The XPP foam market is projected to grow from USD 751.0 million in 2018 to USD 1,048.8 million by 2023, at a CAGR of 6.9% between 2018 and 2023. The growth of the XPP foam market is primarily driven by the increasing demand from the automotive end-use industry due to its inherent characteristics such as light weight, temperature resistance, abrasion resistance, shock absorption, high melt strength, and recyclability. XPP foam is widely used in bumpers, floor acoustic barriers, sun visors, side door panels as energy absorbers, headliners, and so on. It is becoming a preferred choice in the automotive industry as it offers high impact strength while enabling weight reduction.

The low-density type segment of XPP foam is projected to register the highest CAGR, in terms of both volume and value, during the forecast period. Low-density polypropylene foam is widely preferred in automotive, protective packaging, and insulation applications due to its properties such as recyclability, light weight, energy efficiency, and sustainability.

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The automotive end-use industry is projected to be the fastest-growing segment, in terms of both volume and value, during the forecast period. XPP foam is becoming one of the fastest growing polymer foams used in the automotive industry due to its inherent advantages such as low density and recyclability. These properties make XPP foam a preferred choice for OEM manufacturers to produce vehicles that are lightweight, energy efficient, and sustainable. It is generally used in bumpers, sun visors, front duct, floor duct, side door panels, seat & headrest, headliners, and so on.

APAC is expected to be the largest and the fastest-growing market for XPP foam. The dominance of APAC is mainly backed by the rapid economic growth and growth of automotive, packaging, building & construction, and other end-use industries in the region. Rapid industrialization coupled with the improved standard of living also positively influences the growth of the market in the region. The region is a favorable destination for manufacturers of XPP foam due to the low cost of production and increasing demand from automotive end-use industries, especially from emerging countries, such as India and China.

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