The expanded polypropylene (EPP) foam market is anticipated to flourish at a steady CAGR of 11.4% between 2023 and 2033. The market is expected to hold a market share of USD 5.52 billion by 2033, while the market is likely to reach a value of USD 1.87 billion in 2023.
| Attributes | Details |
|---|---|
| Expanded Polypropylene (EPP) Foam Market CAGR (2023 to 2033) | 11.4% |
| Expanded Polypropylene (EPP) Foam Market Size (2023) | USD 1.87 billion |
| Expanded Polypropylene (EPP) Foam Market Size (2033) | USD 5.52 billion |
It is anticipated that expanded polypropylene (EPP) foam is gaining wide adoption in the market, and it is witnessed that increasing product penetration in applications such as consumer goods, packaging, and furniture is likely to have a significant impact on the market expansion for this product.
The analysts at FMI have revealed that the increased scope of product application, like the expanded polypropylene (EPP) foam sheets in a diverse range of industries, can be attributed to the superior qualities of expanded polypropylene (EPP) foam. These EPP foam properties are chemical and water resistance, durability, thermal insulation, and recyclability.
Moreover, the manufacturers of expanded polypropylene (EPP) foam are increasingly making investments across leading economies, which has raised consumer and automobile goods production. Therefore, it is anticipated that the expanded polypropylene (EPP) foam market is likely to have substantial growth over the forecast period.
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As per the statistics identified by FMI, the sales of expanded polypropylene (EPP) foam have recorded a CAGR of 6.3% in the base year. The forum has witnessed a substantial rise in the adoption of expanded polypropylene (EPP) foam in the past few years.
The market has been gaining impetus due to the growing requirement for energy management materials or shock absorbers for door panels, seats, bumpers, roof liners, and other necessary parts required for manufacturing automotive. The gradual rise in market share of expanded polypropylene (EPP) foam in the past few years has risen as end-use industries are looking for efficient economic solutions that lower carbon emissions and minimize waste generation. This, in turn, helps the industries save the cost of waste treatment and disposal.
The rapid surge in the production of automobiles and consumer goods warrants an increase in demand for expanded polypropylene (EPP) foam products. Expanded polypropylene (EPP) foam is highly used for protective applications in electronics and other items and is anticipated to unlock robust commercial potential in the upcoming years.
It has been identified that expanded polypropylene (EPP) foam helps to save the foam up to 7%, and it reduces the weight of the vehicles, improving the body balance and aerodynamics of the automotive, which is why manufacturers in the automotive industry are inclining more toward the usage of EPP in large scale.
Furthermore, expanded polypropylene (EPP) is helping in mitigating the release of VOC emissions from vehicles and spare parts, thereby establishing momentum with the growing trend of adopting eco-friendly vehicles, coupled with compatibility and usefulness.
Principal Consultant
The experts at Future Market Insights have analyzed the market and identified that several aspects fuel the market growth of expanded polypropylene (EPP) foam. They are:
Although expanded polypropylene (EPP) foams have a wide application in the electronics, packaging, and construction sectors, it is anticipated that certain factors are likely to curb the expansion of the expanded polypropylene (EPP) foam market and pose a threat to the growth of expanded polypropylene (EPP) foam. They are:
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| Countries | Revenue Share % (2022) |
|---|---|
| United States | 16.7% |
| Germany | 13.1% |
| Japan | 7.6% |
| Australia | 4.3% |
| Countries | CAGR % (2023 to 2033) |
|---|---|
| China | 12.3% |
| India | 13.1% |
| United Kingdom | 6.7% |
| Region | Asia Pacific |
|---|---|
| Dominating Country | Japan |
| Responsible Factors | The Asia Pacific is projected to dominate the overall market due to rising product demand in key end-use verticals. Revenue share of APAC region in 2022– 52% It is anticipated that the growth of the following sectors in Japan is fueling the market size of the expanded polypropylene (EPP) foam market in Japan:
|
| Region | North America |
|---|---|
| Dominating Country | United States |
| Responsible Factors | The growing use of protective and flexible packaging solutions across the end-use verticals in North America is growing the market size for EPP foams in this region. There is an increasing importance of custom packaging solutions in the United States for the following:
|
| Region | Europe |
|---|---|
| Dominating Country | Germany |
| Responsible Factors | In amalgamation with the North American market, it is projected that Europe is accountable for 35% of the total market share for expanded polypropylene (EPP) foam. Germany has lucrative growth opportunities owing to the recovery of the automobile industry and the country's rapidly emerging consumer goods industry. The consumer product segment majorly uses EPP foam for the following:
|
| Category | By Grade Type |
|---|---|
| Leading Segment | High Density |
| Market Share (2022) | 50.0% |
| Category | By Application |
|---|---|
| Leading Segment | Automotive |
| Market Share (2022) | 40.0% |
High-density Product Segment - By Product Type
The high-density product segment accounted for the highest revenue share in recent years. It has been projected that this held more than 50% revenue share in 2022 and is likely to have the fastest CAGR during the period 2023 to 2033.
