NEW YORK, United States, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Foam Protective Packaging Market By Application (Liners, Anti-Static ESD Foam, Corner & Edge Protectors, Inserts, And Others), By End User (Home & Personal Care, Consumer Electronics, Food & Beverage Industry, Construction Industry, Automobile Industry, And Others), By Product Type (Rigid And Flexible Foam), By Material Type (Polyvinyl Chloride, Polyurethane, Polystyrene, And Others), And By Region: - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030.” in its research database.
“According to the latest research study, the global foam protective packaging market size was worth at around USD 13.48 billion in 2022. The market is expected to grow above a CAGR of 4.77% and is anticipated to reach over USD 19.59 billion by 2030.”
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Foam Protective Packaging Market Overview:
Foam protective packaging refers to the material used to safeguard fragile or delicate items during storage and transport. This type of packaging is intended to provide impact absorption and cushioning, protecting the contents from vibrations and similar external forces. In the consumer goods, aerospace, automotive, pharmaceutical, and electronics industries, this type of packaging is prevalent.
Key Insights from Primary Research
- As per the analysis, the Foam Protective Packaging market share is likely to grow above a CAGR of around 4.77% between 2023 and 2030.
- The Foam Protective Packaging market size was worth around USD 13.48 billion in 2022 and is estimated to hit approximately USD 19.59 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Increase in global trade and export activities is likely to drive the growth of the global foam protective packaging market.
- Based on the application, the liners segment accounts for the largest share of the global market. Based on the end user, consumer electronics is the fastest-growing segment in the global market.
- Based on the product type, the flexible foaming segment is expected to dominate the global market. Based on the material type, the polyurethane segment is expected to swipe the largest share of the global market.
- Based on region, North America is expected to dominate the global market during the forecast period.
Competitive Players:
The report contains qualitative and quantitative research on the global Foam Protective Packaging market, as well as detailed insights and development strategies employed by the leading competitors. Some of the main players in the global Foam Protective Packaging market include;
- American Foam Products
- Engineered Components & Packaging LLC
- Tucson Container Corp.
- Victory Foam
- Synergy Packaging Solutions
- Barco Sales & Manufacturing Inc
- UFP Technologies
- Williams Foam
- Polyformes Foam Solutions
- Suzhou
- INTCO Recycling
- Anu Industries
- Leenol
- PAX Solutions
- Sinkery Foam
- ESD Goods
- Foamtech
- And others.
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Foam Protective Packaging Market: Growth Drivers
- Increased worldwide trade and exports will increase market growth
One of the main factors driving the high growth rate of the global foam protective packaging market is the expansion of international trade and export activities. In order to safeguard their goods during long-distance transport, businesses are adopting dependable and eco-friendly packaging methods. This environment has significantly increased the market demand for foam protective packaging. E-commerce platforms are experiencing a surge, which is contributing to the expansion of the industry. With the rise of online purchasing, the demand for trustworthy and secure packaging solutions has increased significantly.
Restraints
- Cost of raw resources and competition from other packaging materials may limit worldwide market growth
Foam protective packaging industry expansion is likely to be constrained by the high cost of raw materials in comparison to other available options. In addition, the industry encounters competition from other sectors, such as biodegradable or paper-based substitutes, which is anticipated to slow the industry's growth in the coming years.
Foam Protective Packaging Market: Segmentation Analysis/Overview
The global foam protective packaging market can be segmented into application, end user, product type, material type, and region.
By application, the market can be segmented into liners, anti-static ESD foam, corner & edge protectors, inserts, and others. During the forecast period, the liners segment will hold the largest share of the global foam protective packaging market. In 2022, the segment captured approximately 33.7% of the total market revenue.
By end user, the market can be segmented into home & personal care, consumer electronics, food & beverage industry, construction industry, automobile industry, and others. Consumer electronics is the fastest-growing segment in the global foam protective packaging industry.
By product type, the market can be segmented into rigid and flexible foam. The flexible foaming segment is expected to dominate the global foam protective packaging market with about 70% of the total market revenue. By material type, the market can be segmented into polyvinyl chloride, polyurethane, polystyrene, and others. The polyurethane segment is expected to swipe the largest share of the foam protective packaging industry during the forecast period.
Regional Analysis/Dominance/Overview:
- North America is likely to dominate the growth of the global market
North America accounts for the greatest portion of the foam protective packaging market due to the region's expanding commercial activities. The rise of e-commerce platforms has substantially increased the demand for secure and dependable packaging solutions to safeguard items during shipment.
Asia-Pacific is also expected to grow consistently over the forecast period as a result of the region's robust manufacturing and export activities. Numerous manufacturing industries, including consumer products, automotive, and electronics, are located in this region. Therefore, for both domestic and international exports, businesses require the most effective solutions to protect their products during transport.
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 13.48 Billion |
| Market Forecast in 2030 | USD 19.59 Billion |
| Growth Rate | CAGR of 4.77% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | American Foam Products, Engineered Components & Packaging LLC, Tucson Container Corp., Victory Foam, Synergy Packaging Solutions, Barco Sales & Manufacturing Inc, UFP Technologies, Williams Foam, Polyformes Foam Solutions, Suzhou, INTCO Recycling, Anu Industries, Leenol, PAX Solutions, Sinkery Foam, ESD Goods, Foamtech, Vento Foam Pvt. Ltd., Snehal Packaging Industry, Flexipack Group, and Mefron Technologies. |
| Segments Covered | By Application, By End User, By Product Type, By Material Type, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The global foam protective packaging market is segmented as follows:
By Application
- Liners
- Anti-Static ESD Foam
- Corner & Edge Protectors
- Inserts
- Others
By End User
- Home & Personal Care
- Consumer Electronics
- Food & Beverage Industry
- Construction Industry
- Automobile Industry
- Others
By Product Type
- Rigid Foam
- Flexible Foam
By Material Type
- Polyvinyl Chloride
- Polyurethane
- Polystyrene
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key questions answered in this report:
- What is the market size and growth rate forecast for Foam Protective Packaging industry?
- What are the main driving factors propelling the Foam Protective Packaging Market forward?
- What are the leading companies in the Foam Protective Packaging Industry?
- What segments does the Foam Protective Packaging Market cover?
- How can I receive a free copy of the Foam Protective Packaging Market sample report and company profiles?
Key Offerings:
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market
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