The India expanded polyethylene foam market size is expected to reach
USD 140.0 million by 2025, according to a new report by Grand View Research,
Inc. It is projected to expand at a CAGR of 4.2% during the forecast period.
Growth of the automotive industry results in growth of related industries, such
as steel, plastics, and aftermarket services. Automotive market is the largest
end user of expanded polyethylene foam and molded products for numerous
applications owing to favorable mechanical and chemical properties of EPE foam.
Increasing use of thermoplastics in auto components as opposed to glass and
metal is expected to drive the market.
Expanded polyethylene foam is a
lightweight, strong, and recyclable material whose density and thickness can be
varied through technological processes. Foam of varied densities can be used to
cater to different applications including noise insulation, thermal insulation,
impact resistance, packaging, furniture, and consumer goods.
In addition, growing importance of green
building, which refers to the use of environmentally viable and
resource-efficient processes throughout a building’s lifecycle, is likely to
boost the demand for EPE foam as an insulating material. EPE is an ideal choice
for green building design as it utilizes recycled content and offers high
energy efficiency, which are tangible environmental advantages. This factor is
anticipated to drive the growth of expanded polyethylene foams market in India
over the forecast period.
Construction segment is projected to
witness the fastest market growth over the forecast period. EPE foam is
primarily used in roof toping, cladding, acoustic barrier under laying,
structural glazing, and false ceilings in construction sector. The real estate
sector in India is expected to grow at a good pace owing to various factors
including surge in FDI flows, rapid urbanization, increase in requirement of
commercial spaces, and smart city initiatives by the Government of Indi.
Therefore, construction sector is expected to be among the fastest application
sector for EPE foam in India over the forecast period.
North India is projected to witness the
fastest market growth over the forecast period. North Indian states are
expected to be the major electronics-manufacturing hubs during the forecast
period with a total of six Greenfield - Approved and Greenfield - In Principle
Approved electronics manufacturing clusters. Growing electronics demand, in
India, in light of increasing domestic demand along with presence of R&D
base is expected to augment growth in near future.
Some of the major automobile manufacturing
facilities situated in the Delhi-NCR (National Capital Region) include Maruti
Suzuki, Honda, Hero Moto Corp., and Yamaha. In addition, companies such as
Larsen & Toubro, Eicher, Volvo, Mahindra & Mahindra, and Hindustan
Motors have automobile manufacturing units in Pithampur, Madhya Pradesh.
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Further key findings from the report suggest:
· Insulation segment is projected to register
a revenue-based CAGR of 4.1% from 2017 to 2025
· Construction segment is likely to reach USD
22.3 million by 2025 owing to supportive government initiatives and growth in
construction activities
· In terms of revenue, the electronics
packaging segment is expected to expand at a CAGR of 4.0% over the forecast
period
· Automotive segment is likely to reach USD
32.1 million by 2025 owing to rising demand for vehicle and the presence of
major manufacturing plants in the country
· North India is anticipated to exceed USD
33.3 million by 2025
· The India Expanded Polyethylene market is
characterized by capacity expansion, capital expansions, and substantial
investment decisions to improve the market share of manufacturers
· Some of the prominent companies present in
the industry are Supreme Industries Limited, Raghav Industries Ltd., Royal EPE
Foam Private Limited, IRE-TEX Premier India Limited, Suvi International (P)
Ltd., Sri Sai Speciality Packagings & SSSP Safety Solution, Orion Pack Art,
and Laxmi EPE Foam Sheets, among others.
Grand View Research has segmented the India
expanded polyethylene foam market on the basis of application and region:
India Expanded Polyethylene (EPE) Foam
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Electronics Packaging
·
Mattresses
·
Insulation
·
Construction
·
Automotive
·
Others
India Expanded Polyethylene (EPE) Foam
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
East
·
West
·
North
·
South
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More Information: www.grandviewresearch.com
