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Revenue Pockets: Polypropylene Foams Market
The global demand for polypropylene foams is increasing rapidly due to their better performance compared to the competitive foams. Expanded polypropylene foams (EPP) and extruded polypropylene foams are the two important types of polypropylene foams. The demand for these foams is anticipated to grow due their acceptance in the industry and end-user demand for high quality foam materials. The polypropylene foams are generally clubbed with polyethylene foams and are widely known as olefin or polyolefin foams.
Currently, the demand of polypropylene foam is driven by the global automotive and packaging applications’ demand supported by stringent government regulations, increasing pressure for lightweight and durable foams, and the need for improving the standard of processing and manufacturing end-products. Recyclability is a growing concern which could push the market, as the polypropylene foams are 100% recyclable among the competing foams. The durability and light weight nature of polypropylene foams creates a significant impact on the various application markets and is already replacing polyurethane and polystyrene foams in some application segments. It meets the requirements of thermal conductivity, distinct density requirements, and other characteristics across the different industry verticals and is an excellent performer compared to other materials.
There are various markets, especially in Asia-Pacific and ROW region, where the volumetric consumption of polypropylene foam products is increasing due to new projects and environmental rules and regulations. Thus, the investments are quite low for these products in various countries of the aforementioned regions. However, the consumption has increased considerably in the past two years and it is expected to improve in the next five years. The increasing purchasing power in developing countries, economic growth, potential projects supported by respective governments, and need for high performance products may add to the greater demand in the future.
Polypropylene Foams Market by Application (Automotive, Packaging, Consumer Products & Others), by Type (Expanded Polypropylene Foams and Extruded Polypropylene Foams) & Geography – Trends and Forecasts to 2018
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