New York, April 27, 2023 (GLOBE NEWSWIRE) -- The Global Expanded Polypropylene Foam Market was valued at USD 1,186.6 million in 2022 and is projected to reach USD 2,581.9 million by 2032, with an estimated compound annual growth rate (CAGR) of 8.3% between 2023 and 2032. Several applications, including packaging, consumer goods, building & construction, and others, utilize products, which has helped in their expansion.
Expanded polypropylene (EPP) foam is frequently used in non-food packaging applications because it offers good impact protection for delicate products including circuit boards and electronic equipment. As consumers are more aware of their physical health, it is projected that more expanded polypropylene (EPP) foam will make its way into toys and sporting products. These elements are predicted to increase expanded polypropylene foam demand globally.
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Key Takeaway:
- By product, in 2022, the expanded Polypropylene foam Market was dominated by the high-density segment due to its increased usage.
- By application, the bumpers segment dominated the largest market share and accounted for the largest revenue share in the expanded Polypropylene foam market in 2022.
- By end-user, the automotive segment dominated the largest market share in end-user type analysis.
- In 2022, Asia Pacific dominated the market with the highest revenue share of 40%.
Factors affecting the growth of the Expanded Polypropylene Foam Market
There are several factors that can have an impact on the growth of the Expanded Polypropylene Foam Market. Some of these factors include:
- Technical developments: As new technologies are developed, manufacturers can produce EPP foam with enhanced characteristics including greater insulation, durability, and lightness, which may attract customers more.
- Environmental issues: There is a higher demand for eco-friendly goods as a result of growing environmental consciousness. EPP foam is a desirable substitute for other non-biodegradable materials because it is recyclable and reusable.
- Prices of raw materials: The cost of raw materials, such as polypropylene, required for producing EPP foam, can significantly impact the profitability of manufacturers.
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Top Trends in Expanded Polypropylene Market
Expanded polypropylene foam is being used more frequently in the medical sector for packaging and cushioning purposes. Expanded polypropylene is becoming an attractive material choice as device makers seek ways to protect sensitive instruments during transport. Companies looking to lessen their environmental impact and satisfy consumer demand for environmentally friendly goods are driving up demand for sustainable packaging solutions. Due to its lightweight and recyclable features, this material makes for ideal eco-friendly packaging solutions. EPP foam has become an increasingly popular material used for interior parts like seating and overhead compartments in aerospace products, particularly seating and overhead compartments. Aerospace product manufacturers appreciate its lightweight qualities due to their desire to lighten products and increase fuel efficiency.
Market Growth
Expanded polypropylene foam (EPP) is a lightweight, strong, and adaptable material used in a variety of products, including consumer goods, packaging, and automotive parts. The consistent demand for lightweight materials across a range of industries, including automotive, aerospace, and electronics, is anticipated to drive the growth of the global EPP market.
Regional Analysis
The expanded polypropylene foam market share in 2022 belonged to Asia Pacific, which accounted for more than 40.0% of the total revenue share. Due to their swift industrialization, and easy availability of resources like labor and raw materials, China, India, and Japan are seeing tremendous growth in the production of consumer products and electronics. These factors are predicted to increase demand for expanded polypropylene foam throughout the course of the projection period. North America's revenue share was 29.0% in 2022 as a result of growing end-user industries in the United States and Canada. Many scientific and technological advances brought about by the U.S. automotive industry's change in focus toward electricity-powered and fuel-efficient cars have increased customer demand for high-end electric vehicles. Chemically stable EPP foam is preferred instead of other choices because of the growing need for fuel-efficient automobiles and the expanding utilization of high-performance materials for auto components.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 1186.6 million |
| Market Size (2032) | USD 2581.9 million |
| CAGR (from 2023 to 2032) | 8.3% |
| Asia Pacific Revenue Share | 40.0% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Expanded polypropylene foam is widely used in the automotive sector for a variety of applications, including bumpers, door panels, and instrument panels, which is increasing demand. Because of its lightweight, toughness, and impact resistance, the material is a great choice for automakers trying to lighten automotive and improve fuel efficiency. Globally, it is projected that the need for expanded polypropylene foam in the automotive sector would rise.
Expanded polypropylene foam is being utilized more frequently in the packaging business, where it is used for protective packaging, insulation, and cushioning. The expansion of e-commerce and the increased need for environmentally friendly packaging solutions are driving the demand for expanded polypropylene foam in the packaging industry.
