The latest industry analysis report offers in-depth information regarding the key segments and sub-segments of the global Polypropylene Foam industry and emphasizes the current pandemic situation that has significantly disrupted the industry’s growth trend. Key dynamics impacting market growth include drivers, restraints, opportunities, supply & demand ratios, emerging market trends, technological innovations, and value chain analysis. 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.
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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.
Some Key Highlights From the Report
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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)
Application Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
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