The global microcellular plastics market was valued at $47.6 billion in 2021, and is projected to reach $93.0 billion by 2031, growing at a CAGR of 7.1% from 2022 to 2031.
Microcellular plastic is a type of thermoplastic polymer that has a large number of tiny bubbles and is characterized by a great number of cell densities. Microcellular plastics are manufactured utilizing environmentally friendly gases such as nitrogen and carbon dioxide, which are predicted to minimize the usage of traditional plastic foam techniques, which emit a high level of toxic emissions. Other properties include thermal insulation, sound insulation, cushion, energy absorption, filtration, selective light transmission, diffusion, and tissue engineering scaffolds, making the product competitive with microcellular plastics.
The microcellular plastics market is segmented into type, end-use industry, and region. On the basis of type, the market is categorized into polystyrene, polyvinyl chloride, polycarbonate, polyethylene terephthalate and others. On the basis of end-use industry, it is categorized into healthcare, building & construction, food packaging, electrical & electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain the intense competition in the industry.
In addition, the report covers profiles of key industry participants such as Armacell, BASF SE, Formosa Plastics Corporation, INEOS, INOAC CORPORATION, LAVERGNE, Inc., RTP Company, SABIC, TotalEnergies, and Trinseo.
Microcellular plastic is a type of thermoplastic polymer that has a large number of tiny bubbles and is characterized by a great number of cell densities. Microcellular plastics are manufactured utilizing environmentally friendly gases such as nitrogen and carbon dioxide, which are predicted to minimize the usage of traditional plastic foam techniques, which emit a high level of toxic emissions. Other properties include thermal insulation, sound insulation, cushion, energy absorption, filtration, selective light transmission, diffusion, and tissue engineering scaffolds, making the product competitive with microcellular plastics.
The microcellular plastics market is segmented into type, end-use industry, and region. On the basis of type, the market is categorized into polystyrene, polyvinyl chloride, polycarbonate, polyethylene terephthalate and others. On the basis of end-use industry, it is categorized into healthcare, building & construction, food packaging, electrical & electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain the intense competition in the industry.
In addition, the report covers profiles of key industry participants such as Armacell, BASF SE, Formosa Plastics Corporation, INEOS, INOAC CORPORATION, LAVERGNE, Inc., RTP Company, SABIC, TotalEnergies, and Trinseo.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the microcellular plastics market analysis from 2021 to 2031 to identify the prevailing microcellular plastics market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the microcellular plastics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global microcellular plastics market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Polystyrene (PS)
- Polyvinyl Chloride (PVC)
- Polycarbonate (PC)
- Polyethylene Terephthalate (PET)
- Polyurethane (PU)
- Others
By End User
- Healthcare
- Building and Construction
- Food Packaging
- Electrical and Electronics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Trinseo
- Armacell
- Formosa Plastics Corporation
- TotalEnergies SE
- BASF SE
- LAVERGNE, Inc.
- RTP company
- SABIC
- INEOS
- INOAC CORPORATION
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MICROCELLULAR PLASTICS MARKET, BY TYPE
CHAPTER 5: MICROCELLULAR PLASTICS MARKET, BY END USER
CHAPTER 6: MICROCELLULAR PLASTICS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Microcellular Plastics Market," the microcellular plastics market was valued at $47.6 billion in 2021, and is estimated to reach $93.0 billion by 2031, growing at a CAGR of 7.1% from 2022 to 2031.Microcellular plastics include polystyrene, polycarbonate, polyvinyl chloride, and others. Microcellular plastics, such as polystyrene, appear to be strong, rigid, and transparent polymers which are used to make expanded polystyrene (EPS). EPS blocks are employed in the construction industry for applications in concrete floor slabs and underfloor heating due to their excellent thermal conductivity. Microcellular polystyrene is a flexible, high-impact material that is simple to print on and transform. It is used in applications such as cooktops, consumer goods, television and audiovisual equipment parts, tapes, bicycle trailers, appliance parts, gasoline tanks, circuit boards, and compartments for the automotive industry.