Market Restraints
Expanded Polypropylene Foam requires the use of polypropylene as a raw material, which can be costly and vulnerable to market volatility. This may make the producers less profitable and drive up the price of the end product. Other lightweight materials, such as the less expensive expanded polystyrene (EPS) foam, compete with expanded polypropylene foam. Additionally, expanded polypropylene foam may someday be replaced by new materials and technologies that are always being researched. EPP foam is extensively used in certain places, although it could be less well-recognized or harder to come by in other places. This could have an effect on how easily it spreads and is adopted there. Expanded polypropylene foam can be recycled, but it might be hard and require special equipment. This may lead to much less recycled EPP foam being used, which would reduce the material's overall sustainability grade.
Market Opportunities
The demand for expanded polypropylene foam is anticipated to be driven by the developing packaging and automotive sectors in various countries. Expanded polypropylene foam has a lot of potential for new applications, especially in the building industry for functions like insulation and cushioning. Toys and sporting goods may be made with expanded polypropylene foam, which has huge growth potential. Expanded polypropylene foam production should become more efficient because of advances in technology and manufacturing methods. Expanded polypropylene foam might thus become more accessible and useful in a variety of applications.
Due to the growing need for lightweight, environmentally friendly materials in a range of industries, expanded polypropylene foam is well-positioned to increase its market share. Its particular properties, including durability, flexibility, and impact resistance, will make it a tempting solution for manufacturers looking to cut weight and boost sustainability. As expanded polypropylene foam is often used in the production of electric car batteries, demand for the material is expected to increase as the market for electric vehicles grows. Expanded polypropylene foam demand will rise in tandem with the growth of the electric car market.
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Report Segmentation of the Expanded Polypropylene Foam Market
Product Insight
Expanded polypropylene foam is divided into High Density, Low Density, and Medium Density markets based on product. In 2022, the high-density segment led the market and accounted for about 42.0% of the total market share. Energy management solutions for vehicle safety components, such as bumpers and side skirts, utilize high-density expanded polypropylene foams. They are often used in industrial packaging applications because of their resistance to impacts. Due to the increased popularity of lightweight and high-end products, there was likely an increase in demand for high-density expanded polypropylene (EPP) foam during the course of the forecast period.
Application Insight
The market for expanded polypropylene foam is segmented into Bumpers, Roof Pillars, Seat Bracing, Armrests, and Other Uses based on the use. The bumpers application segment led the market and represented more than 42.0% of the overall market share in 2022 as a result of the expanding use of expanded polypropylene foam in cars. The market is anticipated to expand due to the growing need for high-impact resistant packaging alternatives for car interior and exterior components. To safeguard customers from accidents, the automotive industry uses EPP foam bumpers in car interiors. They also act as bumper reinforcements and crash absorbers on the outside of cars. Expanded polypropylene foam bumpers are preferred over other materials because of their ability to absorb high-impact energy without distorting or shattering.
End-User Insight
Expanded polypropylene foam is segmented into the Automotive, Packaging, Consumer Goods, Appliances, Oil & Gas, and Other End-Users end-user markets based on end-users. Because of its low cost, superior mechanical properties, and moldability, EPP foam is extensively utilized in automotive parts. It assists in reducing the load on the car by up to 10%, saving up to 7% on gasoline. Also, it aids in reducing VOC emissions from car interior parts. When metals are added to EPP foam, more energy may be absorbed and diffused. These factors are promoting the creation of environmentally friendly vehicles.
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Market Segmentation
Based on Product
- High Density
- Low Density
- Medium Density
Based on Application
- Bumpers
- Roof Pillars
- Seat Bracing
- Armrests
- Other Applications
Based on End-User
- Automotive
- Packaging
- Consumer goods
- Appliances
- Oil & Gas
- Other End-Users
By Geography
- North America
-
- The US
- Canada
- Mexico
- Western Europe
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
The Expanded Polypropylene Foam market is a rapidly growing market. The market is highly competitive, with a few key players dominating the market. Some of the major players include:
- JSP
- BASF SE
- Kaneka Corporation
- DS Smith
- Furukawa Electric Co., Ltd.
- Hanwha Group
- Sonoco Products
- Knauf Industries
- Izoblok
- Dongshin Industry Incorporated
- Clark Foam Products Corporation
- Paracoat Products Ltd.
- Molan-Pino South Africa
- Signode Industrial Group LLC
- Armacel
- Furukawa Electric Co., Ltd.
Recent Development of the Expanded Polypropylene Foam Market
- In August 2020, JSP's ARPRO extended polypropylene (EPP) brand is anticipated to complete a full cycle. 25% of the material in JSP's new ARPRO 5134 RE product line is recycled and made from recovered EPP.
- The Neopolen expanded polypropylene foam (EPP) product line was expanded by BASF in March 2020. Neopolen P 9235+, the brand-new product from the company, offers better-filling behavior during production, improved surface characteristics, and a 20% deeper color impression.
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