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Expanded Polypropylene (EPP) Foam Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Expanded Polypropylene (EPP) Foam Market is Segmented by Raw Material (Synthetic Polypropylene and Bio-based Polypropylene), Form (Fabricated EPP, Molded EPP, and Other Forms), Application (Automotive, Dunnage, Furniture, Food Packaging, HVAC, Sports and Leisure, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers the market sizes and forecasts in terms of revenue (USD million) for all the above segments.

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Market Snapshot

Expanded Polypropylene Epp Foam Market Size
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >6.5 %

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Market Overview

The Expanded Polypropylene (EPP) Foam Market size is estimated at around USD 993.81 million in 2022 and the market is projected to register a CAGR of over 6.5% during the forecast period (2022-2027).

The market was negatively impacted due to the COVID-19 pandemic in 2020. However, the condition recovered in 2021, and it is expected to observe a stable growth trajectory over the forecast period.

  • Over the short term, the non-toxic and recyclable nature of the material and the rising demand from packaging industries, are some of the driving factors which are stimulating the market demand.
  • The declining automobile Industry through previous years and higher prices among other structural foams available in the market may hinder the growth of the market.
  • On the flip side, higher prices among other structural foams are likely to act as restraints for the market studied during the forecast period (2022-2027).
  • The rising demand for bio-based polypropylene foam, its emergence as a replacement for other products, and increasing adoption of electric vehicles are l· are likely to create opportunities for the market in the coming years.
  • The Asia-Pacific region dominated the market, and it is expected to witness the highest CAGR over the forecast period.

Scope of the Report

Expanded polypropylene (EPP) is a highly versatile closed-cell bead foam that provides a unique range of properties, including outstanding energy absorption, multiple impact resistance, thermal insulation, buoyancy, water and chemical resistance, exceptionally high strength to weight ratio, and 100% recyclability. The expanded polypropylene (EPP) foam market is segmented by raw material, form, application, and geography. By raw material, the market is segmented into synthetic polypropylene and bio-based polypropylene. By form, the market is segmented into fabricated EPP, molded EPP, and other forms. By application, the market is segmented into automotive, dunnage, furniture, food packaging, HVAC, sports and leisure, and other applications. The report offers the market sizes and forecasts for 16 countries across the major regions. For each segment, market sizing and forecasts have been done on the basis of revenue (USD million).

Raw Material
Synthetic Polypropylene
Bio-based Polypropylene
Form
Fabricated EPP
Molded EPP
Other Forms
Application
Automotive
Dunnage
Furniture
Food Packaging
HVAC
Sports and Leisure
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Usage in the Automotive Industry

  • The automotive sector is currently the largest consumer of EPP foams. The demand for EPP foams has increased over the years, as the EU regulations on emissions have become more rigorous and laws on recycling of vehicles withdrawn from use have been introduced.
  • Excellent recoverability and the ability to absorb the impact energy of EPP foams increase the usage of EPP foams in bumpers. In a collision, molded EPP parts built into bumper bar systems reduce pressure and minimize the amount of impact energy transmitted to the chassis.
  • Increasing usage of EPP foams in seating and other automotive components reduces the overall weight of the vehicle by ~10%. The fuel consumption was reduced by ~7%. The share of recyclable materials in vehicles that can be reused is increasing simultaneously.
  • In addition, increasing electric cars are promoting the EPP foam market’s growth, as EPP plays a significant role in making electric cars lightweight and thermally insulated and enhancing the energy absorption capabilities.
  • EPP foams are also used in the manufacturing of door pads, headliners, and mats. They make it possible to maintain a constant air temperature in the cockpit and generate ideal conditions for battery operations.
  • The Asia-Oceania and Americas regions recorded 46.73 million and 16.15 million of total automotive production in 2021, registering an increase of 6% and 3%, respectively, compared to 2020. However, Europe recorded 16.34 million of automotive production in 2021, a decrease of 4% compared to 2020.
  • The aforementioned aspects may result in the automotive application dominating the market.
Expanded Polypropylene (EPP) Foam Market - Segmentation

