The Reports and Data has recently published Extruded Polypropylene Foam Market size is expected to reach USD 2.07 Billion in 2028 and register a CAGR of 6.0% over the forecast period, according to the latest report by Reports and Data. Rapid global Extruded Polypropylene Foam market revenue growth can be attributed to increasing utilization of Extruded Polypropylene Foam in the automotive industry owing to flexibility and lightweight properties. The excellent energy absorption and high strength properties of Extruded Polypropylene Foams is contributing to growing demand in the automotive industry. Expanded Extruded Polypropylene Foam in the automotive industry is due to enhance fuel consumption and reduce overall weight of vehicles. Increasing adoption of recyclable automotive parts in order to minimize environmental degradation is another factor expected to support market growth going ahead.
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Increasing disposable income among consumers is driving demand for electric cars globally. Rising sales of electric cars is also promoting growth of the Extruded Polypropylene Foam market as the material plays a significant role in the production of thermally insulated and lightweight electric cars. Automotive manufacturers are increasingly investing in improving energy management functions whilst reducing vehicle weight and environmental impact caused by VOCs. Low emission of Extruded Polypropylene Foams help in minimization of VOC emissions from interior components in vehicles. Moreover, the high shock-absorbing performance of expanded Extruded Polypropylene Foam is boosting its utilization in the automotive industry in order to enhance passenger safety. Manufacturers of Extruded Polypropylene Foam are increasingly investing in development and production of automotive exterior components produced from expanded Extruded Polypropylene Foams. Applications of Extruded Polypropylene Foam include bumpers, seating, door panels, stowage systems, floor levelers, pillars, head rests, parcel shelves, sun visors, tool kits, and myriad filler parts.
Top Key Companies: JSP Corporation, BASF SE, Kaneka Corporation, Hanwha Corporation, Mitsui Chemicals, Borealis AG, The Furukawa Electric Co., Ltd., Sonoco Products Company, DS Smith plc, and The Woodbridge Group.
Market Summary:
The “Global Extruded Polypropylene Foam Market” that offers key insights into market share, market size, revenue growth, current and emerging trends, macro- and micro-economic growth factors, regulatory framework, and geographical bifurcation. The report employs a top-down and bottom-up approach to gain critical insights into the Extruded Polypropylene Foam market and the data is further validated and verified from industry experts, professionals, and analysts. The report presents an 8-year forecast for the market growth along with market information such as supply and demand ratio, dominant players, market revenue, driving factors, restraints, and challenges to offer a better understanding of the Extruded Polypropylene Foam market.
Over the recent past, chemical and materials industry has observed rapid digital transformation, innovations and advancements in chemical processing, globalization, sustainability, and development of robust supply chain. Increasing incidence of uncertainties in chemical production and development have further increased focus on risk management solutions. Chemical and materials industry supplies raw materials to a number of end-use industries such as petrochemicals, solvents, manufacturing and construction, and healthcare, among others. Increasing integration of advanced technology in the manufacturing and production processes along with a growing focus on producing environmentally sustainable chemicals and materials is further expected to revolutionize the Extruded Polypropylene Foam market over the forecast period.
Some Key Highlights From the Report
- In April 2021, Borealis and Sulzer announced the launch of a new Extruded Polypropylene Foam extrusion technology enabling increased efficiency and lower cost across the value chain. The new product is expected to cut manufacturing costs by up to 60%. According to Borealis, the innovation will further drive adoption of the company’s Extruded Polypropylene Foam solutions.
- In April 2020, Borealis AG announced complete acquisition of NOVA Chemicals Corporation (NOVA Chemicals) 50% ownership interest in Novealis Holdings LLC. The acquisition is expected to support the company in meeting customer demand and to strengthen its position in the market in North America.
- Extruded Polypropylene Foams segment is expected to account for largest revenue share in the global Extruded Polypropylene Foam market over the forecast period. The ability of expanded Extruded Polypropylene Foam to sustain multiple impacts whilst retaining its shape is expected to drive its demand in automotive and packaging industries.
- Automotive segment is expected to register robust revenue growth over the forecast period. Rising demand for electric cars globally is driving increasing demand for and usage of Extruded Polypropylene Foam as the material is lightweight, provides outstanding energy absorption characteristics, and enhanced thermal insulation properties.
- The Extruded Polypropylene Foam market in Asia Pacific is expected to account for largest revenue share over the forecast period, attributed to rising disposable income among consumers in developing countries, which is supporting growth of packaging and automotive industries in countries in the region.
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For the purpose of this report, Reports and Data has segmented the global Extruded Polypropylene Foam market based on type, application, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Extruded Polypropylene (XPP) Foams
- Extruded Polypropylene Foams
Application Outlook (Revenue, USD Billion; 2018-2028)
- Packaging
- Automotive
- Consumer Products
- Others
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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