Extruded Polypropylene (XPP) Foam Market: Introduction
Expanded polypropylene (XPP) is a closed-cell bead foam that possess unique properties such as multiple impact resistance, thermal insulation, water and chemical resistance, high strength, and recyclability. As name indicates, extruded polypropylene foam is manufactured by extruding a mixture of a physical blowing agent, polypropylene resin, with high melting strength and elasticity and nucleating agent.
Extruded Polypropylene (XPP) Foam Market: Key Players
Large number of companies operate in the global extruded polypropylene (XPP) foam market. Prominent manufacturers in the extruded polypropylene (XPP) foam include JSP, Toray industries, BASF SE, Borealis, Mitsui Chemicals, DS Smith Plc, and SSW PearlFoam GmbH. Companies are focusing on innovation and strategic expansion in order to sustain in the intense competition. Toray and Borealis are planning to establish polypropylene manufacturing facilities in India and the U.S., respectively.
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Extruded Polypropylene (XPP) Foam Market: Segmentation
The global extruded polypropylene (XPP) foam market can be segmented based on density type and end-user industry type. Based on density type, the global extruded polypropylene (XPP) foam market can be segregated into high density and low density. Among these types, the low density segment is estimated to dominate the global extruded polypropylene (XPP) foam market during the forecast period. Low density extruded polypropylene foams are increasingly being utilized in major end-user industries such as automotive, packaging, and insulation.
In packaging, low density extruded polypropylene is employed in food packaging and other protective packaging. This is a major factor that is anticipated to propel the demand for extruded polypropylene foam during the forecast period. Based on end-user industry, the global extruded polypropylene (XPP) foam market can be classified into building construction, automotive, packaging, and others. The automotive segment is anticipated to dominate the global extruded polypropylene (XPP) foam market during the forecast period. In the automotive industry, extruded polypropylene foams are utilized for lightweight parts, especially for door liners and bumpers.
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Rise in production of lightweight parts in order to improve the efficiency of the vehicle is a major factor that is expected to boost the demand for extruded polypropylene (XPP) foam in the automotive industry. In the building construction industry, extruded polypropylene (XPP) foam are employed in interior works and housing. Demand for extruded polypropylene (XPP) foam in the automotive industry is expected to rise at a significant growth rate during the forecast period.
Extruded Polypropylene (XPP) Foam Market: Region-wise Outlook
Based on region, the global extruded polypropylene (XPP) foam market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. In terms of volume and value, Asia Pacific is expected to dominate the global extruded polypropylene (XPP) foam market during forecast period. Asia Pacific is a prominent automotive hub. Furthermore, it is a densely populated region and hence, the region witnesses a consistent rise in demand for building construction.
Rise in automotive demand coupled with increase in building construction activities is a major driver that is anticipated to propel the demand for extruded polypropylene foam in the region in the near future. In Asia Pacific, India and China were the two major countries that contributed to a majority share of the global extruded polypropylene (XPP) foam market in Asia Pacific. Extruded polypropylene foam Companies are planning to establish their facility in this region in order to cater to the increase in demand for extruded polypropylene foam for various end-user industries applications.
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After Asia Pacific, Europe is expected to be major region, followed by North America. The global extruded polypropylene (XPP) foam market in other regions, such as Latin America and Middle East Africa, is expected to expand at a sluggish pace during the forecast period.
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