Product – Segment analysis
Co-polymer is expected to be the fastest-growing segment of the Extruded Polypropylene (XXP) Foam Market during the forecast period. Co-polymer extruded 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. In automotive end-use industry, co-polymer extruded XPP foam is used in door liners, engine shields, and roof/trunk liners. Co-polymers is a bit softer but has better impact strength. It’s tougher and more durable than homopolymer XPP foam. The use of Co-polymer XPP foam in these applications helps in impact protection and weight reduction of vehicles.
End Use -Segment Analysis
Automotive sector is expected to be the largest market for the Extruded Polypropylene Foam (XPP) market because according to the International Organization of Motor Vehicle Manufacturers the Global commercial vehicles sales is likely to reach 100 Million very soon. In automotive sector, vehicle weight reduction has become the most challenging requirement faced by automotive manufacturers and suppliers. Original Equipment Manufacturing (OEM) use XPP foam to produce vehicles that are lightweight, energy efficient, and sustainable. It is also used in combination with metals to improve energy absorption and distribution. Apart from this, it is also used in a variety of parts such as bumper fascias, instrumental panels, and door trims. The low density and recyclability properties are expected to drive the use of XPP foam in the automotive industry during the forecast period.
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Geography – Segment Analysis
Europe has dominated the Extruded Polypropylene (XPP) Foam market with a share of more than 35%. Europe is the biggest importer of polypropylene, followed by APAC and North America. Countries such as – Germany, Italy, Belgium, France and many others are the main importers of Polypropylene in Europe. According to the production statistics of 2018 released by International Organization of Motor Vehicle Manufacturers, Countries such as Germany, Italy, Belgium, France comes under the top 20 countries throughout the globe. With Belgium producing most vehicles among them and ranked 3rd in the world, Whereas France, Germany and Italy had ranked 11th, 12th & 17th respectively.
Drivers – Extruded Polypropylene (XPP) Foam Market
- Recyclability of XPP foam
Extruded Polypropylene (XPP) Foam Markets widely used in packaging applications. The packaging industry is driven by the need for solutions that offer cost performance and reduce environmental impact. XPP foam is an excellent sustainable product packaging solution. It is biodegradable and can be recycled easily. This will assist in fostering the development of an eco-friendly environment. This is propelling the demand for global XPP foam market. The increasing awareness and focus towards a greener environment are expected to open huge opportunities in the global XPP market during the forecast period. The stringent rules by governments worldwide regarding the use of biodegradable materials will further boost the demand for XPP foam.
- Growing demand for XPP in automobiles for weight reduction
The growth of the market in the automotive industry will increase the use of Extruded Polypropylene (XPP) foam in vehicle manufacturing for producing lightweight, energy efficient, and sustainable cars. It is also driven by the growing automotive production, globally. XPP foams have an excellent moisture barrier and chemical resistance which are important for durability and functionality in the presence of hot oil, grease or fuel. Its high heat stability also opens the possibility for under the bonnet applications. XPP foams also have very good cushioning properties, thereby contributing to improved driver and passenger safety.
Challenges – Traffic Marking Paints Market
- Thermal expansion in Polypropylene
Polypropylene has a high thermal expansion coefficient which limits its high temperature applications. So, during use of Extruded Polypropylene (XPP) in the automotive sector, Industries need to be cautions because this material can only be used, where it should not have any contact with high temperature. If it comes in contact with the high temperature the polypropylene will change its shape. So, the automotive industry need to be always cautions while using this material and since polypropylene is highly flammable also so, continuous contact with high temperature would be life threat also.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Extruded Polypropylene (XPP) Foam Market. In 2019, the market of Extruded Polypropylene has been consolidated by the top five players accounting for xx% of the share. Major players in the Extruded Polypropylene (XPP) Foam markets are – Borealis, Mitsui Chemicals, BASF, Sekisui Voltek and Sonoco Products, among others.
- In June 2018, Toray Industries acquired a plot measuring about 350,000 m2 in Andhra Pradesh, India, for its local subsidiary Toray Industries (India) Private Limited. The company has decided to establish a new base for its polypropylene (PP) spunbond for hygiene materials business, whose market is expected to expand along with the increasing demand for disposable diapers
- In May 2017, Borealis had planned to expand its presence by constructing a new compounding plant in Northern California in North America. It is expected to produce 30 kilotons per annum of Daplen and Fibremod PP compounds for the automotive industry by early 2019.
- Europe dominates the Extruded Polypropylene (XPP) Foam Market as, Europe is the largest importer of Polypropylene.
- Rise in demand of lunch boxes, containers, Ropes, Lab equipments and others, are likely to aid in the market growth of XPP foam.
- Increasing adoption of sustainable and environment friendly products, implementation of stringent government regulations related to Extruded Polypropylene (XPP) Foam Market will increase the market demand for Extruded Polypropylene.
- Polypropylene has a high thermal expansion coefficient which limits its high temperature applications which will create small hurdles for the Extruded Polypropylene (XPP) Foam Market.
Related Reports :
1. Expanded Polypropylene (EPP) Foam Market
2. Core Materials Market
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