Global foam protective packaging market is expected to grow at a compound annual growth rate of 3.44% to reach a market size of US$8,704.218 million by 2024 from US$7,100.501 million in 2018. The increasing requirement for transportation and storage of products owing to the growing e-commerce and logistics industry is expected to drive the market for foam protective packaging. Further, growing demand for electronics due to rising disposable income in various regions is anticipated to fuel the market growth. Additionally, focus on safe packaging of products which are prone to breakage is also expected to be a key factor boosting the foam protective packing market during the forecast period. However, mounting concerns over recycling and reusing of foam is expected to hamper the market growth.
DRIVERS
Rising e-commerce and logistics sector.
Growing electronics industry.
RESTRAINTS
Rising environmental concerns regarding recycling of foam.
The major players profiled in the foam protective packaging market include DRB Packaging, SonocProducts Company, Armstrong Brands Inc., Plastifoam Company, Pregis Corporation, Tucson Container Corp., Volk Packaging Corporation, Rogers Foam Corporation, Wisconsin foam products, UFP Technologies Inc., Total Pack, Sealed Air Corporation.
Segmentation
The foam protective packaging market has been analyzed through the following segments:
By Material Type
Polystyrene
Polystyrene
Polyethylene
Neoprene
Urethane
By Application
Cushioning
Wrapping
Blocking
Void filling
By End Use
Electronics
Pharmaceuticals
Automotive
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others
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