Growing Emphasis on Lightweight Packaging to Propel Low Density Polyethylene (LDPE) Foams Market

Low density polymer foams are increasingly being used in an array of industrial and civil applications worldwide. Low density polyethylene foams have gained considerable popularity in recent years, owing to the desired heat insulation, low density, optimum sound insulation effects, and exceptional corrosion resistance. The trend is projected to continue over the forthcoming decade, as these polymers offer significant advantages over voluminous polymer materials. In the current scenario, low density polyethylene foams are extensively used in a host on end-use industries, including building & construction, packaging, automotive, electrical & electronics, sports, aerospace, and medical. The packaging sector is expected to present abundant opportunities for participants of the low density polyethylene (LDPE) foams market during the forecast period.

Low density polyethylene foams play an imperative role in minimizing packaging volumes and weight due to which, adoption across the packing sector is expected to grow. Over the past couple of decades, investments in research and product development activities have increased at a rapid pace due to the tightening market landscape, evolving consumer demands, and regulatory landscape. Environmental concerns around the world have led to the development of recyclable low density polyethylene foams in recent years– a factor that is projected to drive market growth. At the back of these factors, the global low density polyethylene (LDPE) foams market is expected to attain a market value of ~US$ 3 Bn by the end of 2030.

low density polyethylene market infographic

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High Adoption across Packaging Sector to Drive Global Low Density Polyethylene (LDPE) Foams Market

A low density polyethylene foam is the main resin type that is widely used to manufacture expanded polyethylene foam and cross-linked polyethylene foam. At present, due to the evolving consumer and industrial requirements, a lot of emphasis is being laid on the development of tailor-made industrial packaging solutions. The soaring demand for low density polyethylene foams to manufacture cross-linked polyethylene and expanded polyethylene foams is expected to play a key role in the expansion of the global low density polyethylene (LDPE) foams market.

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Both these types of low density polyethylene foams offer unique several advantages. However, the adoption of expanded low density polyethylene foams is on the rise, due to the ideal packaging protection they offer, economic pricing, and recyclability. Expanded low density polyethylene foams are primarily used in many packaging applications, including packaging of semiconductor equipment, medical equipment, IT servers, robotics components, and automotive class A surfaces.

The difference in the manufacturing processes of the two types of low density polyethylene foams sets them apart in terms of properties. The desired strength to weight ratio offers a dynamic cushioning solution due to which, the adoption is anticipated to remain during the forecast period.

Consistent Demand from Automotive Sector to Augment Market

The automotive industry is expected to provide fertile grounds for market growth during the forecast period, as more number of automotive companies continue to strive to introduce cost-effective and comfortable automotive vehicles. An array of polymers are used across the automotive industry, as research activities have paved the way for the development of new polymers that are ideal for use in automotive applications. Another major factor that is currently playing an imperative role in augmenting the demand from the automotive industry include stringent regulations pertaining to emission standards.

As recycling continues to remain the focal point across a host of industries, recyclable materials such as low density polyethylene foams are increasingly being used. While opportunities in the automotive sector are expected to interest the stakeholders involved in the current low density polyethylene (LDPE) foams market, the healthcare sector is gradually emerging as a prominent end-use industry.

Adoption for Healthcare Equipment Packaging on Rise amid COVID-19 Crisis

The onset of the COVID-19 pandemic is expected to hamper the overall growth of the global low density polyethylene (LDPE) foams market, particularly in 2020. As the global supply chains continue to take a heavy beating due to lockdowns, initially in China and the other powerhouses of raw materials, including India, the adoption across various industrial sectors apart from healthcare is expected to remain sluggish.

As the demand for personal protection equipment, ventilators, medical syringes, and other medical supplies expands at an exponential rate, the demand for low-density polyethylene foams for medical packaging applications is witnessing considerable growth. While the healthcare sector is projected to remain the most prominent end-use industry amid the COVID-19 pandemic, companies in the low density polyethylene (LDPE) foams market are expected to ideally focus on capitalizing on these opportunities.

low density polyethylene market segmentation

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Analysts’ Viewpoint

The global low density polyethylene (LDPE) foams market is expected to grow at a moderate CAGR of ~5% during the forecast period. At present, although the ongoing COVID-19 pandemic is hindering the growth prospects of the global low density polyethylene (LDPE) foams market, the soaring demand from the healthcare sector will generate considerable revenues. The market growth during the forecast period can be primarily attributed to evolving packaging requirements, investments in research, and development of customized low-density polyethylene foam solutions for different industrial applications. 

