The global market for microcellular plastics is expected to grow at a CAGR of 8.0% during the forecast period. Increasing demand from healthcare, transportation, and food packaging, and toy manufacturing sector are the major factors driving the global microcellular plastics market. These plastics enhance properties in comparison to conventional plastics. Additionally, microcellular plastics are used in scaffolding in the construction sector. Scaffolding is a temporary structure during construction of a building to support the work crew.
With the rapidly growth in the construction industry in emerging economies of Asia-Pacific, the demand for microcellular plastics is expected to grow during the forecast period. Moreover, there has been a rapid surge in investments in the construction sector which has further provided a boost to the market. For development of infrastructure, the U.K. government’s public sector investment was projected to increase by USD 4.9 billion to about USD 77.7 billion in 2013–2014, as compared to that in 2012–2013. It was expected to further rise to about USD 93.0 billion in 2015–2016. With an increase in investment for infrastructure, market demand for microcellular plastic is likely to rise, thereby benefitting the global market.
By application, the global market for microcellular plastic has been categorized into food packaging, construction, electronics, healthcare, transportation and toy manufacturing.
Geographically, North America dominated the global microcellular plastics market with a significant share in 2015. Increasing research and development in microcellular production, and increasing demand from end use industries including food packaging, transportation, and are some of the major factors driving the growth of the microcellular plastic market in North America. In 2015, Europe had the second largest market share in the global microcellular plastics. The huge size of automotive market in the region creates a significant demand for microcellular plastics. Hence, such factors are expected to drive the microcellular plastics market during the forecast period.
Some of the leading players in the global microcellular plastics market include COMPAGNIE DE SAINT-GOBAIN, Rogers Corporation, General Plastics Manufacturing Company, INOAC Corporation, BASF SE, Mearthane Products Corporation, Evonik Industries AG, ABC Group Inc., Huntsman Corporation, and Grisworld LLC.
Explore Full Report at: https://www.psmarketresearch.com/market-analysis/microcellular-plastic-market
The information and data in the publication “Global Microcellular Plastics Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. Bottom-up approach has been used to calculate the market size. P&S Intelligence analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
Global Microcellular Plastic Market Segmentation