“The Global Polypropylene (PP) Board Market size was valued at US$ 1.2 billion in 2023 and is likely to grow at a healthy CAGR of 3.6% in the long run to reach US$ 1.6 billion in 2030.”
Market Dynamics
Introduction
The PP Board Market comprises bubble sheets, honeycomb, and corrugated sheets. Bubble Sheets feature a unique internal structure consisting of bubble-like cells. This structure improves the strength and its resistance to bending while at the same time, the air pockets within the bubble structure provide excellent thermal insulation, helping to maintain temperature stability.
PP honeycomb has a honeycomb core, made from PP. These honeycomb panels are highly efficient in terms of weight-to-strength ratio. The core has a honeycomb structure for the panel, the arrangement of hexagonal cells in the core forms this geometry as it helps to distribute weight and stress in the panel evenly.
A corrugated sheet is the twin-extrude configuration of a corrugated cross-section joined by vertical ribs. PP, a versatile type of plastic characterized by its lightweight and moderate strength, can be found in primary industries such as construction, packaging, automotive, healthcare, food service, electronics, and aerospace. These boards can be manufactured in various sizes, thicknesses, and configurations to meet different application needs.
Market Drivers
PP boards are extensively adopted across various industries, including automotive, construction, packaging, renewable energy, and other industries due to their lightweight, and enhanced strength and rigidity. The unique structure provides additional strength and rigidity to the panel. PP boards combine lightweight construction with enhanced strength and rigidity, making them a versatile and cost-effective solution for a wide range of industrial and commercial applications.
PP boards are also widely used to create reusable shipping containers, pallets, and other logistics solutions. In the foreseeable period, their applications are anticipated to grow significantly in renewable energy (solar panels and wind turbines). Additionally, PP is recyclable; hence, PP boards are environmentally friendly as compared to other materials. Their durability allows them to endure repeated use, while their lightweight nature helps lower shipping costs, all these factors are driving the market's growth.
Recent Market JVs and Acquisitions
- In March 2023, Karton S.p.A., acquired Spanish company CIPASI, reaffirming its position as a leading player in the sustainable packaging industry.
- In 2021, Laminacorr Group bought Technology Container (TCC). TCC is well-known for proprietary processes used in manufacturing reusable polylocking rigid plastic boxes. This acquisition marks Laminacorr's strategic expansion in corrugated sheet conversion and its continued dedication to environmental sustainability goals.
Recent Market Partnerships
- In January 2021, Fynotej announced two new automotive OEM contracts using EconCore’s technology. The company has secured two major contracts to supply 120,000m2 of trunk load floors over two years using Fynocore. Fynocore is the brand name for Fynotej’s continuous honeycomb technology, licensed from EconCore in Belgium.
- In April 2021, Honeycomb Technology Company: EconCore (Leuven, Belgium) and Renolit SE (Rheinland-Pfalz, Germany) partnered to explore the various issues of lightweight, modular design and easily formable and rigid structures for the automotive industry and other markets via EconCore’s polypropylene (PP) honeycomb core. Through this collaboration, Renolit SE has also sought to improve chemical, thermal, water-resistance, and rot-resistance properties.
Recent Market Expansion
- In October 2020, Aerolam, one of the leading manufacturers of air bubble sheets and XLPE insulation, has recently announced an investment of USD 13 million to establish a new manufacturing unit in Ahmedabad, Gujarat, India. This new facility will focus on producing bubble guards. Over the past decade, Aerolam Group has expanded both, vertically and horizontally, exporting various insulation products to 13 countries, this expansion solidifies Aerolam's position in the market.
Recent Product Development
- In April 2019, Inteplast Group Launched the Intepro® TITAN™ bubble board. This innovative item is a three-ply laminated sheet with a unique inner core construction. The core features a bubble pattern resembling a honeycomb, this enables Inteplast to create a bi-directionally strong material suitable for heavy-duty application.
- In April 2023, ThermHex introduced its polypropylene (PP) honeycomb for solar modules at the JEC World in Paris, the world’s largest exhibition for composites. The panel consists of two thin cover layers of thermoplastic fiber composites (UD tape glass-fiber reinforced polypropylene) and a ThermHex PP honeycomb core.
Segments Analysis
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Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Application-Type Analysis
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Outdoor Signs & Displays, Packaging & Protections, Building Solutions, Automotive Renewable Energy, and Others.
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Automotive is anticipated to be the biggest application type in the years to come.
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Thickness-Type Analysis
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<=10 MM, 11-20 MM, and >20 MM
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<=10 MM is estimated to contribute the largest share of the thickness type.
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Outer Skin Material-Type Analysis
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PP and Others
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PP is projected to maintain its dominance as the most preferred outer skin throughout the forecast period.
