Polyethylene (Pe) Foams Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

The global polyethylene (PE) foams market is estimated to expand at a compounded annual growth rate (CAGR) of 5.8% during the forecast period of 2022-2030.

Polyethylene foams are foams made by mixing carbon dioxide and hot liquid polyethylene (PE). These foams are durable and lightweight and acquire high load-bearing and resistive characteristics, making them a highly preferable commodity for packaging delicate goods among several end-use industries, including packaging, medical, and automotive.

Growth Drivers:

Factors primarily driving the global polyethylene (PE) foams market include: the expanding trade across the globe; the burgeoning demand and application of polyethylene foams across several end-use industries; the rising construction business in both residential and commercial properties sector due to rapid urbanization; the soaring expenditure on commercial & luxury vehicles, especially in developing countries; and the growing consumer spending on packaged goods across the globe.

Additionally, with the rapid penetration of the e-commerce industry across the globe, the online retailing segment has been surging at a colossal rate over the last few years. This has given rise to an increased movement of products from one place to another. Consequently, polyethylene (PE) foams are witnessing huge demand as they aid in offering cushioning to goods by absorbing shocks and hits while on transit. Thus, with the rise in the penetration of e-commerce and the expansion of the online retailing segment and the logistics industry, the market for polyethylene (PE) foams is expected to gain swift growth in the next few years.

Furthermore, other factors such as the surging income levels of individuals worldwide; the increasing investment by individuals towards homeownership in various countries; the escalating adoption of recycling of polyethylene (PE) foams, and the proliferating demand for CO2-based polyols across the globe are expected to further augment the growth of the global polyethylene (PE) foams market during the forecast period.

However, factors such as volatility in raw material prices, strict government regulations, and the toxic properties of polyethylene (PE) foams may restrain the growth of the market during the forecast period.

Polyethylene (PE) Foams Market Segmentation:

By Type:

·         Non- XLPE

·         XLPE

By Density:

·         LDPE Foam

·         HDPE Foam

By End-use Industry:

·         Protective Packaging

·         Automotive

·         Building & Construction

·         Footwear, Sports & Recreational

·         Medical

·         Others

o   Aviation & Aerospace

o   Marine

o   Refrigeration

o   Electrical & Electronics

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Based on type, the non-XLPE segment held the largest share of the global polyethylene (PE) foams market in 2021. The segment is expected to retain its dominance further in the market during the forecast period of 2022-2030. The beneficial properties of non-XLPE foams, including floatation and thermal insulation properties, ease of fabrication, recyclability, non-abrasiveness, resilience, ability to provide excellent shock and vibration protection during product transport, water-resistance for sporting and recreational applications, are majorly attributed to the large market share of this particular segment.

Based on end-use industry, the protective packaging segment acquired the largest share of the global polyethylene foams market in 2021, followed by the automotive segment. The segment is predicted to remain dominant throughout the forecast period of 2022-2030. The extensive usage of protective packaging in a wide variety of applications, the growing technological advancements in material options, the rising consumer spending on packaged goods, and the rapid expansion of e-commerce are the key factors driving the growth of this segment. However, the medical segment is projected to attain the highest CAGR in the market during the forecast period.  The growing usage of XLPE foams in medical applications and the increasing need for intensive care of medical products are the major factors attributable to the segment’s growth.

Regional Outlook:

The Asia Pacific region captured the largest share of the global polyethylene (PE) foams market in 2021. The segment’s position is likely to remain unchanged during the forecast period of 2022-2030. Factors such as the expanding construction, logistics, and healthcare industry; the high production and usage of polyethylene (PE) foams; the rapid growth in protective packaging; the escalating investments in various end-use industries; the growing shifting of production facilities from different countries to this region, and the presence of well-established market players in the region. Moreover, the easy availability of low-cost labor and materials, the increasing number of government initiatives, and the rising middle-class population with high disposable incomes are also expected to significantly contribute to the growth of the region's polyethylene (PE) foams market during the forecast period. India, China, Japan, and South Korea are the major contributors to the growth of the market in the region.

The North American region accounted for the second-largest share of the global polyethylene (PE) foams market in 2021, followed by Europe, Middle East Africa, and Latin America. The region is projected to experience significant growth during the forecast period on account of factors such as the presence of various marquee players, the burgeoning expenditure on commercial and luxury vehicles, and the escalating growth of several-end user industries in the region. The U.S. and Canada stand as the leading contributors to the growth of the market in the region.

The European region also held a substantial share of the global polyethylene (PE) foams market in 2021. The region is predicted to witness massive expansion during the forecast period, mainly due to the existence of a robust manufacturing and service industry in the region.

Key Companies in Polyethylene (PE) Foams Market:

·         The DOW Chemical Company

·         Thermotec

·         Trecolan GmbH

·         Wisconsin Foam Products

·         Recticel NV/SA

·         BASF SE

·         DAFA A/S

·         PalzivArmacell

·         JSP

·         Zotefoams

·         Inoac Corporation

·         PAR Group

·         Sealed Air Corporation

·         Protac Inc.

·         Pregis LLC

·         Mitsui Chemicals America Inc.

·         Kaneka Corporation

·         Toray Industries Inc.

·         Other Players