The new report by Expert Market Research titled, ‘Global Polyethylene Foam Market Size, Share, Growth, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global polyethylene foam market, assessing the market based on its segments like type, end use, density, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 3.42 billion
- Forecast CAGR (2023-2028): 6.13%
- Forecast Market Size (2026): USD 4.86 billion
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The growth of the global market for polyethylene foam is being driven by the increasing demand from construction industry. The growing application of polyethylene foams in various infrastructural projects owing to its physical properties such as moisture resistance, thermal insulation, and sound absorption, among others are anticipated to propel the demand over the forecast period.
Additionally, factors such as inflating disposable incomes, increasing urbanisation and industrialisation, rising construction and renovation activities globally are likely to bolster the demand of polyethylene foam. However, looking forward the negative impact of polyethylene foams on environment may hinder the market growth in the coming years.
Polyethylene Foam Industry Definition and Major Segments
Polyethylene foam refers to a durable, lightweight closed-cell foam which provides water resistance. Polyethylene foam is obtained by various polymer compounds and finds application across various end use industries.
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The market, based on type, can be segmented into:
- XLPE Foam
- Non-XLPE Foam
On the basis of density, the market can be categorised into:
- High-Density Polyethylene
- Low-Density Polyethylene
- Linear Low-Density Polyethylene
Based on end-user, the market can be divided into:
- Automotive
- Building and Construction
- Fast-Moving Consumer Goods (FMCG)
- Pharmaceutical
- Others
The regional markets for polyethylene foam include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Polyethylene Foam Market Trends
Regionally, the Asia Pacific is anticipated to witness the fast growth rate and dominate the global market for polyethylene foams. This can be attributed to rapid urbanisation and industrialisation in emerging economies such as India and China.
Additionally, factors such as availability of cheap raw materials, low-cost labour, and various government initiatives such as Make in India, by Indian government, are likely to boost the local production of polyethylene foams. Moreover, rising shift production bases of global players in North America and Europe to Asia Pacific due to less stringent regulations is further anticipated to bolster the regional growth over the forecast period.
Key Market Players
The major players in the market are Wisconsin Foam Products, Armacell International S.A., Hira Industries LLC, Zotefoams Plc, Pregis LLC, and a few others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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