Polyethylene (PE) Foams Market worth $4.8 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 23, 2021 /PRNewswire/ -- According to the report "Polyethylene (PE) Foams Market by Type (Non-XLPE and XLPE), Density (LDPE,HDPE), End-Use Application (Protective Packaging, Automotive, Building & Construction, Footwear, Sports & Recreational, Medical), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Polyethylene Foams Market is projected to grow from USD 3.6 billion in 2021 and is projected to reach USD 4.8 billion by 2026, at a CAGR of 6.0%, between 2021 and 2026 period. The driving factor for the polyethylene foams market is growth in end-use industries and high growth in APAC.
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Protective packaging is the largest end-use industry of Polyethylene foams market.
Protective packaging is used in a wide variety of applications, including fruits & vegetables, automotive, aerospace, appliance, electronics, and pharmaceuticals. It is used for safeguarding and shielding a core product from damages during transportation or storage. The aggressive growth of e-commerce, along with technological improvements in material options, is changing the way how most companies are picking their protective packaging solutions. Economic growth and demographic change are major factors driving the packaging industry. Incomes are expected to rise, which will lead to an increase in consumer spending on packaged goods as well as strengthening the middle-class population to engage in global brands and shopping habits. Another driving factor for the packaging industry is the increase in the demand for pharmaceutical products due to rising life expectancy, especially in developed markets, for instance, Japan.
Medical is the fastest-growing end use application of the polyethylene foams market.
Medical is the fastest-growing end-use application segment of the polyethylene foams market, in terms of volume. In the medical industry, all products need to be handled with intensive care. XLPE foams are unique, closed-cell materials used widely to create medical packaging solutions. The XLPE foam is hypoallergenic, non-toxic, and latex-free and can also be used in operating rooms. It has a cushion-like feeling, is water-resistant, and has the capability of being gamma-sterilized to be used with medical devices. It is extensively used in the medical device industry to package and protect surgical instruments, implants, and other surgical devices, and in 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 and this dominance is expected to continue till 2026. The market in the region is witnessing high growth in protective packaging, automotive and medical. The key markets in the region include China, India, Japan and South Korea. India, China, and Indonesia are investing heavily in various end-use industries, which is likely to influence market growth.
The key players profiled in the polyethylene foams market report are Armacell (Luxembourg), JSP (Japan), Sealed Air (US), Zotefoams PLC (UK), and Recticel NV (Belgium).
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