The ‘Global Expanded Polypropylene (EPP) Foam Market Share, Report and Forecast 2023-2028’ by Expert Market Research, gives an extensive outlook of the global expanded polypropylene (EPP) foam market, assessing on the basis of its segments like raw material, form, application, and major regions.
Expanded Polypropylene (EPP) Foam Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 1.02 billion
• Forecast CAGR (2023-2028): 5.9%
• Forecast Market Size (2027): USD 1.45 billion
There are several factors propelling the global expanded polypropylene (EPP) foam market. These include the fast development of consumer products, developing automotive sector, rising industrial investment, and rising environmental awareness. Additional factors are the rising need for lightweight and fuel-efficient cars, and rising demand for bio-based polypropylene foam.
Expanded Polypropylene (EPP) Foam Industry Definition and Major Segments
Expanded polypropylene (EPP) foam is created using polypropylene. Flexible bead foam made of expanded polypropylene (EPP) provides energy absorption, impact resistance, thermal insulation, chemical resistance, and 100% recyclable properties. Due to their flexibility and cushioning qualities, EPP foams are mostly used in industrial packaging as they offer excellent security for intricate designs.
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Based on raw material, the market is segmented into:
• Synthetic Polypropylene
• Bio-Based Polypropylene
Based on the forms of EPP foam, the market encompasses:
• Fabricated EPP
• Moulded EPP
Based on the application, the market is segmented into:
• Food Packaging
• Sports and Leisure
The major regional markets include:
• North America
• Latin America
• Middle East and Africa
Expanded Polypropylene (EPP) Foam Market Trends
Increased product use in industries including packaging, consumer products, and furniture is anticipated to support market expansion overall during the forecast period. The rising product application scope in several industries can be attributed to the remarkable qualities of EPP foam, such as durability, chemical and water resistance, thermal insulation, and recyclability. Additionally, the output of automobiles and consumer products has expanded due to increasing investments in manufacturing activities across major economies.
In the forecast period, the expanded polypropylene (EPP) foam market is anticipated to be driven by the increased demand from the packaging and consumer goods sectors for materials that are resistant to chemicals and water. The growing awareness of environmental issues and the rising demand for lightweight and fuel-efficient cars are the main factors projected to boost the growth of the EPP foam market.
The global EPP foam market is anticipated to expand further in the upcoming years due to the automotive industry’s rapid development as a result of the increase in production and demand for automobiles. Additionally, the anticipated expansion of the expanded polypropylene foam market would be aided by the increased demand for bio-based polypropylene foam and substitutes for EPS and EPE products by EPP.
Key Market Players
The major players in the global expanded polypropylene (EPP) foam market report include:
- BASF SE
- Engineered Foam Products
- KK Nag Pvt. Ltd
- Knauf Industries
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers, and acquisitions, among other latest developments of the major market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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