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share. In Asia-Pacific, China is the largest economy in terms of GDP.
  • China is the largest consumer and manufacturer of EPP foams in the Asia-Pacific region. The growing manufacturing activities in the country are increasing the consumption of plastics and polymers in the region, which is expected to drive the expanded polypropylene (EPP) foam market.
  • The country’s automotive sector has been shaping for product evolution, with the country focusing on manufacturing products that ensure fuel economy and minimize emissions, owing to the increasing environmental concerns (due to mounting pollution in the country).
  • The Chinese automotive manufacturing industry is the largest in the world. In 2021, the automotive production in the country reached 26.08 million, which increased by 3%, compared to 25.23 million vehicles produced in 2020. The increase in automotive production is estimated to drive the demand for EPP foam.
  • Additionally, the market competition in China has become increasingly fierce in the food and beverage industry, which has enabled companies to tap into overseas markets to seek more resources and business opportunities.
  • The Indian packaging industry has made a mark with its exports and imports, thus driving technology and innovation growth in the country and adding value to the various manufacturing sectors. The packaging industry is enacting the role of catalyst in promoting the huge growth of the market studied in India. Furthermore, the country has been exhibiting a significant demand for packed foods for the past few years. This scenario is expected to continue during the forecast period, thus boosting the demand for the market studied.
  • Due to all such factors, the market for expanded polypropylene foam in the region is expected to have a steady growth during the forecast period.
Expanded Polypropylene (EPP) Foam Market - Regional Trend

Competitive Landscape

The expanded polypropylene foam market is consolidated. Some of the major players in the market include BASF SE, JSP, Hanwha Group, Bewi, and Kaneka Corporation, among others (not in any particular order).

Major Players

  1. BASF SE

  2. Hanwha Group

  3. Kaneka Corporation

  4. JSP

  5. BEWI

BASF SE, Hanwha Group, JSP, Izoblok, Kaneka Corporation

Recent Developments

  • In October 2021, BASF added a new product in its Neopolen color grade family with the introduction of NEOPOLEN P 9434 LB. The product shows high tolerance to chemicals, static and dynamic loading, and shows low water uptake tendency as well as high thermal insulation properties. The product is particularly suitable for application in toys and leisure items, dunnage trays in automotive production and others.
  • In April 2021, BEWI announced that it entered an agreement with IZOBLOK to acquire a majority stake (54.21%) of the company. In July 2021, the conditions of the agreement were concluded, and BEWI ASA became an indirect majority shareholder of IZOBLOK SA.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Non-toxic and Recyclable Nature of the Material

      2. 4.1.2 Rising Demand from the Packaging Industry

    2. 4.2 Restraints

      1. 4.2.1 Declining Automobile Industry Through Previous Years

      2. 4.2.2 Higher Price Among Other Structural Foams

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Price Analysis

  5. 5. MARKET SEGMENTATION (Market Size by Revenue)

    1. 5.1 Raw Material

      1. 5.1.1 Synthetic Polypropylene

      2. 5.1.2 Bio-based Polypropylene

    2. 5.2 Form

      1. 5.2.1 Fabricated EPP

      2. 5.2.2 Molded EPP

      3. 5.2.3 Other Forms

    3. 5.3 Application

      1. 5.3.1 Automotive

      2. 5.3.2 Dunnage

      3. 5.3.3 Furniture

      4. 5.3.4 Food Packaging

      5. 5.3.5 HVAC

      6. 5.3.6 Sports and Leisure

      7. 5.3.7 Other Applications

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 BEWi (IZOBLOK)

      3. 6.4.3 Clark Foam Products Corporation

      4. 6.4.4 Hanwha Solutions

      5. 6.4.5 JSP

      6. 6.4.6 K K Nag Pvt. Ltd

      7. 6.4.7 Kaneka Corporation

      8. 6.4.8 Knauf Industries

      9. 6.4.9 Polyfoam Australia Pty Ltd

      10. 6.4.10 Signode Industrial Group Llc

      11. 6.4.11 Sonoco Products Company

      12. 6.4.12 Woodbridge

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Demand for Bio-based Polypropylene Foam

    2. 7.2 Emergence as a Replacement for Other Products

    3. 7.3 Increasing Adoption Of Electric Vehicles

**Subject to Availability
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Frequently Asked Questions

The Expanded Polypropylene (EPP) Foam Market market is studied from 2017 - 2027.

The Expanded Polypropylene (EPP) Foam Market is growing at a CAGR of >6.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

BASF SE, Hanwha Group, Kaneka Corporation, JSP, BEWI are the major companies operating in Expanded Polypropylene (EPP) Foam Market.

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