Bio foam Market Size Market Size, Industry Analysis Report, Regional Outlook (Asia Pacific, Europe, North America, and Rest of the world), Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI5093
Bio Foams are made of the bio polymers which are abstracted from the vegetable materials, fats, and sugarcane that are found abundant in nature. It is organic and can be reused similar to the expanded polystyrene.
Bio Foams possess the similar properties as well as the structure as that of the expanded polystyrene. Moreover, under the moisture and usage of some bacteria these can be used at high temperature which can be added advantage for the industrial sectors, such as steel, roll meals and cement plants do require higher temperatures. Additionally, due to its durability is can also be used in packaging and technical applications. Advantages of bio foams are they are light weight, acts as an insulator, durable, high shock absorption ability, can retain shape and most important nonhazardous in nature.
Taking consideration into the norms regarding nature the awareness for biodegradable products has started increasing. These holds true for every industry, specially packaging. As bio foams are degradable, they are the first choice against the synthetic products used for packaging. They have got packaging application in industries like furniture’s, crockery, food and beverages, automotive parts, healthcare instruments.
Bio foams are technically evolving, they are adapting for better biodegradability, recyclability, and compost ability. As the market is going cost sensitive researchers are trying for alternatives to grow in bio foams.
Various industries have started using the environmentally friendly products to reduce the carbon footprint, which is projected to open up new opportunities as they are environmentally friendly and made from renewable sources. Moreover, the dependency on polystyrene is going down and the market has started replacing polystyrene with the bio foams. Moreover, with the growing digitalized in the recent times the number of purchases from online have shown great highs. Furthermore, with more need for packaging from the e-commerce industry the bio foams market is projected to show tremendous growth during the forecast period.
With developing lifestyle increasing the concepts of interior designing modular kitchen have started to surge. This industry requires materials which are fragile and hence needs good packaging. This can act as a major factor boosting the bio foams market growth throughout the forecast period.
China clay items, also known as white goods products, are majorly used products are very fragile this needs an extensive cautious packaging as slight shocks can sometimes break these items. Bio foams can be alternative here to replace the old packaging of polystyrene. This holds same in the automotive spare parts some parts are made of polymers, Fibers and sometime fragile materials like glass these materials need to be addressed well as the chances of damaging are high. Bio foams also finds its application in these industries.
On the basis of region, it can be segmented into the North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia pacific is anticipated to be one of the fastest growing market owing to the growing digitalization and extensive production hub. Moreover, with e-commerce boom in the recent years the market is anticipated to create huge demand for bio foams in the coming years.
The key players in the bio foams markets are Woodbridge Foams, Eco Global production Ltd, BASF, Huntsman international LLC and many more. The players in this market are indulging in various strategies for market expansion. For instance, In 31st Jan’20 BASF completed its acquisition with Solvay. This gives them an upper hand on their reach to Asia and American markets.
In August 2017 Woodbridge group announced its owner ship on joint venture with the Foam Partners. They offer the innovative materials in the field of automotive, Healthcare, building products, packaging, and commercial products.
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