Expanded Polypropylene Foam Market worth USD USD 1,970.0 million by 2030

The Market Statsville Group (MSG) publishes the new report on the "Expanded Polypropylene Foam Market by Type (Low Density, High Density, and Porous PP), by Application (Automotive, Packaging, Consumer Products, and Others), by Region– Global Share and Forecast to 2030". The global expanded polypropylene foam market size is expected to grow from USD 1,323.3 million in 2021 to USD 1,970.0 million by 2030, at a CAGR of 5.1% during the forecast period. Expanded polypropylene is a highly versatile closed-cell bead foam that delivers a unique range of properties, comprising outstanding energy absorption, thermal insulation, multiple impact resistance, buoyancy, water, and chemical resistance, and extremely high strength to weight ratio and 100% recyclability. Expanded polypropylene can be made in an extensive range of densities, from 15 to 200 grams per liter, transformed by molding into densities ranging from 18 to 260 grams per liter. This foam is used in automotive bumpers and interior passenger safety components. It is used where rigid and high structural strength foams are essential in the packaging industry. Hence, the numerous benefits offered by expanded polypropylene foam boost the market growth.

Global Expanded Polypropylene Foam Market Segmentation

The overall expanded polypropylene foam market has been segmented into the component, waste type, method, application, and region.

• By Type (Low Density, High Density, and Porous PP)
• By Application (Automotive, Packaging, Consumer Products, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Automotive, by application, is estimated to hold the largest market share

Global expanded polypropylene foam market by application is bifurcated into automotive, packaging, consumer products, and others. Among them, automotive held the largest share of 45.1% in 2020 as it has wide applications of EPP in the automotive industry. Automotive expanded polypropylene (EPP) foam makes an integral part of the automotive manufacturing vertical with impressive elasticity, thermal resistance, recyclability, oil resistance, non-toxicity, and shock-proof nature. Automotive manufacturers extensively use it due to its performance benefits for energy management, lightweight, enhanced functionality, durability, and recyclability.

High-density grades of EPP are used where energy management is important such as automotive bumpers and interior passenger safety components. Applications of EPP in the automotive industry include seating, bumpers, stowage systems, door panels, pillars, floor levelers, parcel shelves, headrests, tool kits, sun visors, and various filler parts. The automotive industry is growing, which is also estimated to trigger growth in the expanded polypropylene foam market in the upcoming years. The extensive benefits of EPP foam material in impact resistance, energy, and shock absorption is fueling its adoption in diverse vehicles. The automakers are focusing on the increased use of automotive expanded polypropylene foam to capitalize on the accelerating trend of lightweight vehicles.

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Asia Pacific accounted for the largest market share

Based on the regions, the global expanded polypropylene foam market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 37.2% in the global expanded polypropylene foam market and was anticipated to maintain its dominance throughout the forecast period. China is dominating the Asia Pacific expanded polypropylene foam market followed by Japan. The Asia Pacific is anticipated to be the highest growing regional market due to the region's rising economies, including India, Japan, and China. Moreover, the present boom in the automotive sector is predicted to drive the expanded polypropylene foam markets in APAC.  

The increasing manufacturing activities in China are escalating the consumption of plastics and polymers in APAC, which is expected to drive the EPP foam market. China's automotive industry has been shaping for product evolution, with the country focusing on manufacturing products that ensure fuel economy and reduce emissions due to the increasing environmental concerns.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the expanded polypropylene foam market. It also consists of the profiles of leading companies such as Dongshin Industry, Inc., JSP Corporation, Kaneka Corporation, Furukawa Electric Co., Ltd., BASF SE, Hanwha Corporation, DS Smith plc, Sonoco Products Company, CLARK FOAM PRODUCTS, and Izoblok. These market players have focused on acquisitions and expansion to gain a larger market share in the expanded polypropylene foam market.

Browse complete report: https://www.marketstatsville.com/expanded-polypropylene-foam-market

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