Our comprehensive research on the Global Expanded Polypropylene Foam Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global expanded polypropylene foam market size was US$ 1,323.5 million in 2021. The global expanded polypropylene foam market size is forecast to reach US$ 1,990.0 million by 2030, growing at a compound annual growth rate (CAGR) of 5.3% during the forecast period from 2022 to 2030.
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Expanded polyethylene foam (also called EPE foam) is a kind of polyethylene foam. It’s usually formed from expanded pellets (‘EPE bead’) made with a blowing agent, then expanded into a mold in a steam chest, similar to how expanded polystyrene foam creates. Expanded polypropylene foams are semi-rigid, closed-cell foams with a stiffness/compliance that is midway between expanded polystyrene and polyurethane. Expanded polypropylene foams make in the same way as expanded polystyrene foams but start with PE beads. The density ranges from 29 to 120 kg/m3 (49 to 202 lb/cu yd), with the lower number being the most common.
Factors Influencing Market Growth
- The rising product penetration in applications, such as packaging, consumer goods, and furniture, is forecast to drive the global market during the forecast period.
- The price associated with the material may affect the overall product prices, thereby slowing down the overall market growth.
- The growing demand for bio-based polypropylene foam and its emergence as a substitute for other products are forecast to offer lucrative opportunities for the global market during the forecast period.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global expanded polypropylene foam market. Several governments imposed a lockdown in order to curb the spread of the deadly virus. As a result, the production of expanded polypropylene foam decreased, and the global supply chain was affected. In addition, this further reduced the demand for an expanded polypropylene foam market. Additionally, the end-user industries such as automotive, consumer goods, appliances, construction, and others had to shut down during the COVID-19 pandemic. It also declined the demand for expanded polypropylene foam. Thus, these factors affected the revenue of the expanded polypropylene foam market.
Regional Insights
The Asia Pacific region held dominant in the market in 2021. As a result of the improved product demand in key end-use verticals, such as consumer goods and packaging. The rapidly-rising automotive industry is forecast to fuel the market growth in the region.
Europe is forecast to have lucrative growth in the market during the forecast period. As a result of the expanding automobile industry and rapidly-growing consumer goods industry in major economies, such as Germany, France, Spain, and Russia. In addition, the existence of prominent automotive OEMs in the region is likely to maintain the growth of the automotive sector. Thus, these factors are forecast to drive market growth in the region.
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Leading Competitors
The leading prominent companies profiled in the global expanded polypropylene foam market are:
- BASF SE
- Hanwha Corporation
- Dongshin Industry, Inc.
- JSP Corporation
- Kaneka Corporation
- Furukawa Electric Co., Ltd.
- DS Smith plc
- Sonoco Products Company
- Clark Foam Products Corporation
- IZOBlok SA
- Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Expanded Polypropylene Foam industry experienced notable growth in its workforce. Starting in January, employment within the Expanded Polypropylene Foam sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Expanded Polypropylene Foam output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Expanded Polypropylene Foam output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Expanded Polypropylene Foam market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Expanded Polypropylene Foam market.
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Scope of the Report
The global expanded polypropylene foam market segmentation focuses on Type, Application, and Region.
Segmentation based on Type
- Low Density
- High Density
- Porous PP
Segmentation based on Application
- Automotive
- Packaging
- Consumer Products
- Others
Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Expanded Polypropylene Foam Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Expanded Polypropylene Foam Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Expanded Polypropylene Foam Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Expanded Polypropylene Foam Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Expanded Polypropylene Foam market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Expanded Polypropylene Foam market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Expanded Polypropylene Foam business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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