Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "EPP Foam Market by Type (Low-Density, High-Density & Porous PP), Application (Automotive, Packaging, Consumer Products), and Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global EPP foam market is projected to grow from USD 1.4 billion in 2023 to USD 1.8 billion by 2028, at a CAGR of 5.7% from 2023 to 2028
The report defines, segments, and projects the EPP foam market based on type, application, and region. It provides detailed information regarding the major factors influencing the market's growth, such as drivers, restraints, opportunities, and industry-specific challenges.
It strategically profiles key EPP foam solution providers and comprehensively analyses their market shares and core competencies, as well as tracks and analyzes competitive developments, such as expansions, investment, new product launch, collaboration, agreement, merger, and acquisitions undertaken by them in the market.
Due to its adaptable qualities, EPP foam has recently seen an unparalleled increase in demand on a global scale, playing a crucial role in a variety of industries. Applications where innovation, sustainability, and high performance are required has created demand of EPP foam, a lightweight, resilient material that is also environmentally friendly.
The porous PP, by type segment, is projected to grow at the highest CAGR from 2023 to 2028.
To capture dust, pollen, and other airborne particles, porous PP is utilised in car air filters. By removing allergens and pollutants from the cabin air before they can enter the car's interior, cabin air filters constructed of porous PP can help enhance air quality. Lithium-ion batteries in electric and hybrid cars use porous PP as a separator material. It is essential for preventing short-circuits between the positive and negative electrodes of the battery while permitting ion passage.
Automotive, in by application segment, is projected to grow at the highest CAGR from 2023 to 2028.
EPP foam has commercial opportunities as the market for electric and autonomous vehicles (AVs) expands. Both EVs and AVs require lightweight components to increase range and sophisticated safety measures, which are advantages of EPP foam. The potential of EPP foam to enhance the supply chain by reducing part damage during transit and assembly aids in streamlining production procedures and lowering costs. To improve comfort and aesthetics, EPP foam is used in a variety of interior components, including armrests, door panels, and console inserts.
Asia Pacific EPP foam market is projected to grow at the highest CAGR from 2023 to 2028.
Asia Pacific is expected to be the fastest-growing market for EPP foam market during the forecast period. Materials like EPP foam that can improve vehicle safety by absorbing impact energy are more necessary as safety regulations in the automobile industry get stringent. Technology improvements in the production of EPP foam have increased its affordability and adaptability. This has promoted its application across a range of industries in Asia Pacific. EPP foam demand is rising as a result of the diverse industrial landscape, rapid economic development, and rising consumer demands in the Asia Pacific region.
Competitive landscape
The EPP foam market report is dominated by players such as BASF SE (Germany), JSP Corporation (Japan), Hanwha Advanced Materials (South Korea), BEWI (Norway), Sonoco Products Company (US), Engineered Foam Products (UK), Kaneka Corporation (Japan), Furukawa Electric Co., Ltd. (Japan), Chemische Fabrik Budenheim KG (Germany), and Yanfeng Woodbridge Lightweight Composites Co., Ltd. (China)
Reasons to Buy the Report:
- The report is expected to help the market leaders/new entrants by providing them with the closest approximations of revenue numbers of the EPP foam market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the market's competitive landscape, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
- The report provides insights on the following pointers: Analysis of critical drivers EPP Foam's versatility in the automotive industry), restraints (High initial costs related to manufacturing), opportunities (Technological advancement in EPP foam manufacturing) and challenges (Raw material availability and price fluctuations) influencing the growth of the EPP foam market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the EPP foam market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the EPP foam market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the EPP foam market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like BASF SE (Germany), JSP Corporation (Japan), Hanwha Advanced Materials (South Korea), BEWI (Norway), Sonoco Products Company (US), among others in the EPP foam market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 206 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.27 Billion |
| Forecasted Market Value (USD) by 2028 | $1.8 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Companies Mentioned
- Automa Multi Styrene (Pty) Ltd.
- Basf Se
- Bewi
- Borealis AG
- Chemische Fabrik Budenheim Kg
- Clark Foam Products Corporation
- Dongshin Industry Inc.
- Engineered Foam Products
- Foamtech
- Furukawa Electric Co. Ltd.
- Hanwha Advanced Materials
- Jsp Corporation
- K. K. Nag Private Limited
- Kaneka Corporation
- Knauf Industries
- Lotte Chemical Corporation
- Molan-Pino South Africa (Pty) Ltd.
- Paracoat Products Ltd.
- Plymouth Foam
- Polyfoam Australia Pty Ltd.
- Schaumaplast GmbH & Co. Kg
- Signode Industrial Group LLC
- Sonoco Products Company
- Wuxi Hi-Tec Environmental Material Co. Ltd (Htec)
- Yanfeng Woodbridge Lightweight Composites Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/jg5iug
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