- The functional and physical properties of PET foam for
structural composites present tremendous growth opportunities for
the market to grow rapidly
- Benefits such as optimum mechanical performance,
lightweight, and decreased thermal conductivity may bring immense
growth prospects for the PET foam market for structural composites
during the assessment period of 2020-2030
ALBANY, N.Y., Jan. 11, 2021 /PRNewswire/ -- The escalating use
of PET foam for structural composites across a wide range of
applications across the transportation, packaging, and construction
industries may bring tremendous growth prospects for the global PET
foam market for structural composites across the forecast period of
2020-2030.
PET foam for structural composites is 100 percent recyclable and
has a lower carbon footprint as compared to PS foams. This aspect
helps in accelerating the growth of the PET foam market for
structural composites.
The researchers at Transparency Market Research (TMR) have
conducted an extensive study on the PET foam market for structural
composites. After a scrutinized analysis of each factor, TMR
researchers estimate the global PET foam market for structural
composites to expand at a CAGR of ~7 percent between 2020 and 2030.
The PET foam market for structural composites was valued at
US$ 180 mn in 2019. The PET foam
market for structural composites is anticipated to reach a market
value of US$ 425 mn by the end of the
forecast period, that is, 2030.
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The increase in the popularity of PET foam for structural
composites over other substitutes will invite profitable growth
opportunities for the market. The ongoing research and development
activities by the players in the PET foam market for structural
composites will invite phenomenal growth. Research activities will
strengthen the influence of the PET foam market for structural
composites in the packaging sector in the near future.
PET Foam Market for Structural Composites: Transparency
Expert Diagnosis
The analysts at Transparency Market Research consider the
benefits of PET foam for structural composites over PS foams as a
prominent growth-generating factor. The analysts further add that
the increasing demand from the automotive sector for PET foam for
structural composites will further add extra stars of growth. The
analysts advise the players in the PET foam market for structural
composites to focus on reducing production barriers for enhancing
efficiency in operations.
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Wind Energy Segment to Expand Swiftly between 2020 and
2030
The wind energy segment is expected to gain considerable growth
at a rapid rate during the forecast period of 2020-2030. The
properties of PET foam for structural composites such as
anti-corrosiveness, smoke-resistant, great strength-to-weight
ratio, fire resistance, and others bode well for the manufacturing
of diverse wind turbine parts.
PET Foam Market for Structural Composites: Key
Findings
- On the basis of application, the transportation segment held a
large share of the PET foam market for structural composites in
2019
- Asia Pacific acquired a
massive share of the PET foam market for structural composites in
terms of regional contribution
- Asia Pacific's PET foam market
for structural composites is expected to expand at a CAGR of ~8
percent across the assessment period
View Detailed Table of Contents at
https://www.transparencymarketresearch.com/report-toc/77721
PET Foam Market for Structural Composites: COVID-19
Impact
The novel coronavirus pandemic has affected the PET foam market
for structural composites to a certain extent. The demand for the
PET foam for structural composites declined substantially as many
countries imposed strict stay-at-home orders. The lockdown measures
completely crippled the growth projections for the PET foam market
for structural composites. In addition, the ongoing trade wars
between various countries further worsened the situation. However,
the relaxation in lockdown restrictions will provide an opportunity
to the players for regaining lost growth.
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