Extruded Polypropylene Foam Market Analysis | 2023-2028

Market Insights

The extruded polypropylene foam market was estimated at USD 738.74 million in 2022 and is likely to grow at a CAGR of 7.57% during 2023-2028 to reach USD 1151.78 million in 2028.

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Market Dynamics

Introduction

Extruded polypropylene foam is a kind of plastic form that is known for its environment-friendly nature. They are available in low-density extruded polypropylene foam form as well as high-density extruded polypropylene foam form.

Though automotive is the main application area of extruded polypropylene foam, there are also other areas where it is used such as packaging, building & construction, and others.

Market Drivers

The mounting demand for extruded polypropylene foam from the automotive end-use industry is expected to propel the growth of the global market during the forecast period.

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Key Players

Some of the major players in the market are-

• BASF SE
• Braskem
• DS Smith
• Furukawa Electric Co., Ltd.
• JSP Corporation
• Mitsui Chemicals
• NMC SA
• Pregis
• Toray Industries, Inc.

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

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Segment Analysis

By Type

Based on the type, the market is segmented as low-density extruded polypropylene foam (40-200 Kg/M3) and high-density XPP foam (200-600 Kg/M3). The low-density type segment held the larger share of the market in 2022. The low-density extruded polypropylene foam segment leads the market driven by the growing demand from protective packaging, automotive, and insulation applications. The automotive industry commands the consumption of low-density XPP foam. The use of low-density XPP foam in automotive applications aids in the weight reduction of vehicles and impact protection.

By End-Use Industry Type

Based on the end-use industry type, the market is segmented as automotive, packaging, building & construction, and others. The automotive segment accounted for the largest share of the market in 2022 and is expected to continue its dominance during the forecast period as well. There is a high demand for extruded polypropylene foam in the automotive and packaging end-use industries. The automotive end-use industry governs the complete extruded polypropylene foam market.

Regional Insights

In terms of regions, Asia-Pacific occupied a major chunk of the overall market in 2022 and is estimated to maintain this trend during the forecast period. The dominance of the region is corroborated by the rapid economic growth of packaging, automotive, building & construction, and other end-use industries in the region. Rapid industrialization blended with the enhanced standard of living also positively impacts the growth of the market in the region.

Furthermore, the increasing disposable income in Asia-Pacific along with the high growth of the emerging economies makes it an attractive market for various end-use industries, and subsequently the extruded polypropylene foam market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s extruded polypropylene foam 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.

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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The extruded polypropylene foam market is segmented into the following categories.

By Type

• Low-Density XPP Foam (40-200 Kg/M3)
• High-Density XPP Foam (200-600 Kg/M3)

By End-Use Industry Type

• Automotive
• Packaging
• Building & Construction
• Others

By Region

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

Report 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)

Market Segmentation

• Current market segmentation of any one of the types by end-use industry type.

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 you need any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, or other requirements, please send your inquiry to sales@stratviewresearch.com.