PE foams market to reach $6.85B by 2021

The polyethylene foams market is projected to reach $ 6.85 billion by 2021, at a CAGR of 5.9% between 2016 and 2021, according to a report by Research and Markets. 

 

The polyethylene foams market is mainly driven by increasing residential and commercial construction activities, owing to rapid urbanization, supported by increasing income levels and modern attitudes toward 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 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.

 

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.