Published Date : May 19, 2016
The packaging industry has been witnessing a continuous demand for innovation in packaging solutions to cater to various purposes and as a result it has evolved into a global business. The key objective of packaging is to protect the contents efficiently while being transported to the market and till the final destination of use or consumption. However, with growing concerns regarding the environmental repercussions of packaging material once they are disposed, several industries have begun emphasizing on recyclable packaging materials. This is one of the most prominent trends currently observed in the foam trays market.
Rising Opportunities in Recycling Foam Trays
Growing environmental concerns pertaining to the proper disposal of foam trays and increase in price based competition have forced manufacturers to find out new and innovative ways of reusing packaging materials and developing recyclable materials. Polystyrene, polyester, polypropylene, and polyethylene are the most common materials used to manufacture foam trays. Among these, polystyrene is a material most often used in foam trays. Given that polystyrene is obtained from petroleum, a non-renewable source, it has become imperative to find ways of reducing the amount of fuel consumed during the production process. Recycling is thus a powerful way of achieving this goal.
Escalating Environmental Concerns Impacting Growth
Foam trays are best known for their cost effectiveness, easy disposability, and convenience. The growing demand for expanded polystyrene has also benefited the foam trays market. On the one hand, the increase in environmental concerns regarding the biodegradability of foam trays is a major challenge to the global market. However, this can be turned into a lucrative business prospect by the introduction of biodegradable foam, which is likely to give the foam trays market a significant boost in the coming years.
There are a number of prominent enterprises competing the global foam trays market. D&W Fine Pack, LLC, Pactiv, LLC, and Sealed Air Corporation are among the key players who have been emphasizing on the proper recycling of disposed foam.