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

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).

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 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. '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)'

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.

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.

Based on the geography, the Expanded Polypropylene market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.