Extruded Polypropylene Foam Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Extruded Polypropylene Foam Market Analysis
The market for extruded polypropylene foam is expected to grow at a CAGR of more than 6% during the forecast period. One of the major factors driving the market studied is the increasing demand for superior foams from the automotive and construction industry. The high cost of extruded polypropylene foam is expected to hinder the growth of the market studied.
- The construction industry dominated the market and is expected to grow during the forecast period.
- Growing applications in various end-use industries are likely to act as an opportunity in the future.
- Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China, India, and ASEAN countries.
Extruded Polypropylene Foam Market Trends
This section covers the major market trends shaping the Extruded Polypropylene Foam Market according to our research experts:
Increasing Demand from Construction Sector
- In building and construction, polypropylene foams of densities from 70 to 250 kg/m3 and film thickness of 1.5 to 6.0 mm are mostly used, particularly for interior works and housing. The parts are lightweight, stiff, show good impact and, most importantly, excellent thermal insulation properties.
- Polypropylene based foams are used as insulating materials in homes, refrigerators, and are used for several other purposes. Insulating foams helps consumers cut down their heating and cooling costs.
- With the rising number of building codes that promote energy-efficient structures, home builders and consumers are gradually moving toward building strategies that deliver performance and energy savings in the long run.
- According to the department of energy, heating and cooling costs account for 48% of the energy use in a typical US household. Extruded polypropylene foam are important solutions in improving a home’s energy efficiency, along with other insulating foams, such as EPS, etc.
- According to the US Environmental Protection Agency, energy star program can save up to 11% on a person's energy bills, by adding insulation and sealing air leaks.
- If properly insulated, the spray foam insulation can also provide protection against moisture. This in turn, reduces the chances of walls developing harmful molds, mildews, etc. In addition to providing temperature and moisture control, insulation is often used to provide noise reduction. The insulation also proves to be helpful during summer season in reducing air-conditioning.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share in 2018. With growing construction activities and rapid urbanization in countries such as China, India, Indonesia, Thailand, Vietnam, etc. the usage of extruded polypropylene foam is increasing in the region.
- For instance, the construction industry is among the fastest-growing industries in India. The construction sector in India has been growing rapidly with increased investment by the government. The Indian government's ‘Housing for All by 2022’ is a major game-changer for the industry. A cumulative total of USD 24.67 billion foreign direct investment has been made for the construction activities (including townships, built-up infrastructure, and construction- development projects) in the country, between the period of April 2000 to December 2017.
- The country is likely to witness an investment of around USD 1.3 trillion in housing over the next seven years, where it is likely to witness the construction of 60 million new homes. Thus, the availability of affordable housing is expected to rise by around 70% by 2024, in India.
- China has the second-largest packaging industry in the world. The country is expected to witness a consistent growth during the forecast period, owing to the rise of customized packaging, increased demand for packaged consumerist goods, in the food segment, like microwave food, snack foods, and frozen foods, etc.
- Moreover, the country witnessed rapid growth in the fast-moving consumer goods (FMCG) sector. The growth of the FMCG market was majorly driven by the increased spending on premium and healthier products by the middle-class consumers in the country.
- During 2018, express delivery companies delivered around 49 billion parcels in the country, which reflects about a 23% increase from that of the last year. With such growth in industrial and FMCG products, the packaging demand has been increasing in the country.
- This is expected to increase the demand for extruded polypropylene foam from the packaging industry during the forecast period.
- All such factors coupled with increasing consumption from other emerging economies of Asia-Pacific is driving the growth of the market in the region.
Extruded Polypropylene Foam Industry Overview
The extruded polypropylene foam market is fragmented and is dominated by very few players. Some of these major players include Borealis AG, Mitsui Chemicals Tohcello.Inc., Sumitomo Chemical, Pregis LLC, and NMC SA.
Extruded Polypropylene Foam Market Leaders
-
Borealis AG
-
Mitsui Chemicals Tohcello.Inc.
-
Sumitomo Chemical
-
Pregis LLC
-
NMC SA
*Disclaimer: Major Players sorted in no particular order
Extruded Polypropylene Foam Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Superior Properties and Recyclability of XPP Foams
- 4.1.2 Increasing Demand for Superior Foams from Automotive and Construction Industry
-
4.2 Restraints
- 4.2.1 High Price of XPP Foam
- 4.2.2 Other Restraints
- 4.3 Industry Value-Chain Analysis
-
4.4 Porters 5 Force Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 Type
- 5.1.1 Low-Density XPP Foam
- 5.1.2 High-Density XPP Foam
-
5.2 End-User Industry
- 5.2.1 Automotive
- 5.2.2 Building & Construction
- 5.2.3 Packaging
- 5.2.4 Others
-
5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 ASEAN Countries
- 5.3.1.6 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East & Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
- 6.4.1 Borealis AG
- 6.4.2 Mitsui Chemicals Tohcello.Inc.
- 6.4.3 Pregis LLC
- 6.4.4 DS Smith
- 6.4.5 NMC SA
- 6.4.6 Zotefoams
- 6.4.7 Toray Industries
- 6.4.8 Braskem
- 6.4.9 Sumitomo Chemical
- 6.4.10 Sohner Plastics
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Applications in Various End-Use Industries
Extruded Polypropylene Foam Industry Segmentation
The Extruded Polypropylene Foam market report include:
| Type | Low-Density XPP Foam | |
| High-Density XPP Foam | ||
| End-User Industry | Automotive | |
| Building & Construction | ||
| Packaging | ||
| Others | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| ASEAN Countries | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East & Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East & Africa |
Extruded Polypropylene Foam Market Research FAQs
What is the current Extruded Polypropylene (XPP) Foam Market size?
The Extruded Polypropylene (XPP) Foam Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Extruded Polypropylene (XPP) Foam Market?
Borealis AG, Mitsui Chemicals Tohcello.Inc., Sumitomo Chemical, Pregis LLC and NMC SA are the major companies operating in the Extruded Polypropylene (XPP) Foam Market.
Which is the fastest growing region in Extruded Polypropylene (XPP) Foam Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Extruded Polypropylene (XPP) Foam Market?
In 2024, the Asia Pacific accounts for the largest market share in Extruded Polypropylene (XPP) Foam Market.
What years does this Extruded Polypropylene (XPP) Foam Market cover?
The report covers the Extruded Polypropylene (XPP) Foam Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Extruded Polypropylene (XPP) Foam Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Extruded Polypropylene (XPP) Foam Industry Report
Statistics for the 2024 Extruded Polypropylene (XPP) Foam market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Extruded Polypropylene (XPP) Foam analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
