The report is an illustrative sample demonstrating global Extruded Polypropylene Foam Market trends, product category type, and market status. The report will help you understand the various applications of the usage and features of the product. It also covers the present and past market scenarios, and market development patterns, and is likely to proceed with continuing development over the forecast period.
Market Overview:
The extruded polypropylene foam market was estimated at USD 681.5 million in 2021 and is likely to grow at a CAGR of 7.68% during 2022-2028 to reach USD 1151.78 million in 2028.
The mounting demand for extruded polypropylene foam from the automotive end-use industry is expected to propel the growth of the global market during the forecast period.
What is extruded polypropylene foam?
Extruded polypropylene foam is a kind of plastic form that is known for its environment-friendly nature. They are available in low-density extruded polypropylene foam form as well as high-density extruded polypropylene foam form.
Though automotive is the main application area of extruded polypropylene foam, there are also other areas where it is used such as packaging, building & construction, and others.
What you get in this report–
- People looking for growth potential with respect to product categories can get all the desired information in this report, along with supporting figures and facts.
- The report studies various competitive dynamics of the market by profiling key players to gain overall market growth.
- It also includes a significant amount of analytical data about the impact of these advancements on the future of market growth.
- The business development trends, and marketing networks are analysed in this study.
NOTE: Our analysts monitoring the market situation across the globe indicate that the market will generate compensable prospects for the manufacturers post COVID-19 crisis.
Market Segmentation –
Based on the type, the market is segmented as low-density extruded polypropylene foam (40-200 Kg/M3) and high-density XPP foam (200-600 Kg/M3). The low-density type segment held the larger share of the market in 2021. The low-density extruded polypropylene foam segment leads the market driven by the growing demand from protective packaging, automotive, and insulation applications. The automotive industry commands the consumption of low-density XPP foam. The use of low-density XPP foam in automotive applications aids in the weight reduction of vehicles and impact protection.
Based on the end-use industry type, the market is segmented as automotive, packaging, building & construction, and others. The automotive segment accounted for the largest share of the market in 2021 and is expected to continue its dominance during the forecast period as well. There is a high demand for extruded polypropylene foam in the automotive and packaging end-use industries. The automotive end-use industry governs the complete extruded polypropylene foam market.
In terms of regions, Asia-Pacific occupied a major chunk of the overall market in 2021 and is estimated to maintain this trend during the forecast period. The dominance of the region is corroborated by the rapid economic growth and growth of packaging, automotive, building & construction, and other end-use industries in the region. Rapid industrialization blended with the enhanced standard of living also positively impacts the growth of the market in the region.
Furthermore, the increasing disposable income in Asia-Pacific along with the high growth of the emerging economies makes it an attractive market for various end-use industries, and subsequently the XPP foam market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
The top leading players operating in the market:
The key players in the global Extruded Polypropylene Foam Market are –
- BASF SE
- Braskem
- DS Smith
- Furukawa Electric Co., Ltd.
- JSP Corporation
- Mitsui Chemicals
- NMC SA
- Pregis
- Toray Industries, Inc.
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About Us –
Stratview Research is a leading global Market Research firm providing expert research solutions, trusted by clients worldwide. This firm possesses a global presence to enable current market information using the most up-to-date methodology, best-in-class research techniques, and cost-effective approaches. It also surveys clients in several countries to provide you with the most comprehensive illustration of global trends and behaviours.
