The global expanded polypropylene foam market revenue is expected to expand at a lucrative CAGR over the forecast period. Rising demand for expanded polypropylene foam in end-use industries such as automotive electronics, and packaging owing to its properties such as high strength and lightweight is expected to be a major factor driving revenue growth of the market.
The global expanded polypropylene foam market report has been segmented on the basis of product, application, and region.
On the basis of the product, the global expanded polypropylene foam market has been segmented into low-density, medium density, and high density. The medium density segment is expected to grow at high CAGR over the forecast period owing to increasing use of the product in electronics, appliances, and toys.
On the basis of application, the global target market has been segmented into automotive, packaging, consumer products, and others (textile, furniture, food & beverages, and toys). The packaging segment is expected to witness higher growth rate over the forecast period. Growing demand for protective and flexible packaging in electronic, industrial equipment, and FMCG industries is expected to propel segment growth over the forecast period.
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On the basis of region, the global expanded polypropylene foam market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe market is expected to grow at a steady rate over the forecast period. Growing automotive industry in the region are expected to support revenue growth of Europe expanded polypropylene foam market. Moreover, growing penetration of packaging industry coupled with the presence of a large number of expanded polypropylene foam manufacturers in the region is expected to support revenue growth of expanded polypropylene foam market in the region.
Key players operating in the global expanded polypropylene foam market include BASF SE, Kaneka Corporation, JSP Corporation, DS Smith PLC, Furukawa Electric Co., Ltd., Hanwha Group, Sonoco Products Company, The Woodbridge Group, Lauren Manufacturing LLC, and Clark Foam Products Corporation.