Extruded Polypropylene (XPP) Foam Market

Extruded Polypropylene (XPP) Foam Market Size (2023-2028)

The Extruded Polypropylene (XPP) Foam Industry was expected to be worth USD 715.9 million in 2022 and is predicted to reach USD 1,048.3 million by 2028, at a CAGR of 8.4% over the foreseen period. 

Expanded polypropylene (XPP) is a kind of closed-cell bead foam with distinct properties like repellence to multiple impacts, thermal insulation, water, and chemical repellence, extended strength, and recyclability. As the word explains, extruded polypropylene foam is made by extruding a combination of a physical blowing agent, polypropylene resin, with high melting strength and elasticity, and a nucleating agent. This foam is mainly employed in building and construction, automotive, and other end-use businesses. The employment of low-density foam in the automotive industry is predicted to rise quickly on account of increasing calls in the making of engine sheds, door liners, and roof trunk liners for impact shielding.

Extruded Polypropylene (XPP) foam is typically obtained by extruding a mixture of polypropylene resin. It offers high features such as multiple impact resistance, water and chemical resistance, high strength, thermal insulation, and recyclability. Owing to its versatile features, it is broadly employed in automotive, building, packaging, and other businesses. Extruded polypropylene foam is recyclable and eco-friendly in character.

Extruded Polypropylene (XPP) Foam Market Drivers & Restraints:

The escalating call for XPP foam from the automotive end-use business is predicted to drive the expansion of the global XPP foam industry. After so many years of high expansion, worldwide automobile sales were highly flat in 2020, on account of the slump incall in the world's key industry, China. Business tensions between the U.S. and China are one of the factors behind the slowing down of the economy and auto industry. Jaguar Land Rover has taken out a decline in the firm sales owing to poor Chinese call, while Ford has pulled plans to sell a Chinese-made Ford focus in the US owing to the effect of business tariffs. The rising automotive industry is one of the key factors driving the global extruded polypropylene (XPP) foam industry worldwide. Extruded polypropylene foam is broadly employed to obtain lightweight automobile parts, like bumper and door liners for vehicles. Nevertheless, the changing raw material costs and the high final product prices might hamper the extruded polypropylene foam industry worldwide.

Nevertheless, the rising call for bioplastics and eco-friendly packaging solutions across the world is predicted to create the latest industry opportunities in the foreseen timeframe. Nevertheless, the lack of awareness and increasing costs of extruded polypropylene foam are known as the key restraints for the expansion of the XPP foam industry. The cost changes of polypropylene are a key concern for makers. The unstable oil costs and future hedging has led to manufacturers searching for substitutes to extruded polypropylene foam. The cost changes have impacted the food packaging industry leading to an escalation in packaging prices that have reduced profits. The versatile features and prices of polypropylene foam have made these goods preferable for packaging for a broad variety of foodstuffs. There have been so many changes in the production techniques of chemicals and their respective implementations in different businesses that are predicted to drive the call for the global extruded polypropylene foam market in these areas.

REPORT COVERAGE

Extruded Polypropylene (XPP) Foam Market Segmentation:

Extruded Polypropylene (XPP) Foam Market - By Type:

• Low density

• High density

On the basis of type, the low-density type sector is predicted to account for the most substantial share of the XPP foam industry in the future. The low-density XPP foam industry expansion is supported by the rising call for this product from automotive, protective packaging, and insulation implementations.

Extruded Polypropylene (XPP) Foam Market - By End-use:

• Automotive

• Packaging

• Building and Construction

On the basis of the end-use industry, the automotive sector is predicted to account for the biggest share of the XPP foam industry in the coming years. XPP foam is very much called in automotive and packaging end-use businesses. The automotive end-use business leads to the total XPP foam industry.

Extruded Polypropylene (XPP) Foam Market - By Region:

• North America Extruded Polypropylene (XPP) Foam Industry includes the U.S. and Canada.

• Europe Extruded Polypropylene (XPP) Foam Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

• Asia Pacific Extruded Polypropylene (XPP) Foam Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

• Latin America Extruded Polypropylene (XPP) Foam Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.

• Middle East & Africa Extruded Polypropylene (XPP) Foam Industry includes KSA, UAE, Israel, the rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

The region of North America extruded polypropylene foam industry is driven by rising employment in the automotive industry. The Corporate Average Fuel Economy (CAFÉ) regulation focused on decreasing the pollution caused owing to the high weight of these vehicles is predicted to fuel the consumption of these products in the foreseen timeframe. Asia-Pacific is the quickest-rising region rising at a CAGR of 7.2% from 2020 to 2025. The call-in in the region is driven by increasing consumption in China, India, and Japan. The rising automobile industry backed by increasing disposable incomes is predicted to have a good impact on the industry call for these goods. The rising contract packaging industry in the region is predicted to have a considerable amount of extruded polypropylene foam over the foreseen period. Europe is a major region in the industry and is predicted to rise moderately in the foreseen period. The considerable nations in the area are Germany, the UK, and France. The fast innovation of materials employed in the making of automobiles together with an increasing number of automobile OEMs in nations like Austria and Poland is predicted to fuel the call for extruded polypropylene foam.

Recent Developments 

Pregis made funding in European operations to assist growing protective packaging needs. The company recently started a new energy-efficient unit in Stevenage, UK, which includes a Customer Experience and Paper Specialist Centre (PSC) at the same place.

Extruded Polypropylene (XPP) Foam Key Market Players:

1. Mitsui Chemicals (Japan) 

2. Sekisui Voltek (United States of America) 

3. Sonoco (United States of America) 

4. Sohner Plastics (Germany) 

5. NMC SA (Belgium) 

6. Pregis (United States of America) 

7. Sumitomo Chemical (Japan) 

8. Zotefoams (UK) 

9. Toray (Japan) 

10. Borealis (Austria) 

11. BASF (Germany)

12. Braskem (Brazil) 

13. DS Smith (UK) 

14. JSP Corporation (Japan)

15. Furukawa Electric (Japan)