Global Extruded Polypropylene (XPP) Foam Market 2017-2021
About Extruded Polypropylene (XPP) Foam
Extruded polypropylene (XPP) foam is a versatile thermoplastic material, which is compatible with many processing techniques and is used in a wide range of commercial applications. It is resistant to many chemicals and thermals, making it suitable for outdoor use. The unique feature of XPP is its low density and high moisture and oxygen barrier. It is also sealable, microwavable, and fully recyclable. It consumes the least amount of energy during production. Compared with other plastics, it produces the lowest amount of carbon dioxide emissions. It possesses lower density, which means switching to polypropylene (PP) reduces the absolute amount of waste. It produces less solid waste than polyvinyl chloride (PVC), polystyrene (PS), and polyethylene terephthalate (PET).
Technavio’s analysts forecast the global extruded polypropylene (XPP) foam market to grow at a CAGR of 7.00% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global extruded polypropylene (XPP) foam market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of extruded polypropylene (XPP) foam.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Extruded Polypropylene (XPP) Foam Market 2017-2021
Technavio recognizes the following companies as the key players in the global extruded polypropylene (XPP) foam market: BASF, Borealis, Braskem, Mitsui Chemicals, and Toray Industries
Other Prominent Vendors in the market are: DS Smith PLC, JSP Corporation, and NMC SA.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing demand of XPP foam from building and construction segment. XPP foam is used widely in building and construction activities. It is used in interior works such as window profiles. It is also used in wood-plastic composites for walls and roofs. The material is used as reinforcement in cement composites and in applications such as runway and road repairs. XPP foam is used in the construction of theaters and auditoriums where high sound insulation is required. It is also used in the construction of earthquake-resistant buildings because of its high-shock resistance.”
According to the report, one of the major drivers for this market is Increasing use of XPP in automobiles for weight reduction. Vehicle weight reduction has become the most challenging requirement that automotive manufacturers and suppliers face. XPP foam is widely used in automobiles because of its weight reduction and cost-savings properties. It is extensively used for replacing engineering plastics in automotive parts. It is also used in a variety of parts such as bumper fascias, instrumental panels, and door trims. Moreover, the new emission regulations that are adopted globally are anticipated to place a significant importance on lightweight materials used in major automotive parts.
Further, the report states that one of the major factors hindering the growth of this market is Price fluctuation of PP a major concern for manufacturers. The prices of the raw material used for manufacturing XPP foam usually fluctuate, which directly affects the overall price of the compound. This will restrain the growth of the global XPP during the forecast period. The fluctuating prices of crude oil and natural gas have an impact on the prices of their end products such as propylene, which is the raw material used to produce XPP foam. The volatility in the price results in uncertain returns on investments, pushing companies to delay or shelve their capacity expansion. This, in turn, will affect the demand-supply chain, resulting in customers switching to XPP alternatives such as PVC and PET.
BASF, Borealis, Braskem, Mitsui Chemicals, Toray Industries, DS Smith PLC, JSP Corporation, and NMC SA.