Polypropylene Foams Market Projected to Grow $1,902.5 Million by 2018 - Report by MarketsandMarkets
(PRWEB) August 15, 2014 -- The Report “Polypropylene Foams Market by Application, by Type & Geography - Trends and Forecasts to 2018” report analyzes the global polypropylene foams market with respect to market drivers, opportunities, and trends in different regions.
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The global demand for polypropylene foams is increasing rapidly due to their better performance compared to the competitive foams. Expanded polypropylene foams (EPP) and extruded polypropylene foams are the two important types of polypropylene foams. The demand for these foams is anticipated to grow due to their acceptance in the industry and end-user demand for high quality foam materials. The polypropylene foams are generally clubbed with polyethylene foams and are widely known as olefin or polyolefin foams.
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Currently, the demand of polypropylene foam is driven by the global automotive and packaging applications’ demand supported by stringent government regulations, increasing pressure for lightweight and durable foams, and the need for improving the standard of processing and manufacturing end-products. Recyclability is a growing concern which could push the market, as the polypropylene foams are 100% recyclable among the competing foams. The durability and lightweight nature of polypropylene foams creates a significant impact on the various application markets and is already replacing polyurethane and polystyrene foams in some application segments. It meets the requirements of thermal conductivity, distinct density requirements, and other characteristics across the different industry verticals and is an excellent performer compared to other materials.
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There are various markets, especially in Asia-Pacific and ROW region, where the volumetric consumption of polypropylene foam products is increasing due to new projects and environmental rules and regulations. Thus, the investments are quite low for these products in various countries of the aforementioned regions. However, the consumption has increased considerably in the past two years and it is expected to improve in the next five years. The increasing purchasing power in developing countries, economic growth, potential projects supported by respective governments, and need for high performance products may add to the greater demand in the future.
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In terms of market activities, expansion was the most preferred development strategy. Most of the developments are seen in the year 2013 in the European region.
The current worth of the global polypropylene foams market is $1,019.9 Million and is estimated to reach $1,902.5 million by 2018, growing at a CAGR of 11.4%. The high demand across the industries, such as packaging, bedding & furniture, building & construction, and automotive will increase the overall polypropylene foams consumption.
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