Market Overview:
Microcellular plastics or microcellular foam is a kind of plastic that designed to contain billions of tiny bubbles of the order of 10 micrometers in diameter. Their densities varied from 3% to 95% of the solid polymer, which is dependent on the volume taken by the bubbles.
Competitive Analysis:
The major players operating in the microcellular plastics are BASF SE (Germany), Horizon Plastics International Inc. (Canada), Gracious Living Innovations (Canada), Armacell Canada Inc. (Canada), Ingenia Polymers Corp. (U.S.), Total Plastics Solutions (U.S.), Lavergne Group (Canada), Sealed Air (U.S.), Trexel, Inc. (U.S.), and Griswold Corporation (U.S.)
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They offer various advantages over conventional plastic include such as higher productivity on account of faster processing times and sink-mark free injection molded parts with no residual stress and high dimensional stability. They are widely utilized in a various end-use application such as automotive & transportation, building & construction, food packaging, healthcare, electrical & electronics, and others owing to superior properties such as dielectric strength, excellent thermal stability, high strength to weight ratio, fatigue life, and acoustical & thermal insulation performance.
Some of the prominent factors that positively influence the growth of microcellular plastics market are improved standard of living, rising consumption of microcellular plastics in packaging items, and rising urbanization. Furthermore, booming food packaging sector on account of increasing consumption of packaged food in developed and developing economies is estimated to drive the demand for microcellular plastics over the forecast period, 2017-2023.
Increasing demand for high-performance materials in numerous end-use industries is estimated to enhance the growth of the market across the globe. Moreover, increasing building & construction activities in emerging economies are expected to boost the demand for microcellular plastics during the review period. Furthermore, continuous growth of sports & equipment industry along with increasing consumption of high-performance plastics is estimated to give a new momentum for the growth of the market over the assessment period.
Market Segmentation:
The global microcellular plastics market is further classified on the basis of application and region. On the basis of the application, the microcellular plastics market is segmented into building & construction, automotive & transportation, healthcare, electrical & electronics, food packaging, and others. Among them, automotive & transportation is estimated to hold the leading market share in 2016, which is further followed by electrical & electronics. The factor behind the segment growth is increasing automotive production and sales along with rising demand for high-performance plastic material in these industries. Electrical & electronics application segment is predicted to grow at the highest CAGR owing to increasing purchasing power of consumer along with rising consumption of household devices. Increasing usage of microcellular foams for interior application, hollow wall claddings, ceilings, windows, and doors is estimated to fuel the building & construction segment over the forecast period.
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Regional Analysis:
The global Microcellular Plastics plastics market consists of five regions: Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa. The Asia Pacific region is predicted to grow at the highest CAGR over the assessment period owing to the continuous expansion of numerous end-use industries such as electrical & electronics, building & construction, and automotive & transportation among others.
The demand for Microcellular Plastics plastics is expected to surge in several countries of Asia Pacific such as the Philippines, Australia, Taiwan, South Korea, China, India, Japan, Thailand, Malaysia, Bangladesh, and Vietnam on account of rising production and sales of automotive vehicle coupled with strong manufacturing base for electrical & electronics sector. Furthermore, inexpensive labor and land cost, growing purchasing power, low production set up cost, and moderately stringent regulatory framework are some of the prominent factors for the regional market growth.
Europe emerged as the largest market for Microcellular Plastics plastics in 2016 followed by the Asia Pacific and North America. North America is estimated to witness steady growth in Microcellular Plastics plastics market due to the recovery of industrial sector along with rising expenditure on renovation & maintenance of construction sector over the estimated period.
The U.S. and Canada are among the leading contributors in North American regional market growth and is estimated to witness moderate growth due to increasing usage in food packaging and continuous growth of healthcare sector. In Europe, countries such as Germany, UK, Italy, France, and Russia are among the leading contributors in the regional market growth due to the strong presence of automotive manufacturers along with increasing investment in R&D and innovation activities in this field. Latin American countries such as Brazil, Mexico, Argentina,
Colombia, and Venezuela is estimated to witness moderate growth owing to strong consumer base for automotive & transportation sector. The Middle East & Africa is estimated to witness lucrative growth on account of rising building & construction activities specifically in Saudi Arabia, the United Arab Emirates, Turkey, Oman, Kuwait, and Iran. Furthermore, expansion of numerous end-use industries is estimated to influence the market growth during the review period positively
Intended Audience:
- Microcellular Plastics Plastics manufacturers
- Traders and Distributors of Microcellular Plastics plastics
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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