Polyethylene Foam Market Segments, Growth and Forecast by End-Use Industry till 2028
The global Polyethylene Foam market size is expected to reach USD 41.59 Billion in 2028 and register a revenue CAGR of 7.3% over the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by rising usage of Polyethylene Foam products in the healthcare industry for applications such as patient and medical device cushioning, sealing in medical devices, and fluid management in long-term wear wound dressings. Polyethylene Foam is breathable, soft, stretchable, conformable, and durable. Open cell foams are absorbent while closed cell foams such as polyethylene are stain, fungal, and water resistant. Closed cell foams such as polyethylene foam and cross-linked polyethylene foams are commonly used for medical device packaging and component solutions. These are available in a range of colors, thicknesses, and densities. High flexibility, durability, and versatility of Polyethylene Foam is resulting in its increasing utilization for a wide range of medical applications. Rising global healthcare spending, which includes both private and public health care spending, is expected to boost revenue growth of the market going ahead. Governments of various countries are investing in order to strengthen the healthcare sector and enhance patient comfort and safety. These factors are driving rising utilization of Polyethylene Foams in order to meet growing demand for hospital beds, medical devices, seat cushioning and bed accessories.
Rising demand for advanced wound care products for
treatment of chronic and acute wounds, including for diabetics and for pressure
ulcers, post-operative wounds, and burns is expected to increase utilization of
Polyethylene Foam for wound care. Manufacturers are increasingly investing in
the development of Polyethylene Foam for wound care applications which would
spread uniformly over the skin surface and allow better coverage of the contact
area.
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Competitive Outlook:
This section of
the report performs a thorough investigation into the intensely competitive
landscape of the global Polyethylene Foam market, highlighting the leading
manufacturers, strategic initiatives adopted by them, the existing growth
prospects, market positions, and market shares held by each participant. The report further emphasizes the
developmental strategies undertaken by these companies, including product
innovation, new product launches, and technological upgradation. Moreover, the
report studies the notable business events observed in this industry, such as
mergers & acquisitions, joint ventures, partnerships, corporate deals, and
brand promotions.
Key
companies operating in the market and profiled in the report include:
· The
Dow Chemical Company
· Sekisui
Chemical Co., LTD
· Huntsman
Corporation
· Trelleborg
AB
· BASF
SE
· Recticel
NV
· INOAC
Corporation
· UFP
Technologies, Inc
· FXI
HOLDINGS, INC.
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Some Key Highlights From the Report
- In
March 2020, 3M launched 3M single coated medical white Polyolefin Foam
Tape, which is easy to handle, fluid resistant, conformable, and a thinner
version of 1773 foam tape. The single-sided medical tape consists of
closed cell, medium white polyethylene foam, coated with a pressure
sensitive acrylic adhesive. Applications of 3M single coated medical white
polyolefin foam tape include first aid dressings, cushioning, and wound
care dressings. It can also be utilized for healthcare or medical device
construction and can be printed to create temporary tattoos.
- Polymers
segment is expected to account for largest revenue share in the global Polyethylene
Foam market over the forecast period owing to ability of polymers to
provide excellent cushioning. Polymer foams have wide application areas
due to resistance to impact, damping properties, high thermal insulation,
and lightweight.
- Flexible
foam segment is expected to register significant revenue growth over the
forecast period. Increasing utilization of flexible foam for patient and
medical device cushioning, bedding, wound dressings, and medical packaging
solutions is projected to continue to drive revenue growth of this
segment.
- Bedding
& cushioning segment is expected to account for a considerably robust
revenue share in the global Polyethylene Foam market. Rising prevalence of
non-communicable diseases due to sedentary lifestyle and increasing
geriatric population are expected to boost demand for bedding and
cushioning, which in turn, is driving usage of Polyethylene Foam.
- The
Polyethylene Foam market in Asia Pacific is expected to register fastest
revenue growth rate over the forecast period. Growth in the medical device
industry and rising spending on public and private healthcare facilities
in countries such as China and India are key factors driving rising demand
for Polyethylene Foam products for various applications in the healthcare
industry.
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Segments Covered in the report
Material Outlook (Revenue, USD Billion;
2018-2028)
- Latex
- Polymers
- Metals
Foam Type Outlook (Revenue, USD Billion;
2018-2028)
- Rigid
Foam
- Flexible
Foam
- Spray
Foam
Application Outlook (Revenue, USD Billion;
2018-2028)
- Medical
Packaging
- Bedding
& Cushioning
- Prosthetics
& Wound Care
- Medical
Devices & Components
- Others
Regional Outlook (Revenue, USD Billion;
2018-2028)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- MEA
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