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Polyethylene Terephthalate (PET) Foam Market Size (2024 - 2029)

The Polyethylene Terephthalate (PET) Foam Market is anticipated to experience significant growth, driven by increasing demand in sectors such as lightweight vehicles, construction, and packaging. Despite the challenges posed by the COVID-19 pandemic, which disrupted global supply chains and production, the market has shown recovery and expansion. The availability of substitutes may pose challenges to market growth, but opportunities are expected to arise from the wind energy sector and the rising use of recycled PET materials. The Asia-Pacific region is projected to lead the market, with the highest growth rate during the forecast period.

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Market Size of Polyethylene Terephthalate (PET) Foam Industry

Polyethylene Terephthalate (PET) Foam Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 7.53 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Polyethylene Terephthalate (PET) Foam Market Major Players

*Disclaimer: Major Players sorted in no particular order

Polyethylene Terephthalate Foam Market Analysis

The Polyethylene Terephthalate (PET) Foam Market size is expected to grow from USD 491.09 million in 2023 to USD 706.01 million by 2028, at a CAGR of 7.53% during the forecast period (2023-2028).

The market was negatively impacted due to COVID-19. Owing to the pandemic, several countries worldwide went into lockdown to curb the spread of the virus. The shutdown of numerous companies and factories disrupted worldwide supply networks and harmed global production, delivery schedules, and product sales. The PET Foam market currently recovered from the COVID-19 pandemic and is increasing significantly.

  • The major factors driving the studied market's growth are the growing demand for lightweight vehicles, increasing construction activities in Asia-Pacific, and growing demand from the packaging industry.
  • The substitutes' availability of PET foam will likely hinder the market's growth.
  • Potential growth in the wind energy market and the growing trend of using recycled PET materials will likely create opportunities for the market in the coming years.
  • Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Polyethylene Terephthalate Foam Industry Segmentation

Polyethylene Terephthalate (PET) Foams manufacture exterior body parts and casing, housing various automotive parts and other applications. The PET Foam market is segmented by product type, end-user industry, and geography. The market is segmented by product type into low-density PET foam and high-density PET foam. By end-user industry, the market is segmented into building and construction, marine, packaging, transportation, wind energy, and other end-user industries. The report also covers the market size and forecasts for PET foam in 15 countries across major regions. Each segment's market sizing and forecasts are based on revenue (USD million).

Type
Low-Density PET Foam
High-Density PET Foam
End-user Industry
Building and Construction
Marine
Packaging
Transportation
Wind Energy
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Polyethylene Terephthalate (PET) Foam Market Size Summary

The polyethylene terephthalate (PET) foam market is poised for significant growth, driven by increasing demand for lightweight vehicles and expanding construction activities, particularly in the Asia-Pacific region. The market has shown resilience and recovery following the disruptions caused by the COVID-19 pandemic, which had adversely affected global supply chains and production schedules. The automotive industry, in particular, benefits from the use of PET foam due to its properties such as thermal stability and weight reduction, which contribute to improved fuel efficiency. Additionally, the packaging industry is a key contributor to the market's expansion, as the demand for sustainable and efficient packaging solutions continues to rise.

The Asia-Pacific region is expected to lead the market, with China playing a pivotal role due to its robust automotive and construction sectors. The country's focus on fuel economy and emission reduction aligns with the growing use of PET foam in various applications. The region's market growth is further supported by the increasing adoption of electric vehicles and the potential expansion in the wind energy sector. Despite the availability of substitutes, the market is likely to find opportunities in the use of recycled PET materials, aligning with global sustainability trends. The market landscape is partially consolidated, with key players such as Carbon-Core Corp., Armacell, and Gurit Services AG driving innovation and competition.

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Polyethylene Terephthalate (PET) Foam Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand of Lightweight Vehicles

      2. 1.1.2 Increasing Construction Activities in Asia-Pacific

      3. 1.1.3 Increasing Demand from the Packaging Industry

    2. 1.2 Restraints

      1. 1.2.1 Availability of Substitutes for PET Foam

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Low-Density PET Foam

      2. 2.1.2 High-Density PET Foam

    2. 2.2 End-user Industry

      1. 2.2.1 Building and Construction

      2. 2.2.2 Marine

      3. 2.2.3 Packaging

      4. 2.2.4 Transportation

      5. 2.2.5 Wind Energy

      6. 2.2.6 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Polyethylene Terephthalate (PET) Foam Market Size FAQs

The Polyethylene Terephthalate (PET) Foam Market is projected to register a CAGR of 7.53% during the forecast period (2024-2029)

Carbon-Core Corp., Armacell, Gurit Services AG, Diab Group and CoreLite are the major companies operating in the Polyethylene Terephthalate (PET) Foam Market.

Polyethylene Terephthalate (PET) Foam Market Report Snapshots

Polyethylene Terephthalate (PET) Foam Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)