Protective packaging has gained importance for its role in eliminating the incidences of physical damages to packaged goods during shipping process. Foam materials are being widely used for offering high-level protection to the packaged goods. Foam protective packaging solutions are being developed to meet the diverse packaging needs for a range of products. Companies providing foam protective packaging solutions are focused upon fabricating their products according to the container dimensions and package sizes. Moreover, several players in the global foam protective packaging market are offering prototypes and incorporating advanced design engineering technologies to facilitate utmost levels of corner protection, shock absorption, and edge protection.
Plastifoam Company, Sonoco Products Company, Sealed Air
Corporation, Pregis Corporation, Volk Packaging Corporation, DRB Packaging,
Rogers Foam Corporation, Wisconsin Foam Products, Armstrong Brands, Inc., and
Tucson Container Corporation are observed as global leaders in offering foam
protective packaging to multiple industries. Transparency Market Research’s
recently published forecast study observes that these companies will play a key
role in instrumenting the growth of the global foam protective packaging
market. However, the report estimates that during the forecast period,
2017-2026, the global foam protective packaging market will expand at a sluggish
CAGR of 3.2%, bringing in just over US$ 5.3 Bn in global revenues by the end of
2026. The report has addressed the key factors restraining the growth of the
global foam protective packaging market.
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Key Restraints for Adoption of Foam Protective Packaging
While the players in the global foam protective packaging
market will be compelled to divest their capital in offering prototype
sampling, part production and custom fabrication, there are several key
restraints beyond their control that may curb their business growth to
considerable extent.
- The
use of foam materials in packaging is gradually witnessing a growing ban
across several parts of the world. Ban of foam materials will ultimately
cause complexities in raw material procurement for foam protective
packaging companies.
- Environmental
protection agencies are coercing market players to consider recycling and
reusing of foam protective packaging products. This has spiked the
operating costs of companies and lowered the profit margins.
- Catering
to the diverse specifications of product packaging is a resolvable
challenge, yet, entails a considerable expenditure on recalibration of
production machineries and replacement of traditional protective packaging
methods.
Key Insights from The Report
The report has estimated that the demand for foam protective
packaging products made of urethane materials will be the highest. By the end
of 2026, urethane-based foam protective packaging products will bring in
revenues worth over US$ 2 Bn. Neoprene foam materials will register fastest
sales and reflect a CAGR of 4.6% over the forecast period. The report further
reveals that the end-use of foam protective packaging products will be the
largest in the e-commerce industry.
Electronics and appliances, pharmaceutical and medical devices,
and consumer product manufacturing are expected to represent leading end-user
industry in the global foam protective packaging market. The report also
reveals that in 2017, void fill and cushioning applications of foam protective
packaging products will collectively bring in around US$ 2.2 Bn in terms of
global revenues. The most lucrative marketplace for foam protective packaging
is observed to the Asia-Pacific excluding Japan (APEJ) region. Manufacturing
hubs like China, South Korea and India will factor the adoption of foam
protective packaging in the APEJ region. By the end of 2026, the APEJ foam
protective packaging market will have reach a valuation of US$ 2 Bn, accounting
for more than one-third share of global market value.
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