EPP Foam Market by Type (Low-Density, High-Density & Porous Polypropylene), Application (Automotive, Packaging, Consumer Products, HVAC, Marine, Aerospace, Medical, Sports & Leisure, Fibers & Fabrics), and Region - Global Forecast to 2028
EPP Foam Market
EPP Foam Market is valued at USD 1.4 billion in 2023 and is projected to reach USD 1.8 billion by 2028, growing at 5.7% cagr during the forecast period. The growing demand for EPP foam is being fueled in significant amounts by the automobile sector. Automakers are using EPP foam as their preferred material due to their constant focus on environmental sustainability, vehicle safety, and fuel efficiency.
Attractive Opportunities in the EPP Foam Market
To know about the assumptions considered for the study, Request for Free Sample Report
EPP Foam Market Dynamics
Driver: EPP Foam’s versatility in the automotive industry
The incredible ability of EPP foam to reduce weight without sacrificing strength accounts for its adaptability in the automobile industry. Automakers are using EPP foam to reduce unnecessary weight from automobiles in an era where fuel efficiency is crucial. EPP foam is assisting in achieving significant improvements in fuel efficiency through the reduction of overall vehicle weight and enhancements to handling and performance. In the automobile sector, safety is non-negotiable, and EPP foam is playing a critical role in taking it to new heights.
Restraint: High initial costs related to manufacturing
Production of EPP foam is a highly specialized process requiring complex engineering and high-tech equipment. Extrusion, bead expansion, molding, and curing are the transformation processes that the raw polypropylene material goes through. To get the appropriate foam structure and qualities, each step needs to be executed with accuracy and control. Modern machinery and technology require a heavy initial investment, which greatly increases the cost. The dedication and skill required to produce an EPP foam recognized for its adaptability, durability, and outstanding qualities are reflected in the high initial cost of manufacture.
Opportunity: Technological advancement in EPP foam manufacturing
EPP foam has seen notable technical developments throughout time, propelling it to the forefront of a variety of industries. These breakthroughs have increased the potential applications for EPP foam, rather than only making minor incremental improvements. EPP foam is distinguished by its ability to be both light and durable. Engineers have been able to improve these qualities even further due to recent technological developments. EPP foam with improved strength-to-weight ratios has been developed as an outcome of material engineering innovations, enabling even greater weight reduction in automotive components, packaging materials, and other products.
Challenges: Raw material availability and price fluctuations
EPP foam production comes with a unique set of challenges, prominent among them the scarcity of raw materials and price fluctuations. Polypropylene's price is prone to fluctuations driven on by supply and demand imbalances, currency fluctuations, and market speculation due to its intrinsic volatility. Such price fluctuation may affect the cost of making EPP foam in a cascading manner, which may affect the final product's cost and the makers' profitability. Numerous variables, including as interruptions in supply brought on by disasters, changes in demand, and geopolitical events, can have an impact on the dynamics of the EPP foam market.
EPP Foam Market Ecosystem
BASF SE (Germany), JSP Corporation (Japan), Hanwha Advanced Materials (South Korea), BEWI (Norway), and Sonoco Products Company (US), are some of the prominent companies in the EPP foam market. These companies are well-established, financially stable, and have a global presence in the market.
Based on type, the high-density segment is estimated to have largest share during the forecast period.
Demand for high-density EPP foam is increasing across all sectors that need products with great strength, durability, and impact resistance. This EPP foam, distinguished by its denser cellular structure, is quickly replacing other types of foam as the material of choice for various purposes. Always at the forefront of innovation, the automotive sector is increasingly using high-density EPP foam. It is an ideal material for safety elements like vehicle bumpers and crash absorbers due to its capacity to withstand powerful impacts while being lightweight.
Based on application, the automotive segment is expected to grow significantly during the forecast period.
It is impossible to emphasize how much EPP foam contributes to a quieter and more relaxing driving experience. Its acoustic insulation qualities are used to reduce noise and vibrations inside the car. EPP foam makes sure that drivers and passengers have a peaceful ride by sealing engine noise and decreasing road noise. EPP foam is an important component in the innovative interior of contemporary vehicles. Its light weight and moldability enable the development of visually appealing and comfortable interior components. EPP foam blends comfort and design in everything from armrests to door panels, improving the environment within the vehicle.
Asia Pacific region is projected to grow at a significant CAGR during the forecast period.
Consumer electronics are produced and consumed mostly in Asia Pacific, where EPP foam is a key component. It is used to wrap delicate electronic parts, assuring their safe delivery to customers and transportation. It is indispensable for protecting priceless electrical gadgets due to its lightweight design and protective attributes. The demand for EPP foam is anticipated to rise even further as the Asia Pacific area continues to experience economic growth and technological advancement. Its unmatched versatility, lightweight, and sustainability credentials make it a material that not only satisfies the needs of various industries nowadays but also encourages innovation and helps to determine the direction of materials research.
To know about the assumptions considered for the study, download the pdf brochure
EPP Foam Market Players
BASF SE (Germany), JSP Corporation (Japan), Hanwha Advanced Materials (South Korea), BEWI (Norway), Sonoco Products Company (US), Engineered Foam Products (UK), Kaneka Corporation (Japan), Furukawa Electric Co., Ltd. (Japan), Chemische Fabrik Budenheim KG (Germany), and Yanfeng Woodbridge Lightweight Composites Co., Ltd. (China) are among the key players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels.
