

Polyethylene Terephthalate Foam Market Top Players

  1. Huntsman International LLC

  2. Carbon-Core Corp.

  3. Armacell

  4. Gurit

*Disclaimer: Major Players sorted in no particular order

Huntsman International LLC, Carbon-Core Corp., Armacell, Gurit

Polyethylene Terephthalate Foam Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand of Lightweight Material from Automotive Industry

      2. 4.1.2 Increasing Construction Activities in Asia-Pacific

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Availability of Substitutes for PET Foam

      2. 4.2.2 Impact of COVID-19 Pandemic

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Low-Density PET Foam

      2. 5.1.2 High-Density PET Foam

    2. 5.2 End-user Industry

      1. 5.2.1 Building and Construction

      2. 5.2.2 Marine

      3. 5.2.3 Packaging

      4. 5.2.4 Transportation

      5. 5.2.5 Wind Energy

      6. 5.2.6 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 ASEAN Countries

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Huntsman International LLC

      3. 6.4.3 Carbon-Core Corp.

      4. 6.4.4 Armacell

      5. 6.4.5 NITTO DENKO CORPORATION

      6. 6.4.6 Diab Group

      7. 6.4.7 Gurit

      8. 6.4.8 SEKISUI PLASTICS CO.,LTD.

      9. 6.4.9 Changzhou Tiansheng New Materials Co., Ltd.

      10. 6.4.10 Petro Polymer Shargh

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Potential Growth in Wind Energy Market

**Subject to Availability
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Polyethylene Terephthalate Foam Market Research FAQs

The Polyethylene Terephthalate (PET) Foam Market is studied from 2018 - 2028.

The Polyethylene Terephthalate (PET) Foam Market is growing at a CAGR of >7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

Huntsman International LLC, Carbon-Core Corp., Armacell, Gurit are the major companies operating in Polyethylene Terephthalate (PET) Foam Market.

Polyethylene Terephthalate (PET) Foam Industry Reports

In-depth industry statistics and market share insights of the Polyethylene Terephthalate (PET) Foam Market sector for 2020, 2021, and 2022. The Polyethylene Terephthalate (PET) Foam Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Polyethylene Terephthalate (PET) Foam Market report PDF.

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