Expanded Polypropylene Foam to Hurtle Toward US$ 1.6 Bn on Back of High Sustainability
Increasing penetration in multiple end-use industries such as packaging, consumer goods, and furniture will propel the global Expanded Polypropylene (EPP) foam market to grow 1.7x between 2019 and 2029. The rapid surge in production of automobiles and consumer goods warrants an increase in demand for expanded polypropylene foam products.
The eco-friendly and high-performance nature of expanded polypropylene (EPP) foam makes it an ideal material for a variety of applications such as elements of seats, bumpers, outdoor & indoor furniture, and FMCG products.
The demand of EPP foam is expected to gain additional traction, amidst increasing investments in manufacturing sectors across major economies. EPP foam plays a supplementary role in the manufacturing processes of many end-use industries. An increase in the manufacturing of these products will directly impact the demand for expanded polypropylene foam on a global level.
High Density EPP Foam to Augment Growth
High-density EPP foam acts as an efficient thermal insulator and energy absorber. It is employed in energy management situations such as automotive bumpers and passenger safety measures. High-density EPP foam will gain 1.6X growth through the forecast period with current market share of more than 53%.
However, medium density EPP foam presents remunerative growth opportunities as organizations find increasing EPP foam applications in consumer goods such as packaging, furniture, and gym accessories. Medium density EPP foam will grow at a dexterous growth rate of more than 6.5% throughout the forecast period.
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East-Asia to Account for Two-fifth Market Share, Opportunities Abound in South Asia & Oceania
East Asia will maintain a significant lead in the global expanded polypropylene foam market with a meteoric two-fifth market share. This can be attributed to economies such as China and Japan which account for majority of global EPP foam consumption and production.
Europe and North America collectively account for 35% of the expanded polypropylene foam market. Developed economies in these regions are extensively searching eco-friendly alternatives which drives the demand for recyclable EPP foam. South Asia & Oceania offer the most lucrative growth opportunities with a robust CAGR of 7% between 2019 and 2029.
Market Players Focus on Self-Sufficiency
The EPP foam market is characterized by presence of small, medium, and large companies. Some of the major players in expanded polypropylene foam market are BASF SE, JSP Corporation, DS Smith Plc, Kaneka Corporation, Hanwha Corporation, Sonoco Products Company, Knauf Industries, Dongshin Industry, Inc., Clark Foam Products Corporation, Paracoat Products Ltd, and PDM Foam. Among these, enterprise firms such as JSP Corporation and BASF SE host an integrated production chain which results in entry barriers for raw material suppliers. From raw materials to EPP foam beads, market players are focused on inculcating self-efficiency and eliminating dependencies on suppliers, distributors, and fabricators. The presence of substitutes such as Expanded Polyethylene (EPE) and Expanded Polycarbonate adds fuel to the competitive landscape of EPP foam market.
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Global Expanded Polypropylene Foam Market: In-Depth Assessment on Key Segments
The global expanded polypropylene foam market is segmented on the basis of type, end-use and region.
- Low Density
- Medium Density
- High Density
- Consumer goods
- Oil & Gas
- North America
- Latin America
- East Asia
- South Asia & Oceania
This taxonomy and the detailed toc prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.
Global Expanded Polypropylene Foam Market - Scope Of The Report
The following report provides forecast and analysis of the global expanded polypropylene foam market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of revenue (US$ Mn) and Volume (Tons), according to a Fact.MR study. The research propounds critical trends that are currently influencing growth within the global expanded polypropylene foam market along with several macro-economic indicators.
This newly published and insightful report on expanded polypropylene foam sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global expanded polypropylene foam market.
The report also comprises the study of current issues with end users and opportunities for expanded polypropylene foam. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of expanded polypropylene foam manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the expanded polypropylene foam market provided in the report adds to the credibility of this exhaustive research study.
Country-specific assessment on demand for expanded polypropylene foam has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous expanded polypropylene foam manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
Global Expanded Polypropylene Foam Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligenpolyce and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the expanded polypropylene foam market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the expanded polypropylene foam market, which includes global GDP growth rate, various industries growth rate, such as automotive, packaging and others. This report serves as an authentic resource of intelligence on the expanded polypropylene foam market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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