Expanded Polypropylene Foam Market was valued at USD 1125 Million in 2023, and it is expected to reach USD 1725.40 Million by 2030, exhibiting a CAGR of 6.3 % during the forecast period (2024-2030) The market for expanded polypropylene foam (EPP) is estimated to grow at a 6.3% CAGR from 2024 to 2030, thanks to the increasing usage of foam beads and moulded products in the consumer goods, packaging, and automotive industries. The rapid growth of the automotive sector is likely to increase demand for Expanded Polypropylene Foam over the forecast period. The increasing penetration of thermoplastics for use in vehicle components over glass and metal is expected to offer up new possibilities for the growth of the Expanded Polypropylene Foam business. The Asia Pacific region dominated the Expanded Polypropylene Foam market in 2023, accounting for more than 56.26% of total volume demand. The region's high automotive and consumer goods production activity has been important contributors to this rising demand. The presence of important players in the region is expected to drive the EPP foam market growth. JSP Corporation, BASF SE, Kaneka Corporation, and DS Smith are among the major players in the Expanded Polypropylene Foam sector. These businesses provide a wide range of foam materials as well as fabrication and distribution services. To maintain their position in the Expanded Polypropylene Foam market, manufacturers are focused on product innovation with improved qualities and cheaper costs.To know about the Research Methodology :- Request Free Sample ReportExpanded Polypropylene Foam Market Dynamics
Robust Growth in the Automotive Industry is Estimated to Drive the Growth of Expanded Polypropylene Foam Market Automotive market is the largest end user of expanded polypropylene foam and molded products for numerous applications owing to the improved mechanical and chemical properties offered by EPP foam. The increasing use of thermoplastics for use in auto components in comparison to glass and metal is expected to drive the demand for EPP foam. The technological changes in automotive industry and the growing focus on energy efficient, light, and durable materials have led to the use of PVC, PE, PU, PP, and acrylic materials for auto parts including trim components, floor, hood & door panels, and bumper parts. The growing demand for electronic and hybrid cars has further augmented the demand for light and durable materials. This is expected to drive the Expanded Polypropylene Foam Market demand for EPP foam in automotive industry over the forecast period. Asia Pacific is the largest automotive market across the globe owing to the rapid growth in the region in the past few years on account of the presence of major key players and emerging economies such as India, China, and Japan. The increasing penetration of plastics and foam products for automotive components is expected to drive the Expanded Polypropylene Foam industry growth. Increasing Demand from Various Application Industries is Expected to Drive the Expanded Polypropylene Foam Market The market for expanded polypropylene foam is estimated to expand due to its growing usage in end uses. The increasing use of lightweight, reusable, and non-toxic materials in furniture, automotive components, packaging solutions, sealing, ducting, and electronic items is likely to boost EPP foam demand. Protective packaging for industrial, domestic, and automotive components and equipment has grown rapidly in recent years, thanks to increased manufacturing and transportation activity in major nations. Heavy and light commodities require protective packaging during transit to minimise damage and breakage, which is expected to increase demand for more effective and impact-resistant packaging materials. The rising necessity of non-toxic, chemically stable food packaging solutions is likely to fuel the Expanded Polypropylene Foam Market demand for EPP foam materials over the forecast period. The increased relevance of cushioning and comfort in furniture such as bean bags, recliners, medical chairs, and mattresses is likely to have an influence on the growth of the Expanded Polypropylene Foam industry. Fluctuating Raw Material Prices is Expected to Restraint the Expanded Polypropylene Foam Market Growth The expanded polypropylene foam market is expected to see changing raw material costs during the forecast period. The principal raw material utilised in the manufacturing of expanded polypropylene foam beads is polypropylene. The price volatility of PP has a direct impact on the cost of manufacturing EPP and moulded items. Rising oil prices are expected to stimulate oil production, which will have an influence on the supply and output of petrochemicals. Furthermore, the growing use of advanced chemicals and polymers for the production of paints, varnishes, polymers, ethylene, polyurethane, resins, PVC, and others due to the growing industrial applications such as packaging, pharmaceuticals, transportation, and building & construction is expected to erode raw material availability. Polypropylene price fluctuations are expected to impede demand for EPP foam and moulded goods, as an increase in raw material prices is estimated to lead to an increase in manufacturing costs, which is expected to immediately reflect in changing product pricing. Furthermore, the availability of replacements with similar uses, such as expanded polyethylene, polycarbonate, and polystyrene, may reduce demand for expanded polypropylene. Differently priced alternatives are also expected to restrict EPP foam market growth during the forecast period.Expanded Polypropylene Foam Market Segment Analysis Expanded Polypropylene Foam Industry Based on Product Type, Low-density EPP foam segment held the largest market share in 2023 and is expected to grow at a CAGR of 5.6% from 2024 to 2030. Low-density expanded polypropylene foam segment is expected to witness substantial growth over the forecast period on account of increasing utilization of light and non-toxic foam in packaging applications. Rising demand for high-impact resistant packaging solutions for consumer electronics and equipment is likely to have a positive impact on the Expanded Polypropylene