Rising demand for lightweight vehicles is expected to drive sales in the expanded polypropylene (EPP) foam market. According to a study by Future Market Insights (FMI), the market is expected to exhibit 6.0% CAGR between 2021 and 2031
Globally, the growth of global expanded polypropylene (EPP) foam market is driven by the increasing demand from automotive and industrial packaging industries. EPP foam is a special kind of foam, which is light weight, highly durable, offers energy or shock absorption, and wear, tear, impact and chemical resistance.
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Application of EPP foam is expected to increase across diverse industries as they look for advanced industrial packaging solutions. Of these, the automotive sector is expected to account for nearly half of EPP foam sales over the forecast period.
Key Takeaways from EPP Foam Market Study
- The global EPP foam market is estimated to reach a market value of US$ 2.24 Bn by 2031
- Rising automotive production will enable the U.S. account for nearly 80% of sales in North America
- Increasing construction spending will enable the U.K. market exhibit a solid 5.1% y-o-y growth in 2021
- Construction and industrial recovery will boost sales in Germany and France
- Besides China, Japan and South Korea will emerge as key markets backed by rising industrial application in East Asia
“Despite sluggish growth registered amid pandemic, EPP foam sales are expected to pick up in response to economic recovery across the world. Manufacturers are likely to capitalize on the opportunity by offering quality products and competitive pricing,” said a lead analyst at FMI.
Who is winning?
Key manufacturers in the EPP Foam market such asBASF SE, Schaumaplast GmbH & Co. KG, Hanwha Corporation, Recticel, Furukawa Electric Co., Ltd, Knauf Industries, Paracoat Products Limited, Kaneka Corporation, JSP Corporation, ACH foam Technologies, The Woodbridge Group, SSW Pearl Foam GmbH, Sonoco Products Company, Clark Foam, Bradford Company, Dongshin Industry Inc., DS Smith Plastics, Marko Foam Products, Inc., Eurofoam Group, Dongguan City Prosperous Mass Poly Foam Co.Ltd are focusing on strengthening their product portfolio and expanding their market footprint through acquisition of smaller companies in the market.
To Know More about EPP Foam Market:
A new market research report published by Future Market Insights (FMI) on the global EPP Foam market report offers in-depth insights into the market demand trends and assessment of opportunities during the forecast period. The report analyses the EPP Foam market through three different segments- grade type, by manufacturing process, by application and region. The EPP Foam report also offers detailed analysis of pricing analysis by different grade type’s demand across various application and patent analysis in the market.
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Want to Know More?
Future Market Insights has published a market research report on the EPP Foam market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the EPP Foam market through three different segments- grade type, by manufacturing process, by application and region.