The changing dynamics in Extruded Polypropylene Foam Market with covid-19 impact assessment
June 03, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Extruded Polypropylene Foam Market.
It was estimated prior to this unanticipated outbreak that the Extruded Polypropylene Foam Market was expected to grow at a CAGR of 8.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Extruded Polypropylene (XPP) Foam is a kind of plastic form that is known for its environment-friendly nature. They are available in low-density XPP foam form as well as high-density XPP foam form.
Though automotive is the main application area of the extruded polypropylene (XPP) foam, but there are also other areas where it is used such as packaging, building & construction, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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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 the end-use industry type, the market is segmented as automotive, packaging, building & construction, and others. The automotive segment accounted for the largest share of the XPP foam market in 2018, and is expected to continue its dominance during the forecast period as well. There is a high demand for XPP foam in automotive and packaging end-use industries. The automotive end-use industry governs the complete XPP foam market.
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.
Key Players:
Some of the major players in the extruded polypropylene (XPP) foam market are BASF SE, Braskem, DS Smith, Furukawa Electric Co., Ltd., JSP Corporation, Mitsui Chemicals, NMC SA, Pregis, and Toray Industries, Inc.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Extruded Polypropylene Foam Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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