High Density [100-350 Kg/m3] PET Foam Market

Environmental Policies Help Manufacturers to Revive Market Growth during Coronavirus Pandemic

The rate of the high density PET (polyethylene terephthalate) foam usage has been slowed down, due to the onset of the coronavirus pandemic. Analysts at Transparency Market Research opine that this is a temporary phenomenon and its usage is expected to resume with the help of government environmental policies in Europe, Asia, and the U.S. Thus, companies in the high density (100-350 Kg/m3) PET foam market are gaining awareness about these developmental activities to capitalize on them in order to revive market growth.

Government environmental policies pertaining to lower the carbon footprint and PET recyclability are translating into revenue opportunities for manufacturers in the high density (100-350 Kg/m3) PET foam market. Fire resistance, corrosion resistance, and strength to weight ratio properties of PET foam & sandwich materials are being preferred in building and construction industry. Manufacturers are unlocking growth opportunities with thermal insulation and acoustic reduction applications.

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High Density Foam V/S Polyurethane Foam: Which is Better?

The high density PET foam is being increasingly used by mattress makers to provide foundation and shape. However, in many cases, off-gassing problems with low quality foams and too much firmness in mattresses are affecting sale numbers. Polyurethane (PU) foams are also known as an alternative to high density PET foam in mattresses. However, even PU foams are subject to off-gassing and durability problems, owing to low quality foams. Hence, manufacturers should increase their R&D to increase the availability for high quality mattresses.

The high density (100-350 Kg/m3) PET foam market is estimated to reach the revenue of ~US$ 100 Mn by 2031. Mattresses such as innerspring and hybrid types are also attracting high density PET foams to support the spring systems.

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100% Recycled PET Witnesses Demand Due to Need of Multiple Core Design

Eco-friendly and lightweight materials are being preferred in high density PET foam products. Armacell International - a manufacturer of flexible foam for equipment insulation is gaining recognition for using 100% recycled PET in its products with the help of throwaway plastic bottles. Companies in the high density (100-350 Kg/m3) PET foam market are taking cues from such innovations to increase their expenditure in R&D to find ways of manufacturing high quality foam cores with the help of recycled PET.

In order to boost credibility credentials, manufacturers in the high density (100-350 Kg/m3) PET foam market are finding sustainable alternatives to single-use plastic. The market is witnessing a significant change with the transition from a make-take-dispose economy to a model based on reduce, reuse, and recycle. The growing demand for multiple core design in high density PET foams are sparking sustainable innovations.

High Density Green PET Foams Gain Prominence in Composite Industry

The high density (100-350 Kg/m3) PET foam market is slated to clock a favorable CAGR of 6.5% during the assessment period. Manufacturers are boosting their output capacities in high quality and eco-friendly PET foams, owing to their growing demand as structural core materials in the composite industry. They are increasing the supply for green PET foam cores made from post-consumer PET materials such as recycled beverage bottles. These bottles are cleaned of impurities and then ground to flake in order to develop high density green PET foams.

Robust thermal resistance, fatigue behavior, and compressive strength are being preferred in high density green PET foams. Manufacturers in the high density (100-350 Kg/m3) PET foam market are expanding their business streams in sandwich structures by replacing traditional materials such as balsa, SAN, and PVC (polyvinyl chloride).

Online Review Platforms Accelerating Product Sales of High Density PET Mattresses

Innovative online review platforms such as Slumber Search are educating customers about mattress choices as per specific requirements. Such platforms are gaining popularity in the U.S., Canada, the U.K. and Australia. Since mattress and furniture shopping is a potentially tedious task, mattress companies are entering into tie-ups with online review platforms to make the buying process easier for customers. Such platforms are accelerating the pace of product sales the boosting growth of the overall high density (100-350 Kg/m3) PET foam market and helping customers make an informed decision.

The next-gen PET foam core is being developed by manufacturers in the high density (100-350 Kg/m3) PET foam market. They are innovating in cost effective and closed-cell PET foam specially formulated to provide high mechanical properties.

