"Binding Intellectual insights for your Business"

Packaging Foams Market Size, Share & Industry Analysis, By Material (Polystyrene, Polyurethane, Polyolefin, and Others), By Type (Flexible and Rigid), By End-use Industry (Automotive, Electrical & Electronics, Building & Construction, Medical, Food & Beverage, Military & Defense, and Others), and Regional Forecast, 2024-2032

Last Updated: September 23, 2024 | Format: PDF | Report ID: FBI109408

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global packaging foams market size was valued at USD 14.24 billion in 2023 and is projected to grow from USD 15.12 billion in 2024 to USD 25.01 billion by 2032, exhibiting a CAGR of 6.50% during the forecast period. Asia Pacific dominated the packaging foam market with a market share of 41.22% in 2023. Moreover, the packaging foam market in the U.S. is projected to grow significantly, reaching an estimated value of USD 3.76 billion by 2032, driven by the increasing use of packaging foams in several end-use industries due to its properties, such as protecting fragile, lightweight products.


Packaging foams are used to cushion and protect goods during storage and shipping. These materials are made of either polystyrene, polyurethane, polyethylene, or expanded polyethylene foam, providing numerous properties to the products during handling. These versatile materials come in a variety of sizes and shapes and are often tailored to a specific use or purpose. The increasing trade among countries and the augmenting use of packaging foams for insulation, cushioning soundproofing, and void filling are contributing to the packaging foams market growth.


The packaging foams market experienced negative growth during the pandemic, as there was a temporary ban on trade activities. Major end-use industries of packaging foams, such as automotive and building and construction, electrical and electronics, food, and beverage, had declining demands. The medical military and defense sectors observed positive and moderate demands, respectively. However, the post-pandemic phase has brought new opportunities to the market due to the surging e-commerce industry.


Packaging Foams Market Trends


Innovation of Sustainable Packaging Foam Products is Trending in the Market


Packaging foam products generally contain air, as they use raw materials, water, and polystyrene from fossil sources or recycle EPS efficiently in production. They are lighter than almost any substitute packaging material and have shock absorption and thermal insulation properties during transit.


As these are lightweight, they reduce the carbon footprint of everything they protect during transport, from fresh fish and groceries to refrigerators. A 2011 life cycle analysis by PricewaterhouseCoopers* found that the use of EPS packaging results in fewer greenhouse gas emissions, pollution, and waste than cardboard and uses three times less water consumption.


Moreover, manufacturers of protective packaging are taking the initiative to develop sustainable foam that has the properties of traditional foam material. The sustainable packaging giant Stora Enso took such an initiative by producing Fibrease® wood foam, which is made of Nordic wood fibers and is a soft material with memory foam-like behavior. It can be used for cushioning and dampening and also as an insulating material for applications such as temperature-controlled packaging.


The major advantage offered by this packaging is that it is recyclable in curbside bins along with the outer corrugated cardboard box in which it is used. The easy recyclability of wood foam is an important advantage for the customer and reduces the need for harder-to-recycle materials.


Request a Free sample to learn more about this report.


Packaging Foams Market Growth Factors


Increasing Demand for EPS in the Electrical Industry is Enhancing the Market's Growth


The consumer electronics industry is experiencing prompt change, with innovative products and technologies launched into the market. This has raised the demand for the Expanded Polystyrene (EPS) material for the packaging of electronic devices. EPS has been identified for its exceptional shock-absorbing properties, making it best suited to safeguard sensitive and delicate electronic components during transit.


EPS is extensively used as a packaging material due to its excellent insulating properties, low cost, and lightweight. As more consumers buy electronic devices such as laptops, smartphones, and accessories, the demand for EPS packaging materials that protect these items during transportation has increased accordingly.


Antistatic foam is the most economical insulator for shielding electrical devices as one of the major threats to electronic components during transportation or storage is the accumulation of static electricity. Such foam is made from a special polystyrene foam blend with certain chemicals to block the conduction of static electricity through the foam. Other than protecting the products from static electricity, antistatic foam directs potential electrical charges away from the packaging, allowing for safe dissipation. Such properties of the EPS will contribute to the growth of the market over the forecast period.


Augmenting Use of Polyurethane in Several End-use Industries is Propelling the Market's Growth


Polyurethane foam is easy to shape and adapt to various types of protective packaging. It can be used as a filling material to fill voids, preventing products from moving during handling. Due to its flexibility, it can absorb shocks and quickly return to its original shape and can also be given antistatic properties. Thus, protective packaging foams minimize and absorb electrical charges to protect electronic products from internal damage during transit. Polyurethane is best suited for protecting fragile, lightweight products due to its softness and resistance to dents and scratches. Additionally, it is low odor and mildew resistant, making it ideal for shipping food or moisture-sensitive products.


