Polyolefin Foam Market by Resin Type (Polyethylene, Polypropylene, and Ethylene-Vinyl Acetate), End-use Industry (Protective Packaging, Automotive, Building and Construction, Footwear, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026688 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 8.5 billion mark in 2022 and is expected to hit US$ 13.0 billion by 2030, recording approximate CAGR of 5.5% during the forecast period.

Polyolefin foam market has been significantly growing with the increasing usage in the automotive industry

Polyolefin foam is utilized in automotive industry as sound-absorbing material and exterior, interior, and under-the-bonnet applications such as bumpers, body panels, trims, dashboards, climate control, and cooling systems and battery cases. The automotive industry is focused on development and innovating lightweight vehicles. The lower weight of vehicles lead to improved fuel consumption and better performance. It finds application in both commercial, private vehicles, buses and coaches and can help reduce the average weight. According to the report by EV Volumes, global EV sales reached 6.75 million units (2021), registering a growth of 108% compared to 3.24 million sales (2020). Also, globally the share of EVs in sales of light vehicles was 8.3% in 2021 compared to 4.2% in 2020.

Within the report, the market is segmented into resin type, end-use industry, and geography. By resin type, the market is further divided into polyethylene, polypropylene, and ethylene-vinyl acetate. By end-use industry, the market is further fragmented into protective packaging, automotive, building and construction, footwear, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Increasing demand for medical and healthcare products

The increase in utilization of dental disposable foam trays, wound dressing, prosthetic pads, orthopedic pads and wheelchair pads due to rising aging population has aided the demand growth of polyolefin foam. Polyolefin foam comprises of various properties such as heat insulation, waterproof, moisture proof and thermal insulation. The demand for polyolefin foam based on polypropylene, and ethylene vinyl acetate resins are increasing, due to the developments and advancements in medical devices. Moreover, according to International Trade Administration, in Mexico, the total local production of medical devices and equipment increased from US$ 16.8 billion in 2020 to US$ 15.12 billion in 2021. The growing demand for medical applications such as devices and other applications, in the medical and healthcare industry, is projected to increase the demand for polyolefin foam during the forecast period.

Rising demand from the food and beverage industry

Polyolefin foam is utilized for fruit foam trays, packaging foam inserts, protective pads and protective packaging solutions for various applications in the food and beverages industry. With the growth of the food and beverage industry, the demand for polyolefin foam based on polyethylene and polypropylene will increase eventually. Moreover, according to the British Chamber of Commerce in Korea, the food & beverage market of South Korea is expected to reach US$ 99.28 billion by 2024, witnessing a CAGR of 3.9%. Thus, with the growth of the food and beverage sector, the increased demand for packaging for food and beverage products, which is expected to drive the growth of the market for polyolefin foam in the forecast period.  

Recent strategic developments in polyolefin foam market

The polyolefin foam market has undergone several significant developments, and a few of these have been mentioned below:

  • In June 2022, Inoac developed plant based polyolefin foam with biomass content of atleast 25%. The plant based foam was developed with the aim to reduce marine pollution by microplastics, drying petroleum and fossil resources.
  • In January 2021, Sekisui Alveo launched certified sustainable polyolefin foam products. The company launched Alvelit TA foam products in compliance with ISCC PLUS (International Sustainability and Carbon Certification).

The polyolefin foam market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. BASF SE, Toray Industries Inc., JSP Corporation, Armacell and Arkema are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Polyolefin foam end users
  • Polyolefin foam manufacturers
  • Polyolefin foam -related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Resin Type:
    • Polyethylene
    • Polypropylene
    • Ethylene-Vinyl Acetate
  • End-Use Industry:
    • Protective Packaging
    • Automotive
    • Building and Construction
    • Footwear
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • BASF SE
    • Toray Industries Inc.
    • JSP Corporation
    • Armacell
    • Arkema

The List of Companies
- BASF SE
- Toray Industries Inc.
- JSP Corporation
- Armacell
- Arkema

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