Expanded Polypropylene Foam Market Is Expected To Witness Increased Growth Rates Of Revenue And CAGR Forecast 2025|Grand View Research, Inc.



The global expanded polypropylene foam market size is expected to reach USD 1.5 billion by 2027, according to a new report by Grand View Research, Inc., registering a revenue-based CAGR of 6.1% over the forecast period. The rapid growth of the automotive industry in recent years has been a major factor driving the market for EPP foam. Further, the increasing application scope of the product in the consumer goods, construction, and packaging industries is expected to have significant impact on the overall market over the coming years.
The product witnessed wide application in the automotive industry for the manufacture of floor, door, and hood panels, primarily for noise and thermal insulation in passenger and commercial cars. The considerable growth of the automotive industry in Germany, China, and India is expected to drive product demand over the projected period.
The increasing use of molded EPP foam products in protective and flexible packaging applications for numerous verticals, including medical, consumer electronics, food and beverages, household appliances, and industrial equipment, is expected to drive the market for EPP foam over the forecast period.
Research activities focused on new materials, which combine several properties, are projected to gain wide acceptance in the market for expanded polypropylene (EPP) foamin the coming years. Some of the prominent companies manufacturing these products include JSP Corporation; BASF SE; Kaneka Corporation; DS Smith plc; Furukawa Electric Co., Ltd.; Hanwha Corporation; Sonoco Products Company; Knauf Industries; IZOBLOK; Dongshin Industry, Inc.; Clark Foam Products Corporation; Paracoat Products Ltd.; Molan Pino South Africa (PTY) Ltd; and PDM Foam; and Armacell International S.A.
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The consumer goods vertical is expected to witness growth over the coming years, projected at a CAGR of 6.0% during the forecast period, in terms of revenue. The rapidly growing consumer goods industry across major economies of Asia Pacific, Europe, and North America is expected to drive product demand over the forecast years.
Further key findings from the repot suggest:
·         The market for expanded polypropylene (EPP) foam was estimated at USD 921.5 million in 2019 and is expected to grow at a significant rate during the forecast period on account of increasing application scope of the product in consumer goods and protective packaging industry verticals
·         The medium density segment accounted for a considerable share in 2019 and is expected to witness the highest growth rate of 6.1%, in terms of revenue, over the forecast period owing to increasing application scope in consumer goods and furniture applications
·         The consumer goods segment is expected to witness the highest revenue-based CAGR of 6.0% during the forecast period, primarily on account of increasing application scope in the rapidly growing consumer goods industry worldwide
·         The Asia Pacific region dominated the overall market for expanded polypropylene (EPP) foam, in terms of revenue in 2019 and is expected to witness the highest growth rate of 6.7% during the forecast period. This is attributed to high product application scope in the growing automotive, consumer goods, and packaging verticals
·         The key strategies adopted by the industry players include capacity expansions, mergers and acquisitions, technical collaborations, and distribution agreements
·         Key players include JSP Corporation; BASF SE; Kaneka Corporation; DS Smith plc; Furukawa Electric Co., Ltd.; Hanwha Corporation; Sonoco Products Company; Knauf Industries; IZOBLOK; Dongshin Industry, Inc.; Clark Foam Products Corporation; Paracoat Products Ltd.; Molan Pino South Africa (PTY) Ltd; PDM Foam; and Armacell International S.A.
The increasing demand for the product in consumer goods, furniture, and construction verticals can be attributed to the improved chemical and mechanical properties of expanded polypropylene. EPP foam offers high strength-to-weight ratio, chemical and water resistance, impact resistance, and ease of fabrication, which thereby offers scope for custom designing and printing.
The automotive industry uses a significant amount of EPP foam in floor, door panels, seats, and bumpers for acoustic management, thermal insulation, and impact absorption. The growing importance of reducing vehicle weight in order to improve fuel economy is expected to drive the demand for EPP foam in the automotive segment over the forecast period.
The increasing use of foam beads and moulded products in the packaging industry is a factor driving the market for expanded polypropylene (EPP) foam. The growing importance of protective and flexible packaging solutions across end-use verticals, such as electronics, FMCG, and industrial equipment, is expected to have a positive impact on the overall product demand over the coming years.
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The market for expanded polypropylene (EPP) foamfaces moderate to high competition on account of the presence of a large number of manufacturers, fabricators, and distributors in the industry. A majority of the companies follow an integrated approach from production of raw materials, to the manufacturing of EPP foam beads, to the distribution of moulded sheets and other moulded products to various end-use verticals.
The presence of relatively lower-priced substitutes such as Expanded Polyethylene (EPE) and expanded polycarbonate in the market further intensifies the competition. Expansions, mergers and acquisitions, technological collaborations, and distribution agreements are the key strategic initiatives implemented by the key players to diversify product portfolios and expand geographical reach in order to sustain competitive positions in the market for expanded polypropylene (EPP) foam.
Technological collaboration between manufacturers, fabricators, and end-use industries are crucial for growth, as moulding and fabrication technologies enable the players to improve their product quality, customization services, and customer reach.
Grand View Research has segmented the global expanded polypropylene foam market on the basis of product, end use:
Expanded Polypropylene (EPP) Foam Product Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
·         Low Density
·         Medium Density
·         High Density
Expanded Polypropylene (EPP) Foam End-use Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
·         Automotive
·         Packaging
·         Consumer goods
·         Appliances
·         Others

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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