Production of Ready-to-use 3D Shaped PET Foam Parts with Fusion Technology

Companies in the high density (100-350 Kg/m3) PET foam market are bolstering their production capabilities in lightweight and rigid 3D (3 dimensional) foam parts using the innovative fusion technology. Competitor companies are taking cues from such technologies to achieve zero waste production, which eliminates the need for milling or cutting. The fusion technology is helping manufacturers in the high density (100-350 Kg/m3) PET foam market to achieve superior production efficiency, owing to reduced complexity in processes.

The fusion technology is being highly publicized for helping manufacturers increase the availability of fully recyclable and moldable particle foam that offers outstanding thermal stability. They are producing ready-to-use 3D shaped structural foam parts that reduce production costs for end users in the construction and furniture industries. Companies are now diversifying the use of 3D shaped PET foam parts in the automotive industry to replace aluminum sheets for bodies, engine hoods, and chassis.

Innovative Resin Manufacturing Techniques Help Produce High Performance PET Foam

Saudi Basic Industries Corporation, known as SABIC, a multinational chemical manufacturing company, is acquiring popularity for its breakthrough resin manufacturing technique, which is facilitating the development of uniform and high performance PET foam. Companies in the high density (100-350 Kg/m3) PET foam market are taking cues from such innovations to increase research in resin manufacturing techniques using nanotechnology to produce the high performance PET foam.

Innovative resin manufacturing techniques help to control nucleation and results in more uniform cells with a very narrow equal size range distributed across the foam. Manufacturers are gaining awareness that foams are lighter with smaller resin content. Thus, PET is increasingly replacing balsa wood and polystyrene in structural sandwich materials.

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Analysts’ Viewpoint

The support of environment policies and the demand for thermal insulation products are anticipated to revive the market post COVID-19. Apart from furniture and construction industries, companies in the high density (100-350 Kg/m3) PET foam market are increasing their focus in rail, aerospace, and marine applications to expand revenue streams for the next-gen PET foam core. However, high density PET foam is subject to off-gassing problems with low quality foams in mattresses. Hence, companies should increase their focus on the fusion technology and the resin manufacturing techniques using the nanotechnology to increase the availability of high performance PET foam. The 100% recycled PET foam are boosting the credibility of suppliers and manufacturers.

High Density (100-350 Kg/m3) PET Foam Market: Overview

• High density (100-350 Kg/m3) PET foam offers excellent fire prevention, anti-virus, smoke-proof, and UV-protection performance. It also provides excellent mechanical and anti-fatigue properties, stable chemical properties, and low water absorption.
• Manufacturers of high density (100-350 Kg/m3) PET foams have increased their production capacity due to the rise in modern construction techniques. This, in turn, has led to growth of the building & construction sector. High density (100-350 Kg/m3) PET foams are extensively employed in window frames, interior architecture, facades, roofs & domes, doors, bathtubs, and exterior cladding panels. Several manufacturers have invested significantly in expansion of their production facilities in the last few years. These factors are expected to propel the high density (100-350 Kg/m3) PET foam market during the forecast period.
• According to Transparency Market Research’s latest research report on the high density (100-350 Kg/m3) PET foam market for the actual year of 2020, and the forecast period of 2021 to 2031, rise in usage of high density (100-350 Kg/m3) PET foam in end-use industries such as building & construction and furniture is a key factor that is anticipated to boost the high density (100-350 Kg/m3) PET foam market during the forecast period
• In terms of revenue, the high density (100-350 Kg/m3) PET foam market in the U.S., India, Germany, the U.K., France, Italy, and Spain is estimated to reach ~US$ 100 Mn by 2031, expanding at a CAGR of 6.5% during the forecast period

Rise in Usage of High Density (100-350 Kg/m3) PET Foam to Replace MDF, HDF, and Particle Board: Key Driver of High Density (100-350 Kg/m3) PET Foam Market

