Expanded Polypropylene (EPP) Foam Market by Type (Low Density, High Density & Porous PP), Application (Automotive, Packaging, Consumer Products), and Region (North America, Europe, Asia-Pacific) - Global Forecast to 2025
“The EPP foam market is projected to register a CAGR of 5.3%, in terms of value, between 2020 and 2025.”
The EPP foam market is projected to grow from USD 1,253 Million in 2019 to USD 1,619 Million by 2024, at a CAGR of 5.3% between 2019 and 2024. Recyclable & reusable properties, optimum performance, and low weight of EPP foam are driving the market. However, the manufacturers are facing challenges with regard to volatility in raw material prices.
“The EPP foam market projected to witness the highest CAGR in Porous PP segment during the forecast period”
Porous PP foam’s shape helps to add air space, making these foams lightweight. These foams are good in impact protection, highly durable, have high structural integrity. They are mainly used in the automotive industry for noise and vibration reduction. Car interior is the major application of porous PP foams, which are mainly used in this application because of their characteristic of noise reduction.
“Automotive is estimated to have the largest share of the overall EPP foam market during the forecast period.”
Due to low cost, outstanding mechanical properties, and moldability, EPP foam is widely used in automotive parts. It helps in reducing vehicle weight up to 10%, allowing up to 7% fuel saving. It also helps in minimizing the release of VOCs from automotive interior parts. When EPP foam is additionally combined with metals, a greater amount of energy can be absorbed and distributed. These factors are supporting the trend of making eco-friendly vehicles.
“APAC is estimated to dominate the global EPP foam market.”
APAC accounted for a largest share of the global market, in terms of value, in 2019. The region is also projected to be the largest market between 2019 and 2024 due to China, India, and other booming economies in the region. It is projected to offer significant opportunities for vehicle manufacturers, and in turn, EPP foam manufacturers in the next five years.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the EPP foam market, and information was gathered from secondary research to determine and verify the market size of several segments and sub-segments.
Breakdown of Primary Interviews:
By Company Type: Tier 1 – 18%, Tier 2 – 27%, and Tier 3 – 55%
By Designation: C Level – 27%, D Level – 27%, and Others – 46%
By Region: APAC – 46%, North America – 18%, Europe – 18%, South America- 9%, and the Middle East & Africa – 9%
The key companies profiled in this report are JSP Corporation (Japan), Kaneka Corporation (Japan), Hanwha Chemical Corporation (South Korea), and BASF SE (Germany).
This report provides detailed segmentation of the EPP foam market based on resin type, application, and region. Based on type, the EPP foam market has been segmented into low density, high density, and porous PP. Based on application, the market has been segmented into automotive, packaging, consumer goods, and others. Based on region, the market has been segmented into APAC, Europe, North America, South America, and the Middle East & Africa.
Key Benefits of Buying the Report
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles. It discusses the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
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