Microcellular Plastics Market Research Report- Forecast to 2030

Microcellular Plastics Market Research Report Information: By Application (Building & Construction, Automotive & Transportation, Healthcare, Electrical & Electronics, Food Packaging, And Others) Region – Forecast Till 2030

ID: MRFR/CnM/4130-HCR | February 2021 | Region: Global | 137 pages

Microcellular Plastics Market Speak to Analyst Request a Free Sample

Synopsis of microcellular plastics Market


Microcellular plastics belongs to a class of thermoplastic polymers that are characterized by a large number of cell densities almost in billions per cm3 of tiny bubbles. Their processing method has an advantage over conventional foam processes as it uses an inert gas such as carbon dioxide and nitrogen to create cells with evenly distributed and uniformly sized microscopic cells rather than chlorofluorocarbons, hydrocarbons, and other toxic chemical blowing agent. They possess excellent properties such as high strength to weight ratio, impact strength, durability, fatigue life, thermal stability, thermal & acoustical insulation performance, dielectric strength, and other optical properties. With all the above-mentioned properties these are widely used in various ends use application such as electrical & electronics, healthcare, building & construction, automotive & transportation, food packaging, and others.


 As per the analysis, some of the noticeable market factors and trends identified in the global microcellular plastics market include rising urbanization, increasing building & construction activities, and continuous growth of automotive & transportation sector. Furthermore, growing number of working professionals in emerging economies along with increasing consumption of packaged food items has increased the plastic consumption in packaging industry which in turn is estimated to drive the growth of the market over the assessment period during 2017-2023. Moreover, microcellular plastics are recyclable as compared to conventional plastics and have high adoption rate in various end-use industries, which are likely to fuel the growth of the market. Moreover, increasing demand for the lightweight automotive vehicle along with increased usage of microcellular plastics in the manufacturing of vehicle parts is estimated to drive the demand over the forecast period. Increasing commercial, residential, and institutional construction activities in developing countries is estimated to propel the growth of the market over the assessment period. Moreover, rising usage of microcellular plastic in the electronics industry and continuous expansion of healthcare sector is predicted to fuel the growth of the market over the forecast period.


Global Microcellular Plastics market share by application (2016), (%)


Microcellular Plastics Market 


Source: MRFR Analysis


Key Players


Some of the prominent players operating in the global microcellular plastics are BASF SE (Germany), Horizon Plastics International Inc. (Canada), Gracious Living Innovations (Canada), Armacell Canada Inc. (Canada), Ingenia Polymers Corp. (U.S.), Total Plastics Solutions (U.S.), Lavergne Group (Canada), Sealed Air (U.S.), Trexel, Inc. (U.S.), and Griswold Corporation (U.S.).


Regional Analysis


The global microcellular plastics market consists of five regions: Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa. The Asia Pacific region is predicted to grow at the 6.30% CAGR over the assessment period owing to the continuous expansion of numerous end-use industries such as electrical & electronics, building & construction, and automotive & transportation among others. The demand for microcellular plastics is expected to surge in several countries of Asia Pacific such as the Philippines, Australia, Taiwan, South Korea, China, India, Japan, Thailand, Malaysia, Bangladesh, and Vietnam on account of rising production and sales of automotive vehicle coupled with strong manufacturing base for electrical & electronics sector. Furthermore, inexpensive labor and land cost, growing purchasing power, low production set up cost, and moderately stringent regulatory framework are some of the prominent factors for the regional market growth.


Europe emerged as the largest market for microcellular plastics in 2016 followed by the Asia Pacific and North America. North America is estimated to witness steady growth in microcellular plastics market due to the recovery of industrial sector along with rising expenditure on renovation & maintenance of construction sector over the estimated period. The U.S. and Canada are among the leading contributors in North American regional market growth and is estimated to witness moderate growth due to increasing usage in food packaging and continuous growth of healthcare sector. In Europe, countries such as Germany, UK, Italy, France, and Russia are among the leading contributors in the regional market growth due to the strong presence of automotive manufacturers along with increasing investment in R&D and innovation activities in this field. Latin American countries such as Brazil, Mexico, Argentina, Colombia, and Venezuela is estimated to witness moderate growth owing to strong consumer base for automotive & transportation sector. The Middle East & Africa is estimated to witness lucrative growth on account of rising building & construction activities specifically in Saudi Arabia, the United Arab Emirates, Turkey, Oman, Kuwait, and Iran. Furthermore, expansion of numerous end-use industries is estimated to influence the market growth during the review period positively.


Segmentation


The global microcellular plastics market is categorized on the basis of application and region. On the basis of the application, the market is classified into building & construction, automotive & transportation, healthcare, electrical & electronics, food packaging, and others. On the basis of the regions, microcellular plastics market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa.


 


Intended Audience



  • Microcellular Plastics manufacturers

  • Traders and Distributors of microcellular plastics

  • Production Process Industries

  • Potential Investors

  • Raw Material Suppliers

  • Nationalized Laboratory


 



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant value
  CAGR   (2020-2030): 6.30% CAGR
  Base Year   2021
  Forecast Period   2020 to 2030
  Historical Data   2019 & 2020
  Forecast Units    Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   BASF SE (Germany), Horizon Plastics International Inc. (Canada), Gracious Living Innovations (Canada), Armacell Canada Inc. (Canada), Ingenia Polymers Corp. (U.S.), Total Plastics Solutions (U.S.), Lavergne Group (Canada), Sealed Air (U.S.), Trexel, Inc. (U.S.), and Griswold Corporation (U.S.).
  Key Market Opportunities   Growing number of working professionals in emerging economies along with increasing consumption of packaged food item
  Key Market Drivers   Rising urbanization, increasing building & construction activities, and continuous growth of automotive & transportation sector.


Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

Several players in the global market for microcellular plastics are Horizon Plastics International Inc. (Canada), BASF SE (Germany), Armacell Canada Inc. (Canada), Gracious Living Innovations (Canada), Total Plastics Solutions (U.S.), Trexel, Inc. (U.S.), Ingenia Polymers Corp. (U.S.), Sealed Air (U.S.), Lavergne Group (Canada), and Griswold Corporation (U.S.).

Europe is expected to lead the global microcellular plastics market.

Growing demand for eco-friendly objects are expected to drive the global microcellular plastics market as the product is recyclable.

Factors like the increasing building & construction activities, rising urbanization, and booming automotive & transportation sectors are expected to inspire growth for the microcellular plastics market. Its percolation in food packaging and electronics industries can also inspire growth for the microcellular plastics market.

Players would capitalize on tactical moves like mergers, product launch, better R&D, acquisitions, collaborations, production plans, advertising, and others to ensure that the growth always goes up for the microcellular plastics market.