Microcellular plastics such as polycarbonate are utilized in switching relays and connections, sensor components and lights, LCD and LED sections, cellphones, and computers. Polycarbonates are also employed in the manufacture of wire insulation and coatings as they are excellent thermal insulators. Polycarbonate microcellular plastics are ideal for infant bottles, sippy cups, and a range of other beverage and food containers. Polycarbonates have long been a significant component in the automobile industry, and they will continue to supply creative solutions for electric powertrain corporations and original equipment manufacturers (OEMs).
Microcellular plastic insulation boxes can be used for transporting organs, blood, drugs, and specimens, where expanded polystyrene (EPS) can reduce the occurrence of damaged items and lower transport costs due to its lightweight. It contains 98% air and has great insulating properties, expanded polystyrene is a good choice for medical and pharmaceutical packaging. Microcellular plastics are used to create blood bags and other non-breakable PVC containers. PVC-based medical devices are noiseless and prevent odors from escaping, providing additional comfort and hygiene.
Microcellular plastic medical polycarbonate has superior durability and chemical resistance, which helps in the prevention of cracking and the safe delivery of pharmaceuticals to patients. It is widely used in the production of medical instruments and equipment like surgical gloves, syringes, insulin pens, catheters, inflatable splits, and others. Amcor plc announced an investment in April 2022 to create additional thermoforming capabilities for medical packaging, including microcellular polymers, at its healthcare packaging business in Sligo, Ireland. The multimillion-dollar investment strengthens Amcor's dominance in the expanding sterile packaging and provides customers in Europe and North America with access to a new location offering comprehensive healthcare solutions.
Microcellular plastics are used to effectively collect, separate, store, and transport blood. According to the American Hospital Association, statistics updated in February 2022, 48 million procedures were conducted in hospitals in the U.S., and the majority of them required an enormous amount of blood supply, which increases the blood bags partially grown microcellular plastics demand. Thus, the increase in demand for healthcare is expected to boost the growth of the microcellular plastics market during the forecast period.
However, the scarcity of microcellular plastic processing units affects the overall cost structure, presenting a challenge to the microcellular plastic market. Microcellular plastics processing consists of three basic elements creating a gas/polymer solution, inducing a thermodynamic instability to nucleate billions of microvoids, and controlling the diffusional growth of stable nuclei. Microcellular plastics can be made of nearly all polymers and fiber-reinforced polymers including thermosetting, amorphous, semi-crystalline, elastomeric, and liquid crystalline polymers. The demand for service is greater than the availability of the good or service. It has a very high demand for commercial utilization and supply of the microcellular is very low due to the high material cost associated with microcellular plastics. The uncertainty about the availability of raw materials raises the overall cost of the materials and makes microcellular plastics scarce.
The microcellular plastics market is segmented into type, end-use industry, and region. On the basis of type, the market is categorized into polystyrene, polyvinyl chloride, polycarbonate, polyethylene terephthalate and others. On the basis of end-use industry, it is categorized into healthcare, building & construction, food packaging, electrical & electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global microcellular plastics market is fragmented in nature with various players such as Armacell, BASF SE, Formosa Plastics Corporation, INEOS, INOAC CORPORATION, LAVERGNE, Inc., RTP Company, SABIC, TotalEnergies and Trinseo hold a significant share of the market. These players have been adopting various strategies to gain higher share or to retain leading positions in the market.
Key Market Insights :
Based on type, the polyurethane (PU) segment was the highest revenue contributor to the market in 2021.
- By end-use industry, the food packaging segment was the highest revenue contributor to the market and is estimated to grow with a CAGR of 7.0%.
- By region, Asia-Pacific held the largest share of the global microcellular plastics market in 2021.
- Asia-Pacific and LAMEA are expected to witness considerable CAGRs of 7.3% and 7.2%, respectively, during the forecast period.
Companies Mentioned
- Trinseo
- Armacell
- Formosa Plastics Corporation
- TotalEnergies SE
- BASF SE
- LAVERGNE, Inc.
- RTP company
- SABIC
- INEOS
- INOAC CORPORATION
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 47.6 billion |
| Forecasted Market Value ( USD | $ 93 billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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