Expanded Polypropylene (EPP) Foam Market Size Worth USD 1.42 Billion by 2025 | CAGR: 4.5%
Published Date : July 2019 | Report Code: AV328 | Report Format: PDF
The global expanded polypropylene foam market is expected to grow at CAGR of 4.5% to reach USD 1.42 billion by 2025.
Expanded Polypropylene is a recyclable closed-cell bead foam which provides a unique range of properties, including thermal insulation, outstanding energy absorption, water and chemical resistance, high strength to weight ratio and recyclability. It provides an outstanding energy absorption characteristics, 100% non-toxic and can be recycled easily, and is lightweight and flexible. The EPP market is set to grow increasingly over the next few years owing to the growing applications of EPP would in turn further support the industry growth. This product is inherently versatile in its application; the product is a highly resourceful close-knit bead-like structure in foams which allows it to be used for a wide range of applications.
For example, this material is widely used in HVAC industry, pumps and motors for heat recovery units, housing heat exchangers, air filtration systems and boilers. White EPP is normally used for packaging products, whereas black EPP is preferred in automotive applications. Further, the ease of availability of the raw material makes it easy to source and manufacture therefore it does not affect the demand supply chain. On contrary, the manufacturing process for EPP is complex that requires both technical experts as well as specialized custom equipment. This would in turn pull back the industry growth in developing regions to some extent owing to the lack of expertise.
- EPP is available in different grades based on the technical requirements. High density grades are majorly used where energy management is necessity, such as interior passenger safety components or automotive bumpers.
- Low density products find applications in packaging industry, whereas medium densities mostly used in consumer products such as furniture industry.
- In terms of the highest growth rate, the medium density EPP will be the game changer. Owing to the increase in consumer goods such as that of electronics, various appliances, toys for kids are categories where people are spending more amount of money.
- In terms of applications, the industry is divided into packaging, automotive, and consumer goods. The largest end-use in terms of revenue generation is the automotive industry.
- The Asia Pacific is the market leader for this industry. This can be attributed to the fact that the Asia Pacific is one of the fastest growing segments for categories of consumer goods and packaging materials.
- Some of the key companies operating in this market are BASF Corporation, JSP Corporation, Clark Foam Products Corporation, DS Smith, Dongshin Industry, Inc., Hanwha Corporation, SSW Pearl Foam GmbH, Woodbridge Group, Sonoco Products Company, Paracoat Corporation, Kaneka Corporation, Haubach Corporation and Furukawa Electric Co.
- The market is fragmented, where the large number of companies competing each other and no-one has a significant industry share. It is noted that collaboration between manufacturers and fabricators will only improve the quality of the end products.
- For instance, in March 2017, Armacell International, global leader in flexible foam for the equipment insulation industry, acquired Danmat Iso Systems A/S. This acquisition helped Armacell to expand its presence in Scandinavian region.
KEY BENEFITS OF THE REPORT:
- The report presents a macro and micro-level outlook regarding the industry. Thus, it becomes easy for our clients to perceive the business landscape and take a glimpse of their own standing in it.
- A thorough analysis of relevant statistical data to estimate the market paradigms
- Exceptional understanding of region and country-specific markets. The report will answer some of the toughest questions regarding the market shares, sizes, forecasts, and growth specific to the countries.
- Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
- Low Density
- Medium Density
- High Density
MARKET, BY FOAM
- Molded EPP
- Fabricated EPP
MARKET, BY RAW MATERIALS
- Bio-based Polypropylene
- Synthetic Polypropylene
MARKET, BY APPLICATION
- Food Packaging
- Sports & Leisure
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
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