Mar 26, 2020   SOURCE: BusinessWire

Global Expanded Polypropylene (EPP) Foam Market (2019 to 2025) - Players Profiled Include JSP, Kaneka & Hanwha Chemical Among Others - ResearchAndMarkets.com

The "Expanded Polypropylene (EPP) Foam Market by Type (Low Density, High Density & Porous PP), Application (Automotive, Packaging, Consumer Products), and Region (North America, Europe, Asia-Pacific) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The EPP foam market is projected to grow from USD 1,253 Million in 2019 to USD 1,619 Million by 2024, at a CAGR of 5.3% between 2019 and 2024.

Recyclable & reusable properties, optimum performance, and low weight of EPP foam are driving the market. However, the manufacturers are facing challenges with regard to volatility in raw material prices.

The EPP foam market projected to witness the highest CAGR in Porous PP segment during the forecast period

Porous PP foam's shape helps to add air space, making these foams lightweight. These foams are good in impact protection, highly durable, have high structural integrity. They are mainly used in the automotive industry for noise and vibration reduction. Car interior is the major application of porous PP foams, which are mainly used in this application because of their characteristic of noise reduction.

Automotive is estimated to have the largest share of the overall EPP foam market during the forecast period.

Due to low cost, outstanding mechanical properties, and moldability, EPP foam is widely used in automotive parts. It helps in reducing vehicle weight up to 10%, allowing up to 7% fuel saving. It also helps in minimizing the release of VOCs from automotive interior parts. When EPP foam is additionally combined with metals, a greater amount of energy can be absorbed and distributed. These factors are supporting the trend of making eco-friendly vehicles.

APAC is estimated to dominate the global EPP foam market.

APAC accounted for the largest share of the global market, in terms of value, in 2019. The region is also projected to be the largest market between 2019 and 2024 due to China, India, and other booming economies in the region. It is projected to offer significant opportunities for vehicle manufacturers, and in turn, EPP foam manufacturers in the next five years.

Market Dynamics

Drivers

  • Recyclable & Reusable Properties of EPP Foam
  • Optimum Performance and Low Weight of EPP Foam

Restraints

  • Higher Price of EPP Foam Over Other Types of Foam
  • Volatile Raw Material Prices

Opportunities

  • Growing Demand for EPP Foam in End-Use Industries
  • Investments in Emerging Economies

Challenges

  • Less Awareness About EPP Foam

Company Profiles

  • JSP Corporation
  • Kaneka Corporation
  • Hanwha Chemical Corporation
  • BASF SE
  • Furukawa Electric Co., Ltd.
  • DS Smith Plc
  • Sonoco Products Company
  • Woodbridge
  • Automa Multi Styrene
  • Chemische Fabrik Budenheim Kg
  • Clark Foam Products
  • K. K. Nag Ltd.
  • Knauf Industries

For more information about this report visit https://www.researchandmarkets.com/r/hv2qxe