Extruded Polypropylene (XPP) Foam Market to Cross US$ 2.05 Billion at a CAGR of 7.1% by 2034, States Fact.MR Report

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Jul 17, 2024, 06:30 ET

North America and East Asia to Remain Key Markets for Extruded Polypropylene (XPP) Foam: Fact.MR Report

ROCKVILLE, Md., July 17, 2024 /PRNewswire/ -- The global Extruded Polypropylene (XPP) Foam Market is projected to increase from a value of US$ 1.03 billion in 2024 to US$ 2.05 billion by the end of 2034. Fact.MR's updated market study reveals that the market has been forecasted to expand at a CAGR of 7.1% from 2024 to 2034.

XPP foam is a type of thermoplastic foam composed of polypropylene and is well known for having high-stress tolerance, sound absorption, and insulating qualities. In the automotive industry, XPP foam is utilized for seat cushioning, door panels, and dashboards.

Demand for extruded PP foam is set to be driven mainly by the automotive and construction sectors across the world. For construction and automotive end-use, XPP foam has the ideal characteristics of high-temperature and chemical resistance, high weight-to-strength ratio, and even recyclability and other appealing qualities. Building impact protection, acoustics, and insulation are other key end uses for XPP foam. It is also used in medical equipment, furniture, and packaging solutions.

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Key Takeaways from the XPP Form Market Study:

The global XPP foam market has been forecasted to expand at a CAGR of 7.1% to reach US$ 2.05 billion by the end of 2034.
The market in North America is projected to expand at a CAGR of 7.3% and offer an absolute opportunity of US$ 342.6 million by 2034.
East Asia accounts for 21.4% of the global market share in 2024 and is expected to generate an absolute dollar opportunity of US$ 233.8 million between 2024 and 2034.
Packaging end use of XPP foam is expected to generate an absolute dollar opportunity US$ 338.4 million by 2034.
In 2024, the low density XPP foam segment is valued US$ 665 million and accounts for 64.5% market share.
The market for XPP foam in China has been estimated to advance at a CAGR of 7.7% through 2034.

"XPP foam will be widely used by automobile manufacturers for sound absorption and insulation purposes mainly to reduce the weight of components being fitted," says a Fact.MR analyst.

Country-wise Insights:

The extruded polypropylene foam market in the United States is anticipated to grow at a compound annual growth rate (CAGR) of 7.6% between 2024 and 2034, generating an absolute dollar opportunity of US$ 252.3 million.

As the building industry puts more focus on energy efficiency, suppliers foresee a surge in demand for XPP foam insulation products, including pipe insulation, insulated wall panels, and insulated concrete forms. The automotive sector will witness a rise in demand for robust and lightweight XPP foam parts for use in underbody shields, headliners, and trunk liners.

Market Development

Leading XPP foam producers are LyondellBasell Industries, Mitsubishi Chemical Holdings, Formosa Plastics Group, Borealis AG, Mitsui Chemicals Tohcello Inc., BASF, Sekisui Voltek, Sonoco Products, DS Smith Plc, NMC SA, Pregis LLC, Zotefoams Plc., Furukawa Electric Co. Ltd., Toray Industries Inc., Braskem, and JSP Corporation. These companies are thriving on the back of high demand for XPP foam from the consumer products, construction, and automotive industries.

In Nov 2022, LyondellBasell announced its propylene manufacturing capacity expansion at Houston, Texas, USA.

Extruded Polypropylene (XPP) Foam Industry News:

In May 2024, Kuraray Co., Ltd. announced the manufacturing of a blister-resistant grade of GENESTAR product for heat-resistant polyamide resin, which significantly decreases the blister occurrence rate.

Fact.MR's recently updated market report provides detailed information on the price points of key manufacturers of extruded polypropylene (XPP) foam across various regions. It also covers sales growth, production capacity, and anticipated technological advancements.

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Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type:

High Density XPP Foam
Low Density XPP Foam

Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use:

Automotive
Packaging
Building & Construction

Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region:

North America
Latin America
Western Europe
South Asia
East Asia
Eastern Europe
Middle East & Africa

More Valuable Insights:

Fact.MR, in its new offering, presents an unbiased analysis of the global extruded polypropylene foam market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study reveals essential insights based on type (high-density XPP foam, low-density XPP foam) and end use (automotive, packaging, building & construction), across major seven regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and the Middle East & Africa).

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