Dublin, Oct. 27, 2022 (GLOBE NEWSWIRE) -- The "PET Foam Market by Raw Material (Virgin PET and Recycled PET), Grade (Low-density and High-density), Application (Wind Energy, Transportation, Marine, Building & Construction, Packaging) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The PET foam market is projected to grow from USD 361 million in 2022 to USD 503 million by 2027, at a CAGR of 6.9% from 2022 to 2027. The PET foam market growth is estimated to be majorly driven by growing economies of Asia Pacific region.
Recycled PET foam dominated the PET foam market, by raw material in terms of value and volume, in 2021
Recycled PET foams offer several benefits such as cost-effectiveness and reduced carbon footprint. They are used as core materials in automotive applications, and as structural foams in construction applications. Moreover, few companies such as Armacell International S.A. (Luxembourg), Petro Polymer Shargh (Iran), recycle PET found in food and beverage bottles into the foam.
Low-density PET foam dominated the PET foam market, by grade in terms of value and volume, in 2021
The low-density PET foam dominated the PET foam market, in terms of volume and value, in 2021. Low-density foam is widely used as a thermal insulator due to the low thermal conductivity of the gas phase and as a structural material for construction and furniture. Thus, the wide application of low-density PET foam and its superior qualities compared to the other core materials is driving the segment.
Wind energy application dominated the PET foam market, in terms of value and volume, in 2021
The wind energy application segment dominated the PET foam market, in terms of volume and value, in 2021. PET foam can be an ideal replacement for other core materials such as PVC, SAN, PU foams, and balsa. Core materials are used in wind turbine blades as sandwich panels in composite forms. The blades are made by combining core materials and glass-reinforced polyester/epoxy.
Asia Pacific region dominated the PET foam market, in terms of value and volume, in 2021
The increasing demand for PET foam in transportation, wind energy, and building & construction applications is driving the market in this region. The growth of the wind energy industry in this region has increased the demand for producing lightweight composite structures.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in PET Foam Market
4.2 PET Foam Market, by Region
4.3 Asia-Pacific PET Foam Market, by Country
4.4 PET Foam Market, by Raw Material
4.5 PET Foam Market, by Application
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth of the Wind Energy Sector
5.2.1.2 Growing Demand for Lightweight Vehicles Worldwide
5.2.2 Restraints
5.2.2.1 Increasing Competition from Substitutes
5.2.3 Opportunities
5.2.3.1 Rising Trend of Using Recycled Materials
5.2.4 Challenges
5.2.4.1 Impact of COVID-19 on Various End-Use Industries
6 Industry Trends
6.1 Introduction
6.2 Porter's Five Forces Analysis
7 Macroeconomic Overview and Key Trends
7.1 Introduction
7.1.1 Economic Outlook
7.2 Growth in Wind Energy Industry
7.3 Trends in the Automotive Industry
7.4 Trends in the Construction Industry
7.5 Price Analysis
7.6 Value Chain Analysis
7.7 Patent Analysis
7.8 Tariff and Regulatory Landscape
7.9 Case Study
7.9.1 Use Cases
7.10 Trade Flow
7.11 Ycc Shift in PET Foam Market
8 PET Foam Market, by Raw Material
8.1 Introduction
8.2 Recycled PET
8.2.1 Shift Towards Sustainable Use of PET Bottles is Expected to Drive this Segment
8.3 Virgin PET
8.3.1 Virgin PET Foam Materials Have High Applicability in Varied Applications
9 PET Foam Market, by Grade
9.1 Introduction
9.2 Low-Density
9.2.1 Wide Ranging Applications and Properties of Low-Density PET Foam are Driving this Segment
9.3 High-Density
9.3.1 High Demand in Packaging Application Driving High-Density PET Foam Segment
10 PET Foam Market, by Application
10.1 Introduction
10.2 Wind Energy
10.2.1 PET Foam Expected Lead in Wind Energy Segment as It Enables Lightwieght Wind Blades
10.3 Transportation
10.3.1 Utilization of PET Foam in Transportation Leading to Decreasing Fuel Consumption
10.4 Marine
10.4.1 Corrosion-Resistance Property Expected to Increase Use of PET Foam in Marine Segment
10.5 Packaging
10.5.1 Factors Such as Recyclability and Low Weight Expected to Increase Use of PET Foam in Packaging Industry
10.6 Building & Construction
10.6.1 Energy Efficient Property of PET Foam Expected to Propel Demand in Building & Construction Industry
10.7 Others
11 PET Foam Market, by Region
12 Competitive Landscape
12.1 Overview
12.2 Market Share Analysis
12.2.1 Market Share Analysis of Top Players in the PET Foam Market
12.3 Company Evaluation Quadrant Matrix Definitions and Methodology, 2019
12.3.1 Star
12.3.2 Emerging Leaders
12.3.3 Pervasive
12.3.4 Participants
12.4 Competitive Benchmarking
12.4.1 Strength of Product Portfolios
12.4.2 Business Strategy Excellence
12.5 Key Market Developments
13 Company Profile
13.1 3A Composites
13.2 Diab Group
13.3 Gurit Holding Ag
13.4 Armacell International S.A.
13.5 Sekisui Chemical Co Ltd
13.6 Changzhou Tiansheng New Materials Co. Ltd
13.7 PETro Polymer Shargh (Pps)
13.8 Carbon-Core Corp.
13.9 Composite Essential Materials LLC
13.10 Visight Composite Material Co., Ltd
13.11 Corelite
13.12 Hunan Rifeng Composite Co., Ltd
13.13 Xtx Composites
14 Adjacent and Related Markets
15 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/9b8ur8
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