The Global Microcellular Plastics Market is further classified on the basis of application and region. On the basis of the application, the Microcellular Plastics Market is segmented into building & construction, automotive & transportation, healthcare, electrical & electronics, food packaging, and others. Among them, automotive & transportation is estimated to hold the leading market share in 2016, which is further followed by electrical & electronics. The factor behind the segment growth is increasing automotive production and sales along with rising demand for high-performance plastic material in these industries. Electrical & electronics application segment is predicted to grow at the highest CAGR owing to increasing purchasing power of consumer along with rising consumption of household devices. Increasing usage of microcellular foams for interior application, hollow wall claddings, ceilings, windows, and doors is estimated to fuel the building & construction segment over the forecast period.
Europe is predicted to be the largest Microcellular Plastics Market in 2016, which is further followed by the Asia Pacific and trailed by North America owing to increasing demand from building & construction, electrical & electronics, and consumer goods. Germany, Italy, France, and the U.K are expected to capture the leading regional market share on account of significant demand from the important automobile manufacturers. In the Asia Pacific, various countries such as Taiwan, South Korea, India, and China are the fastest growing Microcellular Plastics Market and are estimated to grow at the same pace over the forecast period. Some of the factors that are attributed to the growth of the market in the Asia Pacific are growing middle-class population, competitive manufacturing costs, increasing number of working professionals, and ease in availability of raw material. North America Microcellular Plastics Market is estimated to witness a substantial growth since the U.S is the major contributor to the regional market growth due to the improved healthcare sector.
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