Expanded Polypropylene Market Scope
Expanded Polypropylene (EPP) is a bead foam-like plastic majorly used in the electrical, automobile and packaging applications. EPP shows efficient thermal insulation, excellent energy absorption, impact resistance, and chemical as well as water resistance. This chemical is mainly used in packaging industrial products. On the other hand, lack of bonding property leads to complexities in applying paint which might stagnate the demand for Expanded Polypropylene. However, growing automobile and aerospace development will ultimately increase the demand for Expanded Polypropylene.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | JSP Corporation (Japan), Hanwha Corporation (South Korea), Kaneka Corporation (Japan), BASF SE (Germany), Zibo Bofan Chemical Co. Ltd. (China), Wuxi Hi-Tech Precision Co Ltd. (China), China Sinopec (China), The Furukawa Electric Co.Ltd. (Japan), Woodbridge Group (Canada) and Sonoco Products Company (United States) |
CAGR | 7.3% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that Asian Vendors will contribute to the maximum growth of Global Expanded Polypropylene market throughout the predicted period.
JSP Corporation (Japan), Hanwha Corporation (South Korea), Kaneka Corporation (Japan), BASF SE (Germany), Zibo Bofan Chemical Co. Ltd. (China), Wuxi Hi-Tech Precision Co Ltd. (China), China Sinopec (China), The Furukawa Electric Co.Ltd. (Japan), Woodbridge Group (Canada) and Sonoco Products Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are DS Smith Plc (United Kingdom), IZOBLOK S.A. (Poland) and Dongshin Industry Inc. (South Korea).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Expanded Polypropylene market by Type , by Application (Automotive, Packaging, Consumer Goods, Appliances and Others) and Region with country level break-up.
On the basis of geography, the market of Expanded Polypropylene has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In August 2023, Knauf Insulation, a major EPP producer, announced a partnership with JSP Corporation, a Japanese packaging specialist, to develop sustainable insulation solutions using EPP. This collaboration aims to combine Knauf's expertise in EPP manufacturing with JSP's innovative packaging technologies.
In September 2023, JSP launched its new EPP AirPack, a lightweight and reusable packaging solution for fragile electronics. This innovative product utilizes EPP's protective and insulating properties to provide superior protection for sensitive equipment during transportation.
Influencing Trend:
Growing Demand for Highly Efficient and Smart Electrical Products and Theor Respective Components and Rising Adoption of Polypropylene Plastic in CNC Machining and Injection Molding
Market Growth Drivers:
Growing Demand from the Automobile Industry for Light Weight and Fuel Efficient Applications and Growth of Aerospace, Automobile and Packaging Industry will Ultimately Upsurge the Demand for Expanded Polypropylene
Challenges:
Limited Applications in case of High-Temperature Applications and Complexities in Painting the Polypropelene Surfaces Due to Poor Bonding Properties
Restraints:
Highly Flammable Nature of Polypropylene Plastics has Upsurging the Operational Complexity and Lack of Preferences In High Altitude Regions since Polypropelene is affected by UV degradation
Opportunities:
Increasing Applications from the Construction Industry and Introduction to Expanded Polypropylene Materials in case of 3D Printing Applications
Key Target Audience
Expanded Polypropylene Manufacturers, Expanded Polypropylene Distributors and Suppliers, Chemical Industry Associations, Research and Development Institutes, Government Agencies, Automobile Industry Associations, Regulatory Bodies and Others