As per the report published by FMI, the global expanded polypropylene (EPP) foam market is projected to have a moderate-paced CAGR of 11.40% during the forecast period. The current valuation of the market is US$ 1,685.97 million in 2022. The market value of expanded polypropylene (EPP) foam is anticipated to reach a high of US$ 4,962.51 million by the year 2032.
The expanded polypropylene (EPP) foam market largely penetrating a number of end-use industries and the market is expected to grow 1.7X in the estimated period of 2022-2032. The eco-friendly and high-performance nature of expanded polypropylene (EPP) foam makes it an ideal material for a variety of applications such as elements of seats, bumpers, outdoor & indoor furniture, and FMCG products.
According to the findings of Future Market Insights, the demand for EPP foam is expected to gain additional traction, amidst increasing investments in manufacturing sectors across major economies. EPP foam plays a supplementary role in the manufacturing processes of many end-use industries.
Get a Sample Copy of the Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-2600
An increase in the manufacturing of these products will directly impact the need for the product on a global level. FMI has analyzed that the growing demand for chemical- and water-resistant materials in the packaging and consumer goods industries is slated to propel product demand over the forecast period.
Key Takeaways from the Expanded Polypropylene (EPP) Foam Market
- North America and Europe cumulatively account for a total of 35% market share in the Expanded Polypropylene (EPP) Foam Market.
- Asia Pacific (APAC) region is projected to dominate the global market with a revenue share of 52% in the Expanded Polypropylene (EPP) Foam Market.
- The automotive industry segment is projected to hold the highest revenue and constituted 40.0% of the total revenue share in the base year.
- The high-density product segment accounted for a market share of more than 53% during the base year and is likely to dominate during the forecast period.
“Green buildings are offering advantages including improved air quality, reduction in operating expenditure, reduction in overall load on metal frames, and efficient use of energy & water as compared to conventional buildings, therefore the use of EPP in the construction sector is likely to gain rapid traction in coming years.” – Says an FMI Analyst
Use promo code ->> FMITODAY to get flat 20% discount
Competition Landscape in the Expanded Polypropylene (EPP) Foam Market
The majority of the market players are engaged in the expansion of manufacturing facilities, mergers & acquisitions, and vertically integrating across the value chain. These initiatives enable companies to cater to increasing global demand, ensure competitive effectiveness, enhance sales & operations planning, develop innovative products & technologies, lower production costs, and expand customer base.
Paracoat Products Limited, ACH Foam Technologies, Eurofoam Group, Dongguan City Prosperous Mass Poly Foam Co.Ltd are some key players in the expanded polypropylene (EPP) foam market.
Key Segments in The Expanded Polypropylene (EPP) Foam Market
By Grade Type:
- Low Density
- High Density
- Porous PP
By Application:
- Automotive
- Industrial Packaging
- Consumer Products
- Building & construction
- Others
Before Buying, Visit for Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-2600
Recent Developments in the Expanded Polypropylene (EPP) Foam Market:
- Kaneka Corporation stated in August 2017 that it would open a new enlarged polyolefin foam manufacturing plant in Rayong, Thailand. To meet the growing demand in Southeast Asia and India, an investment of USD 18 million was made to build a production capacity of 3,000 metric tonnes per year.
- JSP stated in August 2020 that its ARPRO extended polypropylene (EPP) brand would complete a full cycle. JSP has introduced ARPRO 5134 RE, a new product line with 25% recycled content derived from recycled EPP.
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs