According to MRFR analysis, Expanded Polypropylene Market is projected to register a CAGR of over 5.4% to reach over USD 2.1 Billion by the end of 2027.
Expanded Polypropylene is a closed-cell bead of polypropylene that offers a unique range of properties such as excellent energy absorption, good impact resistance, thermal insulation, good water, and chemical resistance, buoyancy, exceptional toughness, and recyclability. Owing to its outstanding properties expanded polypropylene finds a wide range of applications in diverse end-use industries that includes automobile, packaging, and consumer goods, amongst others.
The key factor driving the growth of the expanded polypropylene market is its widespread usage in the automobile industry due to its exceptional properties such as lightweight, high energy absorption, enhanced functionality, toughness, and durability. Moreover, with the growing demand for lightweight and recyclable automotive components, the demand for expanded polypropylene is expected to witness a lucrative growth in the coming years.
Another major factor for the growth of expanded polypropylene market is its increasing areas of applications such as air ducts, aerospace, and building & construction, expanding production capacities of polypropylene across the globe, especially in China and Russia and favorable government policies on the use of environment-friendly and recyclable plastic components.
All the above-mentioned factors are projected to boost the demand for expanded polypropylene during the review period.
The global production of polypropylene has reached around 80 million tons in 2018 with China holding around 25% of global production. Further, a rise in polypropylene capacities is witnessed in Russia over the past few years. However, the expanding capacities of polypropylene has led to the oversupply affecting the pricing of the polypropylene globally.
Expansion in Production pf Polypropylene
|Market Size||USD 2.1 Billion (2027)|
|CAGR||CAGR of over 5.4% (2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||JSP Corporation (Japan) Kaneka Corporation (Japan), Hanwha Chemical, Corporation (South Korea), BASF SE (Germany), The Dow, Chemical Company (US), DS Smith Plc (UK), Sonoco Products Company (US), Chemische Fabrik Budenheim Kg (Germany), Automa Multi Styrene (South Africa), Clark Foam Products (US)|
|Key Market Opportunities||The growth of global expanded polypropylene market is its increasing areas of applications such as air ducts, aerospace, and building & construction, expanding production capacities of polypropylene across the globe, especially in China and Russia and favorable government policies on the use of environment-friendly and recyclable plastic components|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The calculated CAGR for the Global Expanded Polypropylene Market is over 5%.
Global Expanded Polypropylene Market will be expecting valuing USD 2.1 Billion by the end of 2027.
The key factor raising the shares of the expanded polypropylene market is its widespread usage in the automobile industry owing to its outstanding properties such as high energy absorption, lightweight, toughness, enhanced functionality, and durability.
DS Smith Plc, The Dow Chemical Company, Sonoco Products Company, Automa Multi Styrene, Chemische Fabrik Budenheim Kg, and Clark Foam Products are the prime vendors of the market.
North America, Europe, Asia-Pacific, and Middle East & Africa are the regions mentioned in the expanded polypropylene market.