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Global Polyethylene Foam Market to Grow at a CAGR of 6.13% During 2022-2027, Aided by its Rising Usage Across Various End-Use Industries

According to a new report by EMR titled, ‘Global Polyethylene Foam Market Report and Forecast 2021-2026’, the market attained a value of over USD 3.42 billion in 2021. The industry is further expected to grow at a CAGR of 6.13% in the forecast period of 2022-2027 to reach a value of more than USD 4.86 billion by 2027.

The Asia Pacific region is expected to hold a significant share in the overall market growth of polyethylene foam. This can be associated with the rising constructional activities in countries like India and China as a result of robust urbanisation and industrialisation. Polyethylene foams are utilised in pipe-in-pipes, rooftop sheets, and entryways. In addition to this, the inflating disposable incomes and the rising standards of living is propelling construction and re-construction activities hence invigorating the demand for polyethylene foams for high durability, resistivity to moisture, and thermal insulation, among others. Furthermore, owing to the flourishing e-commerce industry in the region, the increasing demand for polyethylene foams in logistics, packaging, and transportation is generating robust opportunities for the growth of the market.

Braskem and Innovak, together with the Flex mattress manufacturer in Brazil, recently carried out a study assessing the Zeeflex technology produced by Innovak based on expanded polyethylene foam in October 2021. The study showed that mattresses produced with polyethylene foam technology generate 12% less environmental impact than ordinary mattresses. The study also showed that there is a 36% reduction in water usage, along with a 19% reduction in carbon emissions. Such studies and developments by leading market players are contributing to the market growth of the polyethylene foams. The market is further witnessing growth with the expansion of key market players, such as Zotefoams Plc (LON: ZTF).

Market Analysis by Type, Density, End-User, and Region:

  • On the basis of type, the market can be divided into XLPE foam and non-XLPE foam. 
  • Based on density, the market can be segmented into high-density polyethylene, low-density polyethylene, linear low-density polyethylene. 
  • The market, based on end-user, can be categorised into automotive, building and construction, fast-moving consumer goods (FMCG), and pharmaceuticals, among others.
  • The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the rise in public and residential construction activities owing to increasing living standards, rising populations, and rapid urbanisation and industrialisation. 
  • Excellent thermal insulation, moisture resistance, and sound absorption properties make polyethylene foams suitable for house and commercial construction projects, hence invigorating the market growth.
  • Polyethylene foams for packaging purposes such as medical packaging, and food and beverage packaging due to increasing concerns regarding health and hygiene and busy lifestyles are propelling the growth of the industry.
  • The rise in e-commerce sector is augmenting the demand for polyethylene foams in logistics, packaging, and transportation thereby stimulating market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global polyethylene foam industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) markets for types, densities, end-users, and major regions.
  • It assesses the regional price trends for the (2017-2021) and (2022-2027) periods. 
  • The market report also analyses the trade data by covering the major importing and exporting countries. 
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global polyethylene foam market are Wisconsin Foam Products, Armacell International S.A., Hira Industries LLC, Zotefoams Plc, and Pregis LLC, 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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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