24-Oct-2018 | Zion Market Research
The latest research report by Zion Market Research (ZMR) states that the global microcellular plastics market represents an extremely aggressive business atmosphere. Some of the key players in the global microcellular plastics market include Horizon Plastics International Inc., MicroGREEN Polymers, Inc., Lavergne Performance Compounds, Sealed Air, BASF SE, Ingenia Polymers Corp., Mearthane Products Corporation, and Inoac Corporation. There are also other regional companies which are emerging in the production of microcellular plastics.
This review is based on a report by Zion Market Research titled “Microcellular Plastics Market by Application (Construction, Healthcare, Food Packaging, Transportation, Electronics and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2023.”- Report at https://www.zionmarketresearch.com/report/microcellular-plastics-market
In 2017, the global microcellular plastics market was valued at about USD 9,810.0 Million. By the end of 2023, it is estimated to generate revenue of about USD 13,562.5 Million. Similarly, between 2017 and 2023, it is supposed to grow at a CAGR of about 8.0%. Microcellular plastics are rigid and closed-cell structures. They are prepared by treating with polymers and a huge amount of dissolved gas to thermodynamic instability. This instability is responsible for creating a huge number of cells instantly. Earlier, traditional plastics were found to be solid and thin-walled. They had a minimum thickness as they were manufactured using the conventional foaming processes that produce bubbles with a size bigger than 0.25 Mm. This size was infeasible as it would lead to extreme strength loss.
Increasing Demand For Microcellular Plastics Boosting The Global Microcellular Plastics Market
The benefits of microcellular plastics are lower density material with a small decrease in specific strength, high strength-to-weight ratio, noteworthy increase in the toughness, enhancement in the thermal stability, growth in thermal & electrical insulation properties, minimized material cost, and reduction in pollutants by employing the environmentally safe gases. The global microcellular plastics market is propelled by the increasing demand for microcellular plastics in the healthcare and food packaging segments. Similarly, the transportation, toy making, and electronic industry also are boosting the demand for these plastics, thereby propelling the global microcellular plastics market.
On the basis of application, the global microcellular plastics market can be segmented into healthcare, construction, transportation, food packaging, electronics, and others. The transportation segment in the global microcellular plastics market is estimated to show a huge growth in the upcoming period. The North America region is showing its domination in the global microcellular plastics market owing to increasing research and development activities by important players involved in the market. The global microcellular plastics market is witnessing an increase in demand for the high-performance plastics, such as microcellular plastics, in the transportation industry, food packaging industry, and the healthcare industry.
The Europe region Estimated To Witness Huge Growth In The Global Microcellular Plastics Market
Europe is said to be the second largest region in the global microcellular plastics market. This region is estimated to witness a huge growth in the upcoming years. The rise in demand for plastics in electronics, construction, transportation, food packaging, and healthcare has led to the development of the global microcellular plastics market. In August 2007, Microcellular Plastics Lab organized the Industry Symposium on Micro and Nano-Scale Cellular Polymers.
The global microcellular plastics market is segmented as follows:
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