Low Density Polyethylene (LDPE) Foams Market: Overview

  • Low density polyethylene (LDPE) foams possess varying textures and appears soft akin to urethane foams or harder akin to some polystyrene foams. There are two general types of LDPE foams: expanded low density polyethylene foams and cross-linked low-density polyethylene foams. These are distinguishable from one another by the process with which they are formed.
  • LDPE foams are used in various applications, owing to their desirable properties including water resistance, chemical resistance, compressive strength, energy absorbance, buoyancy, and cushioning. LDPE foams tend to exhibit more compressive creep, meaning they become less thick over time than higher density foams.

Key Growth Drivers of Low Density Polyethylene (LDPE) Foams Market

  • Demand for sports equipment/products has been increasing at a rapid pace across the globe, due to the rise in urbanization and growth in disposable income of consumers. LDPE foams are being increasingly employed in the sports industry, as they possess better physical properties such as high elasticity. They also provide protection against repeated shock from relatively high stresses. The global low density polyethylene (LDPE) foams market has been expanding significantly owing to the benefits of these foams such as water resistance, chemical resistance, compressive strength, energy absorbance, buoyancy, and cushioning.
  • LDPE foams are largely used in the automotive industry due to their compressive strength. The automotive industry has been striving to lower the weight of the average car, and thus improve fuel consumption and performance. In line with this, manufacturers have started using LDPE foams in commercial and small private vehicles. These foams are being used in large quantities in buses and coaches, as they are light in weight, and offer impact and vibration absorption properties including splash resistance to oils and fuels. LDPE foams also offer acoustic and thermal insulation properties; buoyancy with low water absorption; and thermo-forming and thermo-molding properties. This is anticipated to drive the global low density polyethylene (LDPE) foams market during the forecast period.

Major Challenges for Low Density Polyethylene (LDPE) Foams Market

  • Raw materials such as ethylene and polyethylene are used in the manufacturing of LDPE foams. These petrochemical derivatives are subject to fluctuation in prices and supply of crude oil. Constant variation in prices of crude oil adds pressure on manufacturers of LDPE foams, as changes in prices escalate the production cost of these foams. Furthermore, manufacturers are reluctant to increase the prices of their products due to concerns about losing market share. This is expected to adversely affect the global low density polyethylene (LDPE) foams market.
  • Fluctuation in prices of crude oil significantly affects exploration activities. This, in turn, hampers the prices of LDPE foams. Natural gas or crude oil is largely used as feedstock for these foams. This makes the low density polyethylene (LDPE) foams market more susceptible to fluctuation in prices of oil and gas.

Lucrative Opportunities for Low Density Polyethylene (LDPE) Foams Market

  • Rise in demand for energy sustainable and energy conservative materials is driving the demand for LDPE foams. The global construction industry is estimated to reach US$ 8 Trn by 2030, creating a global annual growth in demand for thermal insulation of 4% to 5%. LDPE foams are widely used in thermal insulation purposes to reduce heat loss. Currently, the European Union and North America are leading proponents of building codes to reduce energy consumption in the construction industry.
  • Demand for thermal insulation has increased substantially in buildings, as their role in reducing energy dependency and greenhouse gas emissions has been recognized. New or improved thermal insulation requirements have emerged across the Middle East and throughout India, China, South Africa, and Latin America. LDPE foams are used in building & construction end-use applications such as forging, pipe-in-pipe, doors, roof boards, and slabs. LDPE foams possess excellent thermal insulation, moisture resistance, and sound and vibration absorption properties. Hence, these foams are ideal for usage in the building & construction industry. LDPE foams also possess excellent heat insulation capacity. Therefore, these foams are used to insulate pipes of heating systems. For the same reason, these foams are used on cement under tile or parquet floors for the absorption of noise. Thus, LDPE foams are also employed to insulate roofs, especially roofs of homes and offices.

Asia Pacific to Dominate Low Density Polyethylene (LDPE) Foams Market

  • Asia Pacific constituted major share of the global low density polyethylene (LDPE) foams market in 2019. It is projected to remain a highly lucrative region of the global low density polyethylene (LDPE) foams market during the forecast period, due to rapid industrialization and rise in the demand for LDPE foams in packaging and building & construction industries in the region. China is a key country of the low density polyethylene (LDPE) foams market in Asia Pacific, owing to growth of industries such as automotive in the country. China is a major hub for automotive products, wherein LDPE foams are used due to the latter’s superior properties vis-à-vis other foams.

