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Automotive Expanded Polypropylene (EPP) Foam Market Reveals Key Growth Driver for 2018-2027

07-25-2018 02:23 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

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Automotive Expanded Polypropylene (EPP) Foam Market Reveals

A bead foam which is utilized in the applications such as industrial and automotive packaging is known as expanded polypropylene foam. This foam shows unique and exceptional properties like impact resistance, thermal insulation, water & chemical resistance and outstanding energy absorption. Owing to its unique abilities of cushioning and its flexibleness that offers tremendous protection to composite shapes, automotive expanded polypropylene foams are widely used in industrial packaging. There are basically two types of automotive expanded polypropylene foams such as low and high density expanded polypropylene foams which are available in various densities. An expanded polypropylene foam with high grade density displays outstanding strength and reduced property of weight. These foams are utilized in application where the critical parameter is the management of energy. This is the precise reason that such foams are used in automotive applications such as bumpers and other passenger safety parts. On the other hand low density foams are utilized in the applications such as industrial packaging, while medium density foams are applicable to furniture and other consumer products.

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One of the most significant factors which is creating robust growth in the automotive expanded polypropylene foam market is growing awareness about environmental concerns and rising demand for light weight and fuel efficient cars. The overall development of automotive sector and growing production and consumption of automobiles worldwide is likely to fuel the growth of automotive expanded polypropylene market. Growing application of expanded polypropylene foam in wide-ranging industries like automotive, packaging and aerospace due to its light weight and recyclable properties. This foam is light weight, moreover it has outstanding strength along with improved absorption capabilities. These properties increase the use of expanded polypropylene in those automotive parts that are crash prone. Another reason for the greater boost of automotive expanded polypropylene foam market is the utilization of higher density foam in heavy industrial packaging.

Automotive expanded polypropylene foam market is segmented into various regions such as Asia-Pacific, Japan, North America, Europe, MEA and Latin America. By the end of 2016, North America region grabbed remarkable share in the automotive expanded polypropylene foam market. This is due to growing production of vehicle in the region. Asia Pacific region is likely to register high Compound Annual Growth rate throughout the projected period due to rise in the manufacturing of premium and light weight vehicles in developing countries such as Korea, China and India. Apart from North America and Asia-Pacific region, Europe is also exhibiting good growth of expanded polypropylene foam market. This growth of a market in Europe is due to its application in construction, consumer products, and building & construction. Growing constructional activities are fueling the growth of the market in MEA region. On the other hand Latin America is likely to register higher growth rate throughout the projected period due to growing industrialization.

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FURUKAWA ELECTRIC CO., LTD., Sonoco Protective Solutions, Hanwha Corporation, DS Smith Plastics, BASF SE, The Woodbridge Group, JSP Corporation, Kaneka Corporation, and SSW Pearl Foam GmbH are some of the key manufacturers functioning in the automotive expanded polypropylene foam market.

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