May 19, 2020
According to the research report titled ‘Asia Pacific Expanded Polyethylene (EPE) Foam Market Size By, By Product, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, Asia Pacific expanded polyethylene (EPE) foam market is expected to record strong CAGR during 2020-2026.
EPE (Expanded Polyethylene) is non-cross-lined, closed cell, and semi rigid foam which has high impact absorption property. Rising adoption of EPE foam for insulation, construction and packaging is a major factor driving the expanded polyethylene foam industry in Asia-Pacific.
The market is expected to expand further owing to its widespread applications like foam padding, foam sheet and foam tube in industries. The product is not only odorless, tasteless and harmless plastic, but also resists fungi and insects.
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Moreover, expanded polyethylene foam is environment friendly. EPE foam can be recycled as well as reused, further reducing the volume of plastic in the environment. Also, the product can be melted and molded into various shapes numerous times. High thermal resistance of EPE foam allows it to maintain its chemical structure in harsh temperatures, which in turn is stimulating the industry outlook.
EPE foam can be used to make shin guards, sports mats, thigh guards and yoga mats. It finds usage in production of life vests and flotation devices. The product is widely employed for protecting breakable and fragile things like glass & glassware and scientific instruments among others.
By form, coils & rolls segment is predicted to expand with a CAGR of 5% during 2020-2026, primarily due to its high adoption rates in construction, insulation and packaging applications.
As per product type, non-laminated EPE foam market segment is anticipated to record a 3.5% growth rate between 2020 and 2026.
Based on the application spectrum, market share from the other segment, which comprises of electronic industry, is predicted to expand with a CAGR of 5% through 2026. The product is lightweight in nature and offers exceptional insulation properties, which further enables it to be used in industrial chillers and split ACs.
Considering the geographical landscape, expanded polyethylene foam industry in Taiwan is anticipated to register a y-o-y growth rate of 4% during 2020-2026. Booming industrial sector and improving production capabilities of market majors are favoring the business scenario in Taiwan.
Long Future Co. Ltd., T.G. & Son Corp. Ltd., Kiwi Thermopack, Sing Home Polyfoam (Suzhou) Co. Ltd., Supreme Industries Ltd., Modern Material Enterprises Co. Ltd., Rahil Foam Pvt. Ltd., Sonoco Products Co., KANEKA Corp. and Armacell are the major contenders in Asia-Pacific expanded polyethylene foam market.