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Industrial Packaging Market Size, Growth, Share
Global Industrial Packaging Market offers a comprehensive overview of the current market situation and provides a forecast until 2030. This report provides a balanced mix of qualitative and quantitative information that highlights important market developments, challenges, competition, industry analysis, and new opportunities and trends within the Industrial Packaging Market. Additionally, the report includes information on the Industrial Packaging Market size, recent trends, growth, share, development status, market dynamics, cost structure, and competitive landscape. The report presents an exhaustive and professional study of the global Industrial Packaging market completed by industry professionals, with a focus on presenting only the most relevant details.

Source- https://www.fortunebusinessins....ights.com/industrial

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The polymer foam market size was valued at USD 114.88 billion in 2019. It is projected to grow to touch USD 157.63 billion by 2027 at a CAGR of 7.73% during the forecast period. The market is thriving at an exponential rate due to its excellent properties in manufacturing of flooring products and insulation panels. Fortune Business Insights™ stated this in a report titled, "Polymer Foam Market, 2021-2028."



IInformation Source- https://www.fortunebusinessins....ights.com/industry-r

Segmentation-

Growing Demand for Bedding ProductsSpurs PolyurethaneSegment

On the basis of type, the market is classified into polyethylene (PE), polyvinyl chloride (PVC), polyurethane (PU), polystyrene (PS), and others. The polyurethane segment will dominate due to increasing demand for bedding products and viscoelastic foam for making mattresses.

Rise in Residential Constructional Activities Surge demand in Building & ConstructionSegment

In terms of application, the market is categorized into packaging, furniture, appliances, automotive, building & construction, and apparel. The building & construction segment will gain traction due to a rise in residential constructional activities to make building designs classier.

Report Coverage

The report provides insights into the regional analysis covering different regions, contributing to the market's growth. The report includes qualitative and quantitative analysis of several factors, such as the key drivers and restraints that will impact the market. Adopting strategies by major players to introduce partnerships, collaboration, and new products will contribute to the market's growth.

Drivers and Restraints

Increasing Stress Level among the Students and Working Classto Stimulate Product Demand

The rise in the global geriatric population has surged a demand for memory foam-based bedding products such as cushions and mattresses. Another reason that surged the need for the product is the increasing stress level among the students and working-class individuals to relax the muscles strain. Meanwhile, due to its non-biodegradable nature, it could hamper the polymer foam market growth.

Regional Insights

Growing Awareness about Energy Security Nurtures Growth in North America

Asia Pacific held the significant polymer foam market share and is expected to lead the global market during the projection period due to the increased disposable income and rising demand from various applications such as construction and packaging.

Europe has projected remarkable growth across regions during the forecast period due to the growing demand for the product in furniture and packaging applications for better interior design.

The Middle East & Africa is expected to contribute to sluggish growth due to the lack of production of foams across the regions to meet the local demand.

Competitive Landscape

Partnerships among Renowned Companies to Grow Its Client Base

Leading companies will likely invest in R&D activities, technological advancements, and product rollouts to expand their geographical presence. With soaring investments in innovation and advanced design, stakeholders could inject funds into mergers and acquisitions.

Industry Developments:

March 2019: Sika AG acquired Belineco LLC with an aim to develop and manufacture polyurethane foams to grow its client base.

List of the Companies Profiled in the Polymer Foam Market:

Synthos (Poland)
Sekisui Alveo (Switzerland)
KANEKA CORPORATION (Japan)
Toray (Japan)
BASF SE (Germany)
Sealed Air (U.S.)
Arkema (France)
Armacell International S.A. (Germany)

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A recently published study by FMI expects the global automotive axle market reached a market value of US$ 61.2 billion in 2022 and is anticipated to reach US$ 74.60 billion by 2032, growing at a CAGR of 2%. Increase in sales of luxurious cars, passenger cars and heavy commercial cars are escalating the demand for automotive axles. As electric vehicles penetrate the market, the demand for automotive axles is expected to grow with time.

Electric Vehicle (EV) Adoption: With the growing adoption of electric vehicles, the demand for lightweight and efficient axles is expected to increase. EVs require axles that are capable of handling the high torque produced by electric motors and are designed to accommodate the battery and other electric components.

Technological Advancements: Automotive axles are evolving with new technologies such as 3D printing, carbon fiber, and advanced materials. These advancements are expected to improve the efficiency and durability of the axles, resulting in increased demand.

Commercial Vehicle Demand: The demand for automotive axles in commercial vehicles, such as trucks and buses, is expected to grow due to the increasing demand for efficient transportation and logistics services. Commercial vehicle axles are required to handle heavy loads and provide better fuel efficiency.

From 2017 to 2021, the industry experienced noteworthy growth, registering a value CAGR of 2% and closing at US$ 60 Billion. Although the COVID-19 pandemic halted the growth of the automotive axle market, post the pandemic, the demand is expected to rise. Manufacturers of automotive axles are focusing on producing cost-efficient and durable axles. Hybrid and electric vehicles are creating lucrative opportunities for automotive axles.

For more information: https://www.futuremarketinsigh....ts.com/reports/autom

Furthermore, increasing purchasing capacity in regions like Asia Pacific, North America and Europe is positively influencing the market for automotive axles. Moving ahead, owing to the research undertaken for automotive axles, manufacturers are planning to integrate smart features to axles that will help the vehicle to carry heavy loads.

Key Takeaways from the Market Study

By vehicle type, passenger cars are expected to hold nearly 45% market share for automotive axles in the forecast period 2022-2032.
By type, drive axles are expected to possess 60% market share for automotive axles in the sales indicator period 2022-2032.
Asia Pacific is expected to possess 36% market share for automotive axles in the assessment period 2022-2032.
North America is expected to hold 25% market share of automotive axles
Europe is expected to hold 20% market share of automotive axles as of 2022
“Passenger vehicles are gaining immense popularity across different geographical locations. In addition, increase in transportation activities is playing a pivotal role in the demand for automotive axles.” says an analyst at FMI

Market Competition

Top Global automotive axle manufacturers are ZF Friedrichshafen AG, Melrose Industries PL, American Axle & Manufacturing, Inc., Meritor Inc., Dana Incorporated, Daimler AG, Talbros Engineering Limited and GNA Group

In February 2022, Meritor Inc extended agreement with Wabash till 2026. Due to the agreement, the company will provide loose axles for Wabash’ configuration.
Dana Incorporated, a key player in the automotive axle market is focusing on offering a wide variety of axles for different types of vehicles.

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