Pune, 06, Dec, 2022: Maximize Market Research is a leading material and chemical research firm that has delivered a detailed analysis of the PET Foam Market. The report includes key business insights, demand analysis, pricing analysis and competitive landscape. In the report, the market is segmented by raw material, grade type, end-use industry and region. The report expects the market to grow from USD 361.45 million in 2021 to USD 645.12 million by 2029 at a CAGR of 7.51 percent during the forecast period from 2022 to 2029.
PET Foam Market Scope and Research Methodology
The report is an analysis of the PET Foam Market by region, segment and competitive landscape. For a thorough understanding of the global factors affecting the PET Foam Market, the report presents drivers, challenges, restraints and opportunities prevailing in the PET Foam Market. Key insights such as the market share and market presentation are presented in the report with the help of figures and tables. The report covers the current trends prevailing in the market along with estimations about future trends to help understand investors identify investment pockets and opportunities in the PET Foam Market.
The report is equipped with a competitive analysis of the PET Foam Market. Key players and new entrants in the PET Foam Market are listed together. These are analysed by region, revenue, financial status, portfolio, technological advancements adopted, social media presence, mergers and acquisitions, joint ventures and strategic alliances. Demand and pricing analysis is conducted to understand changes in consumer behaviour and the risks for the forecast period that help plan production and costing. The analysis aids new entrants understand the PET Foam Market for growth prospects and future business outlooks.
SWOT analysis was conducted to provide the strengths and weaknesses of the PET Foam Market while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the PET Foam Market. Such analysis presents relevant information required for strategic business planning, product development and workforce planning. Thus the report provides a detailed overview of the PET Foam Market.
The bottom-up approach was employed to validate the market size in terms of value and volume by different segments of the product. Data was collected using both primary and secondary data collection methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was collected from a list of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases.
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PET Foam Market Overview
PET (polyethylene terephthalate) that is also known as polyester resin, is a thermoplastic core material that reduces weight and enhances performance. It is used as a sandwich panel that has a wide range of applications. It is lightweight, has closed cells, has high strength and is flame retardant which makes it an excellent option in the construction industry, road and rail transportation and aviation.
PET Foam Market Dynamics
Rapid urbanisation has increased the need for housing in cities. This is especially true for developing countries like India and China that are experiencing overpopulation of cities. The meet this need, the construction industry is witnessing growth, driving the PET Foam Market growth. PET foam is used in residential buildings and other architectural applications. The foam is simple for installing and improves energy efficiency. The foam also lowers maintenance and repair costs. These factors are expected to drive the PET Foam Market growth over the forecast period.
The lightweight polymer has also witnessed an increase on account of its increasing application in the automotive industry. Given its lightweight property, it is used heavily in the making of lightweight vehicles. The foam is also used in several external components of automobiles like wiper arms and gear housing because of their minimal water-absorbing quality. This is expected to increase the demand for the PET Foam Market during the forecast period.
PET Foam Market Regional Insights
During 2021, the PET Foam Market was dominated by the Asia-Pacific region and is expected to experience a growth at a CAGR of 8.12 percent. China is the fastest-growing country in the region. The regional growth is attributed to the fast-paced growth of the aerospace industry. Rapid urbanisation in the industry is expected to boost the growth of the construction industry which is expected to drive the regional PET Foam Market growth.
PET Foam Market Segmentation:
By Raw Material:
- Virgin PET
- Recycled PET
By Grade Type:
- Low-density
- High-density
By End-Use Industry:
- Building & Construction
- Wind Energy
- Marine
- Packaging
- Transportation
- Others
PET Foam Market Key Manufacturers include:
- Carbon-Core Corp. (U.S.)
- CoreLite (U.S.)
- 3M (U.S.)
- Huntsman International (U.S.)
- Acrylic Depot (Canada)
- Changzhou Tiansheng New Materials Co. Ltd (China)
- Sekisui Plastics (Japan)
- Petro Polymer Shargh (Iran)
- Nitto Denko Corporation (Japan)
- Armacell International SA (Germany)
- 3A Composites (Switzerland)
- Gurit Holding (Switzerland)
- Synthos S.A (Poland)
- DIAB Group (Sweden)
- J.H. Ziegler Gmbh (Germany)
- Schweiter Technologies (Switzerland)
- BASF SE (Germany)
Key questions answered in the PET Foam Market are:
- What is PET Foam?
- What is the current growth rate of the PET Foam Market?
- What is the growth rate of PET Foam Market for the forecast period?
- What is the nature of competition in PET Foam industry in developed and developing economies?
- Who are the key players in the PET Foam Market?
- Who are the market leaders of PET Foam in Europe?
- Who are the market leaders of PET Foam in USA and Canada?
- Who are the market leaders of PET Foam in India, China, Japan and South Korea?
- What are the factors affecting growth in the PET Foam Market?
- Who held the largest market share in PET Foam Market?
- What are the factors for the growth of Asia-Pacific region in PET Foam Market?
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Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Raw Material, Grade Type, End-Use Industry and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading material and chemical research firm, has also published the following reports:
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Bio-based Polyurethane Foam Market –The Bio-based Polyurethane Foam Market size is expected to reach USD 58.18 billion by 2029 at a CAGR of 5.9 percent during the forecast period. The Bio-based Polyurethane Foam Market is expected to be driven by demand for green housing and increasing demand of the automotive industry.
Syntactic Foam Market –The Syntactic Foam Market size is expected to reach USD 188.22 million by 2029 at a CAGR of 5.2 percent during the forecast period. The Syntactic Foam Market is expected to be driven by increasing oil and gas activity in deep waters.
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