Protective packaging has been gaining importance as preferred form of packaging to eliminate cases of physical damage at the time of shipping
With growth in packaging sector and advent of emerging and innovative technologies, companies in the foam protective packaging market are making a mark for themselves
ALBANY, New York, Feb. 11, 2020 /PRNewswire/ -- A recent research published by Transparency Market Research states that the global foam protective packaging market is on course to achieve a stellar valuation by the fall of the given forecast period. The research report expects the foam protective packaging market to exhibit a moderate CAGR of 3.2% during the forecast period that ranges from 2017 to 2026. With this rate of growth, the global market is expected to reach a valuation worth US$5.3 bn by 2026-end. The report provides an in-depth analysis of all the factors – driving as well as restraining – that are shaping the development of the global market.
"In recent years, protective packaging has gained immense importance for playing a vital role in minimizing the cases of physical damages to goods at the time of shipping. Foam protective packaging is being widely used for providing superior level of cover to these shipped goods of broad range of variety. Such wide ranging use of foam protective packaging is expected to pave the way for robust growth of the market in near future", observes TMR analyst.
Key Findings in the Research Report:
The global foam protective packaging market is segmented in terms of type of material, end-use industry, application, and region.
Based on type of material, the global market is further segmented into neoprene, polyethylene, polypropylene, and urethane. Of these, the segment of urethane materials is expected to remain dominant over the course of the given assessment period. The preference for these materials is high due to their ability to adapt to custom specifications and changes in terms of design. Moreover, these materials are quite flexible in providing advanced cushioning functionalities. In 2017, the segment accounted for more than US$1.6 bn in worldwide revenues.
The research report expects the e-commerce industry will emerge as the largest end-user industry in the near future. By the fall of the forecast period in 2026, the e-commerce segment will account for over one-fourth of the overall share of the global foam protective packaging market.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Foam Protective Packaging Market by Material Type - Urethane, Polystyrene, Polypropylene, Polyethylene, and Neoprene; End-use Industry - Pharmaceutical & Medical Devices, Electronics and Appliances, Automotive and Auto Components, Consumer Product Manufacturing, E-Commerce, and Other Industrial Goods; Application - Wrapping, Void Fill, Cushioning, Blocking and Bracing, and Insulation at https://www.transparencymarketresearch.com/foam-protective-packaging-market.html
Global Foam Protective Packaging Market – Key Driving Factors
One of the biggest driving factor for the growth of the global foam protective packaging market is growing demand for these packaging from its prominent end-use application industry.
In recent years, there has been a tremendous growth of the packaging industry as a whole, which has played a key role in shaping the development of the foam protective packaging market. With increasing demand from the e-commerce sector for eliminating physical damage to shipped goods has emerged as a top trend in the global market.
In addition to this, with latest advancements and innovations in the packaging technologies, the foam protective packaging market is expected to achieve a considerable growth in the foreseeable future.
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Global Foam Protective Packaging Market – Key Restraining Factors
One of the biggest challenges faced by the leading companies in the global foam protective packaging market is increasing ban on these foam particles across several regions in the world. This ban will ultimately lead to complexities in the procurement of raw materials for future production, leading to slowdown of the market growth.
With increasing onus on sustainability and recycling & reuse of foam materials, companies are experiencing a great spike in their operational costs. This has affected their profit margins and thus ultimately becoming a restraining factor for market development.
View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/38327
Global Foam Protective Packaging Market – Geographical Outlook
There are six key regions of the global foam protective packaging market namely Asia Pacific excluding Japan, Japan, North America, Europe, Latin America, and the Middle East and Africa.
Of these, the global market is expected to be dominated by the regional segment of Asia Pacific excluding Japan. Increasing demand from emerging economies such as India, China, and Indonesia are expected to act as vital drivers for fueling growth of the regional market.
By 2026, the Asia Pacific excluding Japan segment is expected to attain a valuation worth US$2 Bn. This will account for around one third of the overall market share.
Analyze foam protective packaging market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Global Foam Protective Packaging Market – Competitive Analysis
The vendor landscape of the global foam protective packaging market is quite fragmented in nature. This fragmentation is because of the presence of several players operating in the market space. The companies are expected to concentrate on developing innovative packaging technologies to cater to the evolving demands of the end-users. Moreover, the companies are also expected to resort to inorganic marketing strategies such as mergers, strategic alliances, partnerships, and acquisitions in order to stay ahead of the competitive curve.
Some of the key brands in the global market are Sonoco Products Company, Plastifoam Company, Pregis Corporation, Sealed Air Corporation, DRB Packaging, Volk Packaging Corporation, Wisconsin Foam Products, Rogers Foam Corporation, Tucson Container Corporation, and Armstrong Brands, Inc.
Foam Protective Packaging Market Segmentation is as follows:
By Material Type
By End-use Industry
Explore Transparency Market Research's award-winning coverage of the Global Packaging Industry:
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Protective Packaging Market – The global market may have risen steadily over the years and is anticipated to maintain the momentum in the near term as well. Protective packaging offers protection to the products from damage during warehousing or transportation.
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SOURCE Transparency Market Research