Polypropylene is a common type of thermoplastic polymer. It has numerous applications across different industries including textile, stationary and packaging. Polypropylene foam is popular due to its lightweight, high quality and durable nature. Growing applications of this foam is contributing to the enormous growth in the global polypropylene foams market since the past few years. Emerging markets like Asia Pacific are creating major drive in the industry in terms of demand, applications, production and revenue channels. Business opportunities across different parts of the world are creating great prospects for the key players in this industry on global scale.
Segments in PP Foam Market
The global market is segmented on the basis of the types of products, their applications and demand trends across different geographic regions. The types include extruded foams and expanded foams. Researchers analysis these types, on the basis of their volumetric demands and revenue forecasts. Applications segment of the polypropylene foams market is sub-categorized into consumer products, automotive, textile, packaging, labeling, and such other industries. On the basis of geographic regions, the industry is segmented into North America, Asia Pacific, Europe, and the rest of the world. Analysis of all these segments provides clear picture of the overall growth and investment opportunities in future.
Drivers for the Market
According to the experts, the remarkable physical characteristics of polypropylene foam create strong demand for these products across different industrial sectors. These products are lightweight, durable, with high quality and energy absorbance that make them industrially crucial. Growth in this market is strongly steered by the emerging markets of Asia Pacific region. Strