The market research report on the Extruded Polypropylene Foam Market aims to help the users discover detailed information regarding trends in the market. The report also throws light on the overview of the thorough analysis of the correlated key players active in the market, covering their competitive landscape, supply chain analysis, and latest developments like investments, expansion, technological growth, etc.

Market Forecast:

The extruded polypropylene foam market was estimated at USD 681.5 million in 2021 and is likely to grow at a CAGR of 7.68% during 2022-2028 to reach USD 1151.78 million in 2028.

The mounting demand for extruded polypropylene foam from the automotive end-use industry is expected to propel the growth of the global market during the forecast period.

What is extruded polypropylene foam?

Extruded polypropylene foam is a kind of plastic form that is known for its environment-friendly nature. They are available in low-density extruded polypropylene foam form as well as high-density extruded polypropylene foam form.

Though automotive is the main application area of extruded polypropylene foam, there are also other areas where it is used such as packaging, building & construction, and others.

Here are the key-players mentioned in the report –

• BASF SE
• Braskem
• DS Smith
• Furukawa Electric Co., Ltd.
• JSP Corporation
• Mitsui Chemicals
• NMC SA
• Pregis
• Toray Industries, Inc.

Segment Analysis:

Market segmentation included in this report divides the Extruded Polypropylene Foam Market into subgroups based on demographics, needs, priorities, shared interests, and other behavioral characteristics that help to better understand the target audience. The user can be from benefitted by using this targeting in product, sales, and marketing strategies.

As per the report, the market is segmented by:

Based on the type, the market is segmented as low-density extruded polypropylene foam (40-200 Kg/M3) and high-density XPP foam (200-600 Kg/M3). The low-density type segment held the larger share of the market in 2021. The low-density extruded polypropylene foam segment leads the market driven by the growing demand from protective packaging, automotive, and insulation applications. The automotive industry commands the consumption of low-density XPP foam. The use of low-density XPP foam in automotive applications aids in the weight reduction of vehicles and impact protection.

Based on the end-use industry type, the market is segmented as automotive, packaging, building & construction, and others. The automotive segment accounted for the largest share of the market in 2021 and is expected to continue its dominance during the forecast period as well. There is a high demand for extruded polypropylene foam in the automotive and packaging end-use industries. The automotive end-use industry governs the complete extruded polypropylene foam market.

In terms of regions, Asia-Pacific occupied a major chunk of the overall market in 2021 and is estimated to maintain this trend during the forecast period. The dominance of the region is corroborated by the rapid economic growth and growth of packaging, automotive, building & construction, and other end-use industries in the region. Rapid industrialization blended with the enhanced standard of living also positively impacts the growth of the market in the region.

Furthermore, the increasing disposable income in Asia-Pacific along with the high growth of the emerging economies makes it an attractive market for various end-use industries, and subsequently the XPP foam market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

COVID-19 IMPACT

The coronavirus pandemic affected almost all the sectors of the economy in 2020. Many businesses across the globe saw their supply chains interrupted, demand for their products and services decline, scarcities in supplies and inputs, etc.

While the majority of organisations had to face losses due to the pandemic, there are a few that have remained stable during this period and are projected to expand gradually in the future. The study on the Extruded Polypropylene Foam Market by Stratview Research provides a sneak peek into its business success in 2020 to upcoming 5 years.

Sneak peek into the Report:

This report focuses on the various types, segments, and growth in the Extruded Polypropylene Foam Market. It offers valuable insights into business dynamics and allows current and potential market participants to make strategic decisions.

The report also benchmarks the major parameters like -

• Industry Outlook
  • Market Segmentation & Value Chain Analysis
  • Industry Dynamics
  • Drivers
  • Restraints
  • Growth Opportunities
  • Regional Outlook
  • Country-level Analysis
  • Competitive Landscape
  • Company Market Share Analysis
  • Key Company Profiles/ Market Players

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