NEW YORK, Nov. 2, 2016 /PRNewswire/ -- "Light weight and shock absorption properties of expanded polypropylene foam expected to drive the market"
The global expanded polypropylene (EPP) foam market is estimated to reach USD 1,525.1 million by 2021, at a CAGR of 11.41% from 2016 to 2021. The market is driven by the increasing penetration of expanded polypropylene foam in automobiles for weight reduction and in the packaging application due to its light weight and shock absorption properties. Volatility in raw material prices directly impact the prices of expanded polypropylene foam, which acts as a restraint for the market.
"Porous PP is the fastest-growing type in the expanded polypropylene foam market"
Porous expanded polypropylene foam is in the form of cylindrically shaped propylene beads. This foam has a ten times greater capacity to absorb sound and vibrations than the other grades of expanded polypropylene foam. This foam is highly durable, has high structural integrity, and helps in noise reduction due to its porous structure. JSP Corporation (Japan) is the market leader in the porous expanded polypropylene foam market. Automobile manufacturers are focusing on increasing the use of this foam in automobiles due to its unique properties.
"Rising demand from end -users in Asia-Pacific is the key driver of the global expanded polypropylene foam market"
The Asia-Pacific region is the fastest-growing market for expanded polypropylene foam, in terms of both, value and volume. High growth rate, growing purchasing power, developing infrastructure, increasing demand from end-use industries, and the global shift in production capacity from developed markets to emerging markets are the major factors leading to the growth of the expanded polypropylene foam market in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted. The breakdown of primary interviews is given below.
- By Company Type - Tier 1 – 56%, Tier 2 – 33%, and Tier 3 – 11%
- By Designation - C level – 45%, D level – 33%, and Others – 22%
- By Region - North America – 28%, Europe – 22%, Asia-Pacific – 20%, South America– 13%, and the Middle East & Africa – 17%
The key companies profiled in this market research report are JSP Corporation (Japan), BASF SE (Germany), Hanwha Corporation (South Korea), Kaneka Corporation (Japan), Furukuwa Electric Co., Ltd. (Japan), DS Smith Plc (U.K.), The Woodbridge Group (Canada), SSW Pearl Foam GmbH (Germany), Sonoco Products Company (U.S.), and Dongshin Industry Inc. (South Korea).
The report covers the consumption of expanded polypropylene foam across different applications and regions. It aims at estimating the market size and future growth potential of this market across different segments such as type, application, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analyses, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenues for the overall expanded polypropylene foam market and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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