Polyethylene (PE) Foams Market by Type, by Density, by End-Use Application and Region - Global Forecast to 2025 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Polyethylene (PE) Foams Market by Type (Non-XLPE and XLPE), by Density (LDPE,HDPE), by End-Use Application (Protective Packaging, Automotive, Building & Construction, Footwear, Sports & Recreational, Medical), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The polyethylene foams market is projected to grow from USD 3.3 billion in 2020 to USD 4.5 billion by 2025, at a CAGR of 6.1% between 2020 and 2025.
The market is propelled by the growth of various end-use industries. Increasing investments in use for polyethylene foams in protective packaging, infrastructure, new housing projects, and renovation of non-residential buildings in China, India, and Brazil have also boosted the market growth.
Medical is the fastest growing end-use application in polyethylene market, in terms of volume. XLPE foams are unique, closed-cell materials used widely to create medical packaging solutions. Certain grades of XLPE foams are expanded in a natural process, using nitrogen verses chemical expansion. The XLPE foam is hypoallergenic, non-toxic, and latex-free and can come in contact with skin and can also be used in operating rooms. It has a cushion-like feeling, it is water resistant and also has the capability of being gamma sterilized to be used with medical devices.
Protective packaging segment is projected to be the largest end-use market of polyethylene foams.
Protective packaging is the largest application segment, in terms of both volume and value, between 2020 and 2025. Protective packaging is used in a wide variety of applications including fruits and vegetables, automotive, aerospace, appliance, electronics, and pharmaceuticals. Economic growth and demographic change is a major factor driving the packaging industry. Incomes are expected to rise, which will lead to increase in consumer spending on packaged goods as well as strengthening the middle class people to engage towards global brands and shopping habits. Another driving factor for packaging industry is the increase in the demand for pharmaceutical products due to rising life expectancy, especially in developed markets like Japan.
XLPE type is the fastest-growing segment of the polyethylene foams market.
XLPE type is the fastest-growing segment, in terms of volume, between 2020 and 2025. XPLE foam also known as cross-linked polyethylene foam is a closed-cell foam which is characterized by a compact feel and resistance to water. It has many of the same properties as polyethylene foam but also has the ability to protect Class ""A"" surfaces (surface that can either be seen or touched or both) and is consequently used extensively in the packaging of medical products and equipment.
APAC is the fastest market for polyethylene foams during the forecast period.
APAC is projected to be the largest and the fastest-growing market for polyethylene foams during the forecast period. The growth of the market is propelled by the increasing use of PE foam in packaging, automotive, footwear, sports & recreational, and building & construction industries. The continuous growth in the manufacturing of products for domestic use, as well as exports, drives the demand for PE foam in the region. The demand for high-quality products, rising population, and the growing end-use industries have led to innovation and development in the market.
- Growth of Major End-Use Application Segments
- High Demand in APAC
- Volatility in Raw Material Prices
- Growing Demand for Co2-Based Polyols
- Stringent Government Regulations
- Growing Demand for Bio-Based Polyols
- Armacell LLC
- Dafa A/S
- Furukawa Electric Co. Ltd.
- Hira Industries LLC
- Innovo Packaging Co. Ltd
- Kaneka Corporation
- Mitsui Chemicals
- Other Key Companies
- Palziv Inc.
- Plymouth Foam
- Pregis LLC
- Protac Inc.
- Quality Foam Packaging, Inc.
- Recticel Nv
- Rhyno Foam (Rahil Foam Pvt. Ltd.)
- Sanwa Kako Co. Ltd.
- Sealed Air
- Sekisui Chemical Co. Ltd.
- Sonoco Products Company
- Supreme Industries Limited
- Thermotec Pty Ltd.
- Toray Industries, Inc.
- Wisconsin Foam Products
- Zotefoams plc
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