Pet Foam Market Report

Pet Foam Market Report

Pet Foam Market Report
Report code - SR3491 Delivery - 2 Weeks
PET Foam Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity See more...

Market Insights

“The PET foam market value was US$ 563 Billion in 2024 and is likely to grow at CAGR of 7.3% in the long run to reach US$ 859.2 Billion in 2030”.

Market Dynamics

Introduction

Polyethylene Terephthalate (PET) foam is a very lightweight, high-performance foam that finds use as a core material in toughened composite structures. Being a thermoplastic polyester, PET foam contains good mechanical properties such as high strength to weight, good impact strength, and heat stability. It is also highly versatile, easily processable, recyclable, and compatible with almost any form of resin making the material ideal for use in modern and sustainable industries. Closed foam cell structure makes it abrasion, water, and chemical-proof; thus, essential for use in severe conditions. PET foam is used in the wind energy, marine, transport, building, construction, and packaging industries where performance and sustainability are paramount. This paper aims to explore demand and innovation in the preferred material, PET foam, and how this has adapted and become a prevalent choice as industries push for sustainable materials.

Recent Product Development:

  • In July 2022, Gurit Holdings started a new venture by launching a manufacturing facility known as Gurit Wind Pvt. Ltd in Chennai India through which they develop composite material, core kitting, tooling, and manufacturing solutions for the wind industry in addition to improving on the PET foam production.
  • In April 2022, another great achievement made by Armacell was the recycling of 2 billion plastic bottles into their ArmaPET foam products, which reflects the company’s policies in the sphere of sustainability and continuous development of PET foam technologies.

Segments Analysis

Segmentations

List of Sub-Segments

Segments with High Growth Opportunity

Raw Material Analysis

Virgin PET and Recycled PET.

Virgin PET is said to be dominating Raw Material in the market for PET foam market.

Grade Analysis

Low-density and High-density.

High-density is said to be the dominating Grade of the market for PET foam market.

End-Use Industry Analysis

Wind Energy, Transportation, Marine, Building & Construction, Packaging, and Others (Industrial, healthcare, and sporting goods).

Wind Energy is said to be dominating End Use Industry of the market for PET foam market.

Region Analysis

Asia-Pacific, Europe, North America, and The Rest of the World.

Asia-Pacific is the largest and the fastest region for the PET foam market.

By Raw Material Type

Virgin PET is said to be dominating Raw Materials of the market during the forecast period.

  • The market is segmented into Virgin PET and Recycled PET.
  • Virgin PET has better mechanical characteristics and coarser cell structure compared with other foam PETs as well as better reliability in high-performance applications. Due to its superior intrinsic properties such as a high strength-to-weight ratio and good thermal stability, it finds suitability for use in rigorously demanding applications like the wind energy industry, automobile, and marine segmentation. Moreover, virgin PET has excellent processability, which means that has a high level of quality in the final product which is very important for producers.
  • Virgin PET has the benefit of being very uniform and with a much higher quality than other used materials, which are not suitable for applications where performance cannot be lowered. PET foam is compatible with a large number of resins which consolidates its position as the most popular raw material in this industry.

By Grade Type

High-density is said to be dominating by Grade of the market during the forecast period”.

  • The market is segmented into Low-density and High-density.
  • High-density PET foam has continuously increased its market share due to its superior mechanical properties such as high strength, stiffness, and durability in structural application. Other industries like wind energy, transportation, mechanical manufacturing, and many others use high-density foam for components like turbine blades, vehicle structures, and other mechanical parts that are exposed to high mechanical load and other harsh conditions. This grade provides long-term reliability and hence cannot be replaced in these industries.
  • The multifaceted characteristic of being lightweight whilst offering mechanical properties to the structures in which it is integrated further marks the position of high-density PET foam as the market leader. Successfully utilized in critical applications, it emphasizes the stronghold and increasing necessity in the PET foam market.

By End Use Industry Type

Automotive is said to be dominating by End Use Industry of the market during the forecast period.

  • The market is segmented into Wind Energy, Transportation, Marine, Building & Construction, Packaging, and Others (Industrial, healthcare, and sporting goods).
  • The PET foam market is dominated by the wind energy industry because of the material’s importance in the production of wind turbine blades. The lightweight nature, high mechanical strength, and recyclability that are inherent to PET foam make it ideal for the fabrication of large blades. In addition, the transition to the use of renewable energy sources has boosted the use of PET foam in this market domain, consequently strengthening its position.
  • Due to its ability to provide the necessary support and strength while cutting on the overall weight of the structural part, PET foam stands as one of the most desired material choices for wind turbine manufacturing businesses. This appropriateness for renewable energy projects makes it the leading end-use industry in the PET foam market.

