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″, size 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. 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.
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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 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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The polyethylene foams market is projected to grow from USD 3.3 billion in 2020 to USD 4.5 billion by 2025, at a CAGR of 6.1% between 2020 and 2025. The market is propelled by the growth of various end-use industries. Increasing investments in use for polyethylene foams in protective packaging, infrastructure, new housing projects, and renovation of non-residential buildings in China, India, and Brazil have also boosted the market growth.
The key players operating in the market are Armacell LLC (Luxembourg), JSP (Japan), Zotefoams PLC (UK), Sealed Air (US), and Recticel N.V. (Belgium). These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, and partnership & agreement to grow in the market. Investment & expansion was the key strategy adopted by the major players between 2016 and 2020. This strategy helped companies increase their geographic presence.
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Armacell LLC is an inventor of flexible elastometric foams for equipment insulation. They develop innovative and safe thermal, acoustic and mechanical solutions that create sustainable value for its customers. They focus on insulation materials for technical equipment, high-performance foams for high-tech and lightweight applications and next generation aerogel blanket technology. The company has two business units called advanced insulation and engineered foams. In August 2018, Armacell acquires Guarto, a manufacturer of acoustic insulation solutions. The acquisition of Guarto extends Armacell’s footprint in Italy, enabling to reinforce their leadership in the fast growing acoustic insulation industry. Furthermore, they are adding new production capacities to their product portfolio and improved customer service in Italy.
Zotefoams PLC is one of the largest manufacturer of lightweight crosslinked polyolefin block foams, sell and licenses high-performance products and materials technology. The company has three business segments: polyolefin foams, HPP (High-Performance Products), and MEL (MuCell Extrusion LLC). Their products are used across extensive range of markets including aerospace, automotive, industrial parts, product protection, marine, military, building & construction, medical, leisure, and sports. In May 2019, Zotefoams boosts product protection foams line-up with two new Plastazote grades. Plastazote, a low-density polyethylene foam range in AZOTE family, has set the standard for protection of products in transit, long-term storage and conversation applications due to its light weight, aesthetic qualities, excellent impact resistance and compatibility with wide range of processing techniques.
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