USA, Rockville MD, June 05, 2022 (GLOBE NEWSWIRE) — In 2022, the global extruded polypropylene (XPP) foam market is valued at US$903.8 million and is expected to grow at a CAGR of 6.9% through 2032. This insight is provided in a new research report from Fact.MR, a research research provider. market and competitive intelligence.
Extruded PP foam has seen a steady increase in consumption over the past few years due to the growing demand for lightweight and recyclable materials. Growing urbanization and industrialization have spawned new construction activities, which is also expected to drive the XPP foam market potential over the coming years. The growing attention to sustainability is also expected to increase the use of extruded polypropylene foam in the automotive industry.
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However, the high costs of extruded polypropylene foam are expected to negatively affect the market growth to some extent over the next few years.
Leading manufacturers of extruded polypropylene foam are investing in increasing their manufacturing capacities to meet the high demand from various industries. The XPP foam market is moderately consolidated with few major players accounting for notable market share, and hence, there is still room for new market players to make their mark in this industry.
Why is the demand for extruded polypropylene foam increasing significantly?
“Rapid increase in the use of extruded PP foam in the automotive and construction sectors”
The extruded polypropylene foam market is expected to be primarily driven by strong demand from the automotive and construction industries as they experience an increase in the application scope of XPP foam.
The characteristic properties of extruded polypropylene foam such as high temperature and chemical resistance, good strength-to-weight ratio, and recyclability are all highly desirable for construction and automotive applications and are therefore expected to see a significant increase in popularity. use in these industries. Expanded polypropylene foam is also expected to see a steady increase in demand in the automotive industry.
Additionally, the emphasis on the use of recyclable materials in these industries to achieve sustainability goals is also expected to support the growth of the extruded polypropylene foam market.
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Key segments covered by the High Density Extrussed polypropylene foam Industry survey
- Extruded Polypropylene Foam Market By Type:
- High density XPP foam
- Low density XPP foam
- Extruded Polypropylene Foam Market by End Use:
- Building construction
- Extruded Polypropylene Foam Market by Region:
- North America
- Latin America
Major companies in the extruded polypropylene foam (XPP) market account for notable market share; However, the market still offers many opportunities for new entrants.
Extruded polypropylene foam suppliers are expected to expand their business networks to meet the growing demand for extruded PP foam in industry verticals.
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The key players in the High Density Extrussed polypropylene foam Market
- Borealis AG
- Mitsui Chemicals Tohcello Inc.
- Sekisui Voltek
- Sonoco products
- DS Smith Plc
- NMC S.A.
- Pregis LLC
- Zotefoams Plc
Main takeaways from Down Density Extrussed polypropylene foam Market research
- XPP foam shipments are expected to increase at a CAGR of 6.9% from 2022 to 2032.
- The extruded polypropylene foam market is expected to generate a revenue of US$1.75 billion by 2032.
- Growing urbanization, growing use in the automotive industry, growing emphasis on sustainability, and growing demand for recyclable materials are significant factors that will drive the growth of the extruded polypropylene foam market.
- The North America extruded polypropylene foam market is worth US$295.3 million in 2022 and is expected to account for a major market share of 36.8% by 2032 in the global market.
- High costs of extruded polypropylene foam is expected to somewhat hamper the market potential till 2032.
- The China extruded polypropylene foam market is expected to reach a valuation of US$120.4 million by the end of 2032 while growing at a CAGR of 6.5%.
- Low-density XPP foam is expected to capture a dominant market share of 64.6% by 2032.
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