Global Microcellular Plastics Market Research Report Information: By Application (Building & Construction, Automotive & Transportation, Healthcare, Electrical & Electronics, Food Packaging, And Others) Region – Forecast Till 2023
Microcellular Plastics Market Definition:
Microcellular Plastics belongs to a class of thermoplastic polymers that are characterized by a large number of cell densities almost in billions per cm3 of tiny bubbles. Their processing method has an advantage over conventional foam processes as it uses an inert gas such as carbon dioxide and nitrogen to create cells with evenly distributed and uniformly sized microscopic cells rather than chlorofluorocarbons, hydrocarbons, and other toxic chemical blowing agent. They possess excellent properties such as high strength to weight ratio, impact strength, durability, fatigue life, thermal stability, thermal & acoustical insulation performance, dielectric strength, and other optical properties. With all the above-mentioned properties these are widely used in various ends use application such as electrical & electronics, healthcare, building & construction, automotive & transportation, food packaging, and others.
As per the analysis, some of the noticeable market factors and trends identified in the global Microcellular Plastics market include rising urbanization, increasing building & construction activities, and continuous growth of automotive & transportation sector. Furthermore, growing number of working professionals in emerging economies along with increasing consumption of packaged food items has increased the plastic consumption in packaging industry which in turn is estimated to drive the growth of the market over the assessment period during 2017-2023.
Moreover, Microcellular Plastics are recyclable as compared to conventional plastics and have high adoption rate in various end-use industries, which are likely to fuel the growth of the market. Moreover, increasing demand for the lightweight automotive vehicle along with increased usage of Microcellular Plastics in the manufacturing of vehicle parts is estimated to drive the demand over the forecast period. Increasing commercial, residential, and institutional construction activities in developing countries is estimated to propel the growth of the market over the assessment period. Moreover, rising usage of Microcellular Plastics plastic in the electronics industry and continuous expansion of healthcare sector is predicted to fuel the growth of the market over the forecast period.
Microcellular Industry Key Players:BASF SE (Germany), Horizon Plastics International Inc. (Canada), Gracious Living Innovations (Canada), Armacell Canada Inc. (Canada), Ingenia Polymers Corp. (U.S.), Total Plastics Solutions (U.S.), Lavergne Group (Canada), Sealed Air (U.S.), Trexel, Inc. (U.S.), and Griswold Corporation (U.S.).
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Microcellular Market Regional Analysis:
The global Microcellular Plastics market consists of five regions: Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa. The Asia Pacific region is predicted to grow at the highest CAGR over the assessment period owing to the continuous expansion of numerous end-use industries such as electrical & electronics, building & construction, and automotive & transportation among others. The demand for Microcellular Plastics is expected to surge in several countries of Asia Pacific such as the Philippines, Australia, Taiwan, South Korea, China, India, Japan, Thailand, Malaysia, Bangladesh, and Vietnam on account of rising production and sales of automotive vehicle coupled with strong manufacturing base for electrical & electronics sector. Furthermore, inexpensive labor and land cost, growing purchasing power, low production set up cost, and moderately stringent regulatory framework are some of the prominent factors for the regional market growth.
Europe emerged as the largest market for Microcellular Plastics in 2016 followed by the Asia Pacific and North America. North America is estimated to witness steady growth in Microcellular Plastics market due to the recovery of industrial sector along with rising expenditure on renovation & maintenance of construction sector over the estimated period. The U.S. and Canada are among the leading contributors in North American regional market growth and is estimated to witness moderate growth due to increasing usage in food packaging and continuous growth of healthcare sector. In Europe, countries such as Germany, UK, Italy, France, and Russia are among the leading contributors in the regional market growth due to the strong presence of automotive manufacturers along with increasing investment in R&D and innovation activities in this field
Microcellular Plastics Segmentation:
The global Microcellular Plastics market is categorized on the basis of application and region. On the basis of the application, the market is classified into building & construction, automotive & transportation, healthcare, electrical & electronics, food packaging, and others. On the basis of the regions, Microcellular Plastics market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa.
Microcellular Plastics manufacturers
Traders and Distributors of Microcellular Plastics
Production Process Industries
Raw Material Suppliers
Full report on Microcellular Plastics Market report spread across 137 pages, profiling 15 companies and supported with tables and figures available : https://www.marketresearchfuture.com/reports/Microcellular Plastics-plastics-market-5579