Foam Protective Packaging Market Size, Share and COVID-19 Impact Analysis By Material (Polyurethane (PU), Polystyrene (PS), Polyvinyl Chloride (PVC), and Polyethylene (PE)), By Packaging Type (Flexible Foam and Rigid Foam), By End User Industry (Food & Beverage, Pharmaceutical, Aerospace & Defence, Electronics, Automotive, Household, Personal Care & Cosmetic, and Others) and Regional Forecast, 2024-2032

Foam protective packaging is widely used to protect and transport products in various industries. The rising popularity of e-commerce and surging demand for lightweight packs will likely increase market growth. The rising adoption of foam packaging protecting sensitive and fragile products such as pharmaceuticals and electronics is spurring the growth of foam-protective packaging. The rapid technological development in product packaging is expected to fuel market growth because factors such as corrosion resistance, shock resistance, and anti-static packaging foams are widely used in various end-use industries. The increasing digitalization has involved online shopping, increasing the growth of foam packaging as it is thin and light in weight.

• For instance, on June 2022, Armacall expanded its industrial footprint in EMEA, as the company acquired the decommissioned plant of Knauf Ceiling Solutions GmbH & Co. KG in Münster, Germany.

The import and export business worldwide supports the growth of foam protective packaging. Flexible and rigid foam is extensively used for protecting medical, electronic, and automotive components during the long shipment, boosting the foam protective packaging market.

The instability in raw material prices might affect the product cost structure, which can be a major market restraint for the foam protective packaging market. Moreover, plastic waste harms the environment as many are non-biodegradable, and stringent government regulations towards plastic use will restrain the market growth.

IMPACT OF COVID-19 ON THE FOAM PROTECTIVE PACKAGING MARKET

The market witnessed recovery with the increasing e-commerce sector as consumer ordering electronics, food & beverages, and household and personal care products boosted the foam packaging market. However, the global players have developed innovative launches, technology, and upliftment in the later period, which is improved the growth of the global foam protective packaging market.

KEY INSIGHTS

The report will cover the following key insights:

• Recent Advancements in the Foam Protective Packaging Market


• Key Industry Trends


• Regulatory Landscape for the Foam Protective Packaging Market


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

ANALYSIS BY MATERIAL

Based on the materials, the market is segmented into polyurethane (PU), polystyrene (PS), polyvinyl chloride (PVC), and polyethylene (PE). Polyurethane holds the largest market share in the global foam protective packaging market. The polyurethane material possesses features such as high abrasion resistance, lightweight and eco-friendly nature, and is easily modified for various applications. The other segments, such as polystyrene, polyvinyl chloride, and polyethylene, are significantly driving the market.

ANALYSIS BY PACKAGING TYPE

Based on the packaging type, the market is segmented into flexible foam and rigid foam. The flexible foam holds the largest market share in the global foam protective packaging market due to the adoption of flexible foam to protect sensitive products spurring the market's growth. Flexible foam is extremely lightweight, which helps in reducing emissions in transport applications. The rigid foam segment is also boosting the market.

ANALYSIS BY END-USE INDUSTRY

Based on the end-use industry, the market is segmented into food & beverage, pharmaceutical, aerospace & defense, electronics, automotive, household, personal care & cosmetic, and others. Automotive holds the largest market share in the global foam protective packaging market due to protecting automotive products during handling and transportation activities. Growth in automotive production will continue to fuel the market. The other segments are also contributing to the growth of the foam protective packaging market.

REGIONAL ANALYSIS

The global foam protective packaging market has been studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the leading region of the global foam protective packaging market due to the continuous advancement in technology and thriving economy that have fuelled the market growth. Expanding food and beverage industry and rising penetration of online shopping are factors increasing the market in this region. In North America, the market is driven by the rising focus on sustainability and the presence of leading packaging giants. Europe is expected to grow moderately due to the increased emphasis on product quality and expansion in end-user verticals, including food & beverages, personal care & cosmetics, and other industries. Latin America is expected to have stable growth due to the improving middle class and urbanization, which will create opportunities for the market in this region.

KEY PLAYERS COVERED

The report will include profiles of key players such as Armacell, JSP, Zotefoams, Sealed Air Corporation, Synthos, Rogers Foam Corporation, Kaneka Corporation, Arkema, FoamPartner Switzerland AG, and Pregis, among others.

SEGMENTATION

KEY INDUSTRY DEVELOPMENTS

• February 2023: Cruz Foam launched earth-friendly packaging products for consumers and businesses. Cruz Foam redefines consumer packaging, solving customers' needs with exceptional sustainability.


• January 2022: Armacell acquired the engineering business of SpiderPlus & Co. Ltd. The acquisition offered future expansion and new business opportunities and improved Armacell's ability to serve Japanese customers.


• August 2022: Zotefoams launched Ecozote, a range of closed-cell crosslinked foams specifically designed for product sustainability with 30% recycled content LDPE grade.


• December 2022: Engineered Foam Packaging acquired North Carolina-based NatureKool. The acquisition will help ESP to offer a comprehensive range of high-quality and repeatable cold chain packaging solutions to the US market and increase its geographical presence.


• September 2022: Polymer Protective Packaging, Inc. acquired DBR Industries. The acquisition of the companies is a good match that will bring value to collective clients. Both companies have similar product offerings in protective food packaging