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PET Foam Market Trend Analysis, Competitive Market Share during 2021-2027

The global PET foam market was worth USD 252.5 million in the year 2020. It is further projected to grow at the CAGR of 11.0% during 2021-2027 (forecast period), earning revenue of around USD 504.1 million by the end of 2027.

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PET Foam Market Trend Analysis, Competitive Market Share during 2021-2027

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  1. PET Foam Market, By Raw Material, Trend Analysis, Market Share & Forecast, 2021-2027

  2. Industry Trends & Forecast Report 2027 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global PET foam market was worth USD 252.5 million in the year 2020. The data gathered by the study reveals that the market is estimated to grow at the CAGR of 11.0%, earning revenue of around USD 504.1 million by the end of 2027. PET Foams or Polyethylene terephthalate foams are thermoplastic closed-cell foams that are increasingly used in sandwich construction. The growth of the PET foam market can be attributed to a number of factors, including the development of end-user sectors such as construction, wind energy, transportation, and packaging, among others.

  3. Growth drivers Infrastructural Development and Surge in Construction Activities PET foam has a wide variety of applications such as making window frames, interior architecture, facades, roofs & domes, gates, shower cabin lines, etc. in the construction industry. The construction industry is rising at a very rapid rate. The growth is especially significant in developing countries, with expanding investment from the government as well as private establishments. This is estimated to pull significant demand for PET foam in the forecast period, boosting the growth of the global PET foam market.

  4. Restraints Rising Awareness Towards Environment Protection and Sustainability The polyethylene terephthalate (PET) foam market faces restrictions with the rising awareness towards environmental protection. Plastic is the prime cause of pollution and environmental degradation and is becoming a cause of concern for almost all countries. Necessary steps are being taken to limit the production of plastic to promote sustainable development. For instance, Washington State already passed a bill that bans the use of PET foam. Other parts of the country like Virginia are also following in the same footsteps. This is expected to become a setback for the growth of the global PET foam market. Additionally, PET foam is dealing with a number of drawbacks, especially in new application areas.

  5. Impact of Covid-19 on Global PET Foam Market The global PET foam market had to go through severe disruption due to the Covid-19-induced pandemic. Because of the Covid-19 outbreak, most countries had to go into lockdown, halting numerous wind energy and building & construction projects and activities, thereby hampering the growth of the PET foam market. The production of all the non-essential goods was either immediately paused or cut down to half. This significantly declined the need and demand for PET foam, directly impacting the market growth. During the post-Covid-19 period, the PET foam market is estimated to grow as the operation of end-user industries like construction, packaging, transportation, etc. resumes.

  6. Global PET Foam Market - Regional Insights Geographically, the global PET foam market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these, Asia-Pacific is the most dominant region due to the rising demand for PET foam in the region for various constructional activities and infrastructural development in emerging economies such as India, China, Brazil, Argentina, etc. Furthermore, the demand for PET foam is very significant in high production countries such as China, India, Japan, etc. with foam used for many purposes such as packaging, transportation, etc.

  7. Competitive Landscape The leading market players in the global PET foam market are Nitto Denko Corporation, 3M, Carbon-Core Corp., Huntsman International LLC, Gurit, Petro Polymer Shargh, Changzhou Tiansheng New Materials Co., Ltd., Diab Group, Armacell, Sekisui Plastics Co., Ltd., Corelite, Visight Composite Material Co., Ltd, Composite Essential Materials LLC, XTX Composites, Hunan Rifeng Composite Co., Ltd, Nitto Denko, 3A Composites, and other prominent players. Sample Copy of the Report :https://www.blueweaveconsulting.com/report/global-pet-foam-market/report-sample

  8. About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.

  9. Contact Us: +1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662    info(@)blueweaveconsulting.com www.blueweaveconsulting.com

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