Dublin, July 09, 2020 (GLOBE NEWSWIRE) -- The "Expanded Polypropylene (EPP) Foam Market by Type (Low Density, High Density & Porous PP), Application (Automotive, Packaging, Consumer Products), and Region (North America, Europe, Asia-Pacific) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global EPP foam market is projected to grow from USD 1,253 Million in 2019 to USD 1,619 Million by 2025, at a CAGR of 5.3% between 2019 and 2025. Recyclable & reusable properties, optimum performance, and low weight of EPP foam are driving the market. However, the manufacturers are facing challenges with regard to volatility in raw material prices.
The key players in the EPP foam market are JSP Corporation (Japan), BASF SE (Germany), and Kaneka Corporation (Japan). These companies are undertaking investment & expansion as the strategy to increase their market shares.
The EPP foam market projected to witness the highest CAGR in Porous PP segment during the forecast period
Porous PP foam's shape helps to add air space, making these foams lightweight. These foams are good in impact protection, highly durable, have high structural integrity. They are mainly used in the automotive industry for noise and vibration reduction. Car interior is the major application of porous PP foams, which are mainly used in this application because of their characteristic of noise reduction.
Automotive is estimated to have the largest share of the overall EPP foam market during the forecast period.
Due to low cost, outstanding mechanical properties, and moldability, EPP foam is widely used in automotive parts. It helps in reducing vehicle weight up to 10%, allowing up to 7% fuel saving. It also helps in minimizing the release of VOCs from automotive interior parts. When EPP foam is additionally combined with metals, a greater amount of energy can be absorbed and distributed. These factors are supporting the trend of making eco-friendly vehicles.
APAC is estimated to dominate the global EPP foam market.
APAC accounted for a largest share of the global market, in terms of value, in 2019. The region is also projected to be the largest market between 2019 and 2024 due to China, India, and other booming economies in the region. It is projected to offer significant opportunities for vehicle manufacturers, and in turn, EPP foam manufacturers in the next five years.
Research Coverage
This report provides detailed segmentation of the EPP foam market based on resin type, application, and region. Based on type, the EPP foam market has been segmented into low density, high density, and porous PP. Based on application, the market has been segmented into automotive, packaging, consumer goods, and others. Based on region, the market has been segmented into APAC, Europe, North America, South America, and the Middle East & Africa.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Premium Insights
3.1 Significant Opportunities in the EPP Foam Market
3.2 EPP Foam Market, By Type
3.3 APAC EPP Foam Market, By Application and Country, 2019
3.4 EPP Foam Market, By Key Countries
3.5 EPP Foam Market, Developed vs. Developing Countries
4 Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Recyclable & Reusable Properties of EPP Foam
4.2.1.2 Optimum Performance and Low Weight of EPP Foam
4.2.2 Restraints
4.2.2.1 Higher Price of EPP Foam Over Other Types of Foam
4.2.2.2 Volatile Raw Material Prices
4.2.3 Opportunities
4.2.3.1 Growing Demand for EPP Foam in End-Use Industries
4.2.3.2 Investments in Emerging Economies
4.2.4 Challenges
4.2.4.1 Less Awareness About EPP Foam
4.3 Porter's Five Forces Analysis
4.4 Macroeconomic Overview and Key Indicators
4.4.1 Global GDP Trends and Forecasts
4.4.2 Trends in the Packaging Industry
4.4.3 Growth Indicators in the Automotive Industry
5 EPP Foam Market, By Type
5.1 Introduction
5.2 Low Density
5.2.1 Low-Density EPP Foams Have High Demand in the Packaging Industry
5.3 High Density
5.3.1 These Foams Have Good Stability, High Strength-To-Weight Ratio, and Load-Bearing Structural Support
5.4 Porous PP
5.4.1 These Foams Help in Noise and Vibration Reduction
6 EPP Foam Market, By Application
6.1 Introduction
6.2 Automotive
6.2.1 EPP Foam is Used Widely in Automotive Applications for Its Low Weight
6.3 Packaging
6.3.1 Affordability of EPP Foam is Driving the Demand in Packaging Applications
6.4 Consumer Products
6.4.1 Energy Absorption and Acoustic Insulation are Boosting the Demand in Consumer Products
6.5 Others
7 EPP Foam Market, By Region
7.1 Introduction
7.2 North America
7.2.1 US
7.2.1.1 The Automotive Industry is Driving the Demand for EPP Foam
7.2.2 Canada
7.2.2.1 The Market is Fueled By the Demand in Packaging Applications
7.2.3 Mexico
7.2.3.1 The Country is Attracting Investments By Key Market Players
7.3 Europe
7.3.1 Germany
7.3.1.1 Increased Demand From Automotive Parts Manufacturing Sector is Driving the Market
7.3.2 France
7.3.2.1 The Country is One of the Leading Exporters of Packaging Materials Globally
7.3.3 Spain
7.3.3.1 The Country has the Presence of Established Car Manufacturers
7.3.4 UK
7.3.4.1 Significant Investments are Made for Automotive R&D
7.3.5 Netherlands
7.3.5.1 The Growing Automotive Sector is Likely to Boost the Demand for EPP Foam
7.3.6 Rest of Europe
7.4 APAC
7.4.1 China
7.4.1.1 Growing Industrial and Manufacturing Activities are Resulting in Increasing the Demand for EPP Foam
7.4.2 India
7.4.2.1 Promising Automobile Manufacturing Growth is Expected to Drive the Demand for EPP Foam
7.4.3 Japan
7.4.3.1 The Manufacturing Industry is Projected to Experience Low Growth Due to Saturated Market Conditions
7.4.4 South Korea
7.4.4.1 The Key Automobile Manufacturers are Headquartered in the Country
7.4.5 Thailand
7.4.5.1 It is the Largest Automobile Producer Among Southeast Asian Countries
7.4.6 Rest of APAC
7.5 South America
7.5.1 Brazil
7.5.1.1 The Market for EPP Foam in Brazil is Led By Demand From the Automotive Industry
7.5.2 Argentina
7.5.2.1 High Demand for Luxury Cars and Suvs is Witnessed in the Country Due to Increasing Consumer Spending
7.5.3 Rest of South America
7.6 Middle East & Africa
7.6.1 South Africa
7.6.1.1 The EPP Foam Market is Driven By the Presence of Various Car Manufacturers in the Country
7.6.2 Morocco
7.6.2.1 Presence of A Large Number of Automobile Companies is Boosting the Market
7.6.3 Rest of Middle East & Africa
8 Competitive Landscape
8.1 Introduction
8.2 Competitive Scenario
8.2.1 Investment & Expansion
9 Company Profiles
9.1 JSP Corporation
9.1.1 Business Overview
9.1.2 Products Offered
9.1.3 Recent Developments
9.1.4 SWOT Analysis
9.2 Kaneka Corporation
9.3 Hanwha Chemical Corporation
9.4 BASF SE
9.5 Furukawa Electric Co. Ltd.
9.6 DS Smith PLC
9.7 Sonoco Products Company
9.8 Woodbridge
9.9 Automa Multi Styrene
9.10 Chemische Fabrik Budenheim KG
9.11 Clark Foam Products
9.12 K. K. Nag Ltd.
9.13 Knauf Industries
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