Polyethylene Foam Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Polyethylene Foam Market Analysis
During the time frame of the forecast, the polyethylene foam market is expected to grow at a CAGR of more than 3%.
Demand for protective packaging, thermal insulation, and cushioning solutions drove growth in the polyethylene foam market during the COVID-19 pandemic. The emergence of e-commerce and subsequent online delivery necessitated more robust packing options, fueling the expansion of the polyethylene foam industry. During the pandemic, there was also an uptick in the need for products that provide thermal insulation and cushioning for hospital equipment and supplies. In general, the polyethylene foam industry benefited from the COVID-19 epidemic.
- The market is growing because people are using it more and more for packaging, which needs it because it can take a lot of hits.
- On the other hand, unfavorable conditions caused by the COVID-19 outbreak slowed market growth during the forecast period.
- Packaging applications are anticipated to dominate the polyethylene foam market due to its excellent properties, such as its lightweight nature, resistance to moisture and heat, frost protection, and shock and vibration absorbance.
- Due to the high demand from different industries in the region, the polyethylene foam market is expected to be biggest in Asia-Pacific.
Polyethylene Foam Market Trends
This section covers the major market trends shaping the Polyethylene Foam Market according to our research experts:
High Demand of Polyethylene Foam in Packaging Application
- Polyethylene foam is widely used in the application of packaging.It is a versatile, closed-cell type of foam whose structure is made up of minor air pockets. Its properties, such as its lightweight nature, heat insulation, and incredible shock and vibration resistance, make it suitable for packaging purposes.
- Furthermore, it provides great resistance to weather and oil and can be used for 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.
- Polyethylene foam is often used to preserve the freshness and quality of processed food that is exported. Foam is a lightweight and durable substance that keeps food undamaged and fresh for longer. Polyethylene foam is widely used as a cushioning material in shipping containers and for food product packaging.
- According to the United States Department of Agriculture (USDA), in 2021, exports of processed foods from the United States totaled 34.24 billion dollars, up 13% from the previous year. Furthermore, exports of prepared foods from the United States totaled 13.88 billion dollars, up 11% from the previous year.
- As a result, all of the above factors are expected to drive polyethylene foam demand from the packaging application during the forecast period.
Asia-Pacific to Dominate Polyethylene Foam Market
- Asia-Pacific has a big share of the global polyethylene foam market, which is expected to grow over the next few years.
- Asia-Pacific accounted for a major chunk of global construction spending. In the construction industry, polyethylene foam is used for pipe-in-pipe, doors, roofing sheets, and slabs. The building sector makes extensive use of its qualities, which include high levels of thermal insulation, resistance to frost, and pliability.
- Polyethylene foam is commonly used for cushioning and padding in furniture. It's widely used because of its reliability, affordability, and portability. It is possible to mold and densify polyethylene foam for use in the furniture industry. It can be used to soften the feel of chair and couch seats, armrests, and backs. It's also used in pillowcases and mattress pads. China will have earned more than USD 70 billion from furniture exports by 2021.
- Packaging materials for medical gadgets often consist of polyethylene foam. Shipping and storing equipment are easier knowing that they are protected by foam. Polyethylene foam is a good choice for packing medical supplies since it is lightweight, cushiony, and shock-absorbing. Medical equipment of the highest precision needs to be shielded by the soft, flexible foam.
- India is one of the leading nations for medical equipment manufacturing. Exports of medical devices from India have expanded greatly over the years. According to the India Brand Equity Foundation, in 2021, medical device exports from India were valued at USD 2.53 billion and were expected to surpass USD 10 billion by 2025.
- Pharmaceuticals are often packaged in polyethylene foam since it is non-toxic and latex-free. The pharmaceutical market in Asia Pacific is likely to be led by countries like Japan, China, and South Korea, with China and Japan collectively accounting for more than 15% of the global pharmaceutical market.
- So, because of the above factors, the Asia-Pacific polyethylene foam market is expected to grow a lot over the next few years.
Polyethylene Foam Industry Overview
The polyethylene foam market is partially consolidated. Some of the players in the market are PAR Group, Sealed Air, Zotefoams PLC, Thermotec, and DAFA US Inc.
Polyethylene Foam Market Leaders
PAR Group
Sealed Air
Thermotec
DAFA US Inc.
Zotefoams PLC
*Disclaimer: Major Players sorted in no particular order
Polyethylene Foam Market News
- February 2023: Sealed Air Corp. acquired Liqui Box for a purchase price of USD 1.15 billion. Liqui Box is a manufacturer of sustainable fluid and liquid packaging and dispensing technologies in bag-in-box packaging.
- November 2022: Zotefoams PLC, an industrial plastics company based in London, acquired Refour APS. The company believes that by incorporating Refour's expertise, technology, and equipment, it will be able to speed up the development of the entirely recyclable mono-materials it is working on through its MuCell Extrusion division.
Polyethylene Foam Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 High Demand of Polyethylene Foam in Packaging Application
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 XLPE Foam
5.1.2 Non-XLPE Foam
5.2 By Application
5.2.1 Cushioning
5.2.2 Packaging
5.2.3 Other Applications
5.3 By End-user Industry
5.3.1 Automotive
5.3.2 Building and Construction
5.3.3 FMCG
5.3.4 Pharmaceutical
5.3.5 Other End-user Industries
5.4 By Geography
5.4.1 Asia Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 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 Armacell
6.4.2 DAFA US Inc.
6.4.3 Hira Industries LLC
6.4.4 JSP
6.4.5 PAR Group
6.4.6 Pregis LLC
6.4.7 Sealed Air
6.4.8 Thermotec
6.4.9 Wisconsin Foam Products
6.4.10 Zotefoams PLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Polyethylene Foam Industry Segmentation
Polyethylene foam is a closed-cell, durable, and lightweight protective material used for packaging industrial products. The polyethylene foam market is segmented by type, application, end-user industry, and geography. By type, the market is segmented into XLPE foam and non-XLPE foam. By application, the market is segmented into cushioning, packaging, and other applications. By end-user industry, the market is segmented into automotive, building and construction, FMCG, pharmaceutical, and other end-user industries. The report also covers the market sizes and forecasts for the polyethylene foam market in fifteen countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million) for all the above segments.
| By Type | |
| XLPE Foam | |
| Non-XLPE Foam |
| By Application | |
| Cushioning | |
| Packaging | |
| Other Applications |
| By End-user Industry | |
| Automotive | |
| Building and Construction | |
| FMCG | |
| Pharmaceutical | |
| Other End-user Industries |
| By Geography | |||||||
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Polyethylene Foam Market Research FAQs
What is the current Polyethylene Foam Market size?
The Polyethylene Foam Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Polyethylene Foam Market?
PAR Group, Sealed Air, Thermotec, DAFA US Inc. and Zotefoams PLC are the major companies operating in the Polyethylene Foam Market.
Which is the fastest growing region in Polyethylene Foam Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Polyethylene Foam Market?
In 2024, the Asia-Pacific accounts for the largest market share in Polyethylene Foam Market.
What years does this Polyethylene Foam Market cover?
The report covers the Polyethylene Foam Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Polyethylene Foam Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Polyethylene Foam Industry Report
Statistics for the 2024 Polyethylene Foam market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Polyethylene Foam analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
