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Extruded Polypropylene (XPP) Foam Market

Extruded Polypropylene (XPP) Foam Market

Extruded Polypropylene (XPP) Foam Market By Type (High Density, Low Density XPP), By End Use (Automotive, Packaging, Building & Construction) - Global Forecast 2022 to 2032

Extruded Polypropylene (XPP) Foam Market
FACT7408MR

Extruded Polypropylene (XPP) Foam Market Outlook (2022-2032)

The global extruded polypropylene (XPP) foam market is expected to reach US$ 1.75 billion in valuation by 2032, up from its current size of US$ 903.8 million, expanding at a CAGR of 6.9% throughout the forecast period (2022-2032).

Report Attributes

Details

Extruded Polypropylene (XPP) Foam Market Size (2022)

US$ 903.8 Million

Predicted Net Value (2032F)

US$ 1.75 Billion

Global Market Growth Rate (2022-2032)

6.9% CAGR

North America XPP Foam Market Revenue (2032)

US$ 646 Million

Key Companies Profiled

  • Borealis AG
  • Mitsui Chemicals Tohcello Inc.
  • BASF
  • Sekisui Voltek
  • Sonoco Products
  • DS Smith Plc
  • NMC SA
  • Pregis LLC
  • Zotefoams Plc
  • Sumitomo Chemical
  • Furukawa Electric Co. Ltd.
  • Toray Industries Inc.
  • Braskem
  • JSP Corporation

Rising demand for polypropylene foams in industry verticals such as automotive is expected to prominently drive the sales of extruded polypropylene foam. Increasing usage of extruded PP foam in the packaging industry is also expected to bolster extruded polypropylene (XPP) foam market growth. The packaging end-use segment currently accounts for a revenue of US$ 333.9 million.

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Extruded Polypropylene Foam Consumption Analysis (2017-2021) in Comparison to Market Growth Forecasts (2022-2032)

Sales of extruded polypropylene foam are projected to witness a steady rise over the coming years owing to rising demand for XPP foam in various end-use industries. Over the historic period of 2017 to 2021, the extruded polypropylene foam market expanded at a CAGR of 6.3% and account for a valuation of US$ 856.2 million at the end of 2021.

Increasing urbanization and industrialization are expected to fuel demand for infrastructure development and will result in an increase in construction activities across the world. This factor is expected to prominently drive the XPP foam market over the coming years.

The recyclable nature of XPP foam is a major factor that is driving its use in various industry verticals as they adhere to sustainability mandates. The increasing use of extruded PP foam in the automotive industry is also expected to favor extruded PP foam consumption across the forecast period.

Demand for extruded polypropylene foam, extruded polyethylene foam, and extruded polyolefin foam is expected to witness a steady increase over the forecast period.

However, the high costs of extruded polypropylene foam are expected to have a negative impact on the global XPP foam market through 2032.

Overall, the global extruded polypropylene foam market is projected to evolve at a CAGR of 6.9% from 2022 to 2032.

Extruded polypropylene xpp foam market forecast by Fact.MR

Why is Extruded Polypropylene Foam Demand Rising Significantly?

“Rapidly Rising Extruded PP Foam Usage in Automotive & Construction Sectors”

The extruded polypropylene foam market is set to be majorly driven by high demand from the automotive and construction sectors as they experience an increase in the scope of application of XPP foam.

The characteristic properties of extruded polypropylene foam such as high temperature and chemical resistance, good strength to weight ratio, and recyclability are all highly desirable for construction and automotive applications and hence are predicted to see a prominent rise in use in these industries. Expanded polypropylene foam is also expected to see a steady rise in demand in the automotive industry.

Moreover, increasing focus on using recyclable materials in these industries to attain sustainability goals is also expected to bolster extruded polypropylene foam market growth.

Which Region Leads the Consumption of Extruded Polypropylene Foam?

“North America Handsomely Leads Global Extruded PP Foam Market”

Fact.MR, a market research and competitive intelligence provider, has provided a detailed regional assessment of global market statistics in this extruded polypropylene foam market study.

The North America polypropylene foam market currently holds a dominant market share and is slated to maintain this stance across the forecast period as well. Increasing construction activity and rising demand for lightweight vehicles in this region is expected to prominently influence demand for extruded polypropylene foam throughout the forecast period.

The extruded polypropylene foam market in the region stands at a net value of US$ 295.3 million and is anticipated to reach US$ 646 million by the end of 2032.

The Asia Pacific region is expected to exhibit highly rewarding opportunities for extruded polypropylene foam manufacturers in the years to come. Rapid industrialization, increasing migration from rural to urban areas, and rising construction activities in this region are expected to shape the XPP foam market potential in this region.

