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The Extruded Polypropylene (XPP) Foam Market is likely to witness an impressive CAGR of 6.7% during the forecast period. The prime factor that is contributing to the demand for Extruded Polypropylene (XPP) Foam is the increasing demand for Extruded Polypropylene (XPP) Foam in various industries.
This report on the Extruded Polypropylene (XPP) Foam Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the Extruded Polypropylene (XPP) Foam Market. The report intends to present a thorough analysis of the Extruded Polypropylene (XPP) Foam Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
Extruded Polypropylene (XPP) Foam Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
Few key players operating in the Extruded Polypropylene (XPP) Foam Market are-
BASF SE
Braskem
DS Smith
Furukawa Electric Co., Ltd.
JSP Corporation
Mitsui Chemicals
NMC SA
Pregis
Toray Industries, Inc.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Extruded Polypropylene (XPP) Foam Market value and growth drivers over the trend period of 2022-27. According to the report -
Extruded Polypropylene (XPP) Foam Market is likely to witness an impressive CAGR of 8.2% during the forecast period. The mounting demand for XPP foam from the automotive end-use industry is expected to propel the growth of the global XPP foam market during the forecast period.
Segment Analysis:
Based on Type:
Based on the type, the market is segmented as low-density XPP foam (40-200 Kg/M3) and high-density XPP foam (200-600 Kg/M3). The low-density type segment held the larger share of the market in 2018. The low-density XPP foam segment leads the market driven by the growing demand from protective packaging, automotive, and insulation applications. The automotive industry commands the consumption of low-density XPP foam. The use of low-density XPP foam in automotive applications aids in weight reduction of vehicles and impact protection.
Based on Region:
In terms of regions, Asia-Pacific occupied a major chunk of the overall XPP foam market in 2018, and is estimated to maintain this trend during the forecast period. The dominance of the region is corroborated by the rapid economic growth and growth of packaging, automotive, building & construction, and other end-use industries in the region. Rapid industrialization blended with the enhanced standard of living also positively impacts the growth of the market in the region. Furthermore, the increasing disposable income in Asia-Pacific along with the high growth of the emerging economies makes it an attractive market for various end-use industries, and subsequently the XPP foam market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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