Shorter Sales Cycles Accelerate Market Growth amid COVID-19 Pandemic
Companies in the Europe low density polyethylene (LDPE) foams market are tapping into revenue opportunities in positive or limited negative impact industries during the ongoing coronavirus crisis. Pharmaceuticals, telecommunications, and software industries are thriving whereas travel, automotive, and construction industries are witnessing a slump in business activities. Nevertheless, manufacturers are striving to increase sales efficiencies and marching toward digital sales with the help of eCommerce.
Manufacturers in the Europe low density polyethylene (LDPE) foams market are focusing on key revenue generating industries such as packaging to revive market growth. In order to support customers, clients, and partners, market stakeholders are increasing their efforts to shorten sales cycles. Clear prioritization rules help to accelerate time-consuming testing and sampling activities.
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Circular Methods of LDPE Foam Production Contributes to Market Growth
Since plastics have always been associated with growing environmental footprint, companies in the Europe low density polyethylene (LDPE) foams market are adopting sustainable ways of producing LDPE products. Borealis AG - an Austrian chemical company specializing in polyethylene and polypropylene, is building its portfolio in LDPE foams using the extrusion process without crosslinking and requires the use of a branched polymer.
Manufacturers are producing branched polyethylene materials by tubular and autoclave processes. Superior foamability and homogenous foam cell structures are preferred in LDPE foams. Such foams are in high demand for packaging, sports, transport, and construction applications. Manufacturers are increasing the availability of foams that lead to the lowest carbon footprint.
Next-gen LDPE Foams Offer Special Benefits During Transportation of High-value Goods
The Europe low density polyethylene (LDPE) foams market is expected to reach the revenue of US$ 720 Mn by 2031. LDPE foams offer protection to high value goods during transport and provide cushioning to protective sports equipment and toys. Next-gen LDPE foams offer special benefits for the physical foam extrusion process. This helps to increase the availability of lightweight LDPE foams.
Companies in the Europe low density polyethylene (LDPE) foams market are increasing their R&D efforts to develop foams that are less sensitive to web breaks or foam collapse. This leads to higher material yield during processing. Manufacturers are developing LDPE foams that have a high compression strength and better resilience.
High Quality LDPE Foams Gaining Prominence in Electric Materials
Manufacturers in the Europe low density polyethylene (LDPE) foams market are boosting production of extruded and cross-linked LDPE foams. Excellent water resistance, chemical resistance, and energy absorbance are preferred in LDPE foams. The high quality LDPE foams are gaining prominence in electric materials, since these foams perform well for dielectric strength and constancy.
The Europe low density polyethylene (LDPE) foams market is projected to surpass an output of 149.60 kilo tons by 2031. Many applications that must perform in the presence of water also depend on polyethylene foam for its high water resistance and buoyancy.
Preference for Energy Absorbency and High Levels of Cushioning Protection in LDPE Foams
The packaging industry is creating stable revenue streams for manufacturers in the Europe low density polyethylene (LDPE) foams market. This is evident since LDPE foams help to protect products by absorbing energy and achieving different levels of cushioning protection, depending on the exact density of the foam.
The Europe low density polyethylene (LDPE) foams market is slated to register a value CAGR of 5% during the forecast period. Ethylene foam’s chemical resistance properties help to resist common causes of degradation. However, prolonged ultraviolet (UV) sunlight exposure over long periods of time can cause some basic degradation.
Crosslinkable foam extrusion processes help to create LDPE foams that showcase unique controlled reactivity combined with outstanding quality consistency. Such LDPE foams have an improved properties to weight ratio, which holds promising potentials for their use in higher added value applications.
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Europe Low Density Polyethylene (LDPE) Foams Market: Overview
- According to Transparency Market Research’s latest research report on the Europe low density polyethylene (LDPE) foams market for the historical period 2020 and the forecast period of 2021 to 2031, rise in trade in across Europe is expected to boost the investment in the packaging industry. For instance, packaging companies invested more than US$ 4 Bn in over 50 deals in 2020. This is likely to drive the demand for low density polyethylene (LDPE) foams during the forecast period.
- In terms of value, the Europe low density polyethylene (LDPE) foams market is expected to reach US$ 720 Mn by 2031, expanding at a CAGR of 5% during the forecast period. Online shopping activities have risen significantly in Europe over the past two years. The e-commerce sector in the region generated more than US$ 425 Bn in 2020. The e-commerce sector in Europe was valued at US$ 350 Bn in 2019. The trend is expected to continue during the forecast period. Increase in e-commerce activities is anticipated to boost the demand for low density polyethylene (LDPE) foams, as the major portion of low density polyethylene (LDPE) foams is used in the packaging industry. Thus, rise in e-commerce activities is expected to boost the Europe low density polyethylene (LDPE) foams market.
