Providing tremendous cushioning against vibrations, shocks, and abrasion, expanded polyethylene (EPE) has become a top-notch petrochemical product and has versatility abound for applications, spanning from automotive to packaging to construction. As they eliminate the cost of making expensive moulds and are resistant to fungi and bacteria, they have become highly sought-after among stakeholders.
With high weight to strength ratio and high thermal resistance, EPE foam has become popular as being a good insulating material. Of late, emerging countries in APAC have been witnessing traction for recycled EPE that can be used for packaging material or as underlay for carpeting in rooms. Global Market Insights, Inc., has projected Asia Pacific Expanded Polyethylene (EPE) foam market size to surpass US$ 1.3 bn by 2026.
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India and China may witness upsurge in the packaging of fragile and delicate products such as electronic equipment, ceramics, TV, monitors, UPS, glassware, and surgical equipment. Notably, EPE tends to protect equipment from external pressure and shock for they are transported or shipped to the place of destination.
It is predicted that EPE foam will witness a noticeable trend in automotive industry as it be will be sought-after to be used as protective pads in vehicle engines, insulative driver cabins, and roof tops. Several automobile manufacturers are also including EPE foam in floor mat, carper underlays, and seat linings.
Construction sector is also likely to provide lucrative growth opportunity for the manufacturers of EPE foam. Demand for EPE foam in APAC will be more pronounced and will be used as fillers in expansion joints, terraces or roof water proofing, false ceiling, foundation wraps and sound barriers.
Trend towards green building is also likely to gain ground as world looks to surmount climate change concerns. Prominently, generation of fewer waste products in production and disposal and recyclability factor have added fillip to the growth of APAC EPE market revenue.
Rising importance of commercial spaces in India, China, and Japan has furthered the confidence of stakeholders eyeing to expand their portfolios in the region. While real estate sector sees decline owing to COVID-19 fallout, post COVID-19 situation is expected to provide viable environment to the sector.
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It is worth noting that EPE foams have superior shock absorbency and can resist and absorb high amounts of shock. Moreover, EPE foam has become being highly sought-after for providing a shield for extra protection while handling and storing chemicals such as acids, solvents, and alkalis.
Emerging economies such as India, Indonesia, Japan, China and Taiwan have exhibited increased traction towards smart packaging. With the proliferation of online shopping in Asia Pacific, e-commerce sales have skyrocketed, and so has the trend for packaging. Besides, other Asian countries such as Singapore and Malaysia also provide unparalleled opportunity for the producers of EPE foam to cash in on the digitization.
Some of the key participants in the industry ecosystem are Armacell, KANEKA CORPORATION, Sonoco Products Company, MODERN MATERIAL ENTERPRISES CO., LTD, and Supreme Industries Limited.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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