Microcellular Plastics Market Emerging Trend and Forecast to 2028 | Keyplayers - BASF SE (Germany), Horizon Plastics International Inc. (Canada), Gracious Living Innovations (Canada)
Market Insights:
Market Research
Future (MRFR)’s latest analysis reveals that the global microcellular plastics
market is set to expand moderately over the forecast period 2017 to 2023. The
product has developed application across different industry verticals owing to
its characteristics such as impact strength, fatigue life, durability, thermal
stability, etc. The boom witnessed in the end-user industries such as electrical
& electronics, building & construction, healthcare, and food packaging
among others is expected to drive the growth of the market in the forthcoming
years.
The rising
disposable income coupled with rapid urbanization is likely to intensify the
demand for microcellular plastics by augmenting automobile industry. The
exponential demand for lightweight vehicles is also likely to increase the demand for microcellular plastics in the
automobile industry. Furthermore, the growing population has paved the way for
accelerated economic activities in the building & construction industry. This is another major factor responsible for
aiding microcellular plastics market proliferation during the assessment
period.
The rapid
industrialization, especially in the fast-developing economies, is poised to
propel the expansion of the microcellular plastics market in the foreseeable
future. Additionally, the adoption of microcellular plastics is also projected
to increase as it is easily recyclable. The microcellular plastics market is
likely to remain a lucrative one through the review period.
Market Segmentation:
The report
offers a detailed segmental analysis on the basis
of application. The microcellular
plastics market, by application, has been segmented into building &
construction, healthcare, electrical & electronics, automotive &
transportation, food packaging, and others.
Regional Analysis:
By region, the microcellular
plastics market has been segmented into Latin
America, North America, Asia Pacific, Europe, and the Middle East & Africa.
Asia Pacific is estimated to register the highest CAGR during the forecast period. The growth is attributable to the increasing
demand from the end-user industries such as building & construction,
electrical & electronics, and automotive & transportation among others.
Furthermore, the continuous expansion of the country-level markets such as Australia,
Taiwan, South Korea, Philippines, China, Japan, Thailand, India, Bangladesh,
Malaysia, and Vietnam is likely to drive the growth of the regional
microcellular plastics market. Asia
Pacific has emerged as a manufacturing hub owing to inexpensive labor and land
cost, low production set up fee, growing purchasing power, and moderately
stringent regulatory framework. This is
expected to expedite the expansion of the microcellular plastics market in the
region.
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Europe emerged
as the largest market for microcellular plastics in 2016. It is projected to
retain the pole position over the next few years owing to massive contributions
from country-level markets such as Germany, Italy, UK, France, and Russia. The
growth of the microcellular plastics market in the region is attributable to
the consolidation of automotive manufacturers coupled with increasing
investment in research & development and innovation activities. Meanwhile,
North America is poised to exhibit steady growth with the U.S. and Canada being
the primary contributors.
Latin America is
poised to grow steadily owing to the moderate expansion of the country-level
markets such as Brazil, Argentina, Mexico, Colombia, and Venezuela. The microcellular
plastics market in Middle East & Africa is projected to thrive moderately
owing the accelerated economic activities in the end-user industries.
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Report Details @ https://www.marketresearchfuture.com/reports/microcellular-plastics-market-5579
Competitive Dashboard:
Some of the key players profiled in this report include BASF SE (Germany), Gracious Living Innovations (Canada),
Armacell Canada Inc. (Canada), Horizon Plastics International Inc. (Canada),
Ingenia Polymers Corp. (U.S.), Lavergne Group (Canada), Sealed Air (U.S.),
Total Plastics Solutions (U.S.), Trexel, Inc. (U.S.), and Griswold Corporation
(U.S.).
Industry News:
In May 2018, Boston,
Massachusetts based Trexel has announced the expansion of its MuCell microcellular foaming technology
into injection molded packaging market. It is also moving into the automotive
blow molding.
In June 2018, the
U.S. based Viking Plastics has bought Genesis Plastics and Engineering LLC, a
custom thermoformer. Genesis Plastics and
Engineering LLC is an injection molder that makes interior automotive parts.
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