A recent report published by
Infinium Global Research on expanded polypropylene foam market provides
in-depth analysis of segments and sub-segments in the global as well as
regional expanded polypropylene foam market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
expanded polypropylene foam market over the short term as well as long term.
The report is a comprehensive presentation of trends, forecasts, and dollar
values of global expanded polypropylene foam market. According to the report,
the global expanded polypropylene foam market is projected to grow at a CAGR of
5.13% over the forecast period of 2020-2026.
Extended polypropylene foam is a
profoundly versatile material that has exceptional properties, including
extraordinary energy retention, multiple impact resistance, thermal insulation,
buoyancy, water and chemical resistance, uncommonly high solidarity to weight
proportion, and 100% recyclability. EPP can be made in a wide scope of
densities, from 15 to 200 grams for every liter, altered by molding into
densities ranging from 18 to 260 grams per liter. EPP is accessible in grades
vital for a wide range of uses. High-density grades are used in automotive
bumpers and interior passenger safety components as energy management are vital
in the sector. Medium densities find applications in furniture and other
consumer products and low-density grades are used for packaging applications. Among
the global producers, JSP is the world's leading manufacturer of Expanded
Polypropylene plastic foam. Among the worldwide makers, JSP is the world's
leading producer of Expanded Polypropylene plastic foam.
The growing automotive market is
the major driving factor for the growth of the Extended Polypropylene (EPP)
foam. The automotive industry is one of the largest consumers of expanded
polypropylene foams. It is commonly used in automotive parts and owing to its
low cost, excellent mechanical properties, and moldability which helps to
reduce vehicle weight and saves fuel. In addition, increasing production of the
electric cars is promoting the expanded polypropylene foam market’s growth, as
expanded polypropylene plays a noteworthy role in making electric cars
lightweight and thermally insulated and enhancing energy absorption
capabilities. Furthermore, the reusability of the EPP has contributed to the
rising preference of the material in the furniture, consumer goods, and
construction industries. As recyclability and reusability are becoming a major
consideration factor in the overall manufacturing sector and as this trend is
expected to continue over the years to come, the market for Extended
Polypropylene (EPP) foam will witness an upsurge in the upcoming years.
However, the high cost of the material, as well as the availability of other
substitutes, will considerably affect the growth of the extended polypropylene
foam market. Moreover, the growing application of extended polypropylene foam
in an extensive range of industries such as packaging, aerospace, and other
industries will create fruitful opportunities for the growth of the market.
Among the geographies, the Asia Pacific region
is expected to witness significant growth in the global expanded polypropylene
foam market owing to increased product demand in key end-use verticals such as
consumer goods and packaging. North America is the second-largest market for
expanded polypropylene foam due to developments in the automobile and packaging
sectors. Recent developments in the automobile and packaging sectors in North
America are expected to drive the demand for the EPP foam in application
segments. The consumption of the EPP foam is also high in the European region
owing to its applications in automotive components, consumer products, and
buildings and construction work. The presence of key automotive OEMs in the
Europe region is anticipated to strengthen automotive growth, thereby also
driving EPP foam demand.
The report on global expanded
polypropylene foam market covers segments such as type, and application. On the
basis of type, the sub-markets include low density. On the basis of
application, the sub-markets include automotive, and others.
The report provides profiles of
the companies in the market such as JSP Corporation, DS Smith plc, Furukawa
Electric Co., Ltd., Hanwha Corporation, Sonoco Products Company, IZOBLOK,
Dongshin Industry, Inc., and Clark Foam Products Corporation.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of expanded polypropylene foam market. Moreover, the study highlights
current market trends and provides forecast from 2020-2026. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
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