A new market research report introduced by TechSci Research provides an overall analysis of Global Extruded Polypropylene (XPP) Foam Market. The presented market report will incorporate all the major factors and advancements that assume an imperative role in market growth in the anticipated range of 5 years. It likewise introduces the overview of industry players, preferences, challenges the market is experiencing. The research report gives an entire comprehension of the Global Extruded Polypropylene (XPP) Foam Market in terms of revenue.
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Global Extruded Polypropylene (XPP) Foam Market is projected to reach 1.48 Billion by 2023, at a CAGR of over 6% during the 2019-2023. The rising packaging industry and growing demand for lightweight packaging and high melt strength properties is expected to further boost market demand. The demand for XPP foam is anticipated to grow rapidly owing to increasing demand from automobile manufacturing industries that are adopting new technologies aimed at weight reduction of automobiles. Based on type, the market has been segmented into Low-Density XPP Foam (40-200 Kg/M3) and High-Density XPP Foam (200-600 Kg/M3). In 2017, the Low-Density XPP Foam dominated the market and is anticipated to dominate the market over the next five years as well owing to increasing demand from automotive, protective packaging, and insulation applications.
Based on end-use industry, the market has been segmented into Automotive, Packaging, Building & Construction and Others. In 2017, the automotive segment dominated the XPP Foam market owing to growing automotive industry and growing use of XPP Foam in bumpers, floor acoustic barriers, sun visors, side door panels etc. in automobiles.
Some of the leading players in the Global Extruded Polypropylene (XPP) Foam Market are Mitsui Chemicals, Borealis, NMC SA, Pregis, Sonoco, Sohner Plastics, Furukawa Electric, Sumitomo Chemical, JSP Corporation etc.
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