“Increasing Competition from Substitutes in the PET Foam Market”
FEATURED COMPANIES
- 3A Composites
- Carbon-Core Corp.
- Corelite
- Diab Group
- Gurit Holding Ag
- Sekisui Chemical Co Ltd
The PET foam market is projected to grow from USD 361 million in 2022 to USD 503 million by 2027, at a CAGR of 6.9% from 2022 to 2027. The PET foam market growth is estimated to be majorly driven by growing economies of Asia Pacific region.
Recycled PET foams offer several benefits such as cost-effectiveness and reduced carbon footprint. They are used as core materials in automotive applications, and as structural foams in construction applications. Moreover, few companies such as Armacell International S.A. (Luxembourg), Petro Polymer Shargh (Iran), recycle PET found in food and beverage bottles into the foam.
The low-density PET foam dominated the PET foam market, in terms of volume and value, in 2021. Low-density foam is widely used as a thermal insulator due to the low thermal conductivity of the gas phase and as a structural material for construction and furniture. Thus, the wide application of low-density PET foam and its superior qualities compared to the other core materials is driving the segment.
The wind energy application segment dominated the PET foam market, in terms of volume and value, in 2021. PET foam can be an ideal replacement for other core materials such as PVC, SAN, PU foams, and balsa. Core materials are used in wind turbine blades as sandwich panels in composite forms. The blades are made by combining core materials and glass-reinforced polyester/epoxy.
The increasing demand for PET foam in transportation, wind energy, and building & construction applications is driving the market in this region. The growth of the wind energy industry in this region has increased the demand for producing lightweight composite structures.
The report defines, segments, and projects the PET foam market based on raw material, grade, application, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It strategically profiles, PET foam manufacturers and comprehensively analyzes their market shares and core competencies as well as tracks and analyzes competitive developments, such as expansions, acquisitions, and product launches, undertaken by them in the market.
The report is expected to help the market leaders/new entrants in the market by providing them with the closest approximations of revenue numbers of the PET foam market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Recycled PET foam dominated the PET foam market, by raw material in terms of value and volume, in 2021
Recycled PET foams offer several benefits such as cost-effectiveness and reduced carbon footprint. They are used as core materials in automotive applications, and as structural foams in construction applications. Moreover, few companies such as Armacell International S.A. (Luxembourg), Petro Polymer Shargh (Iran), recycle PET found in food and beverage bottles into the foam.
Low-density PET foam dominated the PET foam market, by grade in terms of value and volume, in 2021
The low-density PET foam dominated the PET foam market, in terms of volume and value, in 2021. Low-density foam is widely used as a thermal insulator due to the low thermal conductivity of the gas phase and as a structural material for construction and furniture. Thus, the wide application of low-density PET foam and its superior qualities compared to the other core materials is driving the segment.
Wind energy application dominated the PET foam market, in terms of value and volume, in 2021
The wind energy application segment dominated the PET foam market, in terms of volume and value, in 2021. PET foam can be an ideal replacement for other core materials such as PVC, SAN, PU foams, and balsa. Core materials are used in wind turbine blades as sandwich panels in composite forms. The blades are made by combining core materials and glass-reinforced polyester/epoxy.
Asia Pacific region dominated the PET foam market, in terms of value and volume, in 2021
The increasing demand for PET foam in transportation, wind energy, and building & construction applications is driving the market in this region. The growth of the wind energy industry in this region has increased the demand for producing lightweight composite structures.
Profile break-up of primary participants for the report:
- By Company Type: Tier 1 - 37%, Tier 2 - 42%, and Tier 3 - 21%
- By Designation: C-level Executives - 30%, Directors - 25%, and Managers - 45%
- By Region: North America - 20%, Europe - 27%, Asia Pacific - 40%, South America - 7%, Middle East & Africa - 6%
Research Coverage:
The report defines, segments, and projects the PET foam market based on raw material, grade, application, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It strategically profiles, PET foam manufacturers and comprehensively analyzes their market shares and core competencies as well as tracks and analyzes competitive developments, such as expansions, acquisitions, and product launches, undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them with the closest approximations of revenue numbers of the PET foam market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.| Report Attribute | Details |
|---|---|
| No. of Pages | 168 |
| Published | June 2022 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value ( USD ) in 2022 | $ 361 Million |
| Forecasted Market Value ( USD ) by 2027 | $ 503 Million |
| Compound Annual Growth Rate | 6.9% |
FEATURED COMPANIES
- 3A Composites
- Carbon-Core Corp.
- Corelite
- Diab Group
- Gurit Holding Ag
- Sekisui Chemical Co Ltd
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Macroeconomic Overview and Key Trends
8 PET Foam Market, by Raw Material
9 PET Foam Market, by Grade
10 PET Foam Market, by Application
11 PET Foam Market, by Region
12 Competitive Landscape
13 Company Profile
14 Adjacent and Related Markets
15 Appendix
- 3A Composites
- Armacell International S.A.
- Carbon-Core Corp.
- Changzhou Tiansheng New Materials Co. Ltd
- Composite Essential Materials LLC
- Corelite
- Diab Group
- Gurit Holding Ag
- Hunan Rifeng Composite Co., Ltd
- PETro Polymer Shargh (Pps)
- Sekisui Chemical Co Ltd
- Visight Composite Material Co., Ltd
- Xtx Composites
LOADING...
