Market Challenges: Volatility in raw material prices

Volatility in the prices of raw materials used for manufacturing packaging foams has emerged as a major challenge restraining the growth of the global packaging foams market. Packaging foams such as polyurethane (PU), polystyrene (PS), polyethylene (PE), polypropylene (PP) foams largely depend upon hydrocarbon based raw materials for their production. However, crude oil and natural gas which are primary feedstocks for these raw materials have experienced significant price fluctuations in recent times.

Market Opportunities: Development of bio-based and biodegradable foams

The development of bio-based and biodegradable foams present a significant opportunity in the global packaging foams market. With the growing concerns regarding environment protection and sustainability, packaging manufacturers are under increasing pressure to reduce their reliance on petroleum-based and non-biodegradable materials. Bio-based and biodegradable foams made from renewable plant-based resources such as cornstarch, cellulose or vegetable oils offer an eco-friendly alternative to traditional petroleum-derived foams like polystyrene and polyurethane which take centuries to break down.

Packaging Foams Market Report Snapshots