Microcellular Plastics Market
Microcellular plastics market are a type of biodegradable plastic that have selective light diffusion and transmission, energy absorption, sustainability, thermal and sound insulation, filtration, and tissue engineering scaffold properties. They exhibit higher dielectric strength, optical properties, impact strength, and fatigue life in comparison to the solid counterparts. Other benefits of these plastics include higher productivity, as they offer a high dimensional stability and ability to create sink mark-free injection-molded parts with no residual stress.
Abelities
These biodegradable plastics also have the ability to replace conventional plastics, and they are widely used in the production process as they offer enhanced properties in comparison to the conventional ones. Owing to their high performance, they are being widely used in the healthcare and food packaging industries. Moreover, end-user sectors such as electronics, toys, and transportation are opting for these plastics as lesser amounts of such material are required than conventional plastics. With the expansion of these industries, the application of these biodegradable plastics is expected to surge in the coming years.
Apart from this, microcellular plastics are widely used in the construction and automotive industries, especially in the emerging economies of Asia-Pacific (APAC). With the expansion of the construction sector in this region, the consumption of this biodegradable product is expected to soar in the coming years. Owing to the rapid industrialization and urbanization in India and China, the demand for microcellular plastics will rise. Moreover, the growth in the food packaging sector will increase the utilization of these plastics in the foreseeable future.
According to P&S Intelligence, North America consumed the highest quantity of microcellular plastics in the past. This can be owed to the spurring demand for these plastics from end-use industries such as transportation and food packaging and growing research and development (R&D) in microcellular production. Europe has emerged as the second-largest consumer of microcellular plastics due to the huge size of its automobile industry. Europe is marked by the presence of automotive giants such as Audi, BMW, Volkswagen, and Porsche.
leading companies
Some of the leading companies in the microcellular plastics market include COMPAGNIE DE SAINT-GOBAIN, Grisworld LLC, ABC Group Inc., General Plastics Manufacturing Company, Huntsman Corporation, Mearthane Products Corporation, INOAC Corporation, Evonik Industries AG, BASF SE, Rogers Corporation, Industrial Thermo Polymers, Lavergne Group, Gracious Living Innovations, Microgreen Polymers, Horizon Plastics, Camoplast Polymer Solutions, Canadian General Towers, and Ingenia Polymers. On account of the widening application base of microcellular plastics, these players are offering large volumes of these environment-friendly substitutes.
Plastics are one of the most common materials around; from toys to food packaging, an insane variety of stuff is made from plastic. A downside to their versatility is their non-biodegradable nature, which is leading to plastic pollution; therefore, one of the most effective solutions to this problem remains recycling. As per the National Geographic Society, around 0.6 billion tons of plastic has been recycled till date. This sounds like a lot, but not when the total volume of plastic produced since the 1950s is taken into consideration — 9.2 billion tons!
microcellular plastic
Therefore, apart from promoting and mandating recycling, several biodegradable plastics are being developed, such as microcellular plastic. In such materials, bubbles, typically up to 50 micrometers in diameter, are formed by dissolving a gas in different types of polymers. Microcellular plastics have numerous positive attributes, such as selective light transmission and diffusion, sustainability, energy absorption, sound and thermal insulation, filtration, and tissue engineering scaffolding properties. Thus, with the increasing concerns related to pollution by plastics, the microcellular plastics market is witnessing robust growth around the world.
Transportation, healthcare, toys, food packaging, electronics, and construction are the various industries where these materials are finding expensive usage. Among these, their demand in the construction sector, where they are used to make scaffoldings, is expected to be quite high. With the government push for infrastructure development, the construction sector across the globe is advancing at a robust rate. PwC estimates the total output of the sector in 2030 at $15.5 trillion, which would be an increase of almost 85% from the present!
Another sector where these materials find high adoption is food packaging. Across the world, the disposable income is rising rapidly, which is letting people buy processed food more than ever. From $8,820.013 in 2009, the global per capita income increased sharply to $11,312.555 in 2018, according to the World Bank. Thus, with the rising purchasing power, which is pushing the demand for processed food, the food packaging industry is witnessing a swift advance. This, in turn, is resulting in a surging demand for microcellular plastics for packaging purposes.
On a geographical basis
On a geographical basis, North America was the largest microcellular plastics market in the past, on account of the extensive research and development (R&D) being carried out in expanding the application area of such materials. In addition to this, the consumption of these materials in the transportation and food packaging industries of the region is also rising. The use of microcellular plastics is also high in Europe, which is majorly due to the high automotive production in the region.
Thus, as the problem of plastic pollution mounts, due to inadequate number of recycling and reprocessing facilities, the demand for microcellular plastics will keep surging around the world in the coming years.
