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Expanded polyethylene is a harmless plastic with no odor and taste that is highly used in manufacturing. It is a thermoplastic resin and can be refrigerated or heated to reshape and form various objects and figures. Expanded polyethylene is resistant to chemical, water, and oil. Business Research Insights states that the expanded polyethylene market size was USD 2,242.67 million in 2020 and is expected to grow at a CAGR of 9.57% during the forecast period. The increasing adoption of emerging technologies and technical infrastructure development is anticipated to fuel industrial growth.
Halted Construction Projects Amid Pandemic Affected Industrial Growth
The widespread coronavirus created a huge impact on the construction industry. Governments imposed strict restrictions on construction activities, due to which the majority of the projects were halted. Also, supply chain disruptions affected raw material supplies required in various industries, which hampered the productivity and profitability of several companies operating in the expanded polyethylene industry. The workforce was instructed to operate at 50% capacity to restrict virus spread. However, the post-pandemic scenario is expected to support the growth of various companies operating in the industry.
Below Mentioned are the Profiles of 10 Leading Companies Operating in the Expanded Polyethylene Industry:
1. Sealed Air
Sealed Air is a packaging company established in 1960 and headquartered in North Carolina, U.S. The company is known for its brand's Bubble Wrap cushioning packaging and Cryovac food packaging. Sealed Air is specialized in manufacturing fabricated foams that are exported globally.
2. Kaneka Corporation
Kaneka Corporation is a Japanese company headquartered in Tokyo, Japan. The company was established in September 1949. It manufactures and sells its goods in various countries to globalize its brand and propel growth.
3. Armacell
Armacell is a globalized manufacturer and supplier of industrial foams and flexible insulation materials. The company is headquartered in Luxembourg, Germany and was established in June 2000. It is a leading provider of engineered foams focusing on various industries. Armacell has 25 production plants in around 17 countries.
4. Sekisui Chemical
Sekisui Chemical is a leading plastic manufacturer headquartered in Tokyo, Japan. The company was established in 1947 and is now a globalized brand. Sekisui Chemical owns several subsidiaries and is present in over 18 countries. The company manufactures and sells various products in several industries to improve its business performance.
5. Sonoco
Sonoco is a U.S.-based company that provides several products in consumer packaging, industrial packaging, protective packaging, and packaging supply chain services. The company was established in 1899 and is headquartered in South Carolina, U.S. It is also known as the largest producer of tubes, cores, and cans.
6. Pregis Holding Corp
Pregis Holding Corp is headquartered in Illinois, U.S. and is known as one of the leading manufacturers of protective packaging. The company believes in designing specialized packaging products according to industrial needs and requirements to ensure customer satisfaction.
7. Furukawa Electric Co. Ltd.
Furukawa Electric Co. Ltd. is a Japanese company operating in the electric and electronic equipment sector. The company was established in 1896 and is headquartered in Tokyo, Japan. It manufactures electric products such as optical fibers and electric wire cables.
8. Plymouth Foam LLC
Plymouth Foam LLC is a stakeholder-centric company headquartered in the U.S. The company focuses on manufacturing and delivering foam products for construction, packaging, display, shipping, and OEM sectors.
9. Wisconsin Foam Products Inc.
Wisconsin Foam Products Inc. is headquartered in the U.S. and is a well-known manufacturer of packaging products. The company focuses on delivering its products in various end-use industries to propel growth and globalize its brand.
10. Sansheng
Sansheng was established in 1988 and is headquartered in China. The company operates in various business verticals and is known as one of the leading companies globally.
Infrastructural Development and Production of Packaging Foam to Support Industrial Growth
The leading companies in the industry are focusing on introducing new packaging products to serve several industries. Also, the increasing adoption of infrastructural development is anticipated to bolster the industrial growth. Furthermore, rapid development in the chemical industry and increasing production of high-quality packaging foam are projected to escalate the business of leading expanded polyethylene companies in the forthcoming years.