Expanded Polypropylene Market Size | Trends, Business Strategies, Challenges, Growth Forecast 2022 to 2030

 Market Forecast

Global Expanded Polypropylene Market size 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 Size 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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