Portland, OR, March 09, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global microcellular plastic market generated $47.6 billion in 2021, and is estimated to reach $93.0 billion by 2031, witnessing a CAGR of 7.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $47.6 Billion |
| Market Size in 2031 | $93.0 Billion |
| CAGR | 7.1% |
| No. of Pages in Report | 300 |
| Segments Covered | Type, End User, and Region |
| Drivers | Increase in demand for microcellular plastics in the food packaging, building & construction, and other industries |
| Opportunities | Surge in the consumption of packaged food |
| Restraints | The availability of alternatives |
Covid-19 Scenario:
- The global market for microcellular plastic was severely affected by the COVID-19 outbreak as a result of the production disruptions and supply-chain delays brought on by the mandatory halts and lockdowns ordered by government bodies all over the world.
- However, as the global situation started recovering, the demand for microcellular plastic manufacturing also got retrieved slowly and steadily.
The report offers a detailed segmentation of the global microcellular plastic market based on type, end-user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
By type, the polyurethane (PU) segment held the largest share in 2021, garnering more than one-fourth of the global microcellular plastic market revenue, and is projected to maintain its dominance by 2031. The polyethylene terephthalate (PET) segment, on the other hand, would showcase the fastest CAGR of 7.8% during the forecast period. The polystyrene (PS), polyvinyl chloride (PVC), polycarbonate (PC), and others segments are also analyzed through the report.
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By end-user, the food packaging segment contributed to more than one-fourth of the global microcellular plastic market revenue and is projected to rule the roost by 2031. The building and construction segment, on the other hand, would display the fastest CAGR of 7.6% throughout the forecast period. The other segments assessed through the report take in healthcare, electrical and electronics, and others.
By region, Asia-Pacific held the major share in 2021, garnering nearly half of the global microcellular plastic market revenue, and is projected to rule the roost by 2031. The same region would also showcase the fastest CAGR of 7.3% throughout the forecast period. The other provinces studied through the report include North America, Europe, and LAMEA.
The key market players analyzed in the global microcellular plastic market report include, Formosa Plastics Corporation, Trinseo, Armacell, BASF SE, INOAC, Total Energies SE, INEOSCORPORATION, RTP company, LAVERGNE, Inc., SABIC, Gracious Living Innovations, Horizon Plastics, microgreen Polymers, and ABC Group. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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