USD 2.03 billion
Expanded Polypropylene Market Size, Share, Growth Analysis, By Product Type(High Density and Low Density), By Application(Automotive, Packaging, Consumer Goods, and others.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2537 |
Region:
Global |
Published Date: May, 2024
Pages:
184
|Tables:
62
|Figures:
75
Expanded Polypropylene Market Insights
Global Expanded Polypropylene Market size was valued at USD 2.03 billion in 2022 and is poised to grow from USD 2.17 billion in 2023 to USD 3.46 million by 2031, growing at a CAGR of 6.90% during the forecast period (2024-2031).
This rise in the EPP market is due to its usage in not only automotive sector but also various other sectors such as packaging, consumer goods, construction and many more. Expanded polypropylene (EPP) foam shows a strong preference for the usage of high-impact resistance for delicate goods like computer equipment and circuit boards in non-food packaging applications.
The automotive industry holds a significant market share due to its excellent energy absorption and lightweight properties and are widely used in automotive applications such as bumpers, dashboards, door panels and headrests. One key driver behind the expansion of EPP in the automotive sector is the rising popularity of EVs due to which the automakers are actively pursuing lightweight materials to improve energy efficiency and extend the driving range of EVs. Moreover, EPP's capacity to absorb impact energy positions it as an ideal choice for improving passenger safety during collision. This dual advantage of better safety solutions and lightweight properties aligns with the automotive industry's emphasis on safety and efficiency, leading to the widespread integration of EPP in various vehicle components.
Also. Apart from automotive sector, there is an increasing demand for lightweight and sustainable packaging solutions, which is driven by the focus on environmental sustainability.
Another major trend in the EPP market is the ongoing advancements in manufacturing processes and material innovations. Manufacturers are heavily investing in R&Ds to enhance the properties of EPP and improve production efficiency. A key focus area is the development of flame-retardant EPP materials to meet strict safety regulations in industries like construction, electronics, and aerospace as these materials offer better fire resistance while retaining the desirable characteristics of EPP. Additionally, manufacturers are exploring sustainable and bio-based alternatives to traditional polypropylene. By combining renewable resources, like bio-based polypropylene, into EPP production, companies are aiming to reduce their environmental impact and offer more environmentally friendly solutions to customers. All these factors are likely to grow the expanded polypropylene foam market globally in the upcoming years.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
High Density
Fastest Growth
Low Density
Growth Rate
6.90% CAGR
Global Expanded Polypropylene Market ($ Bn)
Country Share for Asia-Pacific Region (%)
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Expanded Polypropylene Market Segmental Analysis
The Global Expanded Polypropylene Market is segmented by product type, application and region. Based on product type, the market can be segmented into high density and low density. Based on application, the market is segmented into automotive, packaging, consumer goods and others. And lastly, based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Product Type
Based on product type, the global expanded polypropylene market is segmented into high density and low density. The high-density segment dominated the market and accounted for more than 42.0% of the total market share in 2022 in terms of revenue. The demand for high-density expanded polypropylene (EPP) foams has increased in the coming years, due to their usage in energy management systems such as vehicle bumpers, side tails, and safety components. As there is a growing preference for lightweight and premium products, the consumption of high-density EPP foam is projected to rise in the forecast period. Moreover, the rising demand for EVs and hybrid cars will further drive the use of light and chemically stable materials for auto components. Rising disposable income and changing lifestyles, in countries such as India, China, and Indonesia, are factors contributing to the increased production of automobiles, which is likely to have a positive impact on the growth of the automotive industry. All these factors are expected to drive the high-density EPP foam segment in the region over the forecast period.
Whereas the light-density expanded polypropylene foams are also experiencing significant growth at faster rate due to several key factors. Firstly, their cost-effectiveness makes them appealing for applications where budget considerations are crucial. Also, new manufacturing techniques has created a wider range of uses including consumer goods and sporting equipment. With the increasing demand for sustainability, they act as an eco-friendly solution. Moreover, their lightweight properties meet the growing preference for materials that offer high performance without adding unnecessary weight, particularly in industries like aerospace and automotive. Lastly, continuous technological developments continue to enhance the properties and performance of light-density EPP foams, further fuelling their rapid growth across various applications and industries.
Analysis by Application
Based on application, the global expanded polypropylene market is segmented into automotive, packaging, consumer goods and others.
The automotive segment is considered as the largest segments in the global expanded polypropylene market. This is because EPP is extensively used in automotive applications for various components due to its excellent combination of properties and energy absorption capabilities. EPP is used in automotive components such as bumpers, door panels, headrests, instrument panels, and energy absorbers due to its impact resistance and lightweight nature.
The packaging segment is growing at a faster rate. With the increasing emphasis on sustainability and the growing e-commerce industry, there has been a surge in demand for lightweight, protective packaging solutions. Expanded polypropylene offers excellent cushioning properties, shock absorption, and durability, making it an attractive choice for packaging fragile items such as electronics, automotive parts, and consumer goods. Additionally, advancements in EPP manufacturing techniques have enabled the production of customized packaging solutions tailored to specific product requirements, further driving growth in this segment.
