According to Facts and Factors, the Global Expanded Polypropylene Foam Market size was worth at around USD 972.40 Million in 2021 and is estimated to grow about USD 1,310.57 Million by 2028, at a CAGR of approximately 5.10% between 2022 and 2028. The key players are covered in the report are JSP Corporation, Kaneka Corporation, Hanwha Chemical Corporation, BASF SE, Furukawa Electric Co., Ltd., DS Smith PLC, Sonoco Products Company, Woodbridge, Auto Multi Styrene, FabrikBudenheim KgClark Foam Products K.K. Nag Ltd, Knauf Industries, and others.
TOKYO, JAPAN, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Expanded Polypropylene Foam Market Size, Share, Growth Analysis Report By Type (Low Density, High Density, Porous PP), By Application Type (Automotive, Packaging, Consumer Goods, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
The report analyses the Expanded Polypropylene Foam market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Expanded Polypropylene Foam market.
Expanded Polypropylene Foam Market Overview:
Polyethylene foam includes expanded polyethylene foam, sometimes referred to as EPE foam. Similar to how expanded polystyrene foam is formed, it is normally made from expanded pellets (also known as "EPE beads") that are blown into a mould and then expanded in a steam chest.
Low-density, semi-rigid, closed-cell foams made of expanded polypropylene are halfway between polyurethane and expanded polystyrene in stiffness/compliance. Like expanded polystyrene foams, expanded polypropylene foams are created by starting with PE beads.
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Key Insights from Primary Research
As per the analysis, the Expanded Polypropylene Foam market is likely to grow above a CAGR of around 5.10% between 2022 and 2028.
The Expanded Polypropylene Foam market size was worth around US$ 972.40 Million in 2021 and is estimated to hit approximately US$ 1,310.57 Million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
The expanded polypropylene foam market is expected to increase rapidly during the forecast period due to increasing demand from automotive, packaging, and other industries.
By type, the high-density category dominated the market in 2021.
By application, the automotive category dominated the market in 2021.
On the basis of region, North America dominated the expanded polypropylene foam market in 2021.
Industry Growth Drivers
Increasing demand for expanded polypropylene foam in the automobile industry to drive market growth
Product adoption in industries including packaging, consumer goods, and furniture is anticipated to impact overall market growth throughout the foreseeable years majorly. The product's remarkable qualities, including durability, chemical & water resistance, thermal insulation, and recyclability, can be attributed to its expanding application breadth in various industries. The production of vehicles and consumer goods has increased due to expanding industrial investment across major economies. In turn, this will probably increase demand for moulded goods and expanded polypropylene foam beads in the following years. Over the period, product demand is anticipated to be driven by the rising need for materials resistant to chemicals and water in the packaging and consumer products industries.
Price volatility concerned with materials likely to hamper the market growth
However, it is anticipated that the price volatility linked to this material will affect the cost of finished goods, partially impeding the global expanded polypropylene market expansion. Expanded polypropylene foam is subject to the laws governing safety requirements and chemical component dangers.
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The report contains qualitative and quantitative research on the global Expanded Polypropylene Foam Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Expanded Polypropylene Foam market include:
Hanwha Chemical Corporation
Furukawa Electric Co. Ltd.
DS Smith PLC
Sonoco Products Company
Auto Multi Styrene
Clark Foam Products KK Nag Ltd
Expanded Polypropylene Foam Market: Segmentation Analysis
The global expanded polypropylene foam market has been segmented by type, application type, and region.
Based on type, the market is classified into low density, high density, and porous PP. High-density category dominated the market in 2021.
Based on application type, the market is classified into automotive, packaging, consumer goods, and others. The automotive segment accounted for the largest market share in 2021.
Browse the full “Expanded Polypropylene Foam Market Size, Share, Growth Analysis Report By Type (Low Density, High Density, Porous PP), By Application Type (Automotive, Packaging, Consumer Goods, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/expanded-polypropylene-foam-market
The global expanded polypropylene foam market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. In 2021, the North American region dominated the market in revenue generation. North America is doing research and development activities to develop new products and technology to produce an expanded polypropylene foam market. This gives companies a competitive advantage in cost benefits, thus increasing the profit margin.
Moreover, the technology of government initiatives to encourage an expanded polypropylene foam market also helps drive the region's market growth. Therefore, these factors are expected to support the market expansion in the North American region.
Recent Industry Developments:
January 2021: The kanaka corporation reported a USD 17 Million investment to expand Eperan potential for expanded PE and PP particulate foams
Market Size in 2021
USD 972.40 Million
Projected Market Size in 2028
USD 1,310.57 Million
CAGR Growth Rate
Key Market Players
JSP Corporation, Kaneka Corporation, Hanwha Chemical Corporation, BASF SE, Furukawa Electric Co. Ltd., DS Smith PLC, Sonoco Products Company, Woodbridge, Auto Multi Styrene, ChemischeFabrikBudenheim Kg, Clark Foam Products KK Nag Ltd, Knauf Industries., and others.
By Type, Application Type, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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The global Expanded Polypropylene Foam market is segmented as follows:
By Application Type
Rest of Europe
Rest of Southeast Asia
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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