Expanded Polypropylene (EPP) Foam Market By Type (Low Density, High Density & Porous PP), Application (Automotive, Packaging, Consumer Products), And Region (North America, Europe, Asia-Pacific) - Global Forecast To 2021
NEW YORK, Nov. 2, 2016 /PRNewswire/ -- "Light weight and shock absorption properties of expanded polypropylene foam expected to drive the market" The global expanded polypropylene (EPP) foam market is estimated to reach USD 1,525.1 million by 2021, at a CAGR of 11.41% from 2016 to 2021. The market is driven by the increasing penetration of expanded polypropylene foam in automobiles for weight reduction and in the packaging application due to its light weight and shock absorption properties. Volatility in raw material prices directly impact the prices of expanded polypropylene foam, which acts as a restraint for the market. "Porous PP is the fastest-growing type in the expanded polypropylene foam market"Porous expanded polypropylene foam is in the form of cylindrically shaped propylene beads. This foam has a ten times greater capacity to absorb sound and vibrations than the other grades of expanded polypropylene foam. This foam is highly durable, has high structural integrity, and helps in noise reduction due to its porous structure. JSP Corporation ( Japan) is the market leader in the porous expanded polypropylene foam market. Automobile manufacturers are focusing on increasing the use of this foam in automobiles due to its unique properties. "Rising demand from end -users in Asia-Pacific is the key driver of the global expanded polypropylene foam market"The Asia-Pacific region is the fastest-growing market for expanded polypropylene foam, in terms of both, value and volume. High growth rate, growing purchasing power, developing infrastructure, increasing demand from end-use industries, and the global shift in production capacity from developed markets to emerging markets are the major factors leading to the growth of the expanded polypropylene foam market in this region.