Insulation materials resist heat transfer from one object to another with two different temperatures. Thermal fluctuations majorly occur during shipping of temperature-sensitive products. Due to its heat resistant property, many manufacturing companies use insulating materials for packaging purpose. These product provides better protection from damage and maintains product by keeping product warm, frozen, refrigerated, and reduces the effect of changing temperature.
The global insulated packaging market report has been segmented on the basis of material, type, application, and region. On the basis of material, the market is segmented into corrugated cardboard, metal, glass, plastic, and others.
On the basis of type, the market is segmented into rigid, flexible, and semi-rigid. Rigid products are manufactured by using materials such as cases, trays, bottles, cans, cups, pots, and boxes with RFID (Radio-frequency identification). These products are sealed using adhesives, staples, and tapes. Polyester, nylon, polyethylene, and polypropylene are flexible packaging products and are sealed by using pressure and heat. Semi-rigid products are manufactured using polypropylene and polyethylene.
On the basis of application, the market is segmented into cosmetic, pharmaceutical, industrial, food and beverages, and others. Food and beverages is expected to account for highest share in terms of CAGR over the forecast period, owing to increasing adoption of insulated packaging and individual preference towards consumption healthy foods. Increasing demand for pharmaceutical products all over the globe is expected to support growth of the target market.
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Based on the region the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to increasing adoption of insulated packaging in various applications such as cosmetics, pharmaceutical, food and beverages, etc. in various countries in the region. The market in North America is estimated to account for the second-highest share in the target market in terms of revenue over the forecast period, owing to availability of advanced packaging methods and government initiative for introducing new technologies and methods of packaging in the US.
Key players operating in the global insulated packaging market include Sonoco Products Company, Innovative Energy, Inc., Huhtamaki Group, Amcor Limited, Tempack Packaging Solutions, S.L., Cryopak Industries Inc., DuPont, American Aerogel Corporation, Davis Core & Pad Company, and MARKO FOAM PRODUCTS.