Expanded Polypropylene Market, Growth Opportunities, Overview, Share, Trends, Outlook and Forecast to 2022-2030

 Market Forecast

Global Expanded Polypropylene Market is expected to exhibit a CAGR of around 5% during the forecast period and reach USD 2.1 Million in value by 2030.

Expanded polypropylene is a closed bead cell of polypropylene with exceptional physical properties that include excellent energy absorption, durability, thermal insulation, high strength to weight ratio, good chemical resistance, and recyclability.

Production Outlook

The global Production Of Polypropylene is around 80 million tons in 2018 with China holding around 25% of global production. Further, a rise in polypropylene capacities is witnessed in Russia over the past few years. However, the expanding capacities of polypropylene has led to the oversupply affecting the pricing of the polypropylene globally.

Segmentation

By Density

  • This segment is     further segmented into low density, high density, and porous PP.
  • The low density     expanded polypropylene is expected to witness a healthy growth in the     forecast period. This is attributed to the increased usage of low density     expanded polypropylene in the packaging industry. It offers excellent     thermal insulation which makes it a suitable material for food &     beverage and industrial packaging.
  • High density     expanded polypropylene accounted for the largest market share in 2019 on     account of its extensive usage in the automobile industry. It offers     excellent stability, durability, load-bearing strength, and high strength     to weight ratio which increases the usage of high density expanded     polypropylene in the automotive, aerospace and marine sector.
  • Porous PP is     projected to be the fastest-growing segment during the assessment period.     This is attributed to the exceptional properties offered by porous PP such     as high shock absorption, noise, and vibration reduction. It is widely     used in consumer products such as electronic packaging, and ventilation     systems.

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By Application

  • This segment is     further segmented into automobile, packaging, consumer goods, and others.
  • The automobile     segment accounted for the largest market share in 2019 on account of the     widespread usage of expanded polypropylene in the automobile industry. It     is used in the various parts of the exterior and interior parts of the     automobile that includes bumpers, seating, sun visors, and many more.
  • The packaging     segment is expected to witness a healthy growth in the forecast period.     This is attributed to the exceptional thermal insulation, lightweight and     recyclable properties offered by expanded polypropylene which makes it an     ideal material in the packaging industry.
  • Consumer goods are     projected to be the fastest-growing segment during the assessment period.     This is attributed to the increasing application areas of expanded     polypropylene in consumer products such as furniture, household appliances,     toys, and electrical insulation, amongst others.
  • The others segment     includes aerospace, marine, ventilation system, and water treatment     system, amongst others.

By Region

  • North America:     Market growth in North America is driven by the presence of a large     industrial base in the region and the easy availability of raw material in     the region. Expanding end-use industries, especially automobile and     packaging are the key factors driving market growth.
  • Europe: The     European region is a well-established market. Increasing demand for     expanded polypropylene across major end-use industries is expected to     propel the market growth. The presence of key automotive manufacturers,     stringent government regulation on the use of recyclable components and     growing packaging sector in the region is the key factor driving the     demand for expanded polypropylene in the region.
  • Asia-Pacific: It is     the fastest-growing regional market. The increase in polypropylene     capacities, especially in growing economies such as China and India and     growing industrialization in the region is a prime factor driving the     regional market growth.
  • Latin America:     Rapid industrialization in countries such as Brazil and Mexico is     projected to drive market growth during the assessment period. Also, the     growing automotive industry in Mexico is the key factor for the growth of     the market in the region.
  • Middle East & Africa: The     demand for premium cars and the growing automotive industry is positively     influencing the demand for Expanded Polypropylene.

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