About Expanded Polypropylene
Expanded Polypropylene (EPP) is a bead foam-like plastic majorly used in the electrical, automobile and packaging applications. EPP shows efficient thermal insulation, excellent energy absorption, impact resistance, and chemical as well as water resistance. This chemical is mainly used in packaging industrial products. On the other hand, lack of bonding property leads to complexities in applying paint which might stagnate the demand for Expanded Polypropylene. However, growing automobile and aerospace development will ultimately increase the demand for Expanded Polypropylene.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.3% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Asian Vendors will contribute the maximum growth to Global Expanded Polypropylene market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
JSP Corporation (Japan), Hanwha Corporation (South Korea), Kaneka Corporation (Japan), BASF SE (Germany), Zibo Bofan Chemical Co. Ltd. (China), Wuxi Hi-Tech Precision Co Ltd. (China), China Sinopec (China), The Furukawa Electric Co.Ltd. (Japan), Woodbridge Group (Canada) and Sonoco Products Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are DS Smith Plc (United Kingdom), IZOBLOK S.A. (Poland) and Dongshin Industry Inc. (South Korea).
Segmentation Overview
AMA Research has segmented the market of Global Expanded Polypropylene market by Type (Low Density, Medium Density and High Density), Application (Automotive, Packaging, Consumer Goods, Appliances and Others) and Region.
On the basis of geography, the market of Expanded Polypropylene has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Direct Sales will boost the Expanded Polypropylene market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Colour, the sub-segment i.e. Black Expanded Polypropylene will boost the Expanded Polypropylene market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand for Highly Efficient and Smart Electrical Products and Theor Respective Components and Rising Adoption of Polypropylene Plastic in CNC Machining and Injection Molding
Market Growth Drivers:
Growing Demand from the Automobile Industry for Light Weight and Fuel Efficient Applications and Growth of Aerospace, Automobile and Packaging Industry will Ultimately Upsurge the Demand for Expanded Polypropylene
Challenges:
Limited Applications in case of High-Temperature Applications and Complexities in Painting the Polypropelene Surfaces Due to Poor Bonding Properties
Restraints:
Highly Flammable Nature of Polypropylene Plastics has Upsurging the Operational Complexity and Lack of Preferences In High Altitude Regions since Polypropelene is affected by UV degradation
Opportunities:
Increasing Applications from the Construction Industry and Introduction to Expanded Polypropylene Materials in case of 3D Printing Applications
Market Leaders and their expansionary development strategies
In August 2023, Knauf Insulation, a major EPP producer, announced a partnership with JSP Corporation, a Japanese packaging specialist, to develop sustainable insulation solutions using EPP. This collaboration aims to combine Knauf's expertise in EPP manufacturing with JSP's innovative packaging technologies.
In September 2023, JSP launched its new EPP AirPack, a lightweight and reusable packaging solution for fragile electronics. This innovative product utilizes EPP's protective and insulating properties to provide superior protection for sensitive equipment during transportation.
Key Target Audience
Expanded Polypropylene Manufacturers, Expanded Polypropylene Distributors and Suppliers, Chemical Industry Associations, Research and Development Institutes, Government Agencies, Automobile Industry Associations, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.