CHICAGO, Jan. 8, 2021
CHICAGO, Jan. 8, 2021 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets™, the market will grow to USD 4.5 billion by 2025 from USD 3.3 billion in 2020, at a CAGR of 6.1% during the 2020-2025 period. The market is driven by increasing demand from packaging, automotive, and building & construction industries.
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Growing awareness about high-quality products and demand from APAC, the Middle East & Africa, and South American countries are also driving the market. The emerging economies, such as India, China, Brazil, Southeast Asia, and Mexico, are expected to be the most lucrative destinations for polyethylene foams market.
Non-XLPE is projected to be the largest segment of the polyethylene foams market.
Non-XLPE foam is easy to fabricate, and it is both non-abrasive and resilient. This PE foam provides excellent shock and vibration protection during product transport. Non-XLPE foam has good flotation properties and is also water resistant for recreational and sporting applications. It has good thermal insulation properties and has the added benefit of being recyclable. Also, it is a great alternative to more traditional types of packaging like corrugated paper etc.
Medical is the fastest-growing application segment of the polyethylene foams market.
Medical is the fastest growing end-use application in polyethylene market, in terms of volume. In the medical industry, all products are handled with intensive care. 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 is extensively used in the medical device industry to package and protect surgical instruments, implants and other surgical devices, both inside and outside of a sterile barrier system.
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APAC is the largest polyethylene foams market globally.
APAC is projected to lead the polyethylene foams market during the forecast period which is driven by high economic growth and heavy investments in packaging, automotive, building & construction, and manufacturing industries. Its growing middle-class population plays an important role in driving various industries, which has led to industrialization and the manufacturing of various products that require PE foam. The demand for premium and better-quality products is increasing in the region with the growth in the middle-class population.
The polyethylene foams market comprises a network of players involved in the research and product development; raw material supply; component manufacturing; distribution and sale; and post-sales services. Key players considered in the analysis of the polyethylene foams market are Armacell (Germany), JSP (Japan), Zotefoams Plc. (U.K), The Dow Chemical Company (U.S.), Sealed Air Corporation (U.S.), INOAC Corporation (Japan), Thermotec (Australia), Wisconsin Foam Products (U.S.), Trecolan GmbH (Germany), and PAR Group (U.K.).
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Medical Foam Market by Form (Flexible, Rigid, Spray), Material (Polymers, Latex, Metals), Application (Bedding & Cushioning, Medical Packaging, Medical Devices & Components, Prosthetics & Wound Care), and Region
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