Published: 2023 May 09

Extruded Polypropylene (XPP) Foam Market Demand, Size, Competitive Landscape and Market Forecast 2023-2030

SKU : CH2020
excelpdfpowerpoint
180 pages
Report Summary
Table of Contents
List of Tables & Figures

Global Extruded Polypropylene (XPP) Foam Market is segmented By Type (Low-Density, High-Density), By End-use Industry (Automotive, Packaging, Building & Construction, Electrical & Electronics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

 

Extruded Polypropylene (XPP) Foam Market Overview

The Global Extruded Polypropylene (XPP) Foam Market is expected to grow at a CAGR of 8.0% during the forecasting period (2023-2030). Extruded Polypropylene (XPP) foam sheets, having unique closed cell structure, with expansion ranging from 2 to 5 times by foam extrusion. The material has a wide range of features offering a better alternative to plywood, cardboard, corrugated plastic, solid PP or HDPE sheet.

 

Extruded Polypropylene (XPP) Foam Market Summary and Scope

Metrics

Details

Market CAGR

8.0%

Segments Covered

By Type, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

 

Extruded Polypropylene (XPP) Foam Market Dynamics and Trends

The increasing demand for XPP foam from the automotive end-use industry is expected to drive the growth of the XPP foam market

The global automobile industry is showing a strong growth due to the increasing demand for vehicles. According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2019, the total number of passenger cars and heavy trucks produced were 67,149,196 and 4,142,806 respectively. Hence, with the rising demand for vehicles, there is a rise in the demand for XPP foam which has a positive impact on the growth of the market.

Electric vehicles sales continue to grow rapidly. In 2018, the global electric car fleet exceeded 5.1 million, which has advanced by 2 million from 2017, almost doubling the number of new electric car registrations. According to the International Energy Agency (IEA), in 2019, over 7.2 million electric cars were sold in the world, with countries like Norway, China, and the US dominating the global EVs market in terms of market share. Government policies continue to have a major influence on the development of electric vehicles. Further technological advancements, investments flow for the electric vehicle infrastructure development and price reductions of electric vehicles are driving the electric vehicles sales. Consequently, the global extruded polypropylene foam market is also benefiting due to it.

COVID-19 Impact Analysis on Extruded Polypropylene (XPP) Foam Market

The COVID-19 pandemic has disrupted the global economy and halted the key processes of almost all companies. Therefore, even the global extruded polypropylene (XPP) foam market suffered due to it. The disturbances in supply chain management and transportation of goods and services had a negative impact on the growth of the market. Many manufacturing and production units were disrupted due to the government enforced lockdowns and curfews across the world which led to losses and wastage of many products. The automobile industry, in which aluminium extrusion is extensively used, also faced losses during the pandemic. Halted production of raw materials affected the production of vehicles. The pandemic also significantly changed the consumer demand and behaviour. Consumers refrained from purchasing non-essential products amid the pandemic thereby impacting the sales of extruded polypropylene foam products. The uncertain and unexpected situation caused by the pandemic significantly impacted the market hence, slowing its growth. However, the post-pandemic scene has improved and the global extruded polypropylene foam market has recovered. The market is set to grow at a high rate.

Extruded Polypropylene (XPP) Foam Market Segmentation Analysis

By type, the extruded polypropylene (XPP) foam market is segmented into low density, and high density

Low density type XPP foam is expected to grow with high CAGR rate in the forecast period. The low-density XPP foam market growth is driven by the increasing demand from automotive, protective packaging, and insulation applications. Low density XPP foams possess a wide range of mechanical properties, high heat stability and good chemical resistance. Moreover, these materials are fully recyclable, owing, to which this grade of XPP foams are widely used in packaging industry. The automotive industry dominates the consumption of low-density XPP foam. The use of low-density XPP foam in automotive applications helps in impact protection and weight reduction of vehicles.

High density type XPP foam is also projected to grow at a high CAGR as it is used in the automobile industry due to its lightweight, durability and recyclability. It is also used in the packaging industry because of it helps in protecting the products form any kind of impact.

By end use industry, the extruded polypropylene (XPP) foam market is segmented into automotive, packaging, building & construction, & electrical & electronics

Automotive application XPP foam is expected to grow with the highest CAGR rate during the forecast period. In automotive applications, lightweight foam solutions are helping to improve vehicle performance and fuel efficiency. With increasing pressure for end-of-life vehicle recycling, mono-material solutions are being sought and, with XPP becoming a preferred polymer, recyclable foamed XPP solutions will be in great demand.

