PUNE, India, June 20, 2019 (GLOBE NEWSWIRE) -- The market growth is mainly driven by the rising demand from the end use applications in conventional and non-conventional fields. Growing energy demand across globe and end user consumer products sales mostly because of the increase in developing region population are driving this market. The strengthening of the purchase ability in these demographics such as Asia Pacific region, are eventually driving the PET Foam industry. The overall market is projected to show gradual growth considering rise in the subsequent industries & expected to settle in near future.
The PET Foam Market is expected to reach USD 24.45 Billion by 2025 from USD 17.41 Billion in 2018, at a CAGR of 4.94% from 2019 to 2025. The market is analyzed across four geographical regions, namely, North America (U.S., Canada and Mexico), Europe (UK, Germany, France and rest of Europe), Asia-Pacific (China, Japan, South Korea, India and Rest of Asia-Pacific), and RoW (Latin America, Middle East and Africa). Asia Pacific region holds the highest market about 40% of total market share in 2018. Further Asia Pacific market is also considered as one of the fastest growing regions with the CAGR of 5.32%. As the ever-growing construction industry in the region is driving this market in the region. Specifically, countries like China and India, are witnessing rapid growth in their construction industry.
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The PET Foam Market is segmented on the basis of Product Types, Application, By Grade Type and by Region. The two Grade types in this Market are, High Density and Low Density. In which High-Density Grade Type holds the 62% of market share in 2018. And is expected to be growing at a CAGR of 4.81% in the forecasted period.
The PET Foam Market by Application is segmented into Transportation, Wind Energy, Packaging, Building & Construction. Packaging based applications are estimated to grow at a CAGR of 4.34% in the forecasted period and it holds the highest 39% of market share. Key companies profiled in the report are EI Du Pont, Foamex, The Dow Chemical, Honeywell International, Kingspan Plc, Bayer Material Science, Tw Insulation System, Evonik, Knauf Insulation, Saint-Gobin S. A., ACG Worldwide, BASF SE.
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