PET Foam Market- Forecast to 2020
PET Foam Market size in terms of value is projected to reach $225.44 Million by 2020, signifying a firm CAGR of 8.1% between 2015 and 2020.
Browse 87 market data Tables and 59 Figures spread through 130 Pages and in-depth TOC on "PET Foam Market".
In the Asia-Pacific and other developing regions such as Middle East & Africa, and RoW the demand for PET foams is increasing due to new projects in wind energy, transportation, and other industries and environmental rules & regulations to increase the use of natural source for the production of energy. The increasing purchasing power in developing countries, economic growth, support by respective governments, and need for high performance products may add to the greater demand in the future.
The wind energy industry offers many opportunities for PET foam and holds a promising market potential in the coming future. The properties of PET foam such as FST (fire, smoke, and toxicity) properties, complete recyclability, resistance to water absorption, resistance to corrosion and temperature & chemical resistance, under various conditions are expected to be the key influencing factors for the PET foam market with an increased emphasis on its different applications.
The wind energy application accounted for the major share of the total PET foam market in 2014. The wind energy, transportation, marine, packaging, and building & construction applications are projected to be growing applications in the market. The drivers of the PET foam industry include recovery in the marine market, promising wind energy market, and growing penetration in the end-user industries due to increase in demand for energy and other products from the increasing population along with their purchasing ability in emerging countries such as China, India, and Brazil. Market data for all the applications of PET foam is given in the study with respect to volume as well as value. The data is based on the demand for all the application. Asia-Pacific accounted for the largest share of the market.
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Currently, Asia-Pacific is the largest PET foam market which is estimated to register the highest CAGR. Countries such as China and India are projected to lead the market in Asia-Pacific, with China accounting for the largest share in terms of volume. The market size by volume of PET foams is comparatively low in the Middle East & African and RoW regions, but the estimated growth for the regions is second- and third-highest after Asia-Pacific, respectively. Asia-Pacific, Europe, and North America are the most active markets in terms of strategic initiatives, owing to their market demands.
The important PET foams manufacturers include Armacell International S.A. (Luxembourg), 3A Composites (Switzerland), Gurit Holding (Switzerland), DIAB Group (Sweden), BASF SE (Germany), Changzhou Tiansheng New Materials Co. Ltd. (China), Sekisui Plastics (Japan), Petro Polymer Shargh (Iran), Carbon-Core Corp. (U.S.), and other regional players.
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