Expanded Polypropylene (EPP) Foam Market by Type (Low Density, High Density & Porous PP), Application (Automotive, Packaging, Consumer Products), and Region (North America, Europe, Asia-Pacific) - Global Forecast to 2025
Updated on : September 01, 2023
Expanded Polypropylene Foam Market
The global expanded polypropylene foam market was valued at USD 1,253 million in 2020 and is projected to reach USD 1,619 million by 2025, growing at a cagr 5.3% from 2020 to 2025. Recyclable & reusable properties of expanded polypropylene (EPP) foam; and optimum performance and low weight of EPP foam are driving the growth of the market.
The EPP foam market projected to witness the highest CAGR in Porous PP segment during the forecast period.
Porous PP foam’s shape helps to add air space, making these foams lightweight. These foams are good in impact protection, highly durable, have high structural integrity. They are mainly used in the automotive industry for noise and vibration reduction. Car interior is the major application of porous PP foams, which are mainly used in this application because of their characteristic of noise reduction.
Automotive is estimated to have the largest share of the overall EPP foam market during the forecast period.
Due to low cost, outstanding mechanical properties, and moldability, EPP foam is widely used in automotive parts. It helps in reducing vehicle weight up to 10%, allowing up to 7% fuel saving. It also helps in minimizing the release of VOCs from automotive interior parts. When EPP foam is additionally combined with metals, a greater amount of energy can be absorbed and distributed. These factors are supporting the trend of making eco-friendly vehicles.
The APAC EPP foam market is projected to witness the highest growth during the forecast period.
The APAC EPP foam market is segmented into China, Japan, India, South Korea, and the Rest of APAC. The APAC region is a lucrative market for EPP foam. The market in the region is projected to witness the highest growth in the next five years. The region is expected to offer significant opportunities for the EPP foam manufacturers in the next five years. Many EPP foam manufacturers are setting up or expanding their manufacturing bases in this region to take advantage of the low manufacturing cost.
Expanded Polypropylene Foam Market Players
JSP Corporation (Japan), Kaneka Corporation (Japan), Hanwha Chemical Corporation (South Korea), BASF SE (Germany) are some of the leading players operating in the global EPP foam market.
Expanded Polypropylene Foam Market Report Scope
|
Report Metric |
Details |
|
Market Size Value in 2020 |
USD 1,253 million |
|
Revenue Forecast in 2025 |
USD 1,619 million |
|
CAGR |
5.3% |
|
Years considered for the study |
2018–2025 |
|
Base year |
2019 |
|
Forecast period |
2020–2025 |
|
Units considered |
Value (USD Billion) and Volume (Kiloton) |
|
Segments |
Type, And Application |
|
Regions |
APAC, North America, Europe, the Middle East & Africa, and South America |
|
Companies |
JSP Corporation (Japan), Kaneka Corporation (Japan), Hanwha Chemical Corporation (South Korea), and BASF SE (Germany) |
This research report categorizes the EPP foam market based on natural resin type, synthetic & semi-synthetic resin type, technology, application, and region.
Based on type, the EPP foam market has been segmented as follows:
- Low Density
- High Density
- Porous PP
Based on application, the EPP foam market has been segmented as follows:
- Automotive
- Packaging
- Consumer Goods
- Others
Based on region, the EPP foam market has been segmented as follows:
- APAC
- North America
- Europe
- Middle East & Africa
- South America
Recent Developments
- In January 2018, Kaneka Corporation announced the investment of USD 17 million to expand the capacity for Eperan expanded PE and PP particle foams at its Westerlo site in Belgium. This expansion was undertaken, keeping in mind the penetration of Eperan foam in Europe and other parts of the world. This is also expected to strengthen the company’s global supply network.
- In August 2017, Kaneka Corporation announced to establish a new manufacturing plant for producing expanded polyolefin foam in Rayong, Thailand. An investment of USD 18 million was made to make a production capacity of 3,000 metric tons per year to cater to the increasing demand in Southeast Asia and India.
Key questions addressed by the report
- What is the mid-to-long term impact of the developments undertaken in the industry?
