Microcellular Plastics Market to Surpass $21,234 Million Value by 2030, Says P&S Intelligence

NEW YORK, Nov. 21, 2022 /PRNewswire/ -- According to the market research report published by P&S Intelligence, the size of the microcellular plastics market was about $9,874 million in 2021, and it will reach about $21,234 million by 2030, at a CAGR of around 9% in the near future.

PVC was the most demanded in the past, and it will also dominate the market in the years to come. This is because of its extensive use in the construction industry due to its cost-effectiveness, chemical corrosion resistance, and durability.

Furthermore, it is economical and more resistant to weather than leather and rubber. Hence, PVC is also used for consumer applications, such as furniture, clothes, footwear, and sportswear.

Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/microcellular-plastic-market/report-sample

PET was also significantly demanded in the past, especially in the packaging sector, because of its lightweight nature. Further, the increasing demand for recycled PET from many industries and the growing spending by consumers on packaged food and online shopping are propelling this category.

Polycarbonate consumption will also grow significantly in the coming years. This is because of its use in the automobile sector, especially for lightweight vehicles.

Construction Applications Generate Significant Revenue

The construction sector made use of a significant volume of microcellular plastics in the past, and it will maintain its position in the future. This is because of the wide use of plastics in numerous elements of infrastructure, from hinges and screws to electrical wiring, flooring, waterproofing, decoration, and wall coverings.

Electronic applications are also substantial revenue generators in the industry. This is because of the increasing acceptance of consumer electronic devices, such as television, PCs, cameras, and smartphones. Plastics are extensively used in the electronics sector because of their low weight, electrical insulation, heat insulation, sturdiness, and recyclability.

Food Packaging Industry To Grow Rapidly in Future

The food packaging category will grow at a rate of around 10% in the future. The increasing usable income, growing population, developing lifestyle, and snowballing alternative eating habits will increase the requirement for convenience food products, thereby impacting the growth of the industry positively.

Additionally, the use of microcellular plastics in the logistics industry will grow significantly. With the increasing commercialization and industrialization in emerging economies, there is a rapid increase in the requirement for logistics and transportation, for facilitating the movement of goods.

Browse detailed report on Microcellular Plastics Market Growth, Development and Demand Forecast to 2030

North America and APAC Are Most-Significant Microcellular Plastic Consumers

• North America had the largest share, of around 45%, in the past, and it will maintain its position in the future, on account of its developed healthcare sector.
• The APAC industry will grow the fastest in the years to come, at a rate of over 10%. This is attributed to the rampant urban development and easy raw material availability.
• Europe has a significant share in the industry too, because of the increasing requirement for energy-efficient vehicles.

Global Microcellular Plastics Market Report Coverage

By Type

• Polystyrene (PS)
• Polyvinyl Chloride (PVC)
• Polycarbonate (PC)
• Polyethylene Terephthalate (PET)

By Application

• Healthcare
• Construction
• Food Packaging
• Transportation
• Electronics

Regional analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa

Browse More Reports Published by P&S

Polyethylene Glycol Market Research Report by Form, Grade, Application – Industry Development and Demand Forecast to 2030

Ballistic Protection Market Research Report by Platform, Application, Technology, Material, Threat Level – Industry Development and Demand Forecast to 2030

Polymer Market Research Report by Type, Base Material, Application – Industry Demand Forecast to 2030

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

Contact:
Prajneesh Kumar
P&S Intelligence
Phone: +1-347-960-6455
Email: [email protected]
Web: https://www.psmarketresearch.com
Follow Us: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg

SOURCE P&S Intelligence