(MENAFN- America News Hour)
“The market for polyethylene foam is expected to grow at a CAGR of over 3% during the forecast period. The major factor driving the growth of the market is the increasing demand from the packaging application due to its excellent impact bearing capability. On the flip-side, unfavorable conditions arising due to the COVID-19 outbreak is restricting the market growth during the period of forecast.
Packaging application is anticipated to dominate the polyethylene foam market owing to its excellent properties such as lightweight, resistant to moisture and heat, frost protection, shock and vibration absorbance, etc.
Asia-Pacific region is expected to be the largest market for the polyethylene foam market because of the high demand from various industries in the region.
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Key Market Trends
High Demand of Polyethylene Foam in Packaging Application
– The use of polyethylene foam is done extensively in the application of packaging. It is a versatile, closed-cell type foam whose structure is made up of minor air pockets. Its properties such as lightweight, heat insulation, incredible shock and vibration resistance, etc. make it suitable for packaging purposes.
– Furthermore, it also provides great resistance to weather and oil and can be used in carrying different kinds of goods that are susceptible to weathering and oil-related threats. Few of these foams also comply with FDA food contact regulations.
– The value of the luxury packaging market in North America is estimated to be USD 3.68 billion in 2019 and is forecasted to reach a value of nearly USD 4.9 billion by 2025.
– All the aforementioned factors are expected to drive the polyethylene foam demand from packaging application during the forecast timeframe.
Asia-Pacific to Dominate Polyethylene Foam Market
– Asia-Pacific region holds a prominent share in the polyethylene foam market globally and is expected to grow during the period of forecast.
– The market value of the packaging of luxury brands in Asia-Pacific is estimated to be around USD 4.78 billion in 2019 and this value is predicted to reach USD 7.02 billion by 2025.
– Asia-Pacific region holds 46% of the global expenditure in the building & construction sector. Polyethylene foam is utilized in building & construction for pipe-in-pipe, entryways, rooftop sheets, and slabs. Its properties such as good thermal insulation and frost protection, good flexibility, etc. are used for various applications in the construction industry.
– Polyethylene foam is also used in pharmaceutical packaging as these are non-toxic, and latex-free foam. Countries such as Japan, China, and South Korea are expected to dominate the pharmaceutical sales market in the Asia-Pacific region with a total sales value of USD 150.44 billion, USD 149.92 billion and USD 40.27 billion, respectively.
– Thus, owing to the aforementioned factors, polyethylene foam market is expected to grow substantially in the Asia Pacific region during the forecast period.
The polyethylene foam market is partially consolidated. Some of the players in the market include PAR Group, Sealed Air, Zotefoams plc, Thermotec, and DAFA US Inc.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 High Demand of Polyethylene Foam in Packaging Application
4.1.2 Other Drivers
4.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1.1 XLPE Foam
5.1.2 Non-XLPE Foam
5.3 End-user Industry
5.3.2 Building & Construction
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.4.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.4 South America
184.108.40.206 Rest of South America
5.4.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 PAR Group
6.4.2 Sealed Air
6.4.3 Zotefoams plc
6.4.7 Wisconsin Foam Products
6.4.8 DAFA US Inc.
6.4.9 Pregis LLC
6.4.10 Hira Industries LLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS”
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