Dublin, April 24, 2023 (GLOBE NEWSWIRE) -- A global Material & Chemical research and business-consulting firm, Maximize Market Research, has published a market intelligence report on the “Microcellular Plastics Market”. The report is a combination of primary data and secondary data and domain expert has analyzed the Microcellular Plastics Market from a local as well as a global point of view. Over the forecast period, Maximize Market research expects, the market to grow from USD 47.5 Bn in 2022 to USD 81.61 Bn in 2029 at a CAGR of 7 percent.
Microcellular Plastics Market Report Scope and Research Methodology
| Market Size in 2022 | USD 47.5 Bn. |
| Market Size in 2029 | USD 81.61 Bn. |
| CAGR | 7 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 276 |
| No. of Tables | 116 |
| No. of Charts and Figures | 114 |
| Segment Covered | Type and End-User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The report provides detailed data regarding production, retail pricing and supply-chain details and manufacturing cost of major key players in the Microcellular Plastics Market. The report provides analysis through segments such as light source, offering, grid type and application along with their multiple sub-segments. The report provides an analysis of the Microcellular Plastics Market through product penetration, investment in research and development, new market trends and competitive landscape. The bottom-up approach is used to estimate the size of the market by value and volume. Data has been collected through primary and secondary research methods. Primary data has been gathered from interviews with market leaders and opinions from senior research analysts. Whereas, data from public records and annual reports of an organization has been collected in secondary. Collected data later analyzed by tools such as SWOT analysis, PORTER’s five force model and PESTLE analysis, which provides socio-political aspects of the market in major geographic regions such as North America, Asia Pacific, Middle East and Africa, Europe and South America.
Microcellular Plastics Market Overview
The major purpose of microcellular plastics is to reduce material usage and maintain its mechanical properties. It is a type of plastic with a high density of small cells dispersed throughout its structure. Since Microcellular Plastic’s non-hazardous in nature, it is possible to be recycled and put back into the production cycle.
Microcellular Plastics Market Dynamics
Increased demand for sustainable packaging is expected to drive the Microcellular Plastics Market. Microcellular plastics are more stable than other plastics and are resistant to chemical substances, water and non-harmful materials since it is expected to drive the growth of the Microcellular Plastics Market. The major factors driving the demand for microcellular plastics are properties of it such as lightweight, thermal insulation, energy absorption and filtration. These features are giving a competitive edge to the product. This is expected to propel the demand for Microcellular Plastics. Microcellular plastics have more demand in the residential and commercial sectors. Uncertainty in the prices of raw materials is expected to constrain the Microcellular Plastics Market.
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Microcellular Plastics Market Regional Insights
Asia-Pacific is expected to hold the largest share of the market during the forecast period. The increased demand from various industries to reduce the weight of vehicles to improve fuel efficiency. Also, Toyota Motor Corporation has been using a technology called “Microscopic Foam Injection Molding” to produce lightweight components. These developments are expected to drive the Asia Pacific Microcellular Plastics Market.
Microcellular Plastics Market Segmentation
By Type:
- Polystyrene (PS)
- Polyvinyl Chloride (PVC)
- Polycarbonate (PC)
- Polyethylene Terephthalate (PET)
- Polyurethane (PU)
- Other
Polyurethane was the largest segment to generate revenue in 2022. Microcellular polyurethane plastics focus on reducing the weight of products, especially in the automotive and aerospace industry.
By End-User:
- Healthcare
- Building and Construction
- Food Packaging
- Electrical and Electronics
- Other
The food packaging segment held the largest share of Microcellular Plastics in 2021. The high-density polyethylene is one of the most widely used microcellular plastic in food and beverages industry due to its features such as semi-translucent, lightweight plastic bag resist temperature fluctuations.
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Microcellular Plastics Market Key Competitors include:
- BASF SE
- Dow Chemical Company
- Mitsui Chemicals, Inc.
- Evonik Industries AG
- Trexel, Inc.
- Sealed Air Corporation
- Horizon Plastics International, Inc.
- Mearthane Products Corporation
- Polycel Structural Foam, Inc.
- Gracious Living Innovations Inc.
- Sonoco Products Company
- MicroGREEN Polymers, Inc.
- RPC Group plc
- Armacell International SA
- Borealis AG
- N.E. Chemcat Corporation
- Sekisui Chemical Co., Ltd.
- LKAB Minerals AB
- Reedy Chemical Foam & Specialty Additives
- LAMATEK, Inc.
Key questions answered in the Microcellular Plastics Market are:
- What is Microcellular Plastics Market?
- What was the Microcellular Plastics Market size in 2021?
- What is the expected Microcellular Plastics Market size during the forecast period?
- What are the global trends in the Microcellular Plastics Market?
- What are the major restraints for the Microcellular Plastics Market?
- Which segment dominated the Microcellular Plastics Market growth?
- What is the demand pattern for the Microcellular Plastics Market?
- What growth strategies are the players considering to increase their presence in Microcellular Plastics Market?
- What are the upcoming industry applications and trends for the Microcellular Plastics Market?
- Who are the leading companies and what are their portfolios in Microcellular Plastics Market?
- Which region dominates the largest market share in Microcellular Plastics Market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, Organization Size, Application and Industry Vertical
- Market Segmentation – A detailed analysis by Type and End-User
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
Foam Market - The market size is expected to reach USD 137.17 Bn by 2029 at a CAGR of 4.81 percent during the forecast period. The market is expected to be driven by the increase in demand for polyurethane foam in building insulation for energy conservation.
Polymer Foam Market - The market size is expected to reach USD 137.12 Bn by 2029 at a CAGR of 4.7 percent during the forecast period. The market is expected to be driven by polymer applications and subsequent composites are still evolving and expanding rapidly due to their simplicity of manufacture.
Antimicrobial Plastics Market - The market size is expected to reach USD 49.93 Bn by 2029 at a CAGR of 7.8 percent during the forecast period. The market is expected to be driven by rising healthcare costs and a growing population in emerging nations are factors leading to an increased need for hospital and clinic construction.
High-Performance Thermoplastics Market- The market size is expected to reach USD 5.45 Bn by 2029 at a CAGR of 7.4 percent during the forecast period. The market is expected to be driven by the growing demand for high-performance thermoplastic from increased application in interior and exterior aerospace and automotive structures, due to the properties such as high-temperature resistance, high chemical resistance and mechanical properties.
Engineering Plastics Market - The market size is expected to reach USD 173.39 Bn by 2029 at a CAGR of 7.2 percent during the forecast period. The market is expected to be driven by their light weight and excellent strength, polyamides are utilized to replace metal vehicle gear shift modules. Metal replacement is significant in the automobile industry because it allows for lighter vehicles, more design freedom, easier part integration, and lower total system costs.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