Packaging Industry Dominated Low Density Polyethylene (LDPE) Foams Market

  • Based on end-use industry, the packaging segment accounted for significant share of the global low density polyethylene (LDPE) foams market in 2019. Packaging is a common application of LDPE foams. LDPE foams are primarily employed in retail packaging including counter & window display pads, transparent sleeve packs, jewelry pads, and coins. Thus, rise in demand for food & beverage packaging, flexible packaging, and corrugated board packaging is estimated to propel the packaging segment of the global low density polyethylene (LDPE) foams market during the forecast period.
  • LDPE foams are primarily used in the packaging industry to protect products from damages, as LDPE foams absorb energy and can help achieve different levels of cushioning protection, depending on the exact density of the foams. Furthermore, LDPE foams possess chemical resistance, which helps them resist the common causes of degradation.

Leading Players Actively Engage in Joint Ventures and R&D Activities

  • Key players operating in the global low density polyethylene (LDPE) foams market include 
    • The Dow Chemical Company
    • Armacell International S.A.
    • Sealed Air Corporation
    • Zotefoams plc
    • JSP
    • UFP Technologies, Inc.
    • INOAC CORPORATION
    • Abriso-Jiffy NV
    • Thermotec
    • American Excelsior, Inc
    • Ramfoam Limited
    • Wisconsin Foam Products
    • Ultralon Foam Group
    • Sekisui Voltek, LLC
    • PAR Group
    • Zhuhai Newcean Technology Co.Ltd,
    • The Rubber Company. 
  • These companies actively engage in expansions, mergers & acquisitions, and joint ventures in order to maintain their share in the global low density polyethylene (LDPE) foams market.
  • On June 17, 2019, Abriso NV acquired Airpack S.p.a. The Italy-based Airpack S.p.a. specializes in the extrusion of polyethylene (PE) and polypropylene (PP) products for packaging and construction applications

Low Density Polyethylene (LDPE) Foams Market – Scope of the Report

The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global low density polyethylene (LDPE) foams market to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the low density polyethylene (LDPE) foams market to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the low density polyethylene (LDPE) foams market will progress during the forecast period of 2020-2030.

The report offers intricate dynamics about the different aspects of the low density polyethylene (LDPE) foams market that aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on the significant changes that are highly anticipated to configure the growth of the low density polyethylene (LDPE) foams market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the low density polyethylene (LDPE) foams market, and estimate statistics related to the market progress in terms of value (US$ Mn) and volume (Kilo Tons).

This study covers a detailed segmentation of the low density polyethylene (LDPE) foams market, along with key information and a competitive outlook. The report mentions company profiles of key players that are currently dominating the low density polyethylene (LDPE) foams market, wherein various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on Low Density Polyethylene (LDPE) Foams Market

The report provides detailed information about the low density polyethylene (LDPE) foams market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the LDPE foams industry, so as to help them make successful strategies and take target-driven decisions.

  • Which type of LDPE foam will emerge as a major revenue generator for the market during the forecast period?
  • How are key market players successfully earning revenue out of the advantages of LDPE foams?
  • What will be the Y-o-Y growth of the low density polyethylene (LDPE) foams market between 2020 and 2030?
  • What are the winning imperatives of market frontrunners in the low density polyethylene (LDPE) foams market?
  • Which end-use industry is expected to develop maximum revenue for LDPE foams during the forecast period?

 

Research Methodology – Low Density Polyethylene (LDPE) Foams Market

The research methodology adopted by analysts for combining the low density polyethylene (LDPE) foams market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the low density polyethylene (LDPE) foams market.

During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the low density polyethylene (LDPE) foams market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the low density polyethylene (LDPE) foams market.

Low Density Polyethylene (LDPE) Foams Market – Segmentation

TMR’s research study assesses the low density polyethylene (LDPE) foams market on the basis of type, end-use industry, and region. This report presents the extensive market dynamics and progressive trends associated with different segments, and how they are influencing the growth prospects of the low density polyethylene (LDPE) foams market.

Type

  • Cross-linked Polyethylene Foams (XLPE Foams)
  • Expanded Polyethylene Foam (EPE Foams)

End-use Industry

  • Packaging
  • Automotive
  • Building & Construction
  • Sports
  • Electrical & Electronics
  • Others (including Medical and Aerospace)

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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