The market research report, entitled Extruded Polypropylene Foam Market shows good possibilities in the Extruded Polypropylene Foam Market during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges, and key players in the market.
Global Extruded Polypropylene Foam 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.
Extruded Polypropylene Foam Market Segmentation:
The report segments based on demographics, geographics, benefits, volume, etc, have different driving factors and identify the most attractive segments and sub-segments. Extruded Polypropylene Foam and other resources also allow companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.
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.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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Stratview Research
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About Stratview Research
Stratview Research is a global market intelligence firm helping its clients’ tract the ever-evolving market scenarios through customised and syndicated reports. The reports offered here are gathered with the help of our wide-ranging and reliable secondary sources and in-depth interviews with the linchpins within the market. Extrapolated through primary and secondary research, Stratview Research’s reports help you remain ahead of the curve by enabling you to understand the current market trends and challenges coming on your way. Our strong team of industry veterans and researchers assure high quality research and strategic insights that help companies worldwide in effective decision making.
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