According to the research report titled ‘Foam Packaging Market Size By Product (Rigid, Flexible), By Material (Polystyrene, Polyurethane, Polyvinyl Chloride), By Industry (Food & Beverages, Medical & Pharmaceutical, Aerospace & Defense, Electrical & Electronics, Automotive, Consumer Packaging, Personal Care), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report, global foam packaging market is anticipated to reach USD 15.7 billion valuation by the end of the forecast period 2019-2026.
 

As per the report findings, global foam packaging market is largely driven by rapid progression of electrical and electronics industry, flourishing e-commerce sector, and surging demand for ready-to-eat food.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2419656/
 

In terms of industry, aerospace and defense segment is slated to register 4.6% CAGR through 2026, creditable to increasing defense expenditure across major economies like China, U.S., India, and Japan. Shorter packaging times, minimal damage, extended life, and durability are the key benefits favoring the use foam packaging solutions in the aerospace and defense industry.
 

Worldwide foam packaging market from medical & pharmaceutical industry is projected to register 4% CAGR over the forecast duration, creditable to surging healthcare expenditure in developed countries. For instance, the data by MedTech Europe cites that European countries on an average spent nearly 10% of their GDP on healthcare, indicating a strong demand for medical and pharmaceutical packaging in such countries.
 

Based on material, the industry size from polyurethane segment is anticipated to multiply at a CAGR of 4.1% over the projected timeline. This can be accredited to high demand for polyurethane in electronics, consumer, and personal care packaging applications due to their low cost in comparison to counterparts.
 

Flexible foam held over 55% market share in 2018 and will likely record strong gains in the forthcoming years. The highly preferred anti-static feature of flexible foams is supporting the product adoption for packaging of medical equipment, electronics, automotive parts, and personal care items. Besides, accelerated growth of e-commerce industry is contributing to the segmental expansion.
 

From a geographical perspective, Middle East & Africa captured over 10% of global foam packaging industry share in 2018 and is touted to expand at 4% CAGR through 2026. Flourishing food & beverages, automotive & electronics, and consumer packaging industries due to burgeoning population and increasing purchasing power of people are supporting the regional market development.
 

Leading players in this business sphere are SABIC, Sealed Air Corp., Smurfit Kappa Group plc, Atlas Roofing Corp., Clark Foam Products Corp., Package Design & Manufacturing Inc., Storopack Inc., FoamPartner (Fritz Nauer AG), Greiner Mutlifoam Sp. z o.o., American Foam Corp., UFP Technologies Inc., Armacell, and BASF SE.