It is anticipated by the analysts of FMI that high-density expanded polypropylene (EPP) foam is likely to gain 1.6X growth with a current market share of more than 53%.
The medium-density product segment is expected to register the second-fastest growth rate owing to the increasing use of the product in consumer goods like toys, appliances, and more. It is projected that medium-density EPP foam may grow at a dexterous growth rate of more than 6.5 % throughout the forecast period.
Automotive Industry - By Application
It was identified during analyzing the expanded polypropylene (EPP) foam market that the automotive industry accounted for the largest revenue share during the base year. This segment alone represented over 40.0% of the total revenue in 2022.
The automotive industry uses a significant amount of EPP foam on the floor, door panels, seats, and bumpers for acoustic management, thermal insulation, and impact absorption. The growing importance of reducing overall vehicle weight to improve fuel economy is expected to drive the product demand in the automotive segment over the forecast period.
Furthermore, the rising use of noise reduction and vehicle interiors is expected to witness high growth in developing countries and is therefore bolstering the demand for EPP In the global market.
New Entrants and Their Contribution is Stoking Up the Expanded Polypropylene (EPP) Foam Market
The start-ups in the expanded polypropylene (EPP) foam are making continuous efforts to cost-effective and more durable EPP foam for packaging purposes and to meet the needs of the end-use industries. They are indulging in collaborations and making investments in research and development activities to further boost the demand for expanded polypropylene (EPP) foam.
Top Start-ups and Their Take on the EPP Market
Zhejiang Shuntai - This start-up specializes in producing and selling foaming agents. This firm processes and improvises X125 and mainly utilizes it for foaming PVC materials, and it can also be used for foaming different plastics and rubbers. The start-up revealed that it is more effective with AC foaming agents and can make the product cells more uniform.
Sulzer and Borealis - Sulzer has developed an extrusion process that enables industrial expanded polypropylene (EPP) foam molders to launch their own EPP production by developing their proprietary formulations and Borealis PP resin as raw material. The specialty of their products is a high toughness, good thermal insulation properties, high-temperature resistance, high moisture- and chemical resistance, adjustable bulk density from 25 g/l to 150 g/l, and bead sizes in the range of 3 to 5mm.
How are Key Market Players Maneuvering the Expanded Polypropylene (EPP) Foam Market?
The key market players in the expanded polypropylene (EPP) foam market are assessing better solutions in the supply chain, which can maintain business continuity without disruption. Moreover, key players are planning to implement an innovative value chain to continue their production without interruption in the face of the challenging scenarios of high costs and government regulations.
Recent Developments
The expanded polypropylene (EPP) foam market holds a valuation of USD 1.87 billion in 2023.
The projected value of the expanded polypropylene (EPP) foam market is estimated to attain USD 5.52 billion by 2033.
The expanded polypropylene (EPP) foam market is anticipated to register a CAGR of 11.4% through 2033.
India holds high lucrativeness for expanded polypropylene (EPP) foams.
The expanded polypropylene (EPP) foam market exhibited a CAGR of 6.3% between 2018 and 2022.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Grade Type 5.1. Low Density 5.2. High Density 5.3. Porous PP 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Automotive 6.2. Industrial Packaging 6.3. Consumer Products 6.4. Building & Construction 6.5. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Furukawa Electric Co., Ltd 17.2. Knauf Industries 17.3. Dongshin Industry Inc. 17.4. Kaneka Corporation 17.5. JSP Corporation 17.6. BASF SE 17.7. SSW Pearl Foam GmbH 17.8. Sonoco Products Company 17.9. Clark Foam 17.10. Bradford Company 18. Assumptions & Acronyms Used 19. Research Methodology
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Expanded Polypropylene (EPP) Foam Market
