Global Extruded Polypropylene (XPP) Foam Market Is Expected To Reach Around USD 1112 Million By 2024

Zion Market Research has published a new report titled “Extruded Polypropylene (XPP) Foam Market by Type (Low-Density XPP Foam and High-Density XPP Foam) and by End-User (Automotive, Packaging, Building & Construction, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, the globalextruded polypropylene (XPP) foam marketwas valued at USD 702 million in 2017 and is expected to reach USD 1112 million by 2024, growing at a CAGR of 6.8% between 2018 and 2024.

Extruded polypropylene foam is a lightweight foam that has versatile properties, such as multiple impact resistance, water and chemical resistance, high strength, thermal insulation, and recyclability. Due to its versatile properties, it is widely used in automotive, construction, packaging, and other industries. Extruded polypropylene foam is recyclable and eco-friendly in nature.

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The growing automotive industry is one of the major factors driving the extruded polypropylene (XPP) foam market globally. Extruded polypropylene foam is widely used to produce lightweight automobile parts, such as bumper and door liners for vehicles. However, the fluctuating raw material prices and the high final product costs might limit the extruded polypropylene foam market globally. Nonetheless, the growing demand for bioplastics and eco-friendly packaging solutions across the globe is projected to create new market opportunities in the forecast timeframe.

The global extruded polypropylene foam market is segmented based on type and end-user. The type segment of the extruded polypropylene (XPP) foam market comprises low-density XPP foam and high-density XPP foam. Low-density XPP foam dominated the market and held the largest share in 2017, owing to the increased product use by the packaging industry, such as food packaging, among another protective packaging. Moreover, low-density XPP foam also helps in weight reduction and impacts vehicle protection, and thus, is widely used by the automotive industry. By end-user, this global market includes automotive, packaging, building and construction, and others. The increasing use of extruded polypropylene foam, especially in the automotive sector, and the extruded polypropylene foam usage is increasing for interior works and housing across the rapidly growing construction industry are further projected to significantly drive the future of the global extruded polypropylene (XPP) foam market.

Asia Pacific dominated the global extruded polypropylene (XPP) foam market, followed by North America and Europe, in 2017. The developing end-use industries in the region’s emerging countries, such as India and China, are also projected to help the region in maintaining its dominance in the upcoming years. North America is likely to grow at the fastest growth rate over the next few years, due to the rising extruded polypropylene foam demand by the packaging industry. The flourishing European automotive industry is estimated to propel the extruded polypropylene (XPP) foam market in the future. Latin America is likely to show huge growth potential in the extruded polypropylene (XPP) foam market, owing to rapid regional industrialization. The Middle Eastern and African region is predicted to witness sluggish growth in this market over the estimated time period.

Some companies involved in the global extruded polypropylene (XPP) foam market are Borealis AG, NMC SA, Furukawa Electric Co., Ltd., Toray Industries, Inc., JSP Corporation, BASF SE, Sekisui Voltek, LLC, Sonoco, Pregis Corporation, DS Smith Plc, Zotefoams Plc, Braskem, Sohner Plastics, Sumitomo Chemical Co., Ltd., and Mitsui Chemicals, among others.

This report segments the global extruded polypropylene (XPP) foam market into:

Global Extruded Polypropylene (XPP) Foam Market: Type Analysis

• Low-Density XPP Foam
• High-Density XPP Foam

Global Extruded Polypropylene (XPP) Foam Market: End-User Analysis

• Automotive
• Packaging
• Building & Construction
• Others

Global Extruded Polypropylene (XPP) Foam Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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