It is expected to reach the global microcellular plastics market

Newark, NJ, June 24, 2021 (GLOBE NEWSWIRE) – According to report released by Fior Markets Global market for microcellular plastics is projected to increase from $ 12,426 million in 2020 to $ 23,343.66 million by 2028, at a CAGR of 8.2% over the forecast period 2021-2028.

The drivers of the microcellular plastics market include increasing urbanization, increased construction and construction activities, and continued growth in the automotive and transportation sectors. In addition, the increasing number of skilled workers working in emerging markets combined with increased consumption of packaged food has resulted in an increase in plastic consumption in the packaging industry, which is expected to drive market growth over the forecast period. In addition, compared to traditional plastics, microcellular plastics are recyclable and have a high level of acceptance in various end-use industries, which is likely to spur market growth.

Microcellular plastics, also called microcell foams, are produced by gas nucleation. It consists of pores that are graded in a polymer medium with an opening size of not more than 100 μm. Microplastic is another ancient type of plastic invented by the Massachusetts Institute of Technology (MIT). The microcellular plastics have many properties such as lower static pressure, a short conduction area, less material usage properties, better mechanical properties in contrast to other types of plastics. And because of these great properties, enthusiasm for elite materials has escalated in many end-user projects, for example construction, food packaging, electronics, automobiles, etc.

The increasing demand for high-performance materials in various end-user industries is expected to fuel the global microcellular plastics market during the forecast period. Although it has sustainable and biodegradable properties, its commercial use is less due to the high cost of materials, the narrow range of processing units, and the inferior material properties. Given the increasing demand for high performance materials in the end-use industry, it is expected that the market growth will lead to a market improvement in microcellular plastics around the world. However, this market is heavily dependent on the research and development of innovative cellular plastics that can be manufactured according to commercial market standards.

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Major players in the global Microcellular Plastics Market include Microgreen Polymers, ABC Group, Horizon Plastics, Gracious Living Innovations, Industrial Thermo Polymers, Canadian General Towers, Ingenia Polymers, Total Plastics Solutions, Lavergne Group, Camoplast Polymer Solutions, Sealed Air, and Mastercore.

  • In May 2018, Trexel, based in Boston, Massachusetts, announced the expansion of its microcellular plastic technology MuCell to the injection molded packaging market. It is also finding its way into automobile blow molding.
  • In June 2018, US-based Viking Plastics acquired Genesis Plastics and Engineering LLC, a custom thermoformer. Genesis Plastics and Engineering LLC is an injection moulder that makes auto interior parts.

The PVC segment dominated the market and held the largest market share in 2020 with 27.7%
On the basis of the type, the global Microcellular Plastics Market is segmented into PVC, PS, PC, PET, and others. The PVC segment dominated the market and held the largest market share in 2020 with 27.7%. This growth is due to the fact that PVC (polyvinyl chloride) is a high-strength thermoplastic. Its high demand in the medical device, pipe manufacturing, wire and cable insulation end-use industries makes it the third most widely produced synthetic plastic polymer in the world.

The food packaging segment dominated the market, holding the largest market share of 36% in 2020
On the basis of the application, the global Microcellular Plastics Market is segmented into Healthcare, Construction, Food Packaging, Transportation, Electronics, and Others. The food packaging segment dominated the market and held the largest market share in 2020 with 36%. This growth is due to recyclability and the high rate of industrialization. With the global growth of the automotive industry, transportation is expected to be another key factor in the microcellular plastics market.

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Regional segment of the market for microcellular plastics

  • North America (USA, Canada, Mexico)
  • Europe (Germany, France, Great Britain, Italy, Spain, rest of Europe)
  • Asia Pacific (China, Japan, India, rest of APAC)
  • South America (Brazil and the rest of South America)
  • Middle East and Africa (UAE, South Africa, rest of MEA)

On the basis of geography, the global Microcellular Plastics market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The North America region had the largest share of sales in 2020 due to an increase in the construction and transportation sectors. Europe is expected to be the second largest growth region in this market. The Asia-Pacific region is expected to be the emerging region due to developing countries like China and India, which have the most promising markets due to their growing industrial base. Latin America is also expected to be one of the fastest growing markets in terms of microcellular plastics consumption.

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About the report:
The global microcellular plastics market is analyzed by value (in MILLION USD). All segments were analyzed on a global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report provides an in-depth analysis of the driving factors, opportunities, restraints, and challenges to generate key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, and Competitor Position Grid Analysis.

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