Expanded Polypropylene Foam Market Industry Analysis by Manufacturers, Application, Regions and Forecast to 2030
Over the course of the forecast period, the demand for Expanded Polypropylene Foam is expected to rise due to the automotive sector's rapid growth.
Forecast Increase in Revenue:
The Expanded Polypropylene Foam Market was valued at USD 1125 Million in 2023, and it is expected to reach USD 1725.40 Million by 2030, exhibiting a CAGR of 6.3 % during the forecast period (2024-2030)
Expanded Polypropylene Foam Market Overview:
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Expanded Polypropylene Foam Market Scope and Methodology:
This study gives an exhaustive evaluation of the Expanded Polypropylene Foam Market, geared toward uncovering critical insights for strategic selection-making. The file thoroughly examines market traits, dynamics, and key highlights to help customers become aware of opportunities and expand effective Expanded Polypropylene Foam Market strategies. By utilizing each number one and secondary data assets, qualitative and quantitative records are carefully amassed and analyzed. Initial consultations with enterprise specialists unveil sizable findings, supplemented through additional resources together with press releases, white papers, and monetary reports. The report elucidates elements impacting the Expanded Polypropylene Foam Market place, such as drivers, limitations, and constraints, in addition to possibilities ripe for exploration.
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Expanded Polypropylene Foam Market Segmentation:
The Polypropylene Foam Industry Has Grown Low-density EPP foam segment held the largest market share in 2023 based on product type, and it is projected to grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2030. Due to the growing use of light-weight, non-toxic foam in packaging applications, the low-density expanded polypropylene foam market is anticipated to grow significantly over the projected period.
Increased Market for Polypropylene Foam According to End-Use Industry, the automotive sector accounted for 42.68% of the total volume of the expanded polypropylene foam industry in 2023 and was the leading end use segment for EPP foam. The development of expanded polypropylene (EPP) foam, which is used in packaging, goes through several stages in order to meet end-user requirements and regulatory guidelines.
Conclusion:
The Expanded Polypropylene Foam (EPP) market, valued at USD 1,125 million in 2023, is projected to reach USD 1,725.40 million by 2030, growing at a robust CAGR of 6.3%. The automotive sector remains the largest end-user, driving demand for EPP due to its superior mechanical and chemical properties. The Asia Pacific region leads the market, accounting for over 56% of global demand, bolstered by high production activities in automotive and consumer goods. Despite some challenges such as fluctuating raw material prices, the market is set to benefit from increased usage in packaging and automotive components, alongside ongoing innovations by major players like JSP Corporation and BASF SE. Overall, the EPP market is poised for significant growth, supported by expanding applications and regional demand trends.
Expanded Polypropylene Foam Market Key Players:
North America:
1. Sonoco Products Company (U.S.)
2. Clark Foam Products Corp. (U.S.)
3. SP Corporation (U.S.)
4. Package Design & Manufacturing Inc. (U.S.)
5. Woodbridge Group (Canada)
6. JSP Corp. (Japan)
7. Kaneka Corp. (Japan)
8. Furukawa Electric Co., Ltd. (Japan)
9. Hanwha Corp. (South Korea)
10. Polyfoam Australia Pty Ltd (Australia)
11. BASF SE (Germany)
12. DS Smiths plc (UK)
13. Knauf Industries (France)
14. IZOBLOK (Poland)
15. Armacell International S.A. (Switzerland)
16. Chemische Fabrik Budenheim KG (Germany)
17. Automa Multi Styrene (Pty) Ltd (South Africa)
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Expanded Polypropylene Foam Market Regional Insights:
The Expanded Polypropylene Foam Market place is segmented across several regions, along with North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. This local evaluation offers an in-depth exploration of key elements which include market size, boom rates, and import-export dynamics within each location. The Regional Analysis phase of the report offers distinct insights into the reputation of the Expanded Polypropylene Foam Market across various international locations, highlighting particular tendencies, regulatory landscapes, and competitive dynamics precise to each geographical vicinity.
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