New York, NY, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Extruded Polypropylene (XPP) Foam Market by Type (Low-Density XPP Foam and High-Density XPP Foam) and by End-User (Automotive, Packaging, Building & Construction, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, the global extruded polypropylene (XPP) foam market was valued at USD 702 million in 2017 and is expected to reach USD 1112 million by 2024, growing at a CAGR of 6.8% between 2018 and 2024.
Extruded polypropylene foam is a lightweight foam that has versatile properties, such as multiple impact resistance, water and chemical resistance, high strength, thermal insulation, and recyclability. Due to its versatile properties, it is widely used in automotive, construction, packaging, and other industries. Extruded polypropylene foam is recyclable and eco-friendly in nature.
Browse through 71 Tables & 34 Figures spread over 110 Pages and in-depth TOC on “Global Extruded Polypropylene (XPP) Foam Market: Industry Size, Share, Segments, Growth Analysis and Forecast, 2017 – 2024”.
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The growing automotive industry is one of the major factors driving the extruded polypropylene (XPP) foam market globally. Extruded polypropylene foam is widely used to produce lightweight automobile parts, such as bumper and door liners for vehicles. However, the fluctuating raw material prices and the high final product costs might limit the extruded polypropylene foam market globally. Nonetheless, the growing demand for bioplastics and eco-friendly packaging solutions across the globe is projected to create new market opportunities in the forecast timeframe.
The global extruded polypropylene foam market is segmented based on type and end-user. The type segment of the extruded polypropylene (XPP) foam market comprises low-density XPP foam and high-density XPP foam. Low-density XPP foam dominated the market and held the largest share in 2017, owing to the increased product use by the packaging industry, such as food packaging, among another protective packaging. Moreover, low-density XPP foam also helps in weight reduction and impacts vehicle protection, and thus, is widely used by the automotive industry. By end-user, this global market includes automotive, packaging, building and construction, and others. The increasing use of extruded polypropylene foam, especially in the automotive sector, and the extruded polypropylene foam usage is increasing for interior works and housing across the rapidly growing construction industry are further projected to significantly drive the future of the global extruded polypropylene (XPP) foam market.
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In 2017, Asia Pacific dominated the global extruded polypropylene (XPP) foam market due to the rapid economic development and growing automotive, packaging, and building and construction sectors. The developing automotive industry in Malaysia, South Korea, Thailand, Indonesia, the Philippines, and Vietnam is further projected to fuel the region’s extruded polypropylene (XPP) foam market. Moreover, the emerging construction sectors and the growing infrastructure investments in India and China are expected to fuel the extruded polypropylene (XPP) foam market in the Asia Pacific region.
North America was the second largest market for extruded polypropylene foam and is estimated to grow significantly within the estimated period. The growing packaging industry in the region is likely to fuel the extruded polypropylene (XPP) foam market growth. Increasing demand for eco-friendly packaging is anticipated to boost the use of extruded polypropylene foam in the region.
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Substantial developments made in the European automotive industry are expected to increase the use of extruded polypropylene foam in the region. The increased use of extruded polypropylene foam to manufacture lightweight, energy-efficient and sustainable vehicles is likely to further augment this regional market. Germany and Italy are the major users of extruded polypropylene foam, due to the prominent presence of automobile producers in both countries. This is also projected to fuel the extruded polypropylene (XPP) foam market in the future.
Rapid industrialization in Latin America is one of the major growth drivers of the extruded polypropylene (XPP) foam market. Brazil is the leading regional consumer of extruded polypropylene foam. The region’s developing construction and automotive sectors are projected to fuel the extruded polypropylene (XPP) foam market. Additionally, the growing packaging industry is likely to increase the use of polypropylene foam in Latin America. This, in turn, is expected to drive the extruded polypropylene (XPP) foam market in the upcoming years.
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The Middle Eastern and African market is estimated to grow moderately due to the region’s emerging automotive industry. Moreover, the rising construction activities and the increasing demand for consumer goods are likely to fuel the market in the upcoming years. Extruded polypropylene foam is largely used for interior designing and housing in the construction industry, which is expected to expand the extruded polypropylene (XPP) foam market over the estimated timeframe.
Some companies involved in the global extruded polypropylene (XPP) foam market are Borealis AG, NMC SA, Furukawa Electric Co., Ltd., Toray Industries, Inc., JSP Corporation, BASF SE, Sekisui Voltek, LLC, Sonoco, Pregis Corporation, DS Smith Plc, Zotefoams Plc, Braskem, Sohner Plastics, Sumitomo Chemical Co., Ltd., and Mitsui Chemicals, among others.
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This report segments the global extruded polypropylene (XPP) foam market into:
Global Extruded Polypropylene (XPP) Foam Market: Type Analysis
- Low-Density XPP Foam
- High-Density XPP Foam
Global Extruded Polypropylene (XPP) Foam Market: End-User Analysis
- Automotive
- Packaging
- Building & Construction
- Others
Global Extruded Polypropylene (XPP) Foam Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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