Expanded polyethylene foam (also known as EPE foam) is a type of polyethylene foam. It is typically created from expanded pellets ('EPE bead') made using a blowing agent, then expanded into a mold in a steam chest - a method similar to that used to make expanded polystyrene foam. Expanded polypropylene foams are low density, semi-rigid, closed cell foams that fall halfway between expanded polystyrene and polyurethane in stiffness/compliance. Expanded polypropylene foams are made in the same way as expanded polystyrene foams, but with PE beads as the starting point. Densities range from 29 to 120 kg/m3 (49 to 202 lb/cu yd), with the lower amount being more typical. The expanded polypropylene (EPP) foam market is expected to rise at a rapid pace during the forecast period, owing to rising demand from industries such as automotive, industrial packaging, construction, and others. Given this, the expansion of the automotive sector, as well as the requirement for innovations and technical advancements, will drive demand in the expanded polypropylene foam market.
COVID-19 Impact analysis
- The expanded polypropylene foam market was negatively affected due to the outbreak of COVID-19 pandemic.
- The industries such as including automotive, consumer goods, appliances, construction and others were shut down during the COVID-19 pandemic this decreases the demand for expanded polypropylene foam which affected the expanded polypropylene foam market.
- The COVID-19 pandemic has caused the imposition of lockdown due to which the production of expanded polypropylene foam decreased and the global supply chain was affected, this decreased the demand for expanded polypropylene foam market.
- The expanded polypropylene foam market faced downfall of revenue due to the COVID-19 pandemic.
Top Impacting Factors
Throughout the forecasted years, product penetration in applications such as packaging, consumer goods, and furniture is projected to have a significant impact on total market growth. The rising application breadth of the product in numerous industries can be ascribed to its exceptional attributes such as durability, chemical and water resistance, thermal insulation, and recyclability. Furthermore, rising industrial investment across major economies has resulted in greater vehicle and consumer products production. In turn, this is likely to stimulate demand for expanded polypropylene foam beads and molded products in the upcoming years. Increasing demand for chemical- and water-resistant materials in the packaging and consumer products industries is expected to drive product demand over the projected period. The simple availability of propylene, a vital raw ingredient used in the production of expanded polypropylene foam, in major economies has benefited in the global industry's raw material supply. However, the price volatility associated with this material is projected to have an impact on final product prices, consequently hindering market growth to some extent. The regulations governing safety standards and the hazards posed by chemical compounds also apply to expanded polypropylene foam. Companies involved in the manufacturing and marketing of products in Europe must identify and manage the dangers associated with their products in order to comply with it
- The rising use of the product in consumer products such as appliances, toys and electronics the medium-density product sector is predicted to increase at the second-fastest rate throughout the projection period. The rapidly growing consumer goods business in key economies throughout the world is likely to fuel segment expansion.
- Throughout the forthcoming years, China is expected to remain one of the important countries for EPP foam makers. The country is likely to remain East Asia's biggest consumer and producer of expanded polypropylene foam. The market for EPP foam in China is likely to rise further in the future decade as the packaging, construction and automotive sectors continue to expand.
- Market players are adopting many strategies such as acquisition, mergers, contract, agreement and partnership to expand their business.
- Kaneka Corporation stated in August 2017 that it would develop a new manufacturing plant in Rayong, Thailand, to produce expanded polyolefin foam. To meet the growing demand in Southeast Asia and India, an investment of $18 million was made to build a production capacity of 3,000 metric tons per year.
- Kaneka Corporation announced a USD 17 million investment in January 2018 to boost capacity for Eperan expanded PE and PP particle foams at its Westerlo plant in Belgium. This expansion was done with the goal of increasing Eperan foam penetration throughout Europe and other parts of the world. This will also strengthen the company's global supply network.
Key Benefits of the Report
- This study presents the analytical depiction of the expanded polypropylene (EPP) foam industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the expanded polypropylene (EPP) foam market share.
- The current market is quantitatively analyzed to highlight the expanded polypropylene (EPP) foam market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed expanded polypropylene (EPP) foam market analysis based on competitive intensity and how the competition will take shape in coming years
Expanded Polypropylene (EPP) Market Report Highlights
By Product Type
By End-User Industry
Key Market Players
Borealis AG, Sekisui Chemicals Co., Ltd., DowDuPont, KAYABA INDUSTRY Co., Ltd., BASF SE, Honda Motor Co., Huntsman International LLC, JSP Corporation, SABIC, ExxonMobil