PUNE, India, April 28, 2017 /PRNewswire/ --
The report "Extruded Polypropylene (XPP) Foam Market by Type (Low Density, High Density), End-Use Industry (Transportation, Packaging, Building & Construction), Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa) - Global Forecast to 2021", published by MarketsandMarkets, the market is projected to grow from USD 654.3 Million in 2016 to USD 931.1 Million by 2021, at a CAGR of 7.3% from 2016 to 2021.
Browse 91 market data Tables and 43 Figures spread through 127 Pages and in-depth TOC on "Extruded Polypropylene (XPP) Foam Market"
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The growth of the extruded polypropylene (XPP) foam market is driven by the increasing use of extruded polypropylene (XPP) foam in the automobiles for weight reduction. Also, this foam is also being increasingly used in the packaging end-use industry, owing to their lightweight and high melt strength properties.
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Among types, the low density segment dominates the extruded polypropylene (XPP) foam market and is expected to continue its dominance during the forecast period as well.
The low density extruded polypropylene (XPP) foam is tough, structured, and non-reactive to chemicals and high temperatures as compared to other types of foam. This foam is used in automotive, building & construction, and various other end-use industries. Low density extruded polypropylene (XPP) foam is used in automotive end-use industry for door liners, engine shields, and roof trunk liners for impact protection and weight reduction. Increased demand for automobiles across the globe is expected to lead towards an increase in their production, which, in turn, is expected to fuel the growth of the low density segment of the extruded polypropylene (XPP) foam market during the forecast period.
Among end-use industries, the transportation segment is projected to lead the extruded polypropylene (XPP) foam market during the forecast period, 2016 to 2021.
Increasing concerns across the globe for weight reduction of automobiles have led to the development and use of lightweight materials in automobiles. These materials not only reduce the weight of automobiles but also increase their efficiency. Extruded polypropylene (XPP) foam is among such materials. This foam when combined with metals, help to decrease the weight of automobiles, increase their shock absorption capability, and reduce vibration and dampening of automobiles. Hence, manufacturers of automobiles across the globe are increasing use of extruded polypropylene (XPP) foam in their automobiles, which, in turn, is expected to fuel the growth of the transportation segment of the extruded polypropylene (XPP) foam market during the forecast period.
The Asia-Pacific extruded polypropylene (XPP) foam market is projected to grow at the highest CAGR during the forecast period, 2016 to 2021.
In 2015, the Asia-Pacific extruded polypropylene (XPP) foam market witnessed the highest growth, in terms of both, volume as well as value. This trend is projected to continue during the forecast period as well. Emerging markets, such as China, India, South Korea, and various Southeast Asian countries are attracting a number of global players to establish their manufacturing bases in the Asia-Pacific region. Manufacturers are competing to reach the wide customer base in countries, such as China and India to cater to the increasing demand for technologically advanced and high-quality products. Increased investments in technological, infrastructural, and R&D sectors are driving the growth of the Asia-Pacific extruded polypropylene (XPP) foam market.
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The players profiled in the Extruded Polypropylene (XPP) Foam Market report are Borealis AG (Austria), Mitsui Chemicals (Japan) Sekisui Voltek, LLC (U.S.), Sonoco Products Company (U.S.), DS Smith Plc (U.K.), NMC SA (Belgium), Pregis LLC (U.S.), and Zotefoams Plc (U.K.).
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