• The usage of high density (100-350 Kg/m3) PET foam, as a replacement for MDF, HDF, and particle board has been rising significantly, especially in developed and developing economies such as the U.S., the U.K., and India
• PET foam is cost-effective and lightweight, and possesses good mechanical and thermal insulation properties. PET foam has high temperature resistance and lower toxicity, which makes it safer. These properties of PET foam boosts its usage in end-use industries such as construction and furniture.
• PET foam is easily recyclable and has lower carbon footprint; therefore, it becomes a better option and good replacement for Medium Density Fiberboard (MDF), High Density Fiberboard (HDF), and particle board. Rise in applications of PET foam over MDF, HDF, and particle board attracts numerous end-use industries across the globe to switch over to PET foam from different density fiber boards such as MDF, HDF, and particleboard.
• MDF and HDF are heavy weight materials with low thermal insulation and water resistance. MDF contains urea formaldehyde, which can cause irritation to the lungs and eyes. Hence, it is toxic as compared to PET foams. These factors are boosting the high density (100-350 kg/m3) PET foam market.

Increase in Demand for PET Foam in Building & Construction Industry to Drive High Density (100-350 Kg/m3) PET Foam Market

• In terms of value, the global construction sector is expected to reach US$ 15.5 Trn by 2030. Currently, China, the U.S., and India account for 57% share of the global construction sector. The construction sector in the U.S. is estimated to expand at a rapid pace compared to that in China over the next 15 years. Rise in construction activities is projected to be prominent in southern states of the country.
• In the building & construction industry, high density PET foam is extensively employed in window frames, interior architecture, facades, roofs & domes, doors, shower cabin lines, bathtubs, and exterior cladding panels. Thus, rise in construction activities is expected to boost the residential and non-residential sectors in the near future. This, in turn, is anticipated to augment the demand for high density (100-350 Kg/m3) PET foam products.

Building & Construction Industry Dominates High Density (100-350 Kg/m3) PET Foam Market

• In terms of end-use industry, the building & construction industry segment held major share of the high density (100-350 Kg/m3) PET foam market in 2020. High density (100-350 Kg/m3) PET foams are widely used in the building & construction industry, due to their properties such as excellent fire prevention, anti-virus, smoke-proof, and UV-protection performance. The building & construction end-use industry segment is expected to expand at a CAGR of 5.5% during the forecast period.
• Furniture is also a highly lucrative end-use industry segment of the high density (100-350 Kg/m3) PET foam market

High Density (100-350 Kg/m3) PET Foam Market: Competition Landscape

• Detailed profiles of providers of high density (100-350 Kg/m3) PET foam have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
• Key players operating in the high density (100-350 Kg/m3) PET foam market are
  • Armacell
  • 3A Composites Holding AG
  • Carbon-Core Corp.
  • Diab Group
  • BASF SE
  • Huntsman International LLC.
  • CoreLite
  • Gurit

High Density (100-350 Kg/m3) PET Foam Market: Key Developments

• Key providers of high density (100-350 Kg/m3) PET foam, such as Armacell and BASF SE, are focusing on the expansion of high density (100-350 Kg/m3) PET foams, owing to the rise in demand for these in end-use industries. Other prominent developments in the high density (100-350 Kg/m3) PET foam market are highlighted below:
  • In September 2020, Armacell expanded production of PET foams in Belgium with two additional PET production lines
  • On April 3, 2019, Armacell partnered with Thermaflex to jointly serve the market in Russia. As part of the agreement, Thermaflex will operate as the exclusive distributor for Armacell in the Russian Federation. The agreement will initially run for a five year term with multiple extension possibilities.
  • On March 5, 2018, Armacell partnered with Köpp for its bun foam technology. As part of the agreement, Köpp will transfer its bun foam technology to Armacell for the next 15 years.
  • In June 2017, BASF SE launched a new generation of eco-friendly spray foam insulation for the construction industry
• In the high density (100-350 Kg/m3) PET foam market report, we have discussed individual strategies, followed by company profiles of providers of high density (100-350 Kg/m3) PET foam. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the high density (100-350 Kg/m3) PET foam market.

High Density (100-350 Kg/m3) PET Foam Market – Segmentation

TMR’s research study assesses the high density (100-350 Kg/m3) PET foam market in terms of end-use industry and country. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the high density (100-350 Kg/m3) PET foam market.