Global PET Foam Market Set to Reach $503 Million by 2027| MarketsandMarkets™

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Global PET Foam Market Set to Reach $503 Million by 2027| MarketsandMarkets™

November 17
19:24 2023
Global PET Foam Market Set to Reach $503 Million by 2027| MarketsandMarkets™
Browse 176 market data Tables and 38 Figures spread through 174 Pages and in-depth TOC on “PET Foam Market”
PET Foam Market by Raw Material (Virgin PET and Recycled PET), Grade (Low-density and High-density), Application (Wind Energy, Transportation, Marine, Building & Construction, Packaging) and Region

PET foam, short for Polyethylene Terephthalate foam, is a lightweight and adaptable material with a closed-cell structure created from the polymerization of PET resin. PET foam is well-known for its great mix of strength, stiffness, and impact resistance, making it appropriate for a wide range of applications in industries such as transportation, maritime, wind energy, and construction.

The PET foam market is projected to grow from USD 361 million in 2022 to USD 503 million by 2027, at a CAGR of 6.9% from 2022 to 2027, owing to increasing demand from the wind energy and marine industry.

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Armacell International SA (Luxembourg), 3A Composites (Switzerland), Gurit Holding (Switzerland), DIAB Group (Sweden), Changzhou Tiansheng New Materials Co. Ltd (China), Sekisui Plastics (Japan), Petro Polymer Shargh (Iran), and Carbon-Core Corp. (US) are some of the key players operating in the PET foam market. These players have adopted strategies such as agreements, partnerships & joint ventures, new product & technology launches, and expansions to enhance their business revenue and market share. Expansion of manufacturing plants and offices globally is the key strategy adopted by these players to cater to the increasing demand for PET foam.

Diab Group (Ratos AB) is one of the major players in the global PET foam market. The company develops, manufactures, and sells core materials for sandwich composite structures. In October  2021, in the Mundra plant, SKAPS – Diab started production of pet foam. SKAPS manufactures Diabs Divinycell pet range of products in response to the rising demand for pet core materials from the wind energy sector in India. The material has been designed to meet blade designs with the goal of lowering wind blade production costs. It provides high shear strain and optimal resin uptake.

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Another important player in the global PET foam market is Armacell International S.A. In February 2021, Armacell International S.A. launched the ArmaPET brand family. The company’s innovative and environment-friendly PET-based foam products are expected to be now offered under the ArmaPET family name. The new brand has four sub-brands, namely, ArmaPET Struct, ArmaPET Eco, ArmaPET Curve, and ArmaPET Shape.

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