Polypropylene Foams Market Report

Market Insights

"The global polypropylene foams market size was estimated at USD 1.3 billion in 2023 and is likely to grow at a CAGR of 6.2% during 2024-2029 to reach USD 1.87 billion in 2029."

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Polypropylene foams are lightweight, resilient, and tough foam that is resistant to chemicals and moisture. These foams are manufactured with properties such as sustaining a wide temperature range. It is often brought to use in different applications such as cushioning, automotive components, packaging, and many others.

Polypropylene Foams are manufactured through different processes and are available in different variants such as expanded polypropylene, extruded polypropylene, and others. Apart from the automotive and packaging industries, they are also used in other industries such as consumer products.

Market Dynamics

Market Drivers

The rising demand for lightweight automobiles is the prime factor that is bolstering the growth of the global market. Further, the growing claim from various end-use industries in the industrialized and emerging economies has prompted the evolution of the polypropylene foams market.

Segment Analysis

By Type

"The extruded polypropylene (XPP) foams segment accounted for the largest market share."

The market is segmented as expanded polypropylene (EPP) foams, extruded polypropylene (XPP) foams, and type (Density Basis). Expanded polypropylene (EPP) foam is presently governing the market. However, extruded polypropylene (XPP) foam is estimated to be the fastest-growing segment during the forecast period and is chosen by several key end-use industries for various applications, owing to its premium performance properties, such as lightweight, elevated impact resistance, water & moisture confrontation, and shape withholding property.  

End-Use Industry Trends

"The automotive segment accounted for the largest market share."

The market is segmented as automotive, packaging, consumer products, and others. The automotive application segment held the largest share in 2023, which was followed by consumer products, packaging, and other applications. The increasing claim for innovative products, along with the necessity for exploration and growth in polypropylene foams, has invigorated companies to adopt organic and inorganic stratagems and to augment their market shares in the corresponding regions.

Regional Insights

"Asia-Pacific accounted for the largest market share."

Asia-Pacific is estimated to depict the maximum growth in the polypropylene foams market, in terms of value and volume, during the forecast period. In current years, the claim from packaging applications and automotive sectors has grown in the region, owing to rising population and increasing disposable income, which in turn, is driving the polypropylene foams market in the region. Polypropylene foams are dominating the market as they are absolutely recyclable. With their remarkable characteristics, polypropylene foams qualify for CO2 emissions reduction. Driven by their superior mechanical properties, polypropylene foams can be employed time and again for many years, even under severe environmental circumstances. The robust call for high-end polypropylene foams in automotive industries from developing countries and convalescing developed nations is anticipated to bolster the growth of this market during the forecast period. North America and Europe are also expected to offer substantial growth opportunities in the coming five years.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Key Players

Some of the major players in the polypropylene foams market are-

• BASF SE
• Kaneka Corporation
• Hanwha Corporation
• Mitsui Chemicals, Inc.
• Borealis AG
• Furukawa Electric Co., Ltd.
• Sonoco Products Company
• DS Smith PLC.
• K. K. NAG Ltd.
• Pregis Corporation

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s polypropylene foams 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 the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the 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 1000 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 the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

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?

The polypropylene foams market is segmented into the following categories.

By Type

• Expanded Polypropylene (EPP) Foams
• Extruded Polypropylene (XPP) Foams
• Type (Density Basis)

By End-Use Industry Type

• Automotive
• Packaging
• Consumer Products
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.