Foam market growth. Packaging industry has witnessed significant growth over the past few years on account of increased manufacturing, construction, and transportation activities across the globe, primarily in emerging economies. Growing importance of custom packaging solutions for industrial equipment, electronics, and medical devices is expected to drive the demand for packaging solutions, which, in turn, is expected to boost the demand for low density EPP foam over the forecast period. Expanded Polypropylene Foam Market Based on End-Use Industry, automotive was the leading end use segment for expanded polypropylene (EPP) foam and accounted for 42.68% of the total Expanded Polypropylene Foam industry volume in 2023. Expanded polypropylene (EPP) foam used in packaging undergo various development phases to cope up with regulatory guidelines and end–user requirements. Increased shelf life of food products, better performance towards wear & tear, durability are a few requirements that plastics need to meet for packaging end uses. Packaging end use is expected to gain market share over the forecast period and is expected to account for 27.83% of the total volume by 2030. Growing plastics demand for end use such as fittings & couplings, industrial tools, food handling equipment, personal computers (PC), laptops and cellular phones are expected to drive market growth for consumables and electronics end uses.Expanded Polypropylene Foam Market Regional Insights
In 2023, Asia Pacific dominated the expanded polypropylene foam industry, accounting for 56.26% of total volume. Expanded polypropylene (EPP) foam demand in the Asia Pacific area is expected to be driven by rising consumer goods expenditure and rising car demand in nations such as China, India, Indonesia, and Malaysia. This region's expanded polypropylene foam industry share is expected to increase and account for 58.84% of total volume by 2030. Consumer goods and electronics manufacturing businesses in China, India, and Singapore are rapidly expanding as a result of fast industrialisation, abundant raw resources, and simple labour availability. In 2023, China's exports amounted for roughly 29.38% of its GDP, and it remained one of the world's leading exporters of consumer durables and vehicle components. These are expected to be the most important elements influencing the growth of the consumer goods and electronics sectors in this region. Europe was the second-largest end-use market for EPP foam. This region accounted for 20.36% of total volume in 2023 and is expected to lose market share to Asia Pacific, which will account for 19.47% by 2030. The thriving car industries in Germany and the United Kingdom are the key drivers of increased demand for expanded polypropylene foam in this region. The automobile sector, as the product's primary end-use category, is expected to maintain its dominance in Europe, with strong growth in the automotive markets of the United Kingdom, Spain, Germany, and France. Because of the existence of automotive behemoths such as Volkswagen AG, Daimler AG, MAN Trucks, and BMW AG, Germany is predicted to have the highest growth during the forecast period. Furthermore, the quickly developing consumer goods industry in key economies such as Germany, France, Spain, and Russia is likely to drive demand for grow polypropylene foam during the forecast period. Rising consumer goods demand at e-tail retailers and discounters is expected to drive demand for the usage of EPP in packaging and consumer products. This tendency may be seen throughout Europe, most notably in Germany, France, Italy, Spain, and the United Kingdom.Expanded Polypropylene Foam Market Scope: Inquire before buying
Global Expanded Polypropylene Foam Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US $ 1125 Mn. Forecast Period 2024 to 2030 CAGR: 6.3% Market Size in 2030: US $ 1725.40 Mn. Segments Covered: by Product Type Low-density Medium-density High-density by Application Bumpers Roof Pillars Seat Bracing Armrests Others by End-Use Industry Automotive Packaging Consumer Goods Appliances Others Expanded Polypropylene Foam Market Key Players are:
North America: 1. Sonoco Products Company (U.S.) 2. Clark Foam Products Corp. (U.S.) 3. SP Corporation (U.S.) 4. Package Design & Manufacturing Inc. (U.S.) 5. Woodbridge Group (Canada) 6. JSP Corp. (Japan) 7. Kaneka Corp. (Japan) 8. Furukawa Electric Co., Ltd. (Japan) 9. Hanwha Corp. (South Korea) 10. Polyfoam Australia Pty Ltd (Australia) 11. BASF SE (Germany) 12. DS Smiths plc (UK) 13. Knauf Industries (France) 14. IZOBLOK (Poland) 15. Armacell International S.A. (Switzerland) 16. Chemische Fabrik Budenheim KG (Germany) 17. Automa Multi Styrene (Pty) Ltd (South Africa) Frequently Asked Questions: 1] What is the current size of the global Expanded Polypropylene Foam market? Ans. The current size of the global Expanded Polypropylene Foam market USD 1125 Mn. in 2023. 2] What are the major players currently dominating the global Expanded Polypropylene Foam market? Ans. JSP Corp. (Japan), BASF SE (Germany), DS Smiths plc (UK), Knauf Industries (France), Kaneka Corp. (Japan), Furukawa Electric Co., Ltd. (Japan) are among the major players currently dominating the global Expanded Polypropylene Foam market. 3] Which Expanded Polypropylene Foam market segment has the potential to register the highest market share during the forecast period? Ans. The automotive end-user segment has the potential to generate highest revenue share of the Expanded Polypropylene Foam market, in terms of volume and value, during the forecast period. 4] Which is the dominating region in the global Expanded Polypropylene Foam market? Ans. Asia Pacific region is the dominating region in the global Expanded Polypropylene Foam market. Countries like China, India, Taiwan, Japan, Malaysia, Thailand, South Korea are emerging economies with fastest-growing market share of the region. 5] What is the major factor driving the growth of Expanded Polypropylene Foam market in the Asia Pacific region? Ans. Increase in demand for Expanded Polypropylene foam from automotive and packaging industry is one of the factor driving the growth of Expanded Polypropylene Foam market in Asia Pacific region.
