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Expanded Polypropylene Foam Market Revenue and Share Analysis Report Forecast till 2031
12/10/2021
Global Expanded Polypropylene Foam Market: Overview
Rising scope of applications of expanded polypropylene foam products in various industry verticals owing to their superior durability, thermal insulation, water and chemical resistance, as well as higher scope for recyclability are driving the demand in the global expanded polypropylene foam market. These qualities of the products in the global expanded polypropylene foam market make them an extremely lucrative commodity for a range of industry verticals, including consumer goods, packaging, and automobile, among others. Polypropylene, the main component in the manufacturing processes is easily available, which has allowed several major economies to strengthen their supply of this raw material in recent years.
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Global Expanded Polypropylene Foam Market: Key Trends and Drivers
The rising penetration of products in the global expanded polypropylene foam market in various applications including packaging, furniture, as well as consumer goods is anticipated to positively influence the growth trajectory of the industry in coming years. Increasing investments in manufacturing and production activities around the world, especially in major economies are anticipated to result in rising production of consumer goods and automobiles. This is also expected to fuel demand in global expanded polypropylene foam market in coming years.
Rising demand for water proof and chemical resistance packaging solutions in consumer goods packaging industry as well as the easy availability of propylene, key ingredient used for the production of expanded polypropylene foam are also expected to fuel the demand in global expanded polypropylene foam market in coming years. On the other hand, fluctuations in the price of this raw material i.e. polypropylene may affect the prices of the final product. This trend can restrict the growth of the global expanded polypropylene foam market in coming years.
Global Expanded Polypropylene Foam Market: Major Players and Manufacturers
The global expanded polypropylene foam market can be characterised by the strong presence of various small, medium, and large distributors as well as raw material suppliers, fabricators, and manufacturers. Several players in the global expanded polypropylene foam market are witnessed to follow an integrated manufacturing chain that results in barriers for product manufacturers as well as raw material suppliers from entering the industry. Several players in the global expanded polypropylene foam market handle every part of the manufacturing chain right from production of raw materials to production of expanded polypropylene foam bead to distribution of moulded products such as moulded sheets.
Some of the key players and manufacturers in the global expanded polypropylene foam market include JSP Corp., DS Smiths PLC., Furukawa Electric Co. Ltd., BASF SE, Hanwha Corp., Sonoco Products Company, and Kaneka Corp., among others. Some of the key strategies employed by key players in the global expanded polypropylene foam market include expansions, technological collaborations, mergers and acquisitions, as well as distribution agreements, among others.
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Global Expanded Polypropylene Foam Market: Regional Assessment
Regionally, Asia Pacific is anticipated to account for a major share in the global expanded polypropylene foam market in coming years. This major industry position of Asia Pacific expanded polypropylene foam market can be attributed to rising product demand among various industry verticals, including packaging as well as consumer goods. Furthermore, fast paced growth of the automotive industry in Asia Pacific is also expected to bolster the expansion of the Asia Pacific expanded polypropylene foam market in coming years.
Moreover, another region expected to witness significant growth opportunities in the global expanded polypropylene foam market is Europe. This trend can be attributed to recovering automotive industry in the region as well as rapid emergence of consumer goods market in several major countries in the region such as France, Russia, Germany, and Spain. Furthermore, strong presence of major original equipment manufacturers in automotive industry are also expected to support the expansion of Europe expanded polypropylene foam market in near future.
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