Thus, the broadening application base of microcellular plastics due to their high-performance attributes will propel their usage in several industries across the globe.
Table of content
Chapter 1. Research Scope and Methodology
1.1 Market Definition
1.2 Research Scope
1.2.1 Market segmentation by application
1.2.2 Market segmentation by region
1.3 Research Methodology and Sources
Chapter 2. Executive Summary
2.1 Key Findings
2.2 Research Summary
Chapter 3. Market Outlook
3.1 Introduction
3.2 Opportunities in the Global Microcellular Plastics Market
3.2.1 Expansion opportunities in Asia-Pacific
3.3 Factors Driving Growth of the Market and its Impact on Market Forecast
3.3.1 Growing demand for plastics in food packaging
3.3.2 Growing demand for plastics in healthcare
3.3.3 Growing demand for microcellular plastics in construction industry
3.3.4 Impact analysis of drivers on market forecast
3.4 Factors Restraining Growth of the Market and its Impact on Market Forecast
3.4.1 High raw material cost
3.4.2 Limited number of processing units
3.4.3 Impact analysis of restraints on market forecast
Chapter 4. Global Microcellular Plastics Market
4.1 Global Microcellular Plastics Market, By Application
4.1.1 Transportation
4.1.2 Food Packaging
4.1.3 Healthcare
4.1.4 Construction
4.1.5 Electronics
4.1.6 Toys
4.2 Global Microcellular Plastics Market, by Region
Chapter 5. Global Microcellular Plastics Market, By Application
5.1 Global Microcellular Plastics Market for Transportation
5.1.1 Global microcellular plastics market for transportation, by region
5.2 Global Microcellular Plastics Market for Food Packaging
5.2.1 Global microcellular plastics market for food packaging, by region
5.3 Global Microcellular Plastics Market for Healthcare
5.3.1 Global microcellular plastics market for healthcare, by region
5.4 Global Microcellular Plastics Market for Construction
5.4.1 Global microcellular plastics market for construction, by region
5.5 Global Microcellular Plastics Market for Electronics
5.5.1 Global microcellular plastics market for electronics, by region
5.6 Global Microcellular Plastics for Toys
5.6.1 Global microcellular plastics for toys, by region
Chapter 6. Global Microcellular Plastics Market, by Geography
6.1 North America Microcellular Plastics
6.1.1 North America microcellular plastics, by country
6.1.2 North America microcellular plastics, by application
6.2 Europe Microcellular Plastics
6.2.1 Europe microcellular plastics, by country
6.2.2 Europe microcellular plastics, by application
6.3 Asia-Pacific Microcellular Plastics
6.3.1 Asia-Pacific microcellular plastics, by country
6.3.2 Asia-Pacific microcellular plastics, by application
6.4 Rest of the World (RoW) Microcellular Plastics
6.4.1 RoW microcellular plastics, by country
6.4.2 RoW microcellular plastics, by application
Chapter 7. Competitive Analysis
7.1 Porter’s Five Forces of Competitive Position Analysis
7.1.1 Bargaining power of buyers
7.1.2 Bargaining power of suppliers
7.1.3 Threat of new entrants
7.1.4 Intensity of rivalry
7.1.5 Threat of substitutes
7.2 Competitive Positioning of Global Microcellular Plastics, by Application
Chapter 8. Company Profiles and Strategic Developments
8.1 Key Company Profiles
8.1.1 ABC Group Inc.
8.1.1.1 Business overview
8.1.1.2 Product and service offerings
8.1.2 BASF SE
8.1.2.1 Business overview
8.1.2.2 Product and service offerings
8.1.3 Evonik Industries AG
8.1.3.1 Business overview
8.1.3.2 Product and service offerings
8.1.4 COMPAGNIE DE SAINT-GOBAIN
8.1.4.1 Business overview
8.1.4.2 Product and service offerings
8.1.5 Huntsman Corporation
8.1.5.1 Business overview
8.1.5.2 Product and service offerings
8.1.6 Rogers Corporation
8.1.6.1 Business overview
8.1.6.2 Product and service offerings
8.1.7 INOAC Corporation
8.1.7.1 Business overview
8.1.7.2 Product and service offerings
8.1.8 Mearthane Products Corporation
8.1.8.1 Business overview
8.1.8.2 Product and service offerings
8.1.9 Griswold LLC
8.1.9.1 Business overview
8.1.9.2 Product and service offerings
8.1.10 General Plastics Manufacturing Company
8.1.10.1 Business overview
8.1.10.2 Product and service offerings
8.2 Strategic Developments in the Global Microcellular Plastics
Chapter 9. Appendix
9.1 List of Abbreviations
