Polypropylene Foams Market: Overview and Dynamics
Polypropylene foam is also known as expanded polypropylene foam which is a highly versatile foam material providing a range of properties such as high resistivity against water and chemicals. Attributed to its exceptional lightweight and impressive strength-to-weight ratio, polypropylene foam is primarily used in automotive applications.
Other unique properties such as outstanding energy absorption and thermal insulation polypropylene foams are emerging as a choice of material in the range of applications inducing consumer and industrial goods for foaming purposes. Owing to their proven aforementioned advantages polypropylene foams are set to replace polyethylene foam sheets in numerous applications including automotive and packaging applications.
The trend of vehicle light-weighting and momentum to reduce greenhouse gas emissions automotive industry has been in search for a decade for high strength material without comprising the strength. Owing to polypropylene foams’ exceptional advantages like lightweight and efficacy to offer flexibility in molding applications coupled with high impact resistivity, polypropylene foams have emerged as the ideal solutions for automotive manufacturers.
Increasing demand for polypropylene foams in the automotive industry is set to fuel the market growth during the forecast period. The scenario is likely to experience a high growth rate owing to surging demand for electrical vehicles which is projected to yield lucrative opportunities for market players. Attributed to the aforementioned facts, the global polypropylene foams market is poised to rise with a CAGR of ~6% over the forecast period (2020-2030).
COVID Impact Insights
The spread of the coronavirus has nearly crippled the entire world. Nearly all countries have imposed lockdowns and strict social distancing measures. This has forced to shut down almost every production plant across the globe. The spread of coronavirus has halted any kind of activity across borders affecting supply-demand equations. Fear of coronavirus has affected every industrial activity in every sector and so the polypropylene foams market.
As per new normal, a chunk of people is working from their home which has declined automotive sales by over 70 to 80%. The automotive industry is a primary consumer of propylene foam will have a direct impact on the market. However, ease of lockdowns in numerous countries and least affected countries are set to uplift the polypropylene foams market growth by the end of 2021.
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Polypropylene Foams Market: Regional Outlook
The report on the global polypropylene foams market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. Owing to presence of largest automotive manufacturing industry and one of the leading packaging industry across the globe, East Asia has accounted for major share in global polypropylene foams market in 2019.
The scenario is projected to continue on the back of China which is an automotive manufacturing hub and currently accounts for over half of the global electric vehicle market. East Asia is followed by North America on the back of United States which is poised to experience moderate growth rate.
Polypropylene Foams Market: Key Players
Prominent players in the global polypropylene foams market are JSP, K. K. Nag Ltd., FOAMTECH Ltd., Nomaco, Pregis LLC., Clark Foam Products, Kaneka Corporation, BASF, Mitsui Chemicals, and Hanwha Advanced Materials America. The polypropylene foams market is a partially fragmented one consisting of local and international players.
In order to meet the increasing demand for various densities of polypropylene foams as per applications, companies are offering products ranging from high, medium, and low-density foams. Companies like JSP, BASF, and Kaneka offer a range of products with different densities for specific applications. Further, market goliaths like BASF and JSP launched two new recyclable polypropylene foams in order to strengthen their market position over their competitors. The aforementioned factors are set to assist the polypropylene foams market growth during the forecast period.
The research report presents a comprehensive assessment of the polypropylene foams market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The polypropylene foams market report provides analysis and information, according to market segments such as geographies, grade, and application.
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The Polypropylene Foams Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Polypropylene Foams Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand , Rest of South Asia & Oceania)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Rest of MEA)
The polypropylene foams report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The polypropylene foams report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The polypropylene foams report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
The Polypropylene Foams Market Report Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Segmentation analysis of Polypropylene Foams Market:
The global polypropylene foams market is bifurcated into three major segments: grade, application, and region.
On the basis of grade, polypropylene foams market has been segmented as follows:
- High Density
- Medium Density
- Low Density
On the basis of application, polypropylene foams market has been segmented as follows:
- Consumer Products
- Lightweight Constructions
- Packaging and Logistics
On the basis of geographic regions, polypropylene foams market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
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