Global Polypropylene Foams Market By Type (EPP, XPP), Application (Automotive, Packaging, Consumer Products, Others), End-User (Automotive, Packaging, Consumer Products, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
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Global Polypropylene Foams Market is expected to rise from its initial estimated value of USD 1.02 billion in 2018 to an estimated value of USD 1.65 billion by 2026, registering a CAGR of 5.4% in the forecast period of 2019-2026. This rise in market value can be attributed to the increase in Ideal performance, durability and light weight of polypropylene.
Key Market Competitors:
Few of the major competitors currently working polypropylene foams market are
- BASF SE (Germany),
- KANEKA CORPORATION (Japan),
- Hanwha Group (South Korea),
- Mitsui Chemicals, Inc. (Japan),
- Borealis AG (Europe),
- FURUKAWA ELECTRIC CO., LTD. (Japan),
- Sonoco Products Company (US),
- DS Smith (UK),
- K. Nag Ltd. (India),
- Pregis LLC (US),
- Sekisui Alveo (Switzerland),
- Synbra B.V. (Europe),
- Woodbridge (Canada),
- NMC Healthcare (UK),
- CLARK FOAM PRODUCTS (USA),
- Mammoth Products, Inc. (USA),
- Miles Manufactured Products Inc.,
- Quality Foam Packaging, Inc. (USA),
- Johnson Plastics Plus (US),
- Williams Foam (USA)
Market Definition: Global Polypropylene Foams Market
Polypropylene is a thermoplastic polymer which can be readily formed by catalytic polymerization of propylene. Polypropylene foams are used for the packaging purpose and is durable and light weight. There is a growing demand for polypropylene foams in automotive, packaging and consumer products activates, which is expected to be one of the major drivers of the market over the next seven years.
- Due to sustainable and eco-friendly, this significant act as a driver to market.
- High price of polypropylene foams, due to high cost this act as restraints to the market.
- Low awareness about polypropylene foams, due to Low awareness, this act as restraints to the market
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Segmentation: Global Polypropylene Foams Market
- Consumer Products
- Food Grade
- Medical Grade
- Consumer Products
- North America
- South America
- Middle East and Africa
Key Developments in the Market:
- In October 2018, Sonoco announced Acquisition of Conitex Sonoco Joint Venture, Conitex Sonoco is a vertically integrated global leader in the manufacture of paper-based cones and tubes used in the textile industry.
- In January 2017, Johnson Plastics announced full integration of Johnson Plastics and Bur-Lane, Inc. with the launch of Johnson Plastics Plus. Johnson Plastics Plus customers have access to the largest full product offering in the industry from both Bur-Lane and Johnson Plastics, providing more choices than ever before.
Global polypropylene foams market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of polypropylene foams market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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