Regional Analysis

Asia-Pacific is the largest and the fastest region for PET foam market during the forecast period”.

  • Asia-Pacific presently, holds the largest and the highest CAGR for the PET foam market owing to factors such as availability of a robust manufacturing industry, relatively lower costs of manufacture as well as a growing infrastructure. This region has large wind turbine manufacturers and composite manufacturers, and the demands for PET foam on wind energy and other segments are other factors. For example, China and India are well on their way to investing in renewable power generation through efficient and reliable technology, and PET foam plays a key part in the development of wind turbines.
  • The emphasis on industrial development in the area combined with the growing trend toward governmental actions in support of sustainable developments has boosted the necessity for PET foam in transportation, marine, and construction uses. Moreover, the availability of cheap resources and strengthening export capacity have ensured Asia-Pacific market dominance in the PET foam market.

Key Players

The market is partially fragmented across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the PET foam market:

Here is the list of the Top Players (Based on Dominance)

  • Armacell International SA
  • 3A Composites
  • Gurit Holding
  • DIAB Group
  • Changzhou Tiansheng New Materials Co. Ltd
  • Sekisui Plastics
  • Petro Polymer Shargh
  • Carbon-Core Corp.

Note: The above list does not necessarily include all the top players of the market.

Are you the leading player in this market? We would love to include your name. Write to us at [email protected]

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis.
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
  • Market trend and forecast analysis.
  • Market segment trend and forecast.
  • Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
  • COVID-19 impact and its recovery curve.
  • Attractive market segments and associated growth opportunities.
  • Emerging trends.
  • Strategic growth opportunities for the existing and new players.
  • Key success factors.

The global PET foam market is segmented into the following categories. 

PET Foam Market, by Raw Material Type

  • Virgin PET (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Recycled PET (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)

PET Foam Market, by Grade Type

  • Low-density (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • High-density (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)

PET Foam Market, by End Use Industry Type

  • Wind Energy (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Marine (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Building & Construction (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Packaging (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Others (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
    • Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
    • Healthcare (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
    • Sporting goods (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)

PET Foam Market, by Region

  • North America (Country Analysis: The USA, Canada, and Mexico)
  • Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
  • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
  • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

  • This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s PET foam market realities and future market possibilities for the forecast period. 
  • The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
  • The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
  • This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
  • More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
  • We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to three players)
  • SWOT analysis of key players (up to three players)

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across industries. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]

PET foam is an extremely light, rigid structure foam that is produced from polyethylene terephthalate material. Among these, perhaps the most well-known are its superior strength/weight ratio, thermal stability, and resistance to chemicals. Such characteristics make PET foam suitable for application in the wind energy, automobile, construction fabricating industries as well as packaging. Moreover, it is reusable, and its use complies with the principles of the latest sustainable materials.

The forecasted value of the PET Foam market is expected to reach US$ 859.2 Billion by 2030.

The PET foam market is estimated to grow at a CAGR of 7.3% by 2030, due in large part to the demand from the wind energy industry in the form of blades for wind turbines. The increasing need for lightweight and high-strength materials especially in automotive applications and the construction industry also aids expansion. Environmental conservation is also considered an important influence due to sustainability and recyclable façade. Further, government incentives toward renewable sources of energy are also a driver of market growth.

The main market driver is because of its high strength-to-weight ratio. The introduction of the product in more uses especially in the construction and the automotive industries since the material is cheap and durable also drives the growth. Less reliance on non-biodegradable, toxic, and hazardous raw materials helps to boost the market’s growth in the long run. More investment in renewable energy structures also boosts growth even further.

Asia-Pacific is the largest growing region in the PET foam market due to APAC’s industrialization and wind energy production. Players from China and India are contributing to the production thanks to their ambitious goals to increase the share of renewable energy. Lightweight materials like PET foam are also required in the automotive as well as construction industries to some extent in APAC.

Asia-Pacific is the highest-growing region in the PET foam market thanks to rising investments in renewable energy projects. Rising population and the expansion of fast urbanization and industrial development in regions such as China, India, and SEA increase demand. Furthermore, the increasing move to lighter materials used in automobiles due to the efficiency needs of the industry adds to the trend.

Armacell International SA, 3A Composites, Gurit Holding, DIAB Group, Changzhou Tiansheng New Materials Co. Ltd, Sekisui Plastics, Petro Polymer Shargh, Carbon-Core Corp. are the leading players in the PET foam market based on dominance.

Virgin PET is the leading segment by raw material of the market due to its higher mechanical and thermal characteristics. Its application includes the use in situations requiring high performance like wind turbine blades and automobile parts. The material is preferred to recycled options given its recyclability and quality of the product.