PET Foam Market
PET foam market is expected to grow from USD 175.38 million in 2019 to USD 335.96 million by 2027, at a Compound Annual Growth Rate (CAGR) of 11.44%.
PET foam is a type of foam core and the newest structural core materials in the composite industry. Polyethylene terephthalate (PET) is a thermoplastic polymer resin of the polyester family, used in the manufacturing of PET foam. PET foam is unique core material as it is lightweight, 100% recyclable and sustainable, thermoformable, high temperature resistant, and has good Flame, Smoke & Toxicity (FST) properties.
Due to its high sustainability and high mechanical properties, PET foam is steadily substituting traditional core materials such as PVC, Balsa, SAN and others. PET foam is used in various end-use industries such as wind energy, transportation, marine, packaging, building and construction, and other applications.
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The market for PET foam has grown significantly in past few years, owing to increasing demand from end-use industries, as a potential substitute for PVC, Balsa, SAN and other core materials. Major driving factors include high demand from wind energy industry, and growing adoption of recyclable and sustainable core materials. Also, increasing adoption in various end-use industries such as packaging, building and construction would offer more opportunities in this market. However, availability of substitute for PET foam could pose as a major challenge in this market.
Drivers: Increasing Demand for Structurally-Sound Core Materials for Wind Energy Applications
Governments across the globe are actively looking for ways to diverse the energy mix and to protect the world economy from concerns related to highly depleting natural resources. Many countries around the world are making efforts to restructure their energy infrastructures, to increase the use of renewable sources for energy production. With an increase in initiatives taken by the governments, energy experts and environment agencies, wind energy industry is gaining momentum.
Opportunities: Increasing Demand From Packaging, Building & Construction Applications
The emergence of PET foam has taken the core materials to a new dimension. PET is majorly used as a primary material for all beverages and water bottles. PET foam is of huge demand for packaging, building and construction applications. It is suitable for food packaging, and bakery containers, as it can retain its shape at high temperatures without losing flexural stiffness.
Key Market Players:
The leading players of the global PET Foam market include Armacell International, DIAB Group, Gurit Holding, 3A Composites, Sekisui Plastics. Co. Ltd, Carbon Core Corporation and Others.
The scope of this study covers analysis of PET foam by grades such as low-density PET foam and high-density PET foam and their market adoption across various applications and region. The report also covers analysis of application industries such as wind energy, transportation, marine, packaging, building and construction, where PET foam is widely used. The regional analysis includes PET foam adoption across North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA) and Latin America.
• Low-Density PET Foam
• High-Density PET Foam
• Wind Energy
• North America
• Latin America
• Asia Pacific
• Middle East & Africa
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