Global Expanded Polypropylene Foam Market Size & Outlook
Global expanded polypropylene foam market, 2018-2030 (US$M)
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Global expanded polypropylene foam market highlights
- The global expanded polypropylene foam market generated a revenue of USD 984.0 million in 2022 and is expected to reach USD 2,306.5 million by 2030.
- The market is expected to grow at a CAGR (2023 - 2030) of 11.2% by 2030.
- In terms of segment, high density accounted for a revenue of USD 416.4 million in 2022.
- High Density is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2022.
- Country-wise, South Africa is expected to register the highest CAGR from 2023 to 2030.
Global data book summary
| Market revenue in 2022 | USD 984.0 million |
| Market revenue in 2030 | USD 2,306.5 million |
| Growth rate | 11.2% (CAGR from 2022 to 2030) |
| Largest segment | High density |
| Fastest growing segment | High Density |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | High Density, Low Density, Medium Density |
Other key industry trends
- In terms of revenue, the North America accounted for 29.4% of the global expanded polypropylene foam market in 2022.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, South Africa is the fastest growing regional market and is projected to reach USD 38.8 million by 2030.
High density was the largest segment with a revenue share of 42.32% in 2022. Horizon Databook has segmented the Global expanded polypropylene foam market based on high density, low density, medium density covering the revenue growth of each sub-segment from 2018 to 2030.
The growth in automotive industry directly influences the growth of related industries such as steel, plastics, and aftermarket services. Automotive market is the largest end user of expanded polypropylene foam and molded products for numerous applications owing to the improved mechanical and chemical properties offered by EPP foam.
The technological changes in automotive industry and the growing focus on energy efficient, light, and durable materials have led to the use of PVC, PE, PU, PP, and acrylic materials for auto parts including trim components, floor, hood & door panels, and bumper parts.
Vehicle production in Asia Pacific has seen rapid growth owing to the increasing demand for passenger cars in China and India. In addition, the presence of major players, such as Hyundai, Nissan, Toyota, Tata, Maruti, and Isuzu among others, in the region has led to the rapid market growth.
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Expanded Polypropylene Foam Market Scope
Expanded Polypropylene Foam Market Companies
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Global expanded polypropylene foam market size, by regions, 2018-2030 (US$M)
Top 10 countries: Expanded polypropylene foam market size, 2022 (US$M)
Global expanded polypropylene foam market share, by product, 2022 & 2030 (%, US$M)
Expanded polypropylene foam market: Opportunity assessment by country
Global expanded polypropylene foam market, by region, 2022 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 257.6 | 270.0 | 262.8 | 272.5 | 289.1 | 311.5 | 339.4 | 373.4 | 412.3 | 460.5 | 520.5 | 593.8 | 683.0 | 11.3% |
| Europe | 131.7 | 137.6 | 133.3 | 137.7 | 145.6 | 156.2 | 169.5 | 185.8 | 204.3 | 227.3 | 255.9 | 290.8 | 333.1 | 10.9% |
| Asia Pacific | 352.7 | 370.8 | 362.0 | 376.6 | 400.8 | 433.1 | 473.5 | 522.5 | 578.6 | 648.3 | 735.0 | 841.1 | 970.4 | 11.7% |
| Latin America | 82.5 | 85.8 | 82.7 | 85.0 | 89.4 | 95.4 | 103.1 | 112.4 | 123.0 | 136.1 | 152.5 | 172.4 | 196.5 | 10.4% |
| MEA | 55.4 | 57.4 | 55.2 | 56.5 | 59.1 | 62.8 | 67.5 | 73.2 | 79.6 | 87.6 | 97.4 | 109.3 | 123.6 | 9.7% |
| Overall | 879.9 | 921.5 | 896.0 | 928.2 | 984.0 | 1,059.0 | 1,153.0 | 1,267.3 | 1,397.8 | 1,559.9 | 1,761.3 | 2,007.4 | 2,306.5 | 11.2% |
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