NEW YORK, Jan. 18, 2017 /PRNewswire/ -- "Growing demand for PE foams from automotive and building & construction end-use applications"
The polyethylene foams market is projected to reach USD 6.85 billion by 2021, at a CAGR of 5.9% between 2016 and 2021. The polyethylene foams market in mainly driven by the increasing residential and commercial construction activities, owing to rapid urbanization, supported by increasing income levels and modern attitudes to home ownership in several countries. In addition, increasing expenditure on commercial and luxury vehicles in emerging economies such as China, India, South Korea, and Argentina is expected to propel the demand for PE foams in the automotive end-use application.
"Non-XLPE is the major type segment of the polyethylene foams market"
Non-XLPE foam material is recommended for high-value products of over 10 kilograms; this material also helps in the production of cost-effective cartons, thereby reducing shipping costs. It is mostly used in packaging and building & construction end-use applications. The building & construction industry is expected to witness the highest growth during the forecast period, driven by huge investments in new infrastructure developments, new housing projects, and renovation of non-residential buildings in the U.S., China, India, and Brazil. This, in turn, has contributed to the increasing demand for polyethylene foams in varied end-use applications.
"Rising demand for PE foams in the Asia-Pacific region is a major driver for the polyethylene foams market"
The polyethylene foams market in the Asia-Pacific region is anticipated to witness significant growth during the forecast period, owing to availability of inexpensive raw materials, low cost of production, and ability to cater to the local emerging market. In addition, increased demand for premium and better-quality products has contributed to the growth of the polyethylene foams market in this region.
Breakup of primary interviews:
- By Company Type - Tier 1 – 35%, Tier 2 – 30%, and Tier 3 – 35%
- By Designation - C Level – 45%, D Level – 33%, and Others – 22%
- By Region - North America – 28%, Europe – 22%, Asia-Pacific – 20%, South America - 13%, and Middle East & Africa – 17%
Key companies profiled in this market research report include Armacell (Germany), JSP (Japan), Zotefoams Plc. (U.K), The Dow Chemical Company (U.S.), Sealed Air Corporation (U.S.), INOAC Corporation (Japan), Thermotec (Australia), Wisconsin Foam Products (U.S.), Trecolan GmbH (Germany), and PAR Group (U.K.).
The polyethylene foams market report covers three different segmentations that include type (Non-XLPE and XLPE), end-use application (protective packaging; automotive; building & construction; footwear, sports & recreational; medical; and others), and region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The type segment is further analyzed for each country in the respective regions.
Reasons to buy the Report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players, value chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the polyethylene foams market; high-growth regions; and market drivers, restraints, opportunities, and challenges.