Trend in automotive application to Asia Pacific expanded polyethylene foam market share
Eliminating cost of making expensive molds and offering tremendous cushion against vibrations, shocks and abrasion are some of the upsides that have encouraged emerging economies such as India, China, Vietnam and Malaysia to infuse funds in EPE for packaging goods, boost high thermal resistance and weight to-strength ratio. In the latest research report compiled by Global Market Insights Inc., Asia Pacific expanded polyethylene foam market size has been projected to exceed US$1.3 bn by 2026.
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With India and China spearheading automobile production globally, auto makers have exhibited traction for EPE foam following the demand as protective pads in roof tops, vehicle engines and insulate driver. Besides, EPE foam is being used in floor mats, seat linings, sun visor, carpet underlay for insulation.
In recent years, buoyancy for EPE foam has been attributed to expanding trend towards going green in construction sector that is also likely to pick pace amid climate change issues. Notably, generation of fewer waste products in production and disposal and recyclability factor have added fillip to the growth of Asia Pacific expanded polyethylene foam market revenue.
An upsurge in demand for EPE foam in a slew of industries, including construction, automobile, sports has made laminated process quite popular across Asia Pacific. Traction for versatile laminated foam products will be noticeable across end markets in the Asia Pacific expanded polyethylene foam market.
EPE foam sheet laminating machines are stimulating growth for they can boost waterproof capability and intensity and are being sought-after as wooden floor cushions, box linings, school charts, motorbike cushions, and life vests.
Lucrative growth opportunities in packaging
Stakeholders eye packaging as a lucrative portfolio as they look to expand their penetration in India, Vietnam, Malaysia and China. EPE foam is believed to provide custom-fitting fabricated packaging target at high value products produced in limited items.
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Commercial use of EPE foam in fragile products and automotive has been attributed to its outstanding cushioning against abrasions, shocks and vibration. Expanded polyethylene foam market will generate major revenue from packaging for light electrical applicants and precision machine parts.
Asia Pacific has jumped on the bandwagon to invest towards smart packaging as online shopping in the region has augmented e-commerce sales. Besides, other Asian countries such as Singapore and Malaysia also provide revenue generating opportunity for the producers of EPE foam to cash in on the digitization.
Construction sector is also likely to provide lucrative growth opportunity for the manufacturers of EPE foam. Demand for Asia Pacific expanded polyethylene foam market 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.
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