- What are the upcoming technologies used in the EPP foam industry?
- Which segment has the potential to register the highest market share?
- What is the current competitive landscape in the EPP foam market in terms of new technologies, production, and sales?
- What will be the growth prospects of the EPP foam market?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 15)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Regions Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Unit Considered
1.6 Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumptions
2.5 Limitations
3 Premium Insights (Page No. - 31)
3.1 Significant Opportunities in the EPP Foam Market
3.2 EPP Foam Market, By Type
3.3 APAC EPP Foam Market, By Application and Country, 2019
3.4 EPP Foam Market, By Key Countries
3.5 EPP Foam Market, Developed vs. Developing Countries
4 Market Overview (Page No. - 34)
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Recyclable & Reusable Properties of EPP Foam
4.2.1.2 Optimum Performance and Low Weight of EPP Foam
4.2.2 Restraints
4.2.2.1 Higher Price of EPP Foam Over Other Types of Foam
4.2.2.2 Volatile Raw Material Prices
4.2.3 Opportunities
4.2.3.1 Growing Demand for EPP Foam in End-Use Industries
4.2.3.2 Investments in Emerging Economies
4.2.4 Challenges
4.2.4.1 Less Awareness About EPP Foam
4.3 Porter’s Five Forces Analysis
4.3.1 Intensity of Competitive Rivalry
4.3.2 Bargaining Power of Buyers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitutes
4.3.5 Threat of New Entrants
4.4 Macroeconomic Overview and Key Indicators
4.4.1 Global GDP Trends and Forecasts
4.4.2 Trends in the Packaging Industry
4.4.3 Growth Indicators in the Automotive Industry
5 EPP Foam Market, By Type (Page No. - 44)
5.1 Introduction
5.2 Low Density
5.2.1 Low-Density EPP Foams Have High Demand in the Packaging Industry
5.3 High Density
5.3.1 These Foams Have Good Stability, High Strength-To-Weight Ratio, and Load-Bearing Structural Support
5.4 Porous PP
5.4.1 These Foams Help in Noise and Vibration Reduction
6 EPP Foam Market, By Application (Page No. - 49)
6.1 Introduction
6.2 Automotive
6.2.1 EPP Foam is Used Widely in Automotive Applications for Its Low Weight
6.3 Packaging
6.3.1 Affordability of EPP Foam is Driving the Demand in Packaging Applications
6.4 Consumer Products
6.4.1 Energy Absorption and Acoustic Insulation are Boosting the Demand in Consumer Products
6.5 Others
7 EPP Foam Market, By Region (Page No. - 55)
7.1 Introduction
7.2 North America
7.2.1 US
7.2.1.1 The Automotive Industry is Driving the Demand for EPP Foam
7.2.2 Canada
7.2.2.1 The Market is Fueled By the Demand in Packaging Applications
7.2.3 Mexico
7.2.3.1 The Country is Attracting Investments By Key Market Players
7.3 Europe
7.3.1 Germany
7.3.1.1 Increased Demand From Automotive Parts Manufacturing Sector is Driving the Market
7.3.2 France
7.3.2.1 The Country is One of the Leading Exporters of Packaging Materials Globally
7.3.3 Spain
7.3.3.1 The Country has the Presence of Established Car Manufacturers
7.3.4 UK
7.3.4.1 Significant Investments are Made for Automotive R&D
7.3.5 Netherlands
7.3.5.1 The Growing Automotive Sector is Likely to Boost the Demand for EPP Foam
7.3.6 Rest of Europe
7.4 APAC
7.4.1 China
7.4.1.1 Growing Industrial and Manufacturing Activities are Resulting in Increasing the Demand for EPP Foam
7.4.2 India
7.4.2.1 Promising Automobile Manufacturing Growth is Expected to Drive the Demand for EPP Foam
7.4.3 Japan
7.4.3.1 The Manufacturing Industry is Projected to Experience Low Growth Due to Saturated Market Conditions
7.4.4 South Korea
7.4.4.1 The Key Automobile Manufacturers are Headquartered in the Country
7.4.5 Thailand
7.4.5.1 It is the Largest Automobile Producer Among Southeast Asian Countries
7.4.6 Rest of APAC
7.5 South America
7.5.1 Brazil
7.5.1.1 The Market for EPP Foam in Brazil is Led By Demand From the Automotive Industry
7.5.2 Argentina
7.5.2.1 High Demand for Luxury Cars and Suvs is Witnessed in the Country Due to Increasing Consumer Spending
7.5.3 Rest of South America
7.6 Middle East & Africa
7.6.1 South Africa
7.6.1.1 The EPP Foam Market is Driven By the Presence of Various Car Manufacturers in the Country
