The global expanded polypropylene foam market size was valued at USD 984.04 million in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 11.24% from 2023 to 2030. This growth is owing to the usage of products in wide applications including packaging, consumer goods, building and construction, and others. Expanded polypropylene (EPP) foam shows a strong preference for the usage of high-impact resistance for delicate goods like computer equipment and circuit boards in non-food packaging applications. Owing to the increasing attention of consumers to their physical health, the usage of expanded polypropylene (EPP) foam in toys and sporting products is anticipated to increase. These factors are likely to boost the expanded polypropylene foam market globally in the forecast period.
Numerous breakthroughs and technological advancements have been made as a result of the U.S. automobile industry's shift in focus toward electricity-powered and fuel-efficient vehicles, which has led to an increase in consumer demand for high-end electric vehicles. The widespread usage of high-performance materials for auto parts as a result of the rising demand for fuel-efficient vehicles has encouraged the use of chemically stable EPP foam rather than the alternatives that are now available.
High-density EPP foam products find numerous applications in car interiors, including NVH reduction, acoustic insulation, passenger safety, energy absorption, and comfort owing to the improved chemical, especially mechanical properties of the material. The growing U.S. automotive industry is expected to drive the demand for EPP foam over the forecast period.
The demand for expanded polypropylene foam in consumer goods is expected to witness significant growth during the forecast period accounting for the growing demand for consumer electronics and household appliances in the country. In addition, the presence of key electronics manufacturers such as Apple Inc., Samsung, and IBM, among others, strengthens the demand for consumer electronics, which, in turn, is expected to drive the growth of the consumer goods industry.
The bumpers application segment dominated the market and accounted for more than 42.0% of the total market share, in terms of revenue, in 2022 owing to the increasing usage of EPP foam in automotive end-use. The market is projected to increase as a result of the rising need for high-impact resistant packaging solutions for automotive interior and exterior equipment.
EPP foams are used to provide a smooth and long-lasting finish along with high resistance to chemical and UV exposure. The high resistance nature of EPP foam has led to the increased usage of EPP foams product being used in the construction industry for the production of various parts such as roof pillars, ceilings, and others.
Population growth and demographics that are conducive to manufacturing are two factors that are anticipated to drive the global market for EPP foam in the building sector. Products made using ABS are corrosion-resistant and more durable than EPS and it is therefore used to manufacture food containers and other materials. These advantageous properties are anticipated to augment demand for EPP foam in various applications including bumpers, seat bracing, roof pillars, armrests, and others.
The high-density segment dominated the market and accounted for more than 42.0% of the total market share, in terms of revenue, in 2022. High-density expanded polypropylene foams are used for energy management systems like bumpers, side tails, and safety parts of vehicles. They are also used in industrial packaging applications due to their strength against impacts. With the increasing consumption of lightweight and premium products, the demand for high-density expanded polypropylene (EPP) foam is expected to rise over the forecast period.
Additionally, rising demand for electric and hybrid cars at a global level is likely to propel the use of light and chemically stable materials for auto components. Rising disposable income and changing lifestyles, in countries such as India, China, and Indonesia, are factors contributing to the increased production of automobiles, which is likely to have a positive impact on the growth of the automotive industry. The aforementioned factors are expected to drive the high-density EPP foam segment in the region over the forecast period.
Asia Pacific dominated the EPP foam market in 2022 and accounted for more than 40.0% of the overall market revenue share. Consumer goods and electronics manufacturing industries in China, India, and Japan are experiencing rapid growth owing to rapid industrialization, availability of raw materials, and easy availability of labor. These factors are expected to propel the demand for EPP foam during the forecast period.
The consumer goods segment is driving the demand for medium-density EPP foam. China has witnessed tremendous growth in the sales of TV sets owing to rising viewership. In addition, the Chinese government has been pushing for digitalization, which will assist in the development of the TV industry as a whole. The growing demand for household electronics such as refrigerators, televisions, and microwave ovens is likely to augment the market growth of EPP foam in this region.
North America accounted for a revenue share of 29.0% in 2022 owing to growing end-user industries in the U.S. and Canada. Numerous breakthroughs and technological advancements have been made as a result of the U.S. automobile industry's shift in focus toward fuel-efficient vehicles and electricity-powered, which has led to an increase in consumer demand for high-end electric vehicles. The widespread usage of high-performance materials for auto parts as a result of the rising demand for fuel-efficient vehicles has encouraged the use of chemically stable EPP foam rather than the alternatives that are now available.
Germany is expected to witness the fastest growth during the forecast period owing to the presence of automotive giants such as MAN Trucks, Daimler AG, Volkswagen AG, and BMW AG. In addition, the rapidly emerging consumer goods industry in major economies such as Germany, France, Spain, and Russia is expected to propel the demand for expanded polypropylene foam over the analysis period.
Major players are continuously working on developing polymers for the production of EPP foam owing to the rising demand for EPP components from the appliances and automotive industry. For instance, In January 2022, With nearly 100% recycled material, JSP created ARPRO Revolution. This product is ideal for non-technical uses like furniture, leisure, and packaging because it has the lowest carbon footprint.
A majority of the global companies are expected to increase their polymer offerings to Asia Pacific, Central & South America, and the Middle East & Africa owing to high market growth potential in these regions given the expansion of the EPP foam market. Some of the prominent players in the EPP foam market include:
FURUKAWA ELECTRIC CO., LTD.
Sonoco Products Company
DONGSHIN INDUSTRY INCORPORATED
Clark Foam Products Corporation
Paracoat Products Ltd.
Molan-Pino South Africa
Signode Industrial Group LLC
Market size value in 2023
USD 1.05 billion
Revenue forecast in 2030
USD 2.3 billion
CAGR of 11.2% from 2023 to 2030
Base year for estimation
2018 - 2021
2023 - 2030
Volume in kilotons, revenue in USD Million, and CAGR from 2023 to 2030
Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends
Product, application, region
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
U.S.; Canada; Mexico; Germany; France; U.K.; Italy; China; India; Japan; Brazil; Argentina; GCC Countries; South Africa
Key companies profiled
JSP; BASF SE; KANEKA CORPORATION; DS Smith; FURUKAWA ELECTRIC CO. LTD.; Hanwha Group; Sonoco Products Company; Knauf Industries; Izoblok; DONGSHIN INDUSTRY INCORPORATED; Clark Foam Products Corporation; Paracoat Products Ltd.; Molan-Pino South Africa; Signode Industrial Group LLC; Armacel
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This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2022 to 2030. For this study, Grand View Research has segmented the global expanded polypropylene foam market report based on product, application, and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Central & South America
Middle East & Africa
b. The global expanded polypropylene foam market size was estimated at USD 984.04 million in 2022 and is expected to reach USD 1,059.0 million in 2023.
b. The global expanded polypropylene foam market is expected to grow at a compound annual growth rate of 11.2% from 2023 to 2030 to reach USD 2,306.54 million by 2030.
b. The high-density product segment led the global EPP foam market and accounted for the highest revenue share of more than 42% in 2022.
b. The Bumpers application dominated the global EPP foam market with a share of over 42% in 2022 due to the rising demand for lightweight vehicles.
b. Asia Pacific dominated the overall global EPP foam market accounting for a revenue share of over 40% in 2022.
b. Some key players operating in the EPP foam market include JSP Corporation; BASF SE; Kaneka Corporation; DS Smith plc; Furukawa Electric Co., Ltd.; Hanwha Corporation; Sonoco Products Company; and Armacell International S.A.
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