The global polyethylene foams market is projected to grow from USD 3.6 billion in 2021 and is projected to reach USD 4.8 billion by 2026, at a CAGR of 6.0%, between 2021 and 2026 period. The driving factor for the Polyethylene foams market are high growth in protective packaging and automotive industries. APAC, South America, and the Middle East & Africa are the fastest-growing segments of the polyethylene foams market for protective packaging applications. This is due to ongoing investments in infrastructural development, increasing urbanization, and rising standards of living in these regions.
The companies are majorly following mergers & acquisitions and investment & expansion as the strategies to grow and expand the market. The key players following the strategies between 2016 to 2021 are Armacell (Germany), JSP (Japan), Recticel NV (Belgium), Sealed Air (US), and Zotefoams plc (UK). Following these strategies are helping the companies to strengthened their market position and increase their presence in emerging countries.
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Armacell is an inventor of flexible elastomeric foams for equipment insulation. It develops innovative and safe thermal, acoustic, and mechanical solutions that create sustainable value for its customers. It focuses on insulation materials for technical equipment, high-performance foams for high-tech and lightweight applications, and next-generation aerogel blanket technology. The company has two business units —advanced insulation and engineered foams. Armacell has operations in Europe, the Middle East & Africa, North America, South America, and Asia Pacific. It operates 24 manufacturing sites and has 300 patents along with an investment of USD 10.08 million in R&D for the 2019. Armacell has tried to regularly develop and capture the market in the best possible way. It follows strategies to acquire or collaborate with different companies to reach out to its customers. The company has a stronghold in the polyethylene foams market. It has adopted all the necessary strategies like new product development, investment & expansion, merger & acquisition, and partnership & agreement.
JSP is a market leader in the engineered foamed products industry, and the company has been pioneering foamed products since being founded in 1962. It develops products that take full advantage of the potential of foamed products for every field of industry, such as automotive, construction, civil engineering, packaging, and food packaging. JSP has two main business segments; bead business and extrusion business. JSP has its business network in Europe, Asia, North America, and South America. The company continues to develop new applications. The company has strong R&D and believes in continuous innovation to provide products according to consumer demands. Its global reach is making the company stronger. It has R&D and manufacturing facilities in the major industrial centers of Europe, America, and Asia.
Polyethylene (PE) Foams Market by Type (Non-XLPE and XLPE), Density (LDPE,HDPE), End-Use Application (Protective Packaging, Automotive, Building & Construction, Footwear, Sports & Recreational, Medical), and Region - Global Forecast to 2026
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