Press release
Automotive Expanded Polypropylene (EPP) Foam Explore Future Growth till 2031 with Top Players
Automotive Expanded Polypropylene (EPP) Foam Market
Foams are available in different types like polyurethane foams, poluethylene foams, olefins , polystyrene foams etc. In 2021, the automotive manufacturers are opting more for polypropylene foams in comparison to other foams due to its excellent chemical andheat resistance as well as the freedom of geometric design it offers to attract the customers.
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Growing applicability of these foams in automobiles for interior trims, bumpers, battery cases, trays, fender liners, instrumental panels and door trims continues to create high demands in the market.
The addition of eco-friendly polypropylene foams by leading corporations in 2021 like JSP Corporation and Hanwha Group is creating significant attraction among the automakers. These manufacturers are doing innovations with their offerings and are guaranteeing multiple impact resistance, buoyancy, moldability in their offerings.
Adoption of both organic as well as inorganic strategic tactics is on top priority of leading manufactures in 2021. Product approvals, product enhancements, innovations, partnerships, joint ventures, research and developments, collaborations etc are some of the tactics acquired by the marketers to combat the rising competition.
Automotive Expanded Polypropylene (EPP) Foam- Drivers
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.
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Automotive Expanded Polypropylene (EPP) Foam- Regional Outlook
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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Automotive Expanded Polypropylene (EPP) Foam- Key Players
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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