Rising utilization of polypropylene foam in the automotive industry is a significant factor driving revenue growth of the polypropylene foam market

Market Size – USD 1.31 Billion in 2020, Market Growth – at a CAGR of 6.0%, Market Trends – Advancements in the Polypropylene Foam

 The global Polypropylene Foam Market size is expected to reach USD 2.07 Billion in 2028 and register a CAGR of 6.0% over the forecast period, according to the latest report by Reports and Data. Rapid global polypropylene foam market revenue growth can be attributed to increasing utilization of polypropylene foam in the automotive industry owing to flexibility and lightweight properties. The excellent energy absorption and high strength properties of polypropylene foams is contributing to growing demand in the automotive industry. Expanded polypropylene foam in the automotive industry is due to enhance fuel consumption and reduce overall weight of vehicles. Increasing adoption of recyclable automotive parts in order to minimize environmental degradation is another factor expected to support market growth going ahead.

Increasing disposable income among consumers is driving demand for electric cars globally. Rising sales of electric cars is also promoting growth of the polypropylene foam market as the material plays a significant role in the production of thermally insulated and lightweight electric cars. Automotive manufacturers are increasingly investing in improving energy management functions whilst reducing vehicle weight and environmental impact caused by VOCs. Low emission of polypropylene foams help in minimization of VOC emissions from interior components in vehicles. Moreover, the high shock-absorbing performance of expanded polypropylene foam is boosting its utilization in the automotive industry in order to enhance passenger safety. Manufacturers of polypropylene foam are increasingly investing in development and production of automotive exterior components produced from expanded polypropylene foams. Applications of polypropylene foam include bumpers, seating, door panels, stowage systems, floor levelers, pillars, head rests, parcel shelves, sun visors, tool kits, and myriad filler parts.

Major players in the market include JSP Corporation, BASF SE, Kaneka Corporation, Hanwha Corporation, Mitsui Chemicals, Borealis AG, The Furukawa Electric Co., Ltd., Sonoco Products Company, DS Smith plc, and The Woodbridge Group.

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Some Key Highlights From the Report

• In April 2021, Borealis and Sulzer announced the launch of a new polypropylene foam extrusion technology enabling increased efficiency and lower cost across the value chain. The new product is expected to cut manufacturing costs by up to 60%. According to Borealis, the innovation will further drive adoption of the company’s polypropylene foam solutions.
• In April 2020, Borealis AG announced complete acquisition of NOVA Chemicals Corporation (NOVA Chemicals) 50% ownership interest in Novealis Holdings LLC. The acquisition is expected to support the company in meeting customer demand and to strengthen its position in the market in North America.
• Expanded Polypropylene (EPP) Foams segment is expected to account for largest revenue share in the global polypropylene foam market over the forecast period. The ability of expanded polypropylene foam to sustain multiple impacts whilst retaining its shape is expected to drive its demand in automotive and packaging industries.
• Automotive segment is expected to register robust revenue growth over the forecast period. Rising demand for electric cars globally is driving increasing demand for and usage of polypropylene foam as the material is lightweight, provides outstanding energy absorption characteristics, and enhanced thermal insulation properties.
• The polypropylene foam market in Asia Pacific is expected to account for largest revenue share over the forecast period, attributed to rising disposable income among consumers in developing countries, which is supporting growth of packaging and automotive industries in countries in the region.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/polypropylene-foam-market

For the purpose of this report, Reports and Data has segmented the global polypropylene foam market based on type, application, and region:

Type Outlook (Revenue, USD Billion; 2018-2028)

• Extruded Polypropylene (XPP) Foams
• Expanded Polypropylene (EPP) Foams

Application Outlook (Revenue, USD Billion; 2018-2028)

• Packaging
• Automotive
• Consumer Products
• Others

Regional Outlook (Revenue, USD Billion; 2018-2028)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Table of Content:

Highlights of the TOC:

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Polypropylene Foam Market Segmentation & Impact Analysis
    4.1. Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
          4.2.3. Market restraints analysis
    4.3. Technological Insights
    4.4. Regulatory Framework
    4.5. ETOP Analysis
    4.6. Porter’s Five Forces Analysis
    4.7. Competitive Metric Space Analysis
    4.8. Price trend Analysis
    4.9. Customer Mapping
Chapter 5. Competitive Landscape
    5.1. Market Revenue Share By Manufacturers
    5.2. Manufacturing Cost Breakdown Analysis
    5.3. Mergers & Acquisitions
    5.4. Market positioning
    5.5. Strategy Benchmarking
    5.6. Vendor Landscape

Continue……

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