7.6.2 Morocco
7.6.2.1 Presence of A Large Number of Automobile Companies is Boosting the Market
7.6.3 Rest of Middle East & Africa
8 Competitive Landscape (Page No. - 89)
8.1 Introduction
8.2 Competitive Scenario
8.2.1 Investment & Expansion
9 Company Profiles (Page No. - 91)
9.1 JSP Corporation
9.1.1 Business Overview
9.1.2 Products Offered
9.1.3 Recent Developments
9.1.4 SWOT Analysis
9.1.5 MnM View
9.2 Kaneka Corporation
9.2.1 Business Overview
9.2.2 Products Offered
9.2.3 Recent Developments
9.2.4 SWOT Analysis
9.2.5 MnM View
9.3 Hanwha Chemical Corporation
9.3.1 Business Overview
9.3.2 Products Offered
9.3.3 SWOT Analysis
9.3.4 MnM View
9.4 BASF SE
9.4.1 Business Overview
9.4.2 Products Offered
9.4.3 SWOT Analysis
9.4.4 MnM View
9.5 Furukawa Electric Co., Ltd.
9.5.1 Business Overview
9.5.2 Products Offered
9.5.3 SWOT Analysis
9.5.4 MnM View
9.6 DS Smith Plc
9.6.1 Business Overview
9.6.2 Products Offered
9.6.3 SWOT Analysis
9.7 Sonoco Products Company
9.7.1 Business Overview
9.7.2 Products Offered
9.7.3 SWOT Analysis
9.8 Woodbridge
9.8.1 Business Overview
9.8.2 Products Offered
9.9 Automa Multi Styrene
9.9.1 Business Overview
9.9.2 Products Offered
9.10 Chemische Fabrik Budenheim Kg
9.9.1 Business Overview
9.9.2 Products Offered
9.11 Clark Foam Products
9.11.1 Business Overview
9.11.2 Products Offered
9.12 K. K. Nag Ltd.
9.12.1 Business Overview
9.12.2 Products Offered
9.13 Knauf Industries
9.13.1 Business Overview
9.13.2 Products Offered
10 Appendix (Page No. - 114)
10.1 Discussion Guide
10.2 Knowledge Store: Marketsandmarkets Subscription Portal
10.3 Available Customizations
10.4 Related Reports
10.5 Author Details
List of Tables (83 Tables)
Table 1 EPP Foam Market to Register High Growth Between 2020 and 2025
Table 2 GDP Percentage Change of Key Countries, 2019–2024
Table 3 Global Flexible Packaging Production (Volume), By Region
Table 4 Global Automotive Production in Key Countries, 2017—2018 (Million Units)
Table 5 EPP Foam Market Size, By Type, 2018–2025 (USD Million)
Table 6 EPP Foam Market Size, By Type, 2018–2025 (Kiloton)
Table 7 Low-Density EPP Foam Market Size, By Region, 2018–2025 (USD Million)
Table 8 Low-Density EPP Foam Market Size, By Region, 2018–2025 (Kiloton)
Table 9 High-Density EPP Foam Market Size, By Region, 2018–2025 (USD Million)
Table 10 High-Density EPP Foam Market Size, By Region, 2018–2025 (Kiloton)
Table 11 Porous Pp EPP Foam Market Size, By Region, 2018–2025 (USD Million)
Table 12 Porous Pp EPP Foam Market Size, By Region, 2018–2025 (Kiloton)
Table 13 EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 14 EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 15 EPP Foam Market Size in Automotive Application, By Region, 2018–2025 (USD Million)
Table 16 EPP Foam Market Size in Automotive Application, By Region, 2018–2025 (Kiloton)
Table 17 EPP Foam Market Size in Packaging Application, By Region, 2018–2025 (USD Million)
Table 18 EPP Foam Market Size in Packaging Application, By Region, 2018–2025 (Kiloton)
Table 19 EPP Foam Market Size in Consumer Products Application, By Region, 2018–2025 (USD Million)
Table 20 EPP Foam Market Size in Consumer Products Application, By Region, 2018–2025 (Kiloton)
Table 21 EPP Foam Market Size in Other Applications, By Region, 2018–2025 (USD Million)
Table 22 EPP Foam Market Size in Other Applications, By Region, 2018–2025 (Kiloton)
Table 23 EPP Foam Market Size, By Region, 2018–2025 (USD Million)
Table 24 EPP Foam Market Size, By Region, 2018–2025 (Kiloton)
Table 25 North America: EPP Foam Market Size, By Country, 2018–2025 (USD Million)
Table 26 North America: EPP Foam Market Size, By Country, 2018–2025 (Kiloton)
Table 27 North America: EPP Foam Market Size, By Type, 2018–2025 (USD Million)
Table 28 North America: EPP Foam Market Size, By Type, 2018–2025 (Kiloton)
Table 29 North America: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 30 North America: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 31 US: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 32 US: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 33 Canada: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 34 Canada: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 35 Mexico: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 36 Mexico: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 37 Europe: EPP Foam Market Size, By Country, 2018–2025 (USD Million)
