Expanded Polyethylene (EPE) foam are used mainly for protecting equipment from damage during transportation. Thus, increasing electronic equipment & appliances sales in Asia Pacific will complement APAC EPE market growth.
Selbyville, Delaware, March 26, 2020 (GLOBE NEWSWIRE) -- According to the latest research report published by Global Market Insights, Inc, the Asia Pacific expanded polyethylene foam market size was valued at US$ 939.4 million in 2019 and is projected to be worth US$ 1.3 billion by 2026, recording an annual compound growth rate of 5% from 2020 to 2026. The report provides a detailed analysis of the market size & estimations, drivers & opportunities, top winning strategies, wavering market trends, major investment pockets, and competitive scenarios.
Growing urbanization coupled with a growing trend of online shopping across the region will support the Asia Pacific expanded polyethylene foam market growth over the forecast timeframe. Further, increasing concern for sustainable cities leading to the construction of green buildings is propelling the product demand. As EPE foams exhibit excellent thermal insulation, they help in minimizing the energy consumption of buildings. Moreover, they possess superior vibration dampening properties, which find usage in sound-proofing rooms.
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Sheets & planks will showcase a substantial growth of 3.2% in terms of volume in the Asia Pacific expanded polyethylene (EPE) foam market share. Planks possess higher shock absorption, dampening, vibration, and surface protection characteristics. Additionally, the sheets are also used for marine buoyancy applications. Rising water sports activities coupled with the growing demand for industrial tolls will support industry expansion over the study timeframe.
Laminated EPE foams are mainly used to improve the aesthetic & cushioning properties of the final products. Laminate sheets & rolls are available as single side & multi-layer laminating rolls. The laminated rolls are mainly available as low thickness rolls for packaging applications. Additionally, they are also used as an underlay for flooring applications.
Growing automobile production owing to the rising need for better mobility and increasing socio-economic factors in the region will complement the APAC expanded polyethylene (EPE) foam market demand for automotive applications. On account of their exceptional sound dampening characteristics, these foams find usage in car carpet underlay, sun visors, rooftops, and cushioning seat linings. Moreover, they are light in weight, non-toxic, and offer high durability, thus they are considered a preferred foam option in automobiles.
Vietnam will showcase significant growth with over 4% CAGR by 2026. Several companies such as NIKE are shifting its production from China to Vietnam owing to political issues of China with several countries. Additionally, advantages gained due to trade agreements of the country with several regions across the globe will drive the in the Asia Pacific expanded polyethylene (foam market share.
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Some of the major findings in Asia Pacific Expanded Polyethylene (EPE) Foam Market report include:
- The industry is fragmented and highly competitive in nature owing to the presence of several domestic and international manufacturers
- The increasing trend of using environment-friendly cushioning materials coupled with the development of new materials will drive product demand
- Proliferating e-commerce and automotive industry across the Asia Pacific region are supporting the industry expansion
- Industry players are expanding their production facilities across the region and engaged in developing innovative materials that will enhance foam characteristics, thereby supporting market growth
Some of the key participants involved in the Asia Pacific expanded polyethylene (EPE) foam industry include, Supreme Industries Limited, MODERN MATERIAL ENTERPRISES CO., LTD, Armacell, KANEKA CORPORATION among others. These players are primarily involved in different strategies such as R&D investment, mergers and acquisitions, partnerships, collaborations, new product launches, and others to heighten their stand in the market.
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