Global Expanded Polypropylene (EPP) Foam Market – Industry Trends and Forecast to 2030

Global Expanded Polypropylene (EPP) Foam Market, By Type (Low Density, High Density, Porous), Raw Material (Synthetic Polypropylene, Bio-Based Polypropylene), Form (Fabricated, Molded, Other Forms), Application (Automotive, Dunnage, Furniture, Food Packaging, HVAC, Sports and Leisure, Other Applications) – Industry Trends and Forecast to 2030.

Expanded Polypropylene (EPP) Foam Market Analysis and Size

The global expanded polypropylene (EPP) foam market is expected to grow at a significant growth rate during the forecast period. This growth is attributed to the increasing usage of products in wide applications including building and construction, packaging, consumer goods and others. Expanded polypropylene (EPP) foam shows a strong preference for the packaging of delicate goods such as circuit boards and computer equipment in non-food packaging applications. These factors are expected to enhance the growth of the expanded polypropylene (EPP) foam market globally in the forecast period.

Data Bridge Market Research analyses that the expanded polypropylene (EPP) foam market is expected to reach USD 1,932.16 million by 2030, which is USD 984.04 million in 2022, registering a CAGR of 8.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Expanded Polypropylene (EPP) Foam Market Scope and Segmentation

Market Definition

Expanded polypropylene (EPP) foam is manufactured by polypropylene. These foams are highly versatile closed-cell bead foam that offers a unique range of properties, such as multiple impact resistance, thermal insulation, outstanding energy absorption, buoyancy, water and chemical resistance, exceptionally 100% recyclability and high strength-to-weight ratio.

Global Expanded Polypropylene (EPP) Foam Market Dynamics

Drivers

• Increasing demand of expanded polypropylene (EPP) foam in automotive sector

Expanded polypropylene (EPP) foam is extensively used in the automotive sector for thermal insulation, acoustic management, and impact absorption in the floor, seats, bumpers and door panel. Moreover, the growing usage of electric cars promotes the growth of the expanded polypropylene (EPP) foam market because these foams play an important role in manufacture lightweight and thermally insulated electric vehicles, thereby improving the energy absorption capabilities of electric vehicles. Therefore, increasing demand of expanded polypropylene (EPP) foam in automotive sector is expected to drive the market growth.

• Growing popularity of porous expanded polypropylene (EPP) foam

Porous expanded polypropylene (EPP) is included cylinder-shaped polypropylene beads, which increases air space between the beads in the final moulded form, thus increases advantageous acoustical insulating effects and also reduces overall weight. Porous expanded polypropylene (EPP) foam is generally black coloured for automotive applications, however it is often found in white for the packaging products. It is available from some providers in vibrant colours which are suitable for a presentation-grade textured surface. Thus, growing popularity of porous expanded polypropylene (EPP) foam is anticipated to drive the market growth

Opportunities

• Growing product usage in passenger safety and noise, vibration, and harshness (NVH) reduction applications

The market is anticipated to grow steadily and maintain its lead during the forecast period, because of increased usage of expanded polypropylene (EPP) foam in passenger safety and noise, vibration, and harshness (NVH). Furthermore, the increasing importance of reducing overall weight of passenger vehicles to increase fuel economy is expected to create lucrative opportunities for the growth of the market during the forecast period.

• Surging investments by major players for market expansion

The surging investments by major market players further offer numerous growth opportunities within the market. For instance, KANEKA CORPORATION has announced the investment of USD 17 million in 2018, to increase the capacity for Eperan expanded polypropylene and polyethylene particle foams at its Westerlo site in Belgium. This expansion was undertaken owing to the penetration of Eperan foam in Europe

Restraints/ Challenge

• Fluctuating prices of raw material

The easy availability of propylene which is a major raw material for the production of expanded polypropylene (EPP) foam, in major economies has supported the global industry's raw material supply but the volatility associated with the price of these raw material is anticipated to affect the overall cost of final product prices and limiting the market growth during the forecast period.

• Availability of alternative options

Availability of expanded polypropylene (EPP) foam substitutes in the global market such as expanded polyethylene (EPE) and expanded polycarbonate is another major factor expected to hamper the market growth during the forecast period of 2023 to 2030.

This expanded polypropylene (EPP) foam market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the expanded polypropylene (EPP) foam market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2022, Hanwha Solutions declared that they are set to divide off its advanced materials business and retail a stake in the unit to increase USD 491 million for investments at abroad and home. The sell-off was primarily considered in November 2021. Private equity firm Glenwood PE has intended to purchase a 49 percent stake in the division for KRW 600 billion, becoming its second largest shareholder after Hanwha.
• In 2022, resulting the settlement of transactions as a favourable tender proposal made by BEWI in November 2021. BEWI acquired around 121,870 shares of Izoblok which are demonstrating 9.62 percent of the capital share in the country. It is worth noticing that BEWI has already acquired 54.21 percent shares of Izoblock in August 2021. Through the latest acquisition, BEWI owns a regulatory stake of 63.83 percent in Izoblok.

 Global Expanded Polypropylene (EPP) Foam Market Scope

The expanded polypropylene (EPP) foam market is segmented on the basis of type, raw material, form and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Low Density
• High Density
• Porous

Raw Material

• Synthetic Polypropylene
• Bio-Based Polypropylene

Form

• Fabricated
• Molded
• Other Forms

 Application

• Automotive
• Dunnage
• Furniture
• Food Packaging
• HVAC
• Sports and Leisure
• Other Applications

Expanded Polypropylene (EPP) Foam Market Regional Analysis/Insights

The expanded polypropylene (EPP) foam is analyzed and market size insights and trends are provided by country, type, raw material, form and application as referenced above.

The countries covered in the expanded polypropylene (EPP) foam market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific is expected to dominate the expanded polypropylene (EPP) foam market in terms of revenue growth and market share owing to increase in the product demand form major end-use verticals. Moreover, the rapidly increasing automotive sector will further boost the growth of the market in this region.

Europe is expected to be the fastest developing region during the forecast period of 2023-2030 owing to the improving automobile industry and evolving consumer goods industry in developed economies. Furthermore, the presence of major market players is further anticipated to propel the growth of the market in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Expanded Polypropylene (EPP) Foam Market Share Analysis

The expanded polypropylene (EPP) foam market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to expanded polypropylene (EPP) foam market.

Some of the major players operating in the expanded polypropylene (EPP) foam market are:

• BASF SE (Germany)
• Hanwha Solutions (South Korea)
• Armacell (Luxembourg)
• Knauf Insulation (U.S.)
• DS Smith (U.K.)
• KANEKA CORPORATION (Japan)
• Sonoco Products Company (U.S.)
• DONGSHIN INDUSTRY INCORPORATED (South Korea)
• Woodbridge (Canada)
• FURUKAWA ELECTRIC CO., LTD (Japan)
• Signode Industrial Group LLC (U.S.)
• Molan-Pino South Africa (Spain)
• Clark Foam Products (U.S.)
• Izoblok (Poland)
• Paracoat Products Ltd. (India)