Table 38 Europe: EPP Foam Market Size, By Country, 2018–2025 (Kiloton)
Table 39 Europe: EPP Foam Market Size, By Type, 2018–2025 (USD Million)
Table 40 Europe: EPP Foam Market Size, By Type, 2018–2025 (Kiloton)
Table 41 Europe: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 42 Europe: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 43 Germany: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 44 Germany: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 45 France: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 46 France: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 47 Spain: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 48 Spain: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 49 UK: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 50 UK: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 51 Netherlands: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 52 Netherlands: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 53 APAC: EPP Foam Market Size, By Country, 2018–2025 (USD Million)
Table 54 APAC: EPP Foam Market Size, By Country, 2018–2025 (Kiloton)
Table 55 APAC: EPP Foam Market Size, By Type, 2018–2025 (USD Million)
Table 56 APAC: EPP Foam Market Size, By Type, 2018–2025 (Kiloton)
Table 57 APAC: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 58 APAC: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 59 China: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 60 China: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 61 India: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 62 India: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 63 Japan: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 64 Japan: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 65 South Korea: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 66 South Korea: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 67 South America: EPP Foam Market Size, By Country, 2018–2025 (USD Million)
Table 68 South America: EPP Foam Market Size, By Country, 2018–2025 (Kiloton)
Table 69 South America: EPP Foam Market Size, By Type, 2018–2025 (USD Million)
Table 70 South America: EPP Foam Market Size, By Type, 2018–2025 (Kiloton)
Table 71 South America: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 72 South America: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 73 Brazil: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 74 Brazil: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 75 Middle East & Africa: EPP Foam Market Size, By Country, 2018–2025 (USD Million)
Table 76 Middle East & Africa: EPP Foam Market Size, By Country, 2018–2025 (Kiloton)
Table 77 Middle East & Africa: EPP Foam Market Size, By Type, 2018–2025 (USD Million)
Table 78 Middle East & Africa: EPP Foam Market Size, By Type, 2018–2025 (Kiloton)
Table 79 Middle East & Africa: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 80 Middle East & Africa: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 81 South Africa: EPP Foam Market Size, By Application, 2018–2025 (USD Million)
Table 82 South Africa: EPP Foam Market Size, By Application, 2018–2025 (Kiloton)
Table 83 Investment & Expansion, 2015–2020
List of Figures (37 Figures)
Figure 1 EPP Foam Market Segmentation
Figure 2 EPP Foam Market: Research Design
Figure 3 EPP Foam Market Size Estimation
Figure 4 Market Size Estimation: Bottom-Up Approach
Figure 5 EPP Foam Market: Data Triangulation
Figure 6 Low-Density EPP Foam Was the Leading Segment in 2019
Figure 7 Automotive Was the Leading Application of EPP Foam in 2019
Figure 8 APAC Was the Largest Market for EPP Foam in 2019
Figure 9 EPP Foam Market to Witness Growth Between 2020 and 2025
Figure 10 Porous PP to Be the Fastest-Growing Segment
Figure 11 Automotive Segment and China Accounted for the Largest Shares
Figure 12 India to Be A Lucrative Market for EPP Foam
Figure 13 Market in Developing Countries to Grow Faster Than in Developed Countries