Expansion of Construction Industry in Europe: Key Driver of Europe Low Density Polyethylene (LDPE) Foams Market
- The construction industry, comprising residential and non-residential construction, is a significant end user of low density polyethylene (LDPE) foams. Construction activity is steadily rising in all EU countries, due to the low interest rates and stable economic growth. Furthermore, economic stability has resulted in an increase in employment and overall household income. This has led to a change in buying pattern. Steady growth of the construction industry in Europe has led to an increase in inflow of public and private investments. The construction market in Europe is likely to experience a shift in its growth engine from residential construction to infrastructure sector in the near future. The low density polyethylene (LDPE) foams market in the region is expanding rapidly due to the rise in residential and commercial construction activities.
- The building & construction industry is dependent on macroeconomic developments and government activities. Quality enhancements and LEED certification encourage market players to adopt sustainable design and implement green building practices. This boosts the demand for low density polyethylene (LDPE) foams. Rise in demand for low density polyethylene (LDPE) foams in green building technology has led to the need for R&D to develop innovative products in the low density polyethylene (LDPE) foams market. For instance, in 2017, SABIC launched SABIC LDPE HP0824NDF, a new dedicated low-density polyethylene foam grade, for tape, seal, and underlayment market.
- The building & construction industry in Europe has been expanding at a steady pace since the past few years. This trend is projected to continue in the next few years. Need for renovation of existing old structures and new construction projects across Europe is likely to fuel the demand for low density polyethylene (LDPE) foams in the region. Increase in population and technology improvements in Europe are driving the demand for residential and commercial projects. Rise in number of non-residential projects such as hotels, schools, hospitals, and industrial buildings in Europe is estimated to boost the demand for low density polyethylene (LDPE) foams in the region in the next few years.
Growth of Packaging Sector: Determining Driver of Low Density Polyethylene (LDPE) Foams Market
- Low density polyethylene (LDPE) foams are primarily used in the packaging industry to protect products from damages, as low density polyethylene (LDPE) foams absorb energy and can achieve different levels of cushioning protection depending on the exact density of these foams. Low density polyethylene (LDPE) foams also possess chemical resistance properties. This enables low density polyethylene (LDPE) foams to resist the common causes of degradation.
- Packaging addresses consumers’ basic needs and quality-of-life issues. It provides consumers with information that can be of crucial importance to their health. This includes degree of freshness and ripeness, color, shelf life, ingredients, and nutritional values of products.
- Increase in population and overall income; and rapid urbanization are fueling trade activities. This is subsequently driving the demand for packaging. Growth in online trade is also boosting the need for packaging. Products are also being consumed on-the-go. This is augmenting the need for food service packaging and different sizes of packaging.
- Demand for packaging is influenced by economic growth and the level of disposable income of consumers. Demand for packaging in Western Europe, which has a mature packaging market and consumers with high personal disposable incomes, is likely to be equal to the GDP growth of the region. Rise in demand for packaging is usually a few percentage points higher than GDP growth rate in less mature markets of Eastern Europe. This can be ascribed to the rapid increase in real income and purchasing power of the people in Eastern Europe. Thus, a higher proportion of income is being spent on packaged food and drinks and other consumer goods in the region.
- According to the interpack alliance, Europe was one of the key regions of the global packaging market in 2019. Sales of packaging units in Europe stood at more than 1,000 billion units in 2019 and are expected to increase in the next few years. Germany and the U.K. are collectively estimated to hold 33% share of the packaging market in 2020. These two countries account for significant usage of packaging solutions, and are expected to remain major users of packaging solutions in the near future.
- Low density polyethylene (LDPE) foams are primarily used in retail packaging, including counter & window display pads, transparent sleeve packs, jewelry pads, and coins. Thus, rise in preference of food & beverage packaging, flexible packaging, and corrugated board packaging is estimated to propel the low density polyethylene (LDPE) foams market in Europe.
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Europe Low Density Polyethylene (LDPE) Foams Market: Competition Landscape
- Detailed profiles of providers of low density polyethylene (LDPE) foams have been provided in the Europe low density polyethylene (LDPE) foams market to evaluate their financials, key product offerings, recent developments, and strategies
- Key providers of low density polyethylene (LDPE) foams are focusing on designing advanced and cost-effective solutions to attract higher number of customers