Global Expanded Polypropylene Market By Product Type
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Expanded Polypropylene Market Regional Insights
Based on the geography, the global Expanded Polypropylene market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
Asia Pacific emerged as the dominant force in the global Expanded Polypropylene (EPP) market in 2022, commanding over 40.0% of the total market revenue share. This dominance majorly due to the rapid growth experienced by the consumer goods and electronics manufacturing industries in countries like China, India, and Japan. Factors like rapid industrialization, abundant raw materials, and a readily available labour force caters to the region's growing market. Furthermore, initiatives by the Chinese government to drive digitalization are expected to boost the television industry, thus increasing the demand for EPP market. The surge in sales of household electronics such as refrigerators, televisions, and microwave ovens also help in the market growth in this region, particularly in the consumer goods segment. Especially, China's Expanded Polypropylene market holds the largest market share, while India's Expanded Polypropylene market emerges as the fastest-growing market in the Asia-Pacific region. Additionally, the packaging industry is also driven by the expanding e-commerce sector, contributes significantly to the demand for EPP packaging solutions across the region.
In 2022, North America secured a significant revenue share of 29.0%, driven by the region’s expanding end-user industries in the United States and Canada. The region's growth is notably spurred by its developing automotive sector, which heavily relies on expanded polypropylene for various interior components, bumper systems and energy absorption materials. The U.S. automobile industry's shift towards fuel-efficient and electric vehicles has catalysed numerous breakthroughs and technological advancements, amplifying consumer demand for high-end electric vehicles. This trend has led to a preference for chemically stable EPP foams over alternative materials, especially for high-performance auto parts. Moreover, the rising demand for sustainable packaging solutions and the increasing adoption of EPP in consumer goods manufacturing contribute significantly to market growth in North America.
Global Expanded Polypropylene Market By Region
- Largest
- Fastest
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Expanded Polypropylene Market Dynamics
Drivers
Growing Automotive Industry
- EPP foams are widely used in automotive applications since they are lightweighted, absorbs energy very well as well as has thermal insulation qualities. Therefore, EPP is anticipated to be in high demand for various usage including car interiors, packaging and impact protection due to the expansion of automotive sector, especially in regions like Asia-Pacific, North America and Europe.
Shift towards Sustainable Packaging Trends
- Due to growing environmental concerns has given a push to the recyclable and reusable EPP foams market. It has driven the market towards sustainable packaging options. Therefore, the EPP market is projected to become more popular as sustainable packaging material as businesses and consumers prioritise.
Restraints
High Production Costs
- The production of the expanded polypropylene foams is very cost-intensive process as it requires specialised equipment. This requires a high initial investment cost which can restraint the market expansion particularly for the smaller producers of for those in developing regions.
Environmental Concerns
- Despite being recyclable and reusable as well as having less environmental effects then other foams. The EPP market is still possess a challenge to the environment and its demand can be impacted by intense search for waste management and plastic pollution particularly in the regions with strict environment policies.
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Expanded Polypropylene Market Competitive Landscape
The leading players in this market are heavily investing in research and development to spread out their product portfolios and help in the industry's growth. These market players are engaging in various strategic initiatives aimed at expanding their market presence, including launching new products, forming contractual agreements, pursuing mergers and acquisitions, increasing investments, and collaborating with other organizations. To thrive and remain competitive in a dynamic and evolving market landscape, the expanded polypropylene industry is compelled to offer cost-effective solutions. A prominent business strategy employed by manufacturers in the global EPP industry involves local manufacturing to minimize operational costs, thereby benefiting clients and expanding market share. Additionally, the expanded polypropylene industry has witnessed notable advancements in recent years.
Top Player’s Company Profiles
- JSP Corporation (Japan)
- BASF SE (Germany)
- Kaneka Corporation (Japan)
- DS Smith Plastics (UK)
- Hanwha Solutions (South Korea)
- Sonoco Products Company (US)
- Dongshin Industry Co., Ltd. (South Korea)
- Furukawa Electric Co., Ltd. (Japan)
- Knauf Industries (France)
- Pregis LLC (US)
- Sekisui Alveo AG (Switzerland)
- Braskem SA (Brazil)
- The Woodbridge Group (Canada)
- Zotefoams Plc (UK)
- BASF Styrenics Pvt. Ltd. (India)
- SSW PearlFoam GmbH (Germany)
- JSP International (France)
- Plymouth Foam (US)
- Pactiv LLC (US)
- SABIC (Saudi Arabia)
Recent Developments
- In January 2022, by using almost entirely recycled materials, JSP developed ARPRO Revolution. This product has the lowest carbon impact, perfect for non-technical furniture, leisure, and packaging applications.
Expanded Polypropylene Key Market Trends
- Cost-effective solutions are becoming more important in the EPP market, as industries strive to optimize production costs while maintaining product quality. This includes innovations in manufacturing processes, such as local production facilities, to reduce operational expenses and offer competitive pricing.
- While automotive remains a key application area for EPP, there is a growing trend of expanding its usage into other industries such as consumer goods, electronics, healthcare, packaging and construction. EPP's versatility, lightweight nature, and impact resistance make it suitable for a wide range of applications beyond traditional sectors.
Expanded Polypropylene Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global expanded polypropylene market analysis, factors like rapid industrialization, abundant raw materials, and a readily available labour force caters to the region's growing market. While the North America is anticipated to be the fastest growing region due to its developing automotive sector, which heavily relies on expanded polypropylene for various interior components, bumper systems and energy absorption materials. One of the major challenges in this market is the high production cost which requires high amount of initial investments which can hinder the market expansion for smaller manufacturers. Although, EPP foams are environmentally friendly when compared to other foam materials, it still possesses a challenge to the environment. Therefore, businesses are trying to develop more environmentally solution that will be more sustainable while maintaining its cost competition.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.03 billion |
| Market size value in 2031 | USD 3.46 million |
| Growth Rate | 6.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Expanded Polypropylene Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Expanded Polypropylene Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Expanded Polypropylene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Expanded Polypropylene Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Expanded Polypropylene Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Expanded Polypropylene Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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