Rising urbanization and growing disposable income of consumers directly impact the retail sector, which is experiencing an expansion of organized retail spaces, especially e-commerce. In addition, the e-commerce industry is growing at a rapid pace in most regions owing to the growing penetration of the internet and mobile devices. This growth of e-commerce has led to an increase in demand for protective packaging, such as foams, for safe delivery of goods to the consumers. Thus, the growth of e-commerce market is expected to drive the growth of the plastic foams market during the forecast period.
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As per Technavio, the rising popularity of ceramic foams will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Plastic Foams Market : Rising Popularity of Ceramic Foams
Ceramic foams are inorganic and non-metallic materials made of oxide and non-oxide ceramic materials. Usually, these are formed by immersing open-cell polymer foams in ceramic slurries and subsequent firing in kilns. These foams are porous materials and can be of open, closed, or partially opened porosity. Numerous ceramic materials, such as silica oxide, silicon carbide, aluminum oxide, graphite-based ceramic foams, magnesium oxide, and other alloys, can be used to manufacture ceramic foams based on the properties required for specific applications. One of the main applications of the ceramic foams is its use as thermal and sound insulating material due to its low thermal conductivity. Thus, the rising popularity of ceramic foams is expected to drive the growth of the market.
“Factors such as the rising popularity of green building, and the growing focus on development of sustainable products will have a positive impact on the growth of the plastic foams market value during the forecast period,” says a senior analyst at Technavio.
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Plastic Foams Market: Segmentation Analysis
This market research report segments the plastic foams market by type (polyurethane foam, polystyrene foam and others), end-user (building and construction, packaging, automotive, furniture and bedding, and others), and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the plastic foams market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the growing e-commerce market and growth in the automotive and construction industries.
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Some of the key topics covered in the report include:
- Polyurethane foam
- Polystyrene foam
- Building and construction
- Furniture and bedding
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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