EPP Foam Market Report Scope
Report Metric |
Details |
Market Size Value in 2023 |
USD 1.4 billion |
Revenue Forecast in 2028 |
USD 1.8 billion |
CAGR |
5.7% |
Market Size Available for Years |
2019 to 2028 |
Base Year Considered |
2022 |
Forecast Period |
2023–2028 |
Forecast Units |
Value (USD million/billion), Volume (Kilotons) |
Segments Covered |
Type, Application, and Region. |
Geographies Covered |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
Companies Covered |
The major market players include BASF SE (Germany), JSP Corporation (Japan), Hanwha Advanced Materials (South Korea), BEWI (Norway), Sonoco Products Company (US), Engineered Foam Products (UK), Kaneka Corporation (Japan), Furukawa Electric Co., Ltd. (Japan), Chemische Fabrik Budenheim KG (Germany), and Yanfeng Woodbridge Lightweight Composites Co., Ltd. (China) |
This research report categorizes the EPP foam market based on type, 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 products
- Others (HVAC, marine, aerospace, medical, fibers & fabrics, and sports & leisure.)
Based on regions, the EPP foam market has been segmented as follows:
- Asia Pacific
- North America
- Europe
- Middle East & Africa
- South America
Recent Developments
- In May 2022, BEWI acquired Jablite Group, a leading UK based insulation and packaging company.
- In March 2022, Kaneka developed a new grade of EPERAN series. It contains 25% of the recycled content from end-of-life EPP parts.
- In January 2022, Sonoco Products Company acquired Ball Metalpack, a major manufacturer of sustainable metal packaging for food and household products.
Frequently Asked Questions (FAQ):
What is EPP foam?
EPP foam is a type of thermoplastic foam material that belongs to the expanded polymer family. It is made through a procedure called polymer expansion.
What are the major types of EPP foam?
Low-density, high-density and porous PP are major types of EPP foam.
Which key companies operate in the global EPP foam market?
BASF SE (Germany), JSP Corporation (Japan), Hanwha Advanced Materials (South Korea), BEWI (Norway), Sonoco Products Company (US), Engineered Foam Products (UK), Kaneka Corporation (Japan), Furukawa Electric Co., Ltd. (Japan), Chemische Fabrik Budenheim KG (Germany), and Yanfeng Woodbridge Lightweight Composites Co., Ltd. (China)
What are critical strategies adopted by the market players?
One of the most essential differentiating factors providing a competitive edge to companies in the market is the extensive adoption of strategies such as expansions, investment, new product launch, collaboration, agreement, merger, and acquisitions which gives them a head start in enhancing their presence in the evolving EPP foam market.
What is the key driver of the EPP foam market?
Increasing demand for EPP foam from automotive and packaging industry is the critical driver for the EPP foam market. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The study involved four major activities in estimating the current size of the EPP foam market. Exhaustive secondary research was done to collect information on the market, peer markets, and parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the EPP foam value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources for this study include Hoovers, Bloomberg, BusinessWeek, and Dun & Bradstreet, which were referred to for identifying and collecting information. These secondary sources included annual reports, press releases, investor presentations of companies, white papers, certified publications, articles by recognized authors, authenticated directories, and databases. Secondary data has been collected and analyzed to determine the overall market size, further validated by primary research.
Primary Research
The EPP foam market comprises stakeholders, such as raw material suppliers, manufacturers, raw material manufacturers, distributors, traders, suppliers, and regulatory organizations in the supply chain.
As part of the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report on the EPP foam market. Primary sources from the supply side included industry experts such as Chief Executive Officers (CEOs), vice presidents, marketing directors, and related key executives from various companies and organizations operating in the EPP Foam market. Primary sources from the demand side included directors, marketing heads, and purchase managers from multiple end-use industries.
Breakdown of the Primary Interviews
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 market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size included the following:
- The key players were identified through extensive primary and secondary research.
- The value chain and market size of the EPP foam market, 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.
- All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from key leaders, such as CEOs, directors, and marketing executives.
To know about the assumptions considered for the study, Request for Free Sample Report
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition to this, the market size was validated using both top-down and bottom-up approaches.
Market Definition
Expanded polypropylene foam, commonly known as EPP foam, is a type of thermoplastic foam material that belongs to the expanded polymer family. It is made through polymer expansion, in which unprocessed polypropylene resin beads are enlarged by adding steam before being molded into the required shape. The outcome is a lightweight, closed-cell foam material with interconnected spherical beads that look like a beehive. EPP foam stands out as an excellent choice when it comes to adaptable and lightweight materials with a variety of applications. Because of its exceptional combination of qualities, EPP foam is a unique material preferred by numerous industries.
Key stakeholders
- EPP foam manufacturers
- Raw material suppliers
- Manufacturing technology providers
- Industry associations
- Stakeholders in the Foam industry
- Traders, distributors, and suppliers of EPP foam
- NGOs, government bodies, regional agencies, and research organizations
Report Objectives
- To define, describe, and forecast the expanded polypropylene (EPP) foam market in terms of both value and volume
- To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the market growth
- To forecast the market size by type and application
- To forecast the market size for five main regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America
- To strategically analyze micro markets for individual growth trends, prospects, and their contribution to the overall market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for the market leaders.
- To analyze competitive developments, namely, investment & expansion in the market
- To strategically profile the key players and comprehensively analyze their market shares and core competencies.
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- A further breakdown of the product portfolio of each company in the EPP foam market
- A further breakdown of a region of the EPP foam market concerning a particular country.
- Details and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in EPP Foam Market