China, India, Japan, and South Korea are predicted to be the most notable markets in this region across the forecast period. The extruded PP foam market in the Asia Pacific region is projected to rise at a CAGR of 6% and hold a net worth of US$ 424.2 million by 2032.

The Europe extruded polypropylene foam market is also predicted to account for a significant market share of 27.8% in the global landscape by the end of the forecast period. The United Kingdom and Germany are expected to be at the forefront of growth in this regional market across the forecast period.

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Country-wise Insights

Why is China a Potentially Lucrative Market for Extruded Polypropylene Foam Vendors?

“Increasing Construction Activity to Provide New Market Opportunities”

China is witnessing a substantial increase in construction activity owing to increasing industrialization and urbanization in the country. The government of China is also launching supportive initiatives and new construction projects to promote infrastructure development.

Increasing use of extruded PP foam in the construction industry will bolster market growth in the country over the coming years. Moreover, the presence of a flourishing automotive manufacturing industry is also predicted to provide new opportunities for extruded polypropylene foam manufacturers.

The market for extruded polypropylene foam in China stands at US$ 63.5 million and is expected to expand at a CAGR of 6.5% throughout the forecast period.

Category-wise Insights

Which Type of XPP Foam Will Drive Market High Market Expansion?

“Low Density XPP Foam to Witness High Demand across Geographies”

Increasing use of low density extruded PP foam in automotive and packaging industries due to their lightweight and high energy absorbing characteristics are expected to boost their sales through 2032. Low density XPP foam sales are projected to account for a revenue total of US$ 1.13 billion by the end of 2032.

On the other hand, high density XPP foam demand is expected to increase at a CAGR of 6.4% across the forecast period and this segment is anticipated to account for a market share of 35.4% by 2032.

Which End-use Segment Accounts for Highest Extruded Polypropylene Foam Sales?

“Automotive Industry Leads XPP Foam Market Growth”

Automotive manufacturers are increasing the use of low density XPP foam in their vehicles to reduce the overall weight without compromising the shock-absorbing capacity of the vehicle. The reduced weight also contributes to higher fuel efficiency in vehicles which is a popular factor that consumers demand amid rising fuel prices.

Extruded PP foam sales in the automotive end-use segment are expected to rise at a CAGR of 7.4% over the forecast period and are projected to account for a dominant market share of 45.1% by the end of 2032.

This research study also provides an informative assessment of the packaging and building & construction end-use segments.

COVID-19 Pandemic Impact Evaluation

In 2020, the world was plagued with coronavirus infections which led to a global pandemic. This pandemic had a negative impact on the world economy and caused multiple markets to topple as the world was not equipped for an event of this magnitude.

Lockdown restrictions across multiple nations led to the closure of industries and manufacturing facilities and resulted in a negative extruded polypropylene foam demand trend.

However, demand for extruded polypropylene foam has recovered in the post-pandemic era as industries and trade activities have returned to pre-pandemic levels. Extruded polypropylene foam vendors are focusing on expanding their revenue generation potential to recover the losses that they incurred in 2020 owing to lockdowns across the world.

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Competitive Landscape

Top companies in the extruded polypropylene (XPP) foam market account for a notable market share; however, the market still has plenty of opportunities for new entrants as well.

Extruded polypropylene foam suppliers are expected to expand their business networks to meet the increasing demand for extruded PP foam across industry verticals.

Key Segments Covered in XPP Foam Industry Research

  • Extruded Polypropylene Foam Market by Type:

    • High Density XPP Foam
    • Low Density XPP Foam
  • Extruded Polypropylene Foam Market by End Use:

    • Automotive
    • Packaging
    • Building & Construction
  • Extruded Polypropylene Foam Market by Region:

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

- FAQs -

In 2022, the global extruded polypropylene (XPP) foam market stands at a value of US$ 903.8 million.
The global market for extruded polypropylene foam is estimated to reach US$ 1.75 billion by 2032.
From 2022 to 2032, the market for XPP foam is predicted to expand at a CAGR of 6.9%.
The North America extruded polypropylene foam market is valued at US$ 295.3 million in 2022 and is expected to expand at a CAGR of 8.2% across the forecast period.
Low density XPP foam is anticipated to dominate the market and account for 64.6% share by 2032.
Borealis AG, Mitsui Chemicals Tohcello Inc., BASF, Sekisui Voltek, Sonoco Products, DS Smith Plc, NMC SA, Pregis LLC, Zotefoams Plc, Sumitomo Chemical, and Furukawa Electric Co. Ltd. are key XPP foam manufacturers.

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