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The global expanded polyethylene (EPE) foam market is anticipated to rise significantly in the forecast period owing to rapid industrialisation and urbanisation, which is likely to propel the building and construction industry. The extensive use of protective packaging towards safeguarding and shielding a product from damage. The application segment of the market is likely to bolster the market growth, owing to the rising automotive, packaging, building and construction industries. However, the strict government regulations to prevent overexposure to VOCs, which may lead to illness and lung infection, have hampered the sales. But the rising population and increasing disposable income will propel the market recovery in the forecast period.
The growth is anticipated to be propelled by the rising production of expanded polyethylene (EPE) foam which would enhance the product's availability. In February 2021, Zotefoams plc (LON: ZTF) opened a new plant in Brzeg, South West Poland, to augment its global capacity and optimize customer service levels. In addition, the company will focus on the supply of the product in Europe and the United Kingdom to meet the increasing demand for foams in the region. This move is likely to satisfy the demand for foams in the rising building and construction industry, which has attracted several investors.
The Asia Pacific region is expected to remain the dominant region in the forecast period. This can be attributed to the rising economy, increasing population, and technological advancements in the region. In addition, the region has also witnessed substantial investments in the field of packaging, owing to the rising food and beverage, automotive, building, and construction industry. Asia Pacific is followed by Europe, where the resurgence of construction projects has led to a significant increase in demand for expanded polyethylene (EPE) foam.
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The key players in the global expanded polyethylene (EPE) foam industry include KANEKA Corporation, Sonoco Products Company, Pregis LLC., and TART,s.r.o., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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