Polyethylene Foams Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2024
Polyethylene foam is a durable and
lightweight material often used for in the packaging of fragile goods
due to its excellent vibration and insulation properties. It also offers
high resistance to chemicals and moisture. Polyethylene foam is easy to
process and fabricate and exhibits high load bearing characteristics
which help manufacturers reduce packaging costs as they can use thinner
and smaller amounts of foam and still protect their products.
Polyethylene foam is developed by thermochemical expansion with
low-density polyethylene resins. The closed cell structure resists water
pick-up and moisture transmission. These foams are resistant to
chemical reactions from water, oil, greases, and common chemicals.
Polyethylene foams are ideal for packaging, surface protection, cold
chain, automotive, sports & leisure, void fill, medical,
construction, military, blocking & bracing, recreational,
agriculture, and archery target applications.
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The
polyethylene foams market is mainly driven by increasing residential
and commercial construction activities caused by rapid urbanization and
increasing income levels and modern attitudes toward home ownership in
several countries. In addition, rising expenditure on commercial and
luxury vehicles in emerging economies is expected to fuel the demand for
polyethylene foams in the automotive sector. The building &
construction industry is likely to witness growth during the forecast
period, driven by investments in new infrastructure development, housing
projects, and renovation of non-residential buildings in emerging
economies, contributing to an increasing demand for polyethylene foams
in various applications.
The
global polyethylene foams market can be categorized into the following:
ethafoam synergy fine cell polyethylene foams, flame-resistant
polyethylene foams, medium & high density foams, and military grade
& recycled content foam. Based on the method of foaming, the market
is classified into the following categories: mechanical foaming, foaming
with hollow glass beads, chemical foaming, and physical foaming. In
terms of application, the polyethylene foams market is divided into the
packaging, surface protection, cold chain, automotive, sports &
leisure, void fill, medical, construction, military, blocking &
bracing, recreational, agriculture, and archery target segments.
Protective packaging is a significant end-use application of
polyethylene foams and accounts for a major market share in terms of
volume.
The global polyethylene
foams market has witnessed decent growth in 2015 and is anticipated to
follow the same trend over the forecast period. Asia Pacific accounted
for a major share in the polyethylene foams market owing to the
availability of inexpensive raw materials, low cost of production, and
the product’s ability to cater to the local emerging market. Besides,
increased demand for premium and better quality products has contributed
to the development of the polyethylene foams market in this region. In
North America, the market is anticipating progression, with three
polymer foams capacity projects already set up in the region. The
domestic market is expanding as well which triggers the exporting of
polyethylene foam products into the remaining parts of the world. In
Europe, the market is bound to experience an upward trend with the U.K,
Germany, and Russia persisting as successful polyethylene foam markets.
Latin America and Middle East & Africa are also projected to create a
strong market for polyethylene foam owing to the recent infrastructure
developments and urbanization in these regions.
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Key
players in the global polyethylene foam market include Armacell
International S.A, Zotefoams Plc., The Dow Chemical Company, and Sealed
Air Corporation.
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