1. Global Expanded Polypropylene Foam Market: Research Methodology 2. Global Expanded Polypropylene Foam Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Expanded Polypropylene Foam Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Expanded Polypropylene Foam Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Expanded Polypropylene Foam Market Segmentation 4.1 Global Expanded Polypropylene Foam Market, by Product Type (2023-2030) • Low-density • Medium-density • High-density 4.2 Global Expanded Polypropylene Foam Market, by End-Use Industry (2023-2030) • Automotive • Packaging • Consumer Goods • Appliances 4.3 Global Expanded Polypropylene Foam Market, by Application (2023-2030) • Bumpers • Roof Pillars • Seat Bracing • Armrests • Others 5. North America Expanded Polypropylene Foam Market(2023-2030) 5.1 North America Expanded Polypropylene Foam Market, by Product Type (2023-2030) • Low-density • Medium-density • High-density 5.2 North America Expanded Polypropylene Foam Market, by End-Use Industry (2023-2030) • Automotive • Packaging • Consumer Goods • Appliances 5.3 North America Expanded Polypropylene Foam Market, by Application (2023-2030) • Bumpers • Roof Pillars • Seat Bracing • Armrests • Others 5.4 North America Expanded Polypropylene Foam Market, by Country (2023-2030) • United States • Canada • Mexico 6. Europe Expanded Polypropylene Foam Market (2023-2030) 6.1. European Expanded Polypropylene Foam Market, by Product Type (2023-2030) 6.2. European Expanded Polypropylene Foam Market, by End-Use Industry (2023-2030) 6.3. European Expanded Polypropylene Foam Market, by Application (2023-2030) 6.4. European Expanded Polypropylene Foam Market, by Country (2023-2030) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Expanded Polypropylene Foam Market (2023-2030) 7.1. Asia Pacific Expanded Polypropylene Foam Market, by Product Type (2023-2030) 7.2. Asia Pacific Expanded Polypropylene Foam Market, by End-Use Industry (2023-2030) 7.3. Asia Pacific Expanded Polypropylene Foam Market, by Application (2023-2030) 7.4. Asia Pacific Expanded Polypropylene Foam Market, by Country (2023-2030) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Expanded Polypropylene Foam Market (2023-2030) 8.1 Middle East and Africa Expanded Polypropylene Foam Market, by Product Type (2023-2030) 8.2. Middle East and Africa Expanded Polypropylene Foam Market, by End-Use Industry (2023-2030) 8.3. Middle East and Africa Expanded Polypropylene Foam Market, by Application (2023-2030) 8.4. Middle East and Africa Expanded Polypropylene Foam Market, by Country (2023-2030) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Expanded Polypropylene Foam Market (2023-2030) 9.1. South America Expanded Polypropylene Foam Market, by Product Type (2023-2030) 9.2. South America Expanded Polypropylene Foam Market, by End-Use Industry (2023-2030) 9.3. South America Expanded Polypropylene Foam Market, by Application (2023-2030) 9.4 South America Expanded Polypropylene Foam Market, by Country (2023-2030) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Sonoco Products Company (U.S.) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Clark Foam Products Corp. (U.S.) 10.3 SP Corporation (U.S.) 10.4 Package Design & Manufacturing Inc. (U.S.) 10.5 Woodbridge Group (Canada) 10.6 JSP Corp. (Japan) 10.7 Kaneka Corp. (Japan) 10.8 Furukawa Electric Co., Ltd. (Japan) 10.9 Hanwha Corp. (South Korea) 10.10 Polyfoam Australia Pty Ltd (Australia) 10.11 BASF SE (Germany) 10.12 DS Smiths plc (UK) 10.13 Knauf Industries (France) 10.14 IZOBLOK (Poland) 10.15 Armacell International S.A. (Switzerland) 10.16 Chemische Fabrik Budenheim KG (Germany) 10.17 Automa Multi Styrene (Pty) Ltd (South Africa)