Extruded Polypropylene (XPP) Foam Market 2020 Growing Demand, Size and Business Outlook - Borealis AG, Mitsui Chemicals Tohcello.Inc., Sumitomo Chemical

Extruded Polypropylene (XPP) Foam Market - Growth, Trends And Forecast (2020 - 2025)

Global Extruded Polypropylene (XPP) Foam market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2019 to 2024 are profiled in this report.

The Extruded Polypropylene (XPP) Foam market is highly competitive and consists of a number of major players. Top Companies like Borealis AG, Mitsui Chemicals Tohcello.Inc., Sumitomo Chemical, Pregis LLC, and NMC SA among others

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Scope of the Report

The construction industry dominated the market and is expected to grow during the forecast period. Growing applications in various end-use industries are likely to act as an opportunity in the future.

Key Market Trends

Increasing Demand from Construction Sector

- In building and construction, polypropylene foams of densities from 70 to 250 kg/m3 and film thickness of 1.5 to 6.0 mm are mostly used, particularly for interior works and housing. The parts are lightweight, stiff, show good impact and, most importantly, excellent thermal insulation properties.
- Polypropylene based foams are used as insulating materials in homes, refrigerators, and are used for several other purposes. Insulating foams helps consumers cut down their heating and cooling costs.
- With the rising number of building codes that promote energy-efficient structures, home builders and consumers are gradually moving toward building strategies that deliver performance and energy savings in the long run.
- According to the department of energy, heating and cooling costs account for 48% of the energy use in a typical US household. Extruded polypropylene foam are important solutions in improving a homes energy efficiency, along with other insulating foams, such as EPS, etc.
- According to the US Environmental Protection Agency, energy star program can save up to 11% on a person's energy bills, by adding insulation and sealing air leaks.
- If properly insulated, the spray foam insulation can also provide protection against moisture. This in turn, reduces the chances of walls developing harmful molds, mildews, etc. In addition to providing temperature and moisture control, insulation is often used to provide noise reduction. The insulation also proves to be helpful during summer season in reducing air-conditioning.

Asia-Pacific Region to Dominate the Market

- Asia-Pacific region dominated the global market share in 2018. With growing construction activities and rapid urbanization in countries such as China, India, Indonesia, Thailand, Vietnam, etc. the usage of extruded polypropylene foam is increasing in the region.
- For instance, the construction industry is among the fastest-growing industries in India. The construction sector in India has been growing rapidly with increased investment by the government. The Indian government's Housing for All by 2022 is a major game-changer for the industry. A cumulative total of USD 24.67 billion foreign direct investment has been made for the construction activities (including townships, built-up infrastructure, and construction- development projects) in the country, between the period of April 2000 to December 2017.
- The country is likely to witness an investment of around USD 1.3 trillion in housing over the next seven years, where it is likely to witness the construction of 60 million new homes. Thus, the availability of affordable housing is expected to rise by around 70% by 2024, in India.
- China has the second-largest packaging industry in the world. The country is expected to witness a consistent growth during the forecast period, owing to the rise of customized packaging, increased demand for packaged consumerist goods, in the food segment, like microwave food, snack foods, and frozen foods, etc.
- Moreover, the country witnessed rapid growth in the fast-moving consumer goods (FMCG) sector. The growth of the FMCG market was majorly driven by the increased spending on premium and healthier products by the middle-class consumers in the country.
- During 2018, express delivery companies delivered around 49 billion parcels in the country, which reflects about a 23% increase from that of the last year. With such growth in industrial and FMCG products, the packaging demand has been increasing in the country.
- This is expected to increase the demand for extruded polypropylene foam from the packaging industry during the forecast period.
- All such factors coupled with increasing consumption from other emerging economies of Asia-Pacific is driving the growth of the market in the region..

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Extruded Polypropylene (XPP) Foam Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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