Expanded Polyethylene (EPE) Foam Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4027
Expanded Polyethylene (EPE) Foam Market size will witness significant growth in the coming years owing to extensive use of the product in many end-use industries such as packaging, automotive, construction, etc.
EPE is a molded, closed-cell, non-crosslinked, semi-rigid polyethylene foam. These foams are flexible, non-abrasive, strong, lightweight, highly resilient, non-dusting, odorless, weather resistant, puncture resistant, non-corrosive, chemically inert, cost-efficient, and buoyant. Properties such as thermal insulation; recyclability; dimension stability; uniform structure; sonic transmission control; vibration dampening; shock & impact absorption; shatter proofing; resistance against grease, chemical, bacteria, oil, mold, solvent; excellent compressive creep properties, etc. makes them suitable for a wide range of end-use applications.
One of the major factors driving the growth of expanded polyethylene foam market is the growing packaging industry. EPE is widely used in packaging industry for dust covers, corner pads, customized foam packaging buffers, anti-static packaging covers, fragile item packaging, etc. Apart from that, EPE is also used in the packaging of machinery, electronics and consumer durables. Global packaging industry is growing at a high rate, chiefly driven by the growing many end-use industries including pharmaceutical, FMCG, food processing, etc. and the escalating demand of packaging in the emerging economies such as China, India, Brazil, Russia etc.
Asia is the fastest growing packaging market owing to high packaging consumption led by China and India. The augmented packaging consumption can be attributed to the increasing spending power, growing populations, and a swift change in preference to packaged consumer goods from the traditional markets, especially in the e-commerce and food segment. China and India combinedly will have majority of the share in the growth of the global packaging consumption by 2022. The growth of global packaging industry will prosper the EPE foam market demand in near future.
Another factor propelling expanded polyethylene foam market is the use of product in construction industry. EPE is use in expansion joint-fillers, foundation wraps, false ceiling, water proofing for roof, structural glazing, etc. Increasing construction activities in BRICS will drive the growth of global construction industry. Increasing residential as well as commercial construction activities coupled with major construction and infrastructure projects including Beijing Airport, Al Maktoum International Airport in Dubai, etc. will further boost the global construction industry which in turn, will propel the EPE foam market demand in coming years. One major advantage associated with EPE is its eco-friendly nature & recyclability as it is free from CFC, which makes them suitable for green-building construction, a trend to look out in coming years.
Global expanded polyethylene foam market is segmented based on product type, application and region. Based on product type, the market is segmented into coils & rolls, sheet and others which include planks, customized shapes, etc. EPE sheets have excellent heat insulation, water proofing tendency, buoyancy, etc. which will result in the significant market share of the segment. Additioanlly, strong growth in flexible packaging sector on account of rapidly growing package food and consumer durables will positively influence the overall expanded polyethylene foam market size over the forecast timeframe.
Based on application, EPE foam market is segmented into packaging, insulation, construction, automotive and others which include sports and miscellaneous applications such as carpet underlays, bag linings, shoes, etc. Insulation application segment will have significant market share owing to the extensive usage of product for insulation of split or window AC, AC ducting, industrial chillers, air handling units, etc.
In the regional segment, Asia Pacific EPE foam market is likely to witness highest growth rate owing to the wide range of application of EPE in the rapidly growing regional industries such as packaging, automotive, construction, etc. The overall automotive production and sales has been witnessing robust growth on account of improving socio-economic dynamics of middle-class population in Asian countries such as China, India and Indonesia. For instance, China automotive production accounted close to 30% of the global automotive production in 2018.
Some of the key market players in expanded polyethylene foam market are Kaneka, Sonoco, Rhyno foams, Pregis, Sansheng, Wuxi Huitong, Sing Home Polyfoam, Supreme Industries Limited, etc.
Expanded Polyethylene (EPE) Foam Market, By Product, 2014-2025
Expanded Polyethylene (EPE) Foam Market, By Application, 2014-2025
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Rhyno foams
- Pregis, Sansheng
- Wuxi Huitong
- Sing Home Polyfoam
- Supreme Industries Limited,
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