XPP foams have an excellent moisture barrier and chemical resistance which are important for durability and functionality in the presence of hot oil, grease or fuel. Its high heat stability also opens the possibility for under the bonnet applications. XPP foams also have very good cushioning properties, thereby contributing to improved driver and passenger safety.

Extruded Polypropylene (XPP) Foam Market Geographical Share

The global extruded polypropylene (XPP) foam market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa based on the region

The extruded XPP foam market is projected to grow at a higher rate in the Asia Pacific region compared to the other regions. Owing to the growth in automotive, packaging, building & construction, and electrical & electronics in Asia Pacific region extruded polypropylene foam market is set to witness high demand from this region.

The leading national markets for XPP foams in the Asia Pacific region are India, China, Japan and South Korea. In January 2019, KIA motors initiated the car production at the newly constructed car manufacturing facility with an annual production capacity of up to 300,000 units in South Korea. Maruti Suzuki India plans to increase its capacity to 0.75 million units at its unit in Gujarat plant by 2020, taking the total capacity to over 2.25 million units a year.

Due to the growing population, improving economies and rising middle-class income levels, investments flow into the region to further propel the development of automotive and construction industry in the region. Whereas booming e-commerce will drive packaging and hence XXP foams demand in the region.

Extruded Polypropylene (XPP) Foam Companies and Competitive Landscape

The Extruded Polypropylene (XPP) Foam market is moderately competitive with existing players in the market. Some of the major players include Borealis AG, Mitsui Chemicals, Inc, BASF SE, Sekisui Voltek, LLC, Sonoco Products Company, DS Smith Plc, NMC SA, Pregis LLC, Zotefoams Plc, Pacific Industry Co, Ltd.

Companies are focusing to extend their market shares worldwide by setting up new production facilities in growing markets. The companies enter into collaborations, mergers, strategic partnerships, and acquisitions to increase extruded XPP foam's demand and expansion across the globe. The companies are also investing to increase their production capabilities around the globe

For instance, in June 2018, Toray Industries decided to establish a new base in India for its polypropylene (XPP) foam for hygiene materials business. In September 2019, Mitsui Chemicals, Inc. collaborated with Kaisei Inc. to commercialize bio-polypropylene (bio-PP) to recycle plastic and other resources in support of a carbon-free society and reduce greenhouse gas (GHG) emissions. This is a major breakthrough in the extruded polypropylene foam market as this innovation will be readily adopted by several countries without any environmental concerns and will help in the growth of the market.

Borealis AG

Overview: Borealis AG is an Austrian chemical company. It is one of the world's largest producer of polyethylene (PE) and polypropylene (PP).

Product Portfolio: Its products include polyolefins, hydrocarbons, base chemicals, fertilizers, etc.

Key Developments: In April 2020, Borealis AG and NOVA Chemicals Corporation announced that Borealis has completed the acquisition of NOVA Chemicals’ 50% ownership interest in Novealis Holdings LLC.

Buy this report
Single User
$4350$3480
Multiple User
$4850$3880
Enterprise User
$7850$6280
Proceed to Buy
FAQ’s
What is the Projected CAGR value of the Extruded Polypropylene (XPP) Foam Market?
Extruded Polypropylene (XPP) Foam Market is expected to grow at a CAGR of 8.0% during the forecasting period 2023-2030.
Which is the fastest growing region in the Extruded Polypropylene (XPP) Foam Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period.
Related Reports
materials

Polyurethane Foam Market Size, Share, Trends, Outlook, Growth Opportunity and Market Forecast 2023 - 2030

Published: 2023 March 20
Starting from

$4350

materials

Spray Polyurethane Foam Market Size, Competitive Landscape and Market Forecast - 2029

Published: 2023 January 04
Starting from

$4350

materials

Rigid Polyurethane Foam Market Size, Competitive Landscape and Market Forecast - 2029

Published: 2022 December 22
Starting from

$4350

chemicals

India Polyurethane Foam Market Size, Competitive Landscape and Market Forecast - 2029

Published: 2022 September 28
Starting from

$4350

chemicals

Flexible Polyurethane Foam Market Size, Competitive Landscape and Market Forecast - 2029

Published: 2021 December 03
Starting from

$4350

materials

Polyurethane Market Size, Competitive Landscape and Market Forecast - 2030

Published: 2023 April 24
Starting from

$4350