Latin America Expanded Polypropylene Foam Market Size & Outlook
Latin America expanded polypropylene foam market, 2018-2030 (US$M)
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Latin America expanded polypropylene foam market highlights
- The Latin America expanded polypropylene foam market generated a revenue of USD 89.4 million in 2022.
- The market is expected to grow at a CAGR of 10.3% from 2023 to 2030.
- In terms of segment, high density was the largest revenue generating product in 2022.
- High Density is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 89.4 million |
| Market revenue in 2030 | USD 196.5 million |
| Growth rate | 10.3% (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 |
| Key market players worldwide | JSP Corp, Basf SE, Kaneka Corp, DS Smith PLC, Furukawa Electric Co Ltd, Hanwha, Sonoco Products Co, Knauf, Crown Holdings Inc |
Other key industry trends
- In terms of revenue, Latin America region accounted for 9.1% of the global expanded polypropylene foam market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 970.4 million by 2030.
High density was the largest segment with a revenue share of 42.84% in 2022. Horizon Databook has segmented the Latin America 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 presence of oil exporting countries in the region enables a steady supply of raw materials at relatively low prices. However, the volatility associated with raw material prices has restrained the market growth. The oil shock in the recent past has majorly affected GDP growth in the region, with the current economic slowdown resulting in a slowdown in manufacturing activities in the region.
The recovery in the global oil prices is expected to aid in the recovery of major oil exporting economies in CSA, which, in turn, is expected to trigger manufacturing activities and industrial growth in the region. The presence of robust automotive and consumer goods industries in the region is expected to drive the market growth of EPP foam in end-use segments over the forecast period.
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Expanded Polypropylene Foam Market Scope
Expanded Polypropylene Foam Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America expanded polypropylene foam market size, by country, 2018-2030 (US$M)
Latin America Expanded Polypropylene Foam Market Outlook Share, 2022 & 2030 (US$M)
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