The foam is a versatile material making it ideal for various military applications, from body armor to insulation. Polyurethane foam is used to pack and transport sensitive military equipment and supplies. It can conform to the shape of the packaged item, creating a cushioning layer that prevents it from damage during transportation. This is important for sensitive electronic devices and other sensitive items that are at risk of being damaged during transport. Military electronic equipment is always vulnerable to static electricity, which can destroy sensitive components, and therefore requires extreme care when transporting.


Due to its versatility, polyurethane is often used in medical and pharmaceutical applications. Some polyurethanes are biodegradable and harmless and provide outstanding advantages, such as flexibility, durability, and resistance. It is also characterized by its positive biocompatibility, bending resistance, and adaptability to different types of applications, making it suitable for the packaging of medical devices.


The numerous properties offered by polyurethane have made its application in several end-use industries, leading to the growth of this market.


RESTRAINING FACTORS


Ban on the Use of Packaging Foams in the Food & Beverage Industry is Hampering the Market's Growth


Styrofoam or expanded polystyrene foam is a non-biodegradable material. An article published in the Journal of Environmental Sciences states that styrene can have adverse effects on humans in various ways, raising serious public health and safety questions regarding its accumulation in human tissue. Although there is evidence that styrene causes cancer in animals, it has not yet been proven to cause cancer in humans. Therefore, many nations have banned the use of EPS in food and beverage packaging, leading to the restricted growth of the market.


Using polystyrene to package food and beverages is harmful because hot foods and liquids cause the Styrofoam to partially break down, allowing some toxins to be absorbed into the bloodstream and tissues.


Additionally, the non-biodegradable nature of the substance poses a threat to the environment, such as marine pollution and other threats.


Packaging Foams Market Segmentation Analysis


By Material Analysis


Polyurethane’s Antistatic Properties Support the Segment’s Leading Position


Based on material, the market is segmented into polystyrene, polyurethane, polyolefin, and others. Polyurethane holds the largest market share as it is extremely flexible, easy to fabricate and cut, and has wide usage in several end-use industries. It protects the products from scratches, breaks, dents, and other damages during transportation. The growing use of this material in automotive and electrical packaging due to its insulating and antistatic properties is bolstering the growth of this segment.


Polystyrene is the second dominating segment of this market. It is the most suitable packaging material due to its thermal insulating properties and its ability to mold into any shape and size. The segment's growth is also being contributed to by its lightweight and inexpensive nature.


To know how our report can help streamline your business, Speak to Analyst


By Type Analysis


Flexible Foam’s Shock Absorbing Properties Lead to the Segment’s Dominance


Based on type, the market is segmented into flexible and rigid. The flexible type holds the largest packaging foams market share. These foams are less dense, making them highly flexible and elastic, leading to high resilience and shock-absorbing properties. In addition, flexible foams are durable and capable of extending the product life cycle by helping a product maintain its appearance. It has led to a higher demand for packaging foams in the automotive, furniture, footwear, and other industries, thus fueling the segment's growth.


Rigid is the second dominating segment of the market. Solid structures such as plastic and higher density increase the application of such foams in the construction, automotive, and electrical industries, thus accelerating the segment's growth.


End-use Industry Analysis


Automotive Industry Holds the Prominent Position with High Demand for Packaging with Structural Reinforcement Properties


Based on the end-use industry, the market is segmented into automotive, electrical & electronics, building & construction, medical, food & beverage, military & defense, and others. Automotive is the dominating segment of the market. It has a high demand for packaging that offers sound insulation, shock absorption, vibration dampening, and structural reinforcement properties. The packaging foams can fulfill all such requirements, thus making the automotive industry the largest end-user.


Electrical and electronics is the second dominating and fastest-growing end-use industry in this market. The growing disposable income and rising standard of living are driving the accelerating growth of this segment.


REGIONAL INSIGHTS


The market for packaging foams is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.


Asia Pacific Packaging Foams Market Size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


Asia Pacific is the leading and fastest-growing region of this market, fueled by the growing demand for consumer electronics. For instance, emerging nations, such as China and India, have experienced a high demand for electrical devices in the last few years due to the expanding middle class, rising urbanization, and increasing disposable income. An increased number of consumers connected to technology will result in more sales of the products. Thus, the growing demand for electronic products in the region and the presence of the largest manufacturer and exporter country of electronic products is expected to bolster the region's growth during the forecasted period. Europe is the second most dominant region in this market bolstered by the increasing innovation, awareness, and use of green packaging in the region.


North America is experiencing significant growth in the market for packaging foams due to the rising automotive, medical, and military & defense industries. Latin America is anticipated to grow at a moderate rate during the forecasted period. The increasing number of investments in the region, along with the growing infrastructural development, is leading to a high number of constructions in the region, thus boosting the region's growth. The Middle East & Africa will witness steady growth due to the growing demand for the electrical and electronics industry.


List of Key Companies in the Packaging Foams Market


Key Participants in the Market Witnessing Significant Growth Opportunities


The global packaging foams market is highly fragmented and competitive, where few major players dominate by offering innovative packaging. These players are constantly focusing on expanding their customer base and innovation.


