Low Density Polyethylene (LDPE) Foams Market: Introduction
The global low density polyethylene (LDPE) foams market was valued at ~US$ 1.5 Bn in 2019 and is anticipated to expand at a CAGR of ~5% during the forecast period. The global LDPE foams (LDPE)
market is expected to expand at a rapid pace during the forecast period, due to the increase in penetration of LDPE foams in various sectors, particularly packaging, building & construction, and medical; significant growth of certain industries, such as protective packaging, wherein LDPE foams are being introduced; availability of advanced raw materials and processing methods that facilitate the manufacture of products with improved properties; and rise in research and development activities.
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Key Drivers of Low Density Polyethylene (LDPE) Foams Market
LDPE foams are primarily used in the packaging industry to protect products from damages, as LDPE foams absorb energy and can achieve different levels of cushioning protection depending on the exact density of these foams. LDPE foams also possesses chemical resistance properties. This helps LDPE foams resist common causes of degradation. Packaging provides consumers with information that can be of crucial importance to their health. This includes degree of freshness and ripeness, color, shelf life, ingredients, and nutritional values of products. The global packaging market was valued at US$ 851 Bn in 2017, up by 2.8% compared to that in the previous year. It reached US$ 876 Bn in 2018, based on annual growth of 2.9%, and is expected to reach US$ 980 Bn in 2022 and US$ 1,000 Bn in 2023. Rise in population and increase in urbanization are fueling trade, and subsequently, the use of packaging. Online trade is further boosting the need for packaging. Products are also being consumed on-the-go. This is driving the need for food service packaging and different sizes of packaging.
LDPE foams are primarily used in retail packaging, including counter & window display pads, transparent sleeve packs, jewelry pads, and coins. Thus, rise in preference of food & beverage packaging, flexible packaging, and corrugated board packaging is estimated to propel the low density polyethylene (LDPE) foams market.
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Cross-linked Polyethylene Foams to Offer Attractive Opportunities
In terms of type, the cross-linked polyethylene foams (XLPE foams) segment accounted for a major share of the global low density polyethylene (LDPE) foams market in 2019. XLPE foams offer superior thermal stability and insulation in addition to improved dimensional consistency and stability over a wide range of fabrication methods. As a result, these foams are employed widely in medical, protective packaging, automobile, sports & recreational, and building & construction applications. Cross-linked polyethylene (XLPE) foam is a high-density, closed-cell foam that has a compact feel. It resists water and chemicals. The cross-linking of polyethylene is a chemical or irradiation process that ties all of polymer molecules together by a strong chemical bond.
Key Players in Low Density Polyethylene (LDPE) Foams Market
The global low density polyethylene (LDPE) foams market is consolidated. The top five players — The Dow Chemical Company, Armacell International S.A., Sealed Air Corporation, Zotefoams plc, and JSP — cumulatively held more than 40% share of the global low density polyethylene (LDPE) foams market in 2019. Zotefoams plc was the major producer of LDPE foams with more than 10% share of the global low density polyethylene (LDPE) foams market in 2019. Other companies operating in the global low density polyethylene (LDPE) foams market include a large number of local manufacturers in India and China who produce LDPE foams in smaller volumes and cater to the domestic markets. These are a part of the unorganized market.
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