The global foam plastics market size is expected to reach USD 73.88 billion at a revenue CAGR of 4.5% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to high demand in packaging applications as the material enables high level of safety and damage avoidance during transportation along the supply chains.

The report highlights the current impact of COVID-19 on the Foam Plastics market along with the latest economic scenario and changing dynamics of the market. It  analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for Foam Plastics according to the impact of COVID-19.

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The research study presents an industry-wide summary of the Foam Plastics market including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The global Foam Plastics research report is an investigative study of the market that offers key statistical data with regards to market size, market share, revenue growth, and CAGR over the forecast period 2021-2028.

The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.

Leading Players Profiled in the Report:

SABIC, Alchemie Ltd., BASF SE, Hexion Inc., Lanxess AG, Covestro AG, LyondellBasell Industries Holdings BV, Huntsman International LLC, LG Chem Ltd., and Tosoh Corporation.

Foam Plastics Market Segmentation

Emergen Research has segmented the global foam plastics market on the basis of product type, distribution channel, application, and region:

Product Type Outlook (Revenue, USD Billion; 2018–2028)

Polystyrene

Polyethylene

Polyurethane

Phenolic

Polyolefin

Silicone

Polyvinyl Chloride

Others

Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)

Direct

Indirect

Application Outlook (Revenue, USD Billion; 2018–2028)

Packaging

Building & Construction

Automotive

Sports

Footwear

Aerospace

Others

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Some Key Highlights from the Report

In July 2019, Huntington Solution announced acquisition of Texas Foam to increase its production of temperature-sensitive packaging materials for goods sold via e-Commerce channels.

By product type, polystyrene segment accounted for significantly large revenue share in 2020. Polystyrene-based foam plastic material is widely used in packaging and insulation. The material can be used as per requirement of specific applications, owing to its versatile strength. It also has high compressive strength and hence is widely used in heavy load bearing applications. In addition, lower compressive strength materials are extensively used in void forming applications.

By application, building & construction segment accounted for significantly larger revenue share than other application segments in 2020. Foam plastics find extensive use in the building & construction sector for soundproofing and heat insulation, among others. Also, these materials are used as dilatation tapes and placed at vertical obstacles such as walls to provide complete flooring insulation. Foam plastics are appropriate for filling gaps, provide roof flashing, eave sealing, and acts as a barrier against water and oil. In addition, these materials are used in expansion joints and offer noise control solutions for floor joists.

The report analyzes the market based on different categories such as product types, end-user applications, and leading geographical regions. It offers key insights into the factors that are expected to influence the growth of the segments and