Major players in the market include Sealed Air, Smurfit Kappa, UFP Technologies, Inc., Sonoco Products Company, BASF SE, and others. Numerous other companies operating in the industry are focused on delivering advanced packaging solutions.


LIST OF KEY COMPANIES PROFILED:



  • Sealed Air (U.S.)

  • Smurfit Kappa (Ireland)

  • UFP Technologies, Inc. (U.S.)

  • Sonoco Products Company (U.S.)

  • BASF SE (Germany)

  • JSP (Japan)

  • Zotefoams plc (U.K.)

  • Rogers Foam Corporation (U.S.)

  • The Supreme Industries Ltd (India)

  • Atlas Molded Products (U.S.)

  • NEFAB GROUP (Sweden)

  • American Foam Corporation (U.S.)

  • CARPENTER (Germany)

  • Synthos (Poland)

  • KANEKA CORPORATION (Japan)


KEY INDUSTRY DEVELOPMENTS:



  • March 2024 - Seawise Innovative Packaging launched Styrofoam, an alternative form of packaging that is designed to replace extensively used EPS foam. The new packaging is designed to be a cost-effective solution for companies trying to reduce the use of plastics in their supply chain.

  • December 2023 - Woamy launched a bio-foam product for plastic-free packaging in collaboration with Paptic and Secto Design. The new packaging foam products are fully bio-based, plastic-free, biodegradable, and recyclable.

  • September 2022 - Nefab launched WoodFoam Solutions - packaging solutions made from an eco-friendly fiber-based recyclable foam. The product was developed in partnership with the provider of renewable products in packaging, Stora Enso®. The fiber-based and eco-friendly wood foam performs similarly to PU foam. Still, it is recyclable in the paper or paperboard stream and produces four times less carbon dioxide emissions than traditional PU foams.

  • January 2022 - Tekni-Plex Consumer Products announced the expansion of its product portfolio by launching foam polypropylene processor trays for fresh food products such as poultry, meat, pork, fruits, and vegetables. The material is lightweight, durable, heat-resistant, and FDA-approved for direct food contact. Foam polypropylene is also a substitute for common foam polystyrene trays.

  • November 2021 - Stora Enso announced the extension of its packaging portfolio of bio-based foams from wood. The foams can be used to safeguard fragile and delicate products and are ideal for the thermal packaging of temperature-sensitive products.


REPORT COVERAGE


An Infographic Representation of packaging foam market

To get information on various segments, share your queries with us



The market research report provides a detailed market share analysis and focuses on key aspects such as leading companies, competitive landscape, product/service types, Porter’s five forces analysis, and leading end-use industries of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the above factors, the report encompasses several factors that contributed to the market's growth in recent years.


To gain extensive insights into the market, Request for Customization


Report Scope & Segmentation



















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 6.50% from 2024 to 2032



Unit



Value (USD Billion)



Segmentation



By Material



  • Polystyrene

  • Polyurethane

  • Polyolefin

  • Others



By Type



  • Flexible

  • Rigid



By End-use Industry



  • Automotive

  • Electrical & Electronics

  • Building & Construction

  • Medical

  • Food & Beverage

  • Military & Defense

  • Others



By Region



  • North America (By Material, Type, End-use Industry, and Country)

    • U.S. (By Material)

    • Canada (By Material)



  • Europe (By Material, Type, End-use Industry, and Country)

    • Germany (By Material)

    • UK (By Material)

    • France (By Material)

    • Italy (By Material)

    • Spain (By Material)

    • Russia (By Material)

    • Poland (By Material)

    • Romania (By Material)

    • Rest of Europe (By Material)



  • Asia Pacific (By Material, Type, End-use Industry, and Country)

    • China (By Material)

    • India (By Material)

    • Japan (By Material)

    • Australia (By Material)

    • Southeast Asia (By Material)

    • Rest of Asia Pacific (By Material)



  • Latin America (By Material, Type, End-use Industry, and Country)

    • Brazil (By Material)

    • Mexico (By Material)

    • Argentina (By Material)

    • Rest of Latin America (By Material)



  • Middle East & Africa (By Material, Type, End-use Industry, and Country)

    • Saudi Arabia (By Material)

    • UAE (By Material)

    • Oman (By Material)

    • South Africa (By Material)

    • Rest of the Middle East & Africa (By Material)








Frequently Asked Questions

Fortune Business Insights study shows that the packaging foams market stood at USD 14.24 billion in 2023.

The global market is projected to grow at a CAGR of 6.50% in the forecasted period.

The Asia Pacific market size stood at USD 5.87 billion in 2023.

The polyurethane material dominates the market fueled by its antistatic properties.

The global market size is expected to reach USD 25.01 billion by 2032.

The key market drivers are increasing demand for EPS in the electrical industry and augmenting the use of polyurethane in several end-use industries.

The top players in the market are Sealed Air, Smurfit Kappa, UFP Technologies, Inc., Sonoco Products Company, and BASF SE, among others.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts
Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 210
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X