The amount of quality, durability, and excellent energy absorbing qualities of polypropylene foams make it popular across different industrial applications. Growth in the applications and evolving technology is strengthening the global polypropylene foams market. EPP foams as well as its end products are gaining great strength with the constantly rising demand. This growth is expected to reflect in the overall performance of the industry across various industrial verticals and geographic regions.
Scope of Research in Polypropylene Foams Industry
In order to track the basic performance of the industry, researchers have segmented the polypropylene foams market into different segments. Detailed analysis of each of these segments helps gaining information about the latest market trends, opportunities, competitive outlook, restrains, and future business prospects. The market for polypropylene foams is segmented on the basis of the types of foams, their applications, and geographic segments based on the demand patterns.
Expanded polypropylene foams and extruded polypropylene foams are the two basic types of this foam. Each of these segments is further divided on the basis of volume and revenue. Both these types of foams are widely used across different business verticals. Segments with largest applications of polypropylene foams include automotive, consumer goods, retail, packaging, and such other verticals. Geographically, the industry is segmented into Europe, Asia Pacific, North America and rest of the world.
The global polypropylene foams market is gaining momentum since recent past. Rapid economic and industrial growth in the emerging market is the strongest driver for this market. Asia Pacific is the strongest geographic region with impressive demand in terms of volume and applications of these foams. This rise is clearly evident on the rising revenue channels in the region. Rising demand from different industrial verticals is a strong driver for the industry. Advancing technology in the industry is also a strong factor influencing this growth.
According to the market research reports, polypropylene foams market is estimated to grow at a projected CAGR of 8.4% from 2013 to 2018. During the projected period, the market is expected to grow up to anticipated market volume of around 314.3 kilo tons. Asia Pacific, especially the countries like Japan and China are expected to dominate the industry on global platform. In terms of end user segments based on industrial verticals, automotive segment is expected to record maximum growth in terms of demand, applications, and revenue.