February 08, 2022 08:00 ET | Source: Quince Market Insights Quince Market Insights
Pune, India, Feb. 08, 2022 (GLOBE NEWSWIRE) -- The Polyethylene (PE) foam market was estimated to value USD 4,238.48 million in 2021 and is projected to grow at a CAGR of 8.71% during the forecast period, as per a recent comprehensive market study by Quince Market Insights. Foam may be a material or a substance which is formed by tangling pockets of gas during a liquid or solid. Foam are made and prepared by mixing of gas or water with halocarbons or hydrocarbons. To define Polyethylene (PE) foam, it's a type of foam which is made with the combination of carbon dioxide with hot liquid polyethylene (PE) foam.
The blend of gas and polyethylene enables the Polyethylene (PE) foam to realize high, flexible rates. Comparatively, High Performance Polyethylene (HPPE) foam is straightforward to recycle and fabricate.
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Polyethylene foams are used in the building & construction industry in various manner like for roof board, doors, slab, pipe-in-pipe, forging applications. The manufacturers of the automotive industry are continuously trying to reduce the weight of the vehicle in order to improve the performance and fuel consumption, for which polyethylene foams are widely used. These factors will boost the market growth for Polyethylene foam in the next few years.
Unstable prices of the raw material affect the manufacturing as well as the cost structure of the products. Oil prices have been unstable for the past two years owing to the rising global conflict, demand, and foreign military intervention in the Middle East. Such fluctuating raw material prices are some of the restraining factors in the polyethylene foams market.
Major Developments in the Polyethylene (PE) Foam Market
Impact of COVID-19 on Global Polyethylene Foams Market
COVID-19 has made a significant economic impact on various financial and industrial sectors, such as manufacturing, travel and tourism, and aviation. Increasing number of countries extending and imposing lockdowns, financial activities are reducing, which is impacting the global economy.
Social distancing measures, workforce dislocation and supply chain disruption have led to the suspension of construction activities in many countries owing to the shortage of labor and raw materials as well as the disruption of the supply chain. These factors have badly affected the global polyethylene foam market.
On the basis of type, global polyethylene (PE) foam market if bifurcated into Non-XLPE and XLPE. Among these Non-XLPE foam dominates the market. Non-XLPE is also called as non-cross-linked polyethylene foam. Non-XLPE foam is easy to fabricate, it is non-abrasive and resilient. It provides excellent protection from shock and vibration while transporting goods from one place to another.
On the basis of density, global polyethylene (PE) foam market is divided into LDPE Foam and HDPE Foam. LDPE Foam holds the largest share of the polyethylene (PE) Foam market. Low density polyethylene foams is playing magnificent role in minimizing packaging weight and volumes. Investments in research and product development activities have increased at a high pace because of the evolving consumers demand, tightening market landscape, and regulatory landscape.
On the basis of the application, Global Polyethylene (PE) Foam Market is categorized into protective packaging, automotive, building & construction, footwear, sports & recreational, medical. Automotive industry holds the largest share in the projected period as automotive industry is continuously trying to low the weight of the vehicle lower vehicle. Low weight of the vehicle will improve the performance and fuel consumption.
On the basis of sales channel, Global Polyethylene (PE) Foam Market is bifurcated into B2B, B2C, and online retailing. Online retailing dominates the market as e-commerce industry has triggered the growth in logistic industry as well products and goods which are transported to far off places thus propelling the uses and demand of polyethylene in e-commerce industry as well.
On the basis of product type, Global Polyethylene (PE) Foam Market is categorized into ethafoam synergy fine cell polyethylene foam, flame-resistance polyethylene foam, medium and high density foam, military grade and recycled content foam. Ethafoam hold the largest share in the market owing to high resistant to chemical reactions from oil, greases, water, and common chemicals. Ethafoam synergy has outstanding recovery and dimensional stability characteristics that provide optimal cushioning protection against repeated impacts.
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Based on the region, Global Polyethylene (PE) Foams Market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific dominates the market and has emerged as one of the leading consumer and producers of polyethylene foam. In India, low-cost labor, government initiatives, like Make in India, and the proposed scheme on entrepreneurship development may open up opportunities in the infrastructural and industrial segments. Major areas of polyethylene foam in the APAC region are automotive, medical and packaging.
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Browse key industry insights spread across 160 pages with 85 market data tables and 41 figures & charts from the report, “Polyethylene (PE) Foams Market By Type (Non-XLPE and XLPE), By Density (LDPE Foam, HDPE Foam), By Application (Protective Packaging, Automotive, Building & Construction, Footwear, Sports & Recreational, Medical), By Sales Channel (B2B, B2C, Online Retailing), By Product Type (Ethafoam Synergy Fine Cell Polyethylene Foam, Flame-Resistance Polyethylene Foam, Medium and High Density Foam, Military Grade and Recycled Content Foam), and By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Market Size & Forecasting To 2030, in-depth analysis along with the table of contents (ToC).”
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