PET Foam Core: Key to Sustainable Agriculture

  • Core materials are lightweight structural layers that are used to produce structures with high strength-to-weight ratio. Core materials are the key components of sandwich panel construction. These materials are insulated between layers of structural composites. Thus, they provide the resultant material greater strength properties than structures manufactured by using only skins. 
  • Polyethylene Terephthalate (PET) is a thermoplastic resin is available at a lower cost than other core materials with structurally sound core products. PET core materials can be heated and transformed to specific shapes. This makes PET core materials a favorable choice of core materials for a wide variety of applications. PET foam core is one of the widely used core materials across the globe.
  • PET foam cores are used to manufacture structural sandwich composites for various applications including wind power, automotive, and building & construction

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Increase in Demand for PET Foam Core Market in Building & Construction Industry

  • PET foam is widely used in window frames, interior architecture, facades, roofs & domes, doors, bathtubs, and exterior cladding panel in the building & construction industry  
  • In terms of volume, 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 than that in China in the next 15 years. Growth in the construction sector is projected to be prominent in the southern states of the U.S.
  • The construction sector in India is anticipated to expand almost twice as fast as that in China. The urban population in the country is expected to increase to 165 million by 2030, with the population of New Delhi rising by 10.4 million.
  • Thus, rise in construction activities is estimated to boost the residential and non-residential sectors in the near future. This, in turn, is projected to augment the demand for PET foam products.

Rise in Demand for PET Foam Core in Wind Power to Offer Lucrative Opportunities

  • In June 2017, the Netherlands-based tender for Borssele 1 & 2 off shore wind farm closed at a bid of EUR 72/MWh, while a Denmark-based near-shore tender closed at EUR 64/MWh. These low prices are due to the maturity of the industry, increase in investor confidence, and new developments in wind turbine manufacturing technologies.
  • Decrease in cost and large unexplored potential in offshore wind power is anticipated to drive the global wind power industry in the near future. PET foam core is used to manufacture wind turbine blades across the world. Increase in demand for wind turbines due to new installation across the globe is estimated to boost the demand for PET core materials in the wind power applications during the forecast period.

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North America to Lead Global PET Foam Core Market

  • In terms of region, the global PET foam core market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is a leading consumer of PET foam core, followed by Europe and North America. Rise in demand for wind power in China, India, and Germany is expected to generate high requirement for PET foam core market during the forecast period. Additionally, increase in demand for food delivery trucks in developing countries of Asia Pacific such as China, India, Indonesia, and Vietnam is anticipated to offer lucrative opportunities to manufacturers of PET foam cores in the region during the forecast period.
  • Increase in FDIs in the aviation industry in developing countries of Asia Pacific is also likely to fuel the PET foam core market in the region during the forecast period

Key Players Operating in PET Foam Core Market

The global PET foam core market is highly fragmented, with the leading manufacturers accounting for approximately 10% to 15% share. Key players operating in the global PET foam core market are:

  • Armacell
  • Gurit
  • 3A Composites
  • Diab Group
  • CoreLite Inc.
  • SAERTEX GmbH & Co.KG
  • Airex AG
  • DARCO Southern
  • DAVLYN Manufacturing Co

Global PET Foam Core Market: Research Scope

Global PET Foam Core Market, by End-use Industry

  • Wind Power
  • Automotive & Transportation
  • Marine
  • Building & Construction
  • Others

Global PET Foam Core Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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