The global market for packaging foams is expanding primarily due to rising demand from the packaging sector. For instance, massive industrial pieces, delicate glassware, electrical and medical diagnostic equipment, and polyurethane foam are all frequently used to carry and protect a variety of products. Additionally, polypropylene foam is used in internal layers of all rigid packaging, including trays, bottles, glasses, etc., to lessen density. In addition, polyethylene foam is another well-liked polymer that finds extensive use in the building and auto industries. The market is growing in part due to the expanding food service industry and the rising use of innovative packaging goods. For instance, in February 2021, London Bio Packaging, a trading division of Bunzl UK Ltd., will collaborate with Infinity to develop a fully recyclable option with a low carbon footprint that can be microwaved and maintain food's heat for a longer period of time. Over the projection period, it is anticipated that rising research and development activities would lead to an increase in bio-based polypropylene launches, creating profitable growth prospects.
According to Coherent Market Insights, The market for Packaging Foams was valued at USD 10279.34 million in 2021, and from 2022 to 2030, it is projected to increase at a compound annual growth rate (CAGR) of 4.56%.
Prominent Companies in the Packaging Foams Industry:
1. Armacell
The company was founded in 2000 and is based in Luxembourg. The business manufactures foam for structural core materials, automotive and industrial gaskets, thermal and acoustic insulation, and sport padding. Armacell purchased Austroflex, a renowned Austrian producer of pre-insulated pipe systems, in October 2022. Armacell purchased the pre-insulated pipe producer IZOLIR in July 2022.
2. Atlas Roofing Corporation
The company was started in 1982 and has its main office in Atlanta, Georgia, United States. Materials for construction are produced and supplied by Atlas Roofing Corporation. The company provides slipsheets, foam facer, insulation, roofing shingles, underlayments, and other associated items. Atlas Roofing Corporation declared in May 2023 that it would construct a $200 million asphalt shingle manufacturing facility in Clinton, Iowa.
3. Borealis AG
The firm was established in 1994 and has its headquarters in Vienna, Austria. Borealis AG provides plastic and chemical solutions. The company sells fertilisers, base chemicals, and polyolefins. Borealis provides services to the global automotive, pipe and fittings, energy, and healthcare sectors. To grow its business across North America, Borealis AG acquired a 50% acquisition of Nova Chemicals in April 2020.
4. Drew Foam
The company was founded in 1964 and is based in Monticello, Arkansas, and United States. The business fabricates and moulds expanded polystyrene. The business sells foam packing, insulation for buildings, and various manufacturing parts. Wynnchurch Capital, L.P. announced in November 2020 that it had purchased Drew Foam Companies, Inc. ("Drew" or the "Company") from the company.
5. Foamcraft Inc.
The business was started in 1952 and is located in Indianapolis. Rubberized fabrics, various rubber specialties, and industrial rubber products are all produced by Foamcraft, Inc. Expanded rubber, adhesives, cross-linked polyethylene, reticulated polyurethane, and polyethylene are among products offered by the company.
6. TotalEnergies
The firm was started in 1924 and has its main office in Courbevoie, France. As an energy corporation, the business refines petrochemical goods in addition to producing, supplying, and transporting crude oil, natural gas, and low-carbon power. Worldwide, TotalEnergies owns and operates petrol stations. TotalEnergies signed a contract in May 2023 to start drilling and exploring for gas this year in the waters near Lebanon, which is currently experiencing a crisis.
7. Sealed Air
The business was started in 1960 and is located in Charlotte, North Carolina, United States. The company Sealed Air Corporation produces packaging, performance-based materials, and machinery for the food, industrial, medical, and consumer markets. Cryovac food packaging and Bubble Wrap cushioning packaging are two of the companies' well-known brands within the Sealed Air Corporation umbrella.
Definition: Excellent packing materials that help shield fragile objects from bumps and vibrations include packaging foams. In comparison to bubble wrap, foam packaging offers superior cushioning while using less space and weight.