Figure 14 Drivers, Restraints, Opportunities, and Challenges in the EPP Foam Market
Figure 15 Porter’s Five Forces Analysis: EPP Foam Market
Figure 16 Global Packaging Production Overview, By Type (2017)
Figure 17 Low Density is the Major Segment of EPP Foam Market
Figure 18 Automotive is the Major Application Segment of EPP Foam Market
Figure 19 India to Be the Fastest-Growing Market
Figure 20 North America: EPP Foam Market Snapshot
Figure 21 Europe: EPP Foam Market Snapshot
Figure 22 APAC: EPP Foam Market Snapshot
Figure 23 Companies Adopted Investment & Expansion as the Key Growth Strategy Between 2015 and 2020
Figure 24 JSP Corporation: Company Snapshot
Figure 25 JSP: SWOT Analysis
Figure 26 Kaneka Corporation: Company Snapshot
Figure 27 Kaneka Corporation: SWOT Analysis
Figure 28 Hanwha Chemical Corporation: Company Snapshot
Figure 29 Hanwha: SWOT Analysis
Figure 30 BASF: Company Snapshot
Figure 31 BASF: SWOT Analysis
Figure 32 Furukawa Electric: Company Snapshot
Figure 33 Furukawa Electric: SWOT Analysis
Figure 34 DS Smith: Company Snapshot
Figure 35 DS Smith: SWOT Analysis
Figure 36 Sonoco Products Company: Company Snapshot
Figure 37 Sonoco Products Company: SWOT Analysis
The study involved four major activities in estimating the current market size of EPP foam. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation methods were used to estimate the size of the segments and subsegments of the overall market.
Secondary Research
This research report involves the use of extensive secondary sources, directories, and databases such as Bloomberg, BusinessWeek, Factiva, ICIS, and OneSource to identify and collect information useful for the technical, market-oriented, and commercial study of the EPP foam market. The secondary sources included annual reports, press releases & investor presentations of companies; white papers; certified publications; articles from recognized authors; authenticated directories; and databases.
Primary Research
The EPP foam market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Experts from the supply side included CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from various companies and organizations operating in the market. From the demand side, primary respondents include executives involved in automotive, and packaging.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the EPP foam market. These methods were also used extensively to estimate the sizes of various sub-segments in the market. The research methodology used to estimate the market size includes the following steps:
- The key players in the market were identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Report Objectives
After arriving at the overall market size-using the estimation processes explained above-the market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Report Objectives
- To analyze and forecast the EPP foam market, in terms of value and volume
- To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
- To analyze and forecast the size of the market based on type, and application
- To estimate and forecast the market size based on five regions, namely, Asia Pacific (APAC), North America, Europe, the Middle East & Africa, and South America
- To estimate and forecast the EPP foam market at the country-level in each of the regions
- To analyze the market opportunities and competitive landscape of the market leaders and stakeholders
- To analyze the competitive development, such as new product launch, investment & expansion, partnership & agreement, and merger & acquisition, in the EPP foam market
- To strategically identify and profile the key market players and analyze their core competencies
Available Customizations:
MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data.
The following customization options are available for the report:
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolio of each company
Regional Analysis
- A further breakdown of the EPP foam market, by country
Company Information
- Detailed analysis and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in Expanded Polypropylene (EPP) Foam Market