BASF (Germany) and Sealed Air Corporation (U.S.) are the Two Major Players in the Packaging Foams Market
Investments & expansions was the key strategy adopted by the market players to achieve growth in the packaging foams market. This strategy accounted for the largest share of all the development strategies adopted by the market players to expand their global presence and increase their market shares in the packaging foams market from 2010 to 2017. The current increasing demand for online shopping for relatively small items worldwide is driving the packaging foams market. The demand from end-use services encouraged companies to adopt various growth strategies in the packaging foams market. Some of the leading packaging foam manufacturers are Armacell (Germany), JSP (Japan), Zotefoams Plc. (U.K.), BASF (Germany), Borealis Ag (Austria), and Sealed Air Corporation (U.S.), among others. These companies adopted various organic and inorganic growth strategies to improve their businesses and maintain their market shares, globally.
Companies adopted strategies such as investments & expansions, new product launches, mergers & acquisitions, and partnerships, agreements, contracts & joint ventures to increase their market shares and expand their distribution networks, globally. These strategies accounted for a significant share of the total number of growth strategies adopted by players in the packaging foams market between 2010 and 2017.
Two major players in the packaging foams market are, BASF (Germany), and Sealed Air Corporation (U.S.). In the past two years, BASF (Germany) and Sealed Air Corporation (U.S.) adopted investment & expansion as their major strategies for growth.
In November 2016, BASF expanded its compostable foam solutions, Ecovio EA. This is bio-based and it supports the biological cycle through certified composability. Similarly, in September 2015, Sealed Air Corporation expanded facilities for research & development center in Mumbai.
Related Reports:
Packaging Foams Market by Structure Type (Flexible Foam, Rigid Foam), Material Type (Polystyrene Foam, Polyurethane Foam, Polyolefin Foam), Service Type (Food Service, Protective Packaging), and Region - Global Forecast to 2022
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