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Product-Type Analysis
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Honeycomb, Bubble Sheets, and Corrugated Sheets
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Corrugated Sheet is expected to continue as the leading product type during the forecast period
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Europe is projected to maintain its leadership throughout the forecast period, while Asia-Pacific is expected to exhibit the highest growth.
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By Application Type
“Packaging & Protection is expected to remain dominant whereas Renewable energy is estimated to be the fastest-growing application type during the forecast period.”
- The PP Board Market is segmented into outdoor signs & displays, packaging & protections, building solutions, automotive renewable energy, and others.
- PP boards are a preferred material for packaging applications owing to their impressive impact resistance. Its strength enhances the durability of containers and packaging systems, providing robust protection against impacts and ensuring the integrity of the packaged items.
- Key players are adopting recirculating packaging to reduce waste, promote recycling, and minimize environmental impact.
- PP board is expected to have the highest growth rate in renewable energy, owing to the growing applications of PP honeycomb panels in solar panels and wind turbines. These panels have excellent resistance to moisture, chemicals, and UV, making them robust and ideal for the prevailing harsh environmental conditions common in renewable energy like wind power equipment in areas near the coast and solar panels in extremely exposed places.
By Thickness Type
“<=10 MM is expected to remain the dominant and fastest-growing thickness type during the forecast period.”
- The market is segmented into <=10 MM, 11-20 MM, and >20 MM.
- Key advantages of <=10 MM this thickness type include lightweight, flexibility, ease of cutting and fabricating, and cost-effectiveness.
- The thickness range of the Bubble and Corrugated Sheet is 2 MM to 10 MM. PP Honeycomb's thickness ranges from 3MM to 30 MM. However, the preferred thickness for honeycomb is also <=10 MM, making this the dominant and fastest-growing thickness in the market.
By Outer Skin Material Type
"PP is expected to continue as the leading outer skin material type, as well as anticipated to be the fastest-growing type during the forecast period.”
- The market is segmented into PP and others.
- PP is estimated to remain the predominant material used for the outer skin material, mainly due to Bubble Sheets and corrugated sheets composed entirely of 100% PP.
- PP is widely adopted in various industries for its versatility and cost-effectiveness.
By Product Type
"Corrugated sheets are forecasted to maintain their position as the leading product, while Honeycomb is expected to emerge as the fastest growing market over the forecast period.”
- The market is segmented into bubble sheets, honeycomb, and corrugated sheets.
- Corrugated sheets are projected to continue maintaining their dominance as they are extensively adopted across various industries, including automotive, construction, packaging, and other industries.
- Corrugated sheets combine lightweight construction with enhanced strength and rigidity, making them a versatile and cost-effective solution for a wide range of industrial and commercial applications.
- Honeycomb is expected to experience rapid growth, particularly in renewable energy (solar panels and wind turbines) in the foreseeable future.
Regional Analysis
“Europe is expected to remain the largest market for PP Board, whereas Asia-Pacific is estimated to be the fastest-growing during the forecast period.”
- The market for PP boards is dominated by Europe due to the presence of many key players and the higher demand for PP products. Europe is highly inclined towards sustainability and PP being the recyclable material makes it the preferred material in this region.
- Asia-Pacific is anticipated to emerge as the fastest-growing region, due to the presence of many key players and manufacturing hubs for various industries including automotive, construction, and renewable energy. The focus on manufacturing activities drives the demand for lightweight and durable PP boards in this region.
- China, Japan, and India are key countries in this region, with China notably holding the dominant market share.
Key Players
The market is consolidated with a few players holding a fair market share across regions. The majority of companies provide PP boards for automotive applications. The applications of PP boards are steadily expanding across industries, making them an increasingly attractive product. The following are the key players in the PP Board Market:
Here is the list of the Top Players (Based on Dominance)
- Inteplast Group
- Primex Plastics Corporation
- Karton S.p.A.
- Corplex
- Beaulieu International Group (Distriplast)
- Ondaplast S.p.A.
- Polyreflex Hi-Tech Co., Ltd.
- RENOLIT SE
- Ardenplast
- Industrial Plastics Belgium
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
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Key questions this report answers
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Relevant contents in the report
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How big is the sales opportunity?
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In-depth Analysis of the Polypropylene (PP) Board Market
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How lucrative is the future?
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The market forecast and trend data and emerging trends
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Which regions offer the best sales opportunities?
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Global, regional, and country-level historical data and forecasts
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Which are the most attractive market segments?
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Market segment analysis and Forecast
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Which are the top players and their market positioning?
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Competitive landscape analysis, Market share analysis
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How complex is the business environment?
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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What are the factors affecting the market?
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Drivers & challenges
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Will I get the information on my specific requirement?
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10% free customization
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Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Polypropylene (PP) Board Market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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