Extruded Polyolefin Foam Market: Overview
Extruded polyolefin foam is a sealed-cell bead foam that owns distinctive properties, such as thermal insulation, multiple impact resistance, water & chemical resistance, recyclability and high strength. As the name suggests, extruded polyolefin foam is manufactured by an extruding process, which follows a continuous mixtures, such as blowing agents and polyolefin resins. The selected mixtures are checked for high melting strength, elasticity and nucleating agents. Unique properties of extruded polyolefin caters to high-end applications in manufacturing sectors. However, with increasing demand for light weight foaming products, the global market for extruded polyolefin foam market has lucrative opportunities in the coming years.
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Extruded Polyolefin Foam Market to Fetch Untapped Opportunities
The global polyolefin foam market is primarily driven by the automotive sector during the forecast period. The major application for extruded polyolefin foam in automotive industry lies within the demand for of lightweight parts such as bumpers and door liners. Rapidly increasing production of lightweight automotive parts due to improving vehicle efficiency is anticipated to create substantial demand for extruded polyolefin foam in the automotive industry. Secondly, in building & construction sector, the extruded polyolefin foams are utilized in the interior designing and housing works. Furthermore, the demand for extruded polyolefin foam in the automotive industry is expected to be a prominent driver for the global extruded polyolefin foam market.
Extruded Polyolefin Foam Market: Segmentation
The global extruded polyolefin foam market can ben segmented by type, end-use application and regions. On the basis of type, the global extruded polyolefin foam market is segmented by polypropylene foam and polyethylene foam. Among type segment, polypropylene extruded foams are being highly utilized in major end-use industries, such as insulation, automotive and packaging industries. In packaging industry, polypropylene extruded foams are going for delicate food packaging and protective packaging. This is one of the prominent factors propelling the demand for extruded polyolefin foam during the forecast period. On the basis of end-use application, the global extruded polyolefin foam market is segmented by automotive, building & construction, packaging and others.
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Extruded Polyolefin Foam Market: Regional Outlook
The global extruded polyolefin foam market can be divided into North America, Latin America, Europe, East Asia, South Asia and Middle East & Africa. In terms of volume and value, East Asia is expected to dominate the global extruded polyolefin foam market during the forecast period trailed by South Asia. In the present market scenario, Asia Pacific is a prominent automotive hub as it inhabits several heavily populated countries, where there is a continuous demand for building & construction activities. Increasing automotive demand, coupled with upsurge in building & construction activities, is a major driver that is anticipated to propel the demand for extruded polyolefin foam in the region during the forecast period. In Asia Pacific, India and China were the two major countries that are estimated to dominate a majority of the global extruded polyolefin foam market in Asia Pacific. After Asia Pacific, Europe is expected to be a major region, followed by North America. The global extruded polyolefin foam market in other regions, such as Latin America and MEA (Middle East & Africa), are expected to inflate at a significant pace during the forecast period.
Extruded Polyolefin Foam Market: Key Players
Prominent players in the global extruded polyolefin foam market are Borealis AG, Intec Foams, Ultralon Foam Group, Sekisui Chemical Co., Ltd., Trocellen GmbH, NMC International SA, Huzhou Changyuan tefa technology Co. Ltd., Hira Industries LLC, Sekisui Alveo Ag and Quanzhou Mor Rubber&Plastic Co., Limited., among other players. The global players are expected to strengthen their market positions by offering loyalty schemes and competitive prices. Several small-sized players also have a presence in the extruded polyolefin foam market globally.
Extruded Polyolefin Foam Market: Competitive Landscape
The global market for extruded polyolefin foam is fragmented in nature owing to the presence of handful number of players in the market. The global extruded polyolefin foam market has lucrative opportunities for new entrants, which will cater to competitiveness in product offerings and also lead to the reduction in prices of the products.
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