Market Overview –
An annual CAGR of over 6% is projected in the global extruded polypropylene foam market over this period. The growing need for high-quality foams in the automotive and construction industries is one of the primary drivers of this market. Extruded polypropylene foam’s high price is projected to be a hindrance to the market’s expansion.
Increased need for lightweight autos, development and expansion in packaging, and rising disposable income are just some of the reasons polypropylene foam market is predicted to rise over this forecast period. As the need for new products grows, major players in the market are working hard to stay ahead of the curve by implementing extensive and ongoing technological adjustments. For example, Austrian chemical manufacturer Borealis AG struck a strategic relationship with Greentech packaging business Bockatech in 2018 to create foam injection moulding solutions for recyclable and reusable packaging.
Manufacturers expect to increase R&D spending because consumers are becoming more aware of sustainability and prefer companies with green practises. The polypropylene foam market is likely to develop during the forecast period as a result of the chemical industry’s focus on sustainability. On the other hand, fluctuating raw material prices and growing public concern about the environmental harm caused by these materials are expected to restrain market expansion somewhat in the coming years.
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Market Dynamics –
The global market for extruded polypropylene foam (XPP) is increasing at a rapid rate because of its exceptional characteristics and recyclability. Extruded polypropylene (XPP) foam is expected to be in high demand in the coming years due to the expanding automotive industry’s need for higher-quality foams. Extruded polypropylene (XPP) foam market expansion would be hampered by a lack of consumer knowledge of XPP foams. This means that market players may soon be able to cash in on the great growth potential of emerging countries.
Market Scope –
An in-depth look at the chemicals and materials business, with a focus on worldwide market trends, can be found in “Global Extruded Polypropylene (XPP) Foam Market Analysis to 2028.” According to this analysis, the extruded polypropylene foam market is expected to grow at a CAGR of 7.6% during the next five years.
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Over the next few years, the global extruded polypropylene (XPP) foam market is predicted to rise at a rapid pace. Extruded polypropylene (XPP) foam market companies are profiled in the analysis, as well as important industry trends and opportunities.
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Competitive Landscape –
Competition in the extruded polypropylene (XPP) foam industry can be viewed by rival. Information on firm overview, financials (revenue and profit), investment in R&D, new product efforts and global presence are among the topics included in this section. Also included are product launch, product width and breadth and application domination. Extruded polypropylene (XPP) foam is the only market on which the companies listed above have focused their efforts.
Key Players –
BASF SE
KANEKA CORPORATION
NMC GROUP
Zotefoams Plc
Hanwha Advanced Materials America
Mitsui Chemicals, Inc.
JSP Corporation
Borealis AG
FURUKAWA ELECTRIC CO., LTD.
Sonoco Products Company
K. Nag Ltd.
Pregis LLC
Synbra Technology bv
DS Smith Plc
Sekisui Alveo GmbH
Woodbridge Foam Corporation
By Type –
Expanded Polypropylene (EPP) Foam
Extruded Polypropylene (XPP) Foam
By Applications –
Automotive
Packaging
Consumer Products
Construction
Others
By Regions –
North America
Europe
Asia Pacific
Lation America
Middles East & Africa