Expanded Polypropylene Market, Share, Size, Report, Top Players, Regions and Market Overview
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 2027.
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
Market 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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