Extruded Polypropylene (XPP) Foam Market Is Expected To Witness Increased Growth Rates Of Revenue And CAGR Forecast 2025|Grand View Research, Inc.
The global extruded
polypropylene (XPP) foam market is expected to reach USD 1.07 billion by 2025, according to
a new report by Grand View Research, Inc. The growing demand for extruded
polypropylene foam in automobiles and packaging industry is expected to boost
market growth.
The demand for extruded polypropylene
foam is high due to its high strength to weight ratio and durability. Extruded
polypropylene foam is available in low-density and high-density foam types. The
market share of low-density foam is high due to its growing demand in the
automobile industry. The demand for high-density foam is expected to grow
rapidly over the forecast period owing to rising application in the
construction industry.
Asia Pacific and Europe are the major
regional markets. The presence of a large number of manufacturing facilities
coupled with growing end-use industries is driving the demand for extruded
polypropylene foam in these regions. The growing demand in emerging countries
such as China, India, and Romania is expected to boost the market growth over
the forecast period.
The major industry participants are BASF SE, DS Smith PLC, Borealis AG, Mitsui
Chemicals, Inc, JSP Corporation, Sekisui Voltek, LLC, Pregis LLC, NMC SA, Toray
Industries, Inc., Braskem, and W.R Grace.
Browse Research
Report On extruded polypropylene (XPP) foam Market:
Further key findings from the report suggest:
·
High density XPP foam is
projected to grow at a CAGR of 7.7% from 2017 to 2025 owing to increased demand
from packaging and building & construction industry
·
Transportation application
segment is anticipated to grow at a CAGR of 7.1% from 2017 to 2025 owing to
rising research on automotive materials
·
Building & Construction
application segment is anticipated to grow at a CAGR of 6.4% from 2017 to 2025
owing to growing infrastructure investments in emerging economies
·
Asia Pacific accounted for 52%
of the global market share in 2016 owing to rapid expansion by manufacturers in
countries such as China and India
·
Central & South America
extruded polypropylene foam market is expected to grow from USD 28.8 million in
2016 to USD 49.8 million in 2025 owing to growing demand in Brazil
·
The market is highly fragmented
with the presence of a large number of small and large manufacturers
·
Manufacturers are highly
engaged introduction of better quality products that are well suited to the
end-use application.
The
demand for extruded polypropylene foam is expected to grow rapidly owing to
rising demand from automobile manufacturing industries that are adopting new
technologies aimed at weight reduction of automobiles. The new emission
regulations being adopted globally is expected to place an extra importance on
lightweight materials used in major automotive parts. The rising awareness regarding
light weight vehicles and enhanced fuel efficiency is expected to boost the
consumption of these products.
Germany
is well-known for its rapid innovation in the engineering and automotive
industry. The growing demand for the automobiles is expected to boost the
consumption of these products. The growing consumer awareness regarding
eco-friendly packaging of FMCG products is expected to have a positive impact
on market demand. The presence of manufacturers such as BASF and PearlFoam GmbH
is expected to have a positive impact on market growth over the forecast period.
Browse Press
Release of this report:
The
product segments in the market comprise low-density polypropylene foam and
high-density polypropylene foam. Low-density foam is structured, non-reactive,
and tough to chemicals and exhibits high-temperature resistance. This foam is
majorly used in building and construction, automotive and other end-use
industries. The use of low-density foam in the automotive industry is expected
to grow rapidly on account of growing demand in the manufacturing of engine
sheds, door liners, roof trunk liner for impact protection.
High
density extruded polypropylene foam has higher compressive strength and energy
absorption characteristics when compared to low-density XPP foam. High-density
XPP foam is used in packaging industry because of its ability to protect
products from any kind of impact. The demand for this product in the automobile
industry is driven by properties such as lightweight, energy management,
durability, recyclability and high functionality.
Grand View Research has segmented the
extruded polypropylene foam market on the basis of product, application:
Product Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
·
Low density XPP foam
·
High density XPP foam
Application Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Transportation
·
Packaging
·
Building & Construction
·
Others
The
global extruded polypropylene foam market is highly competitive with the
presence of many multinationals and small manufacturers operating their
businesses through high production volumes. The companies in the extruded
polypropylene foam market are highly integrated from the production of extruded
polypropylene foam to the sales and distribution of the products to various
locations. The major industry participants are BASF SE, DS Smith PLC, Borealis AG,
Mitsui Chemicals, Inc, JSP Corporation, Sekisui Voltek, LLC, Pregis LLC, NMC
SA, Toray Industries, Inc., Braskem, and W.R Grace.
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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