The EPP foam industry is anticipated to expand gradually at a CAGR of 11.4% between 2023 and 2033. The market is expected to grow from its predicted US$ 1.87 billion value in 2023 to a share of US$ 5.52 billion by 2033.
Expanded polypropylene (EPP) foam is expected to become widely used in the market, and it is observed that growing product penetration in applications like consumer goods, packaging, and furniture is probably going to have a big effect on this product’s ability to expand into new markets.
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Key Points
- The United States market leads the North American expanded polypropylene (EPP) foam market in terms of market share in North America. The United States held a market share of 16.7% in 2022. The factors attributed to the growth are industrial expansion and higher penetration of e-commerce platforms. The government promoting alternative materials and their applications are also helping the regional market.
- The German expanded polypropylene (EPP) foam market held a healthy market share of 13.1% in 2022. The advanced automotive sector and extended research and development facilities cause market growth.
- The Indian market thrives at a steady CAGR of 13.1% between 2023 and 2033. The growth is attributed to booming automotive production and rising demand for new grades.
- China thrives at a CAGR of 12.3% between 2023 and 2033.
- Based on grade type, the high-density segment held the leading market share of 50.0% in 2022.
- Based on application type, the automotive industry segment leads as it held a market share of 40.0% in 2022.
Competitive Landscape
The key suppliers focus on effective quality, different grades, and easy availability. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments
- Kaneka Corporation introduced molded foam components with different grades of EPP foam for multiple uses, such as automotive, packaging, industrial insulation, and others. The product has properties like shape molding, multiimpact, energy and water absorption, flexibility, and resilience. Other than this, the foam’s structural strength, durability, and lightweight dynamics also promote it as the ideal material for automotive operations.
- Sonoco Products Company, a foam packaging firm launched the expanded polypropylene (EPP) and expanded polyethylene (EPE) foams.
Key Players
- Furukawa Electric Co., Ltd
- Knauf Industries
- Dongshin Industry Inc.
- Kaneka Corporation
- JSP Corporation
- BASF SE
- SSW Pearl Foam GmbH
- Sonoco Products Company
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Key Segmentation of the EPP Foam Industry
By Grade Type :
- Low Density
- High Density
- Porous PP
By Application :
- Automotive
- Industrial Packaging
- Consumer Products
- Building & construction
- Others
By Region:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- The Middle East and Africa
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