Asia Pacific Expanded Polyethylene (EPE) Foam Market Size By Form (Coils & Rolls, Sheets & Planks, Customized Shapes), By Product (Laminated, Non Laminated), By Application (Packaging, Insulation, Construction, Automotive), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Mar 2020  |  Report ID: GMI4595  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 121   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Asia Pacific Expanded Polyethylene (EPE) Foam Market size was valued at around USD 939.4 million in 2019 and will showcase a growth rate close to 5% CAGR from the period between 2020 to 2026. Proliferating automotive, construction, and electronic industries across the region have led to rising demand for packaging materials and will boost the market growth over the projected time period.
 

Asia Pacific Expanded Polyethylene Foam Market Statistics

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Expanded polyethylene (EPE) foam is a closed cell type, non-crossed linked, moulded semi rigid type of polyethylene foam that is used for several applications including packaging, insulation, among others. EPE foam is produced by low-density polyethylene resin, which has good plasticity, resistance to moisture, toughness, and strong anti-collision characteristics.
 

Asia Pacific Expanded Polyethylene (EPE) Foam Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 938.4 Million (USD)
Historical Data for: 2016 to 2018 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 5.1% 2026 Value Projection: 1,329.2 Million (USD)
Pages: 121 Tables, Charts & Figures: 127
Geographies covered (7): China, Taiwan, India, Japan, Australia, Vietnam, Malaysia
Segments covered: Form, Product, Application, Country
Companies covered (10): Armacell, KANEKA CORPORATION, Sonoco Products Company, RAHIL FOAM PVT LTD, Modern Material Enterprises Co. Ltd., Supreme Industries Limited, Sing Home Polyfoam (Suzhou) Co., Ltd., Kiwi Thermopack, T. G. & Son Corp. LTD., Long Future Co., Ltd.
Growth Drivers:
  • Growing automotive industry in the Asia Pacific region
  • Rising demand for EPE foam in packaging and insulation applications
  • Growth of construction industry and rising importance of green buildings
Pitfalls & Challenges:
  • Limited recycling companies and presence of substitute
  • Fluctuating crude oil prices

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Rising E-commerce industry will propel the material usage

The rising e-commerce industry across the globe has provided lucrative opportunities for Asia Pacific expanded polyethylene foam market expansion over the forecast timeframe. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), in 2017, the internet retailing market share of Asia Pacific was around 47.2%. The share already surpassed the combined share of North America & Europe and is expected to further showcase a significant growth rate.
 

Asia Pacific Expanded Polyethylene Foam Market by Type

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Cell size and cell size distribution are the essential characteristics that enhance the efficiency and performance of EPE foams. The development of several special additives that enhance such characteristics is important in several crucial applications such as insulation, leisure articles, and noise reduction applications. Additives such as Atmer 7300 contain an anti-static agent that enhances mold release performance along with improvement in cell size distribution of the end products.
 

Growing automotive industry coupled with presence of several leading automobile manufacturers such as Toyota, Honda, General Motors, Nissan among others in the region will drive the demand for EPE foam over the study timeframe. Additionally, other European automobile players, such as Volkswagen, BMW, and Daimler AG are having their production facilities across the Asia Pacific.
 

Rising population, increasing purchasing power, and better standards of living create an upsurge in effective mobility and luxurious vehicles. All these will support the Asia Pacific expanded polyethylene (EPE) foam market growth.
 

Fluctuating crude oil prices are posing major threat to the Asia Pacific expanded polyethylene foam market. The expanded polyethylene foam is manufactured by polyethylene (PE) resin, mainly low-density polyethylene (LDPE). The price of PE resins is volatile in nature as it is directly linked to the international crude oil prices, resulting in high fluctuations. Rising geopolitical disputes coupled with growing oil price war between several countries including Saudi Arabia and Russia are bringing frequent price fluctuations in the market.
 

Wide end-user applications and ease in handling will drive usage of EPE foam

Asia Pacific Expanded Polyethylene Foam Market by Form

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EPE foam coils & rolls are widely used in several applications and accounted for over 40% consumption share in 2019. The availability of a wide range of EPE foam coils & rolls, i.e., in various dimensions and colours, along with easy handing of these forms will increase its usage.
 

Coils are mainly used in insulation of AC ducting, air handling units, and split AC. Rising urbanization and the growing usage of chillers & cold storage applications in several end-user industries are expected to drive the Asia Pacific expanded polyethylene foam market demand over the forecast timeframe.
 

Laminated EPE foams demand growing with rising thermal insulation requirement

Laminated EPE foam products hold around 25% of the volumetric share in the Asia Pacific expanded polyethylene foam market. It will showcase a considerable growth owing improved characteristics of these products such as strength and chemical properties. These products are laminated with several materials depending on the foam applications such as HDPE and aluminum, among others.
 

Laminated foams are mainly available with foam thickness lower than 10 mm. These products are used in thermal insulation applications and as foam covers for laptops & other electronic equipment.
 

Packaging applications are amongst the major application consuming EPE foam

Asia Pacific Expanded Polyethylene Foam Market by Application

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The packaging application holds dominance in the Asia Pacific expanded polyethylene (EPE) foam market share owing to the growing e-commerce industry across APAC. This segment will witness prominent gains of over 5.3% CAGR by 2026. EPE foams are widely used in packaging applications owing to excellent weight to strength and shock absorption properties.
 

EPE foams are sustainable and environment friendly. The rising trends toward the usage of such products to minimize adverse environment impacts coupled with the development of new EPE foam packaging materials are expected to drive the demand for EPE foams in the packaging applications.
 

Growing automotive and packaging industry in China are demanding more EPE foam

China holds dominance in the Asia Pacific expanded polyethylene (EPE) foam market, accounting for over half of volumetric shares owing to the growing packaging and automotive industries in the country. The rising automotive production and proliferating online shopping across the country are expected to drive the regional growth.
 

China is amongst the major importers of EPE foam from several Asian and North American industry players. However, ongoing trade war with the U.S., and other health issues are affecting the market and are expected to slow the market growth over the next two to three years.
 

Facility expansion coupled with product developments will form major basis for higher shares of key participants

Industry participants involved in Asia Pacific expanded polyethylene foam market are expanding their production facilities across the Asia Pacific owing to rising demand for advanced EPE foam materials. For instance, in 2018, Supreme Industries Limited expanded its foam production capacity by four kilotons per annum at its Hosur, India Plant to cater to the rising demand from the South Indian market.
 

Some of the key participants in the industry ecosystem are Armacell, KANEKA CORPORATION, Sonoco Products Company, MODERN MATERIAL ENTERPRISES CO., LTD, and Supreme Industries Limited.
 

The Asia Pacific Expanded Polyethylene (EPE) Foam market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2016 to 2026, for the following segments:

Market, By Form

  • Coils & Rolls
  • Sheets & Planks
  • Customized Shapes

Market, By Product

  • Laminated
  • Non laminated

Market, By Application

  • Packaging
  • Insulation
  • Construction
  • Automotive
  • Others

Market, By Country

  • China
  • Taiwan
  • India
  • Japan
  • Australia
  • Vietnam
  • Malaysia

 

Frequently Asked Questions (FAQ) :

According to the report published by Global Market Insights Inc., the Asia Pacific expanded polyethylene foam business is supposed to attain 1329.2 million by 2026.
Growing automotive industry, rising demand for EPE foam in packaging and insulation applications, growth of construction industry, and rising importance of green buildings are the major factors expected to drive the growth of global market.
Armacell, KANEKA CORPORATION, Sonoco Products Company, RAHIL FOAM PVT LTD, Modern Material Enterprises Co. Ltd., Supreme Industries Limited, Sing Home Polyfoam (Suzhou) Co., Ltd., Kiwi Thermopack, T. G. & Son Corp. LTD., Long Future Co., Ltd. are some of the top contributors in the industry.
The laminated EPE foam product segment registered a decent market share in 2019 and is projected to record a remarkable growth rate throughout the forecast period.

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Premium Report Details

  • Published Date: Mar 2020
  • Pages: 121
  • Tables: 94
  • Charts / Figures: 33
  • Companies covered: 10
  • Countries covered: 7

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