PET Foam Market Projected to Surpass USD 474.1 million, Anticipating a 7.1 % CAGR by 2031: Transparency Market Research, Inc. [Yahoo! Finance]
Huntsman Corporation (HUN)
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Source: Yahoo! Finance
Consequently, allied markets tend to grow with the help of the growing industry. The global PET foam market is one such market that has seen a rising demand in the said industry. Wilmington, Delaware, United States, March 12, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - In the context of the last recorded global pet foam market valuation, the industry would be valued at about US $ 238.4 million in 2021. However, it has been projected that the market valuation shall advance through a moderate CAGR of 7.1% to reach US $ 474.1 million by 2031. This growth is due to various responsible factors, including the development of the allied industries. Many end-use industries accept PET foam as a sandwich or core composite material for various internal operations. The main reason behind this increased acceptability is the better physical properties of the PET foam. Resistance to varying temperatures, corrosion, and chemicals are the best attributes suiting various industries.
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