Polypropylene Foam Market to Undertake Strapping Growth During 2020
On the basis of chemical composition the global polypropylene foam market can be broadly categorize in two different markets variant namely expended polypropylene (EPP) and Extruded poly polypropylene. On the basis of end user application of the polypropylene foam, the market can be further segmented in the four broad categories namely, automotives, packaging, consumers product and others. Automotive application segment of polypropylene market holds the largest share in 2013 and it is also experiencing the fasted growth rate over the last few years.
Some of the major drivers of the global polypropylene foam market include, growing concern towards environment sustainability, strict government regulations, and the cost benefits associated with recyclable properties of polypropylene foam as polypropylene foam can be fully recycled. Moreover enhanced physical properties such as quality, lightweight nature & excellent energy absorbing property, and durability, is propelling the demand of polypropylene foam market in growing end user industries such as automobiles and food and beverages packaging.
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Asia Pacific is the largest producer and consumer of polypropylene foam market. It is then followed by Europe and North America. The polypropylene foam market is growing in double digit in Asia Pacific. Over the last few year china became a global hub for the automobile manufacturing.
Moreover increasing automobile market in other developing countries of Asia Pacific such as India and Indonesia is expected to keep the growth rate high during the forecasted period. Germany and Italy are the biggest market of polypropylene foam in Europe owing to higher concentration of automobile manufacturers in this region. The U.S. accounts for largest market of polypropylene market in North America.
Major companies operating in polypropylene foam market include BASF S.E., Ds Smith Plc, Borealis Ag, Jsp Corporation, Kaneka Corporation., Mitsui Chemicals, Pregis Corporation, Sonoco Products Co., Synbra, Sekisui Alveo, Furukawa Electric Co., K. K. Nag Ltd., Ssw Pearlfoam Gmbh, and Zotefoams Plc.
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