The market for expanded polypropylene (EPP) foam is anticipated to rise at an impressive CAGR of 11.40% from the forecast period of 2022 to 2032, reaching a value of US$ 4,962.51 Mn in 2032. The expanded polypropylene (EPP) foam market, expected to reach an estimated US$ 1,685.9 Mn in 2022, is propelled by increased demand from industries like consumer products, packaging, and furniture.
The market will continue to rise as a result of the expanding range of expanded polypropylene (EPP) foam applications, such as the usage of expanded polypropylene (EPP) foam sheets in a variety of sectors due to their excellent qualities.
The widespread use of EPP foam is a result of its excellent properties, which also include toughness, recyclable nature, chemical and water resistance, thermal insulation, and others. The automobile industry is increasingly using EPP foams because of their effective tolerance and buoyancy, and this industry is expanding, so the market for these materials is anticipated to increase quickly.
The expansion and development of numerous economies, as well as the rising demand for eco-friendly substitutes, are additional aspects that are driving demand in the target market.
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The past few years have witnessed a rise in the production of automobiles and consumer goods which in turn spurs the demand for expanded polypropylene (EPP) foam products. In addition to automobiles and consumer goods, expanded polypropylene (EPP) foam is widely used for protective applications in electronics and other items. This bodes well for the market as it will likely boost the commercial potential in the next few years.
The deep market penetration of EPP foam, growing industrial investment in major economies along with the easy availability of the product further augment the sales of the expanded polypropylene (EPP) foam in the global market during the forecast period.
Key Takeaways:
- Rising demand for eco-friendly materials in the automobile sector will strengthen the market.
- High prices, strict regulations, and availability of substitutes may stunt the market growth.
- By product type, the high-density segment accounts for the highest revenue share.
- Application in the automotive industry will lead the market growth.
- The Asia Pacific region is expected to dominate the global market.
- Europe and North America will together hold about 35% of the total market share.
Competitive Landscape
Furukawa Electric Co., Ltd, Knauf Industries, Dongshin Industry Inc., Kaneka Corporation, JSP Corporation, BASF SE, SSW Pearl Foam GmbH, Sonoco Products Company, Clark Foam, and Bradford Company among others are some of the major players in the expanded polypropylene (EPP) foam market profiled in the full version of the report.
Leading market players are keen on implementing better supply chain solutions. Incorporating an innovative value chain so as to continue their production without disruption is the primary focus of many businesses in the market.
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More Insights into Expanded Polypropylene (EPP) Foam Market Report
In its latest report, FMI offers an unbiased analysis of the global expanded polypropylene (EPP) foam market, providing historical data and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on grade type (low density, high density, porous PP), application (automotive, industrial packaging, consumer products, building & construction, others), and region.
According to the latest FMI reports, based on region, the expanded polypropylene (EPP) foam market in the Asia Pacific region is expected to grow substantially over the forecast period. Currently accounting for 52% of the revenue share, the target market in this region is mainly fueled by escalating demand in important industry verticals. The market in Japan is predicted to be one of the primary growth drivers in the APAC region. Building and construction sector coupled with the advancing automobile industry push the regional market growth through the assessment period.
Based on segmentation, in terms of the product type, the high-density product segment is predicted to account for the fastest CAGR during 2022-2032. On the basis of application, the automotive industry will likely hold a major share of the market revenue over the projected period.
Key Segments in The Expanded Polypropylene (EPP) Foam Market
By Grade Type:
- Low Density
- High Density
- Porous PP
By Application:
- Automotive
- Industrial Packaging
- Consumer Products
- Building & construction
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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