The latest market report published by Credence Research, Inc. “Global Automotive Expanded Polypropylene (EPP) Foam Market: Growth, Future Prospects, and Competitive Analysis, 2023 – 2030”. The Global Automotive Expanded Polypropylene (EPP) Foam Market generated revenue of around USD 452.6 million in 2022 and is anticipated to grow a CAGR of over 6.8% during the forecast period from 2023 to 2030 to reach around USD 717.3 million in 2030.
Expanded polyethylene foam, often known as EPE foam, is a type of polyethylene foam. It is typically created from expanded pellets (sometimes called “EPE beads”) that are blasted into a mold and then expanded in a steam chest, similar to how expanded polystyrene foam is made. Low-density, semi-rigid, closed-cell foams of expanded polypropylene are halfway between polyurethane and expanded polystyrene in stiffness/compliance. Like expanded polystyrene foams, expanded polypropylene foams are created by starting with PE beads. The range of densities is 49 to 202 lb/cu yd (29 to 120 kg/m3), with the lower value being more typical. Due to increasing demand from sectors including automotive, industrial packaging, construction, and others, the expanded polypropylene (EPP) foam market is anticipated to proliferate during the forecast period. Given this, the demand for expanded polypropylene foam will be driven by the growth of the automotive industry and the need for innovations and technological developments.
The global automotive expanded polypropylene (EPP) foam market is bifurcated into product type, product from, sales channel, and geography. Based on product type, the automotive expanded polypropylene (EPP) foam market is categorized into Synthetic Polypropylene, Bio-Based Polypropylene, and Other Product Types. On the basis of product form, the global market is segmented into Fabricated EPP, Molded EPP, and Other Product Forms. Based on sales channels, the market is categorized into OEM (Original Equipment Manufacturer), and Aftermarket. Based on geography, the automotive expanded polypropylene (EPP) foam market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In terms of revenue, Asia Pacific retained a significant market position for diagnostics for autoimmune diseases in 2022. China is the Asia-Pacific region’s biggest producer and consumer of EPP foams. The expanded polypropylene (EPP) foam market is anticipated to be driven by the region’s rising plastic and polymer consumption due to the country’s expanding manufacturing activity.
The Automotive Expanded Polypropylene (EPP) Foam Market Major Challenges are quite significant and cannot be ignored. One major challenge that the industry faces is the increasing demand for sustainable and eco-friendly materials. As consumers become more environmentally conscious, there is a growing need for automotive parts manufacturers to use materials that have less impact on the environment. Another challenge is related to cost-effectiveness as EPP foam is relatively expensive compared to other traditional materials such as rubber or plastic. This makes it difficult for small-scale manufacturers to compete in this market, especially when they lack access to economies of scale.
Some of the key factors driving the growth of the automotive EPP foam market worldwide include:
- Lightweighting trend in the automotive industry: The automotive industry is increasingly focused on reducing vehicle weight to improve fuel efficiency and reduce emissions. EPP foam is a lightweight material that can help to achieve these goals while maintaining strength and durability.
- Increased demand for safety features: Safety is a major concern in the automotive industry, and EPP foam is used extensively in the production of safety features such as airbags, headrests, and bumper systems. As the demand for safety features increases, the demand for EPP foam is also expected to increase.
- Growth in the electric vehicle market: The electric vehicle market is growing rapidly, and EPP foam is used in the production of battery casings and other components. As the demand for electric vehicles increases, the demand for EPP foam is also expected to increase.
- Expansion of the automotive industry in emerging economies: The automotive industry is expanding rapidly in emerging economies, such as China and India. As the automotive industry in these countries grows, the demand for EPP foam is also expected to grow.
- Technological advancements in EPP foam manufacturing: Technological advancements in EPP foam manufacturing have led to improvements in the quality and performance of EPP foam. This has increased the use of EPP foam in the automotive industry, as it can now meet the stringent requirements of automotive applications.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global Automotive Expanded Polypropylene (EPP) Foam market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global Automotive Expanded Polypropylene (EPP) Foam market segmentation based on product type, product form and sales channel.
- Major countries in each region with their import/export statistics
- The global Automotive Expanded Polypropylene (EPP) Foam market report also includes analysing of the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.