Rockville , July 05, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a market research and competitive intelligence provider, the global Expanded Polypropylene Foam Market size is valued at US$ 1.10 billion in 2023 and is projected to reach US$ 3.27 billion by 2033-end.
Expanded polypropylene (EPP) foam is a highly versatile and lightweight material with excellent energy absorption and cushioning properties. It finds widespread application across various industries, including automotive, packaging, electronics, and consumer goods. The expanded polypropylene foam market is witnessing significant growth due to the material's superior characteristics, such as excellent thermal insulation, high impact resistance, low water absorption, and exceptional chemical resistance, making it an ideal choice for numerous applications.
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EPP foam is extensively used in packaging applications due to its ability to protect delicate and fragile products during transportation. The growing e-commerce sector and increasing demand for efficient packaging solutions are fueling the growth of the expanded polypropylene foam market. EPP foam's versatility and cushioning properties have made it popular in the consumer goods industry. It is also widely used in sports and leisure products, toys, and electronics packaging, among others.
With increasing environmental concerns, there is a rising demand for sustainable materials in various industries. Expanded polypropylene foam, being recyclable and energy-efficient, aligns well with these sustainability goals.
Key Takeaways from Market Study
- Worldwide sales of expanded polypropylene foam are foreseen to increase at a CAGR of 11.5% from 2023 to 2033.
- Asia Pacific is witnessing high sales of EPP foam due to the rapidly developing automotive and consumer goods sectors in countries such as China, Japan, and India.
- Growing demand for electric and autonomous vehicles is expected to generate growth opportunities for expanded polypropylene foam producers.
- High-density expanded polypropylene foam is widely utilized in vehicle energy management systems, including bumpers, side rails, and safety parts.
“EPP foam manufacturers’ increasing focus on R&D activities to achieve improved impact resistance, flame retardancy, and thermal conductivity is driving market growth,” says a Fact.MR analyst.
Key Market Developments
- BASF broadened its Neopolen EPP foam product offerings by introducing Neopolen P 9235+ in March 2020. Among the latest additions, Neopolen P 9235+ is a product that boasts improved filling behavior during production, enhanced surface characteristics, and a 20% deeper color imprint.
- BASF SE also offers Basotect®, an EPP foam product known for its exceptional sound absorption properties. Basotect® is a flexible and flame-retardant foam that is used extensively in the automotive, construction, and industrial sectors.
- Sonoco Products Company offers innovative EPP foam products primarily used in construction and electronics applications.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global expanded polypropylene foam market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights on the market based on type (low density, medium density, high density) and application (automotive, packaging, consumer goods, oil & gas, construction, appliances), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Companies Profiled in Automotive Power Electronics Market Report
- Borealis AG
- Mitsui Chemicals Tohcello Inc.
- BASF
- Sekisui Voltek
- Sonoco Products
- DS Smith Plc
- NMC SA
- Pregis LLC
- Zotefoams Plc
- Sumitomo Chemical
- Furukawa Electric Co. Ltd.
- Toray Industries Inc.
- Braskem
- JSP Corporation
Explore More Related Studies Published by Fact.MR Research:
Foam Adhesive Market: The foam adhesive market is likely to capture a CAGR of 6.1% in coming Years.
Polypropylene Foams Market: Global sales of polypropylene foams are predicted to expand at a CAGR of 6% through 2030.
Automotive Expanded Polypropylene (EPP) Foam Market : The global market is valued at USD 478.61 million in 2023.
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