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Expanded Polypropylene Foam Market Size, Share Global Analysis Report, 2022 – 2028
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
Industry Insights
[209+ Pages Report] According to the report published by Facts Factors, the global expanded polypropylene foam market size was worth USD 972.40 million in 2021 and is estimated to grow to USD 1,310.57 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.10% over the forecast period. The report analyzes the expanded polypropylene foam market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the expanded polypropylene foam market.
Market Overview
Expanded polyethylene foam, often called EPE foam, is a type of polyethylene foam. It is typically created from expanded pellets (called "EPE beads") that are blasted into a mould and then expanded in a steam chest, similar to how expanded polystyrene foam is made. Expanded polypropylene produces low-density, semi-rigid, closed-cell foams midway between polyurethane and expanded polystyrene in stiffness/compliance. Expanded polypropylene foams are made starting with PE beads, just like expanded polystyrene foams. In the upcoming years, it is projected that product adoption in sectors including packaging, consumer products, and furniture will significantly impact market growth. Due to its expanding scope of application in numerous industries, the product's exceptional properties, such as durability, thermal insulation, chemical & water resistance, and recyclability, may be credited.
Covid-19 Impact:
The COVID-19 virus pandemic has had impacted the expanded polypropylene foam market negatively. Industries such as automotive, consumer goods, construction, and others were closed during the Covid-19 pandemic, and it caused the imposing of a lockdown due to the production of expanded polypropylene foam, reducing the global supply chain and the demand for the polypropylene foam market. And it is facing a loss of revenue due to the covid-19 pandemic.
Key Insights
- As per the analysis shared by our research analyst, the global expanded polypropylene foam market value is expected to grow at a CAGR of 5.10 percent over the forecast period.
- In terms of revenue, the global expanded polypropylene foam market size was valued at around USD 972.40 million in 2021 and is projected to reach USD 1,310.57 million by 2028.
- 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.
- North America dominated the expanded polypropylene foam market in 2021.
Drivers
- Increasing demand for expanded polypropylene foam in the automobile industry to drive market growth
The primary element driving the expansion of the global market for expanded polypropylene foams is the increased need for lightweight cars. Expanded polypropylene foam application can reduce foam consumption by up to 7%. EPP enhances body balance, aerodynamics, and vehicle weight reduction. EPP also contributes to reducing the emission of VOCs from automobiles and replacement parts. These elements are propelling the market for expanded polypropylene (EPP) foam. EPP foam is a suitable and helpful material in producing EVs, a trend toward adopting environmentally friendly automobiles spreading around the globe.
Restraints
- The price volatility concerned with materials likely to hamper the market growth
This material's price volatility is anticipated to affect the cost of finished goods, partially impeding market expansion. The expansion of the global expanded polypropylene (EPP) foam market in the near future may be further hampered by the lack of understanding about EPP foam.
Segmentation Analysis
The global expanded polypropylene foam market has been segmented into type, application type, and region.
Based on type, the market is classified into low density, high density, and porous PP. The high-density category dominated the market in 2021. The high growth can be attributed to the expansion of the automotive industry during the forecast period. An effective thermal insulator and energy absorber is high-density EPP foam. It is used in energy management applications like auto bumpers and passenger safety measures. With a market share of more than 53% today, high-density EPP foam will have a 1.6X rise throughout the projected period.
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. Automotive is expected to grow, retaining the leading position throughout the forecast period. The automotive industry uses a large amount of expanded polypropylene foam on the floor, door panels, and other factors that drive the market's growth.
Recent Developments
- October 2022: BASF added a new product in the Neopolen color grade family introduction. This product shows high sufferance of chemical and dynamic loading.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 972.40 Million |
Projected Market Size in 2028 |
USD 1,310.57 Million |
CAGR Growth Rate |
5.10% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
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, Chemische Fabrik Budenheim Kg, Clark Foam Products KK Nag Ltd, Knauf Industries., and others. |
Key Segment |
By Type, Application Type, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Regional Landscape
- North America dominated the market in 2021
The North American region dominated the global expanded polypropylene foam market in revenue production in 2021. To create a larger market for polypropylene foam, North America is doing research and development initiatives to create new products and technologies. Companies benefit from the cost advantages. As a result, raising their profit margin. Additionally, the technology of government programs to support an expanded polypropylene foam market also contributes to the market expansion in the area. As a result, it is anticipated that these factors will help the North American market expand.
Competitive Landscape
- JSP Corporation
- Kaneka Corporation
- Hanwha Chemical Corporation
- BASF SE
- Furukawa Electric Co. Ltd.
- DS Smith PLC
- Sonoco Products Company
- Woodbridge
- Auto Multi Styrene
- Chemische Fabrik Budenheim Kg
- Clark Foam Products KK Nag Ltd
- Knauf Industries.
Global Expanded Polypropylene Foam market is segmented as follows:
By Type
- Low density
- High density
- Porous PP
By Application Type
- Automotive
- Packaging
- Consumer goods
- Others
By Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major 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
- Chemische Fabrik Budenheim Kg
- Clark Foam Products KK Nag Ltd
- Knauf Industries.
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