Extruded Polypropylene (XPP) Foam Market Growth, Share, and Trends 2022

The XPP foam market is projected to grow from USD 751.0 million in 2018 to USD 1,048.8 million by 2023, at a CAGR of 6.9% between 2018 and 2023. APAC is estimated to be the largest consumer of XPP foam in 2018.

Browse 58 market data Tables and 38 Figures spread through 119 Pages and in-depth TOC on "Extruded Polypropylene (XPP) Foam Market”.

Based on type, the low-density type segment is projected to lead the XPP foam market during the forecast period.

Based on type, the low-density type segment is expected to lead the global XPP foam market during the forecast period. The growth of the low-density XPP foam market is driven by the increasing demand from automotive, protective packaging, and insulation applications. The automotive industry dominates the consumption of low-density XPP foam. It helps in impact protection and weight reduction of vehicles.

Based on end-use industry, the automotive segment is expected to lead the XPP foam market during the forecast period.

The automotive segment is expected to be the fastest-growing end-use industry of the XPP foam market during the forecast period. The growth of the market in the automotive industry is attributed to the increasing use of XPP foam in vehicle manufacturing for producing lightweight, energy efficient, and sustainable cars. It is also driven by the growing automotive production, globally.

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Borealis is one of the top players in the XPP foam market. It has an extensive product portfolio and global presence. The company is one of the leading producers of polyolefins, globally. The company provides XPP foam through its polyolefins segment which serves automotive, energy, consumer products, packaging, and pipe and fitting applications. In vehicles, Borealis polyolefin plastic materials are used in a wide range of exterior, interior, and under-the-bonnet applications, including bumpers, body panels, trims, dashboards, door claddings, climate control and cooling systems, air intake manifolds, and battery cases.

The company focuses on both organic and inorganic growth strategies to enhance its market presence and revenue. The company intends to expand its presence by constructing a new compounding plant in Northern California in North America. It is expected to produce 30 kilotons per annum of Daplen and Fibremod PP compounds for the automotive industry by early 2019. In October 2017, the company entered into a formal cooperation with Reach Plastic Industrial Co., Ltd. (Taiwan). The collaboration helps strengthen its position as a global polypropylene (PP) foam base resin and technology provider. The company is expected to be a key player in the polypropylene foam market during the forecast period.

Mitsui Chemicals is an important player in the XPP foam market. The company operates through four business segments, namely, mobility, healthcare, food & packaging, and basic materials. It offers extruded polypropylene foam products through its food & packaging segment. The company has a strong product portfolio to serve the packaging industry. It has business centers in Japan, Europe, China, Southeast Asia, and the US. It focuses on investment & expansion to cater to the demand from emerging regions.

For instance, In May 2016, Mitsui and Prime Polymer Co., Ltd. (Japan), a joint venture company of Mitsui Chemicals and Idemitsu Kosan, planned to expand its production capacity in the US, Mexico, and India for the production of PP compounds. This expansion is expected to help cater to the growing demand for polypropylene from the automotive industry.

BASF is one of the largest chemical companies, globally. The company offers XPP foam under the brand name Neopolen, which is used in a wide variety of applications such as automotive construction, electronic equipment, heating accessories, and packaging. It is also used in bicycle case for protection. The company focuses on rese.

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