LONDON--(BUSINESS WIRE)--Global polyethylene foam market will grow by USD 2.19 Billion During 2020-2024.
Amid the COVID-19 pandemic, the global polyethylene foam market registered a YOY growth of 5.24% in 2020 and the market is estimated to expand at a CAGR of over 6% during the forecast period. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios. - Get Free Sample Report to Know More
Polyethylene Foam Market: Growing demand from emerging economies to drive growth
Factors such as the availability of land, cheap labor, low transportation costs, and less stringent government norms are encouraging global automobile manufacturers to shift their manufacturing operations to emerging economies such as Brazil, China, Russia, Turkey, Indonesia, South Korea, Mexico, and India. Besides, changing lifestyles, rising disposable incomes, and rapid increase in industrialization and economic developments in these countries have significantly boosted the growth of various other industries including construction, transportation, electronics, and packaging industries. The growth of these industries is increasing the demand for PE foams, which is driving the growth of the market.
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As per Technavio, the increasing use of PE foam insulation in the construction industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Polyethylene Foam Market: Increasing use of PE foam insulation in the construction industry
PE foams are extensively used in the construction industry owing to their high electrical and thermal insulation properties and resistance to chemicals. Over the years, the proliferation of new chemical factories, rising demand for food processing, petroleum refining, and communication infrastructure have fueled the growth of the construction industry globally. In addition, the increasing number of residential, commercial, and infrastructure projects has significantly increased the demand for insulation materials such as PE foams in the construction industry. Therefore, the growth of the construction industry is expected to positively influence the growth of the polyethylene foam market during the forecast period.
“The increase in the demand for PE foams from the automotive industry and the rising demand for energy-efficient buildings will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Polyethylene Foam Market: Major Vendors
The report covers details on the market’s competitive landscape and offers information on the products offered by various companies, including:
- Armacell International SA
- Dafa AS
- FoamPartner Switzerland AG
- INOAC Corp.
- JSP Corp.
Polyethylene Foam Market: Segmentation Analysis
This market research report segments the polyethylene foam market by Type (XLPE foam and Non-XLPE foam) and Geography (APAC, Europe, North America, MEA, and South America).
The APAC region led the polyethylene foam market in 2020, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as population growth, economic growth, and the rise in disposable incomes.
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Some of the key topics covered in the report include:
Market Share by Competitors
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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