Asia Pacific expanded polyethylene (EPE) foam industry is likely to register appreciative growth during the estimated timeframe due to increasing use of foam in wide range of applications avenues like food packaging, construction, and insulation.
Expanded polyethylene, also known as EPE, is a foam that is highly impact absorbent, it is semi-rigid, closed cell, and non-cross-linked variety of foam. The chemical and physical properties of EPE foam further give it its desirable features.
Owing to these properties, EPE foam has a variety of applications in industries like foam tube, foam sheet, and foam padding. Being a harmless plastic, it has no taste or odor as well. It is non-toxic and resistant to insects and fungi.
One of the essential characteristics of EPE foam is that it is recyclable in nature. The foam can be melted as well as reshaped into several other shapes multiple times. Owing to properties like high thermal resistance the foam is able to retain its chemical structure even when it is exposed to high temperatures and further heated into molten plastic.
This is an essential property of expanded polyethylene foam, which further allows it to be reused and recycled, lessening the amount of plastic in the environment.
Asia Pacific expanded polyethylene foam market is segmented into form, product, application, and regional landscape.
With respect to form, the market is categorized into customized shapes, coils & rolls, and sheets & planks. Coils & Rolls will showcase nearly 5% CAGR owing to wide range of usage in packaging, insulation, and construction applications.
Based on product, the market is divided into non-laminated and laminated. Among these, the non-laminated EPE foam products hold dominance in industry and will grow by more than 3.5% CAGR over the projected timeframe in terms of volume.
With respect to application, the market is bifurcated into automotive, packaging, construction, insulation, and others. Excellent insulation characteristics of EPE foam are enabling electronic industry to use these lightweight foams for insulation for split AC, and industrial chillers, among others.
The sector is likely to exhibit a growth rate of 5%. Since it is resistant to oils, water, and other chemicals it is considered a good insulating material. EPE is also available in different densities, as per its purpose or application.
EPE is also used to make yoga mats, thigh guards, sports mats, and shin guards. It is used in the making of life vests as well as other floatation devices. The use of EPE foam could also be seen in the protection of fragile and breakable things like scientific instruments, glass & glassware, delicate parts of machinery, and scratchable items like granite and marble.
From a regional frame of reference, the increasing production capabilities of industry players coupled with growing industrial sector will drive Taiwan EPE foam market and the country is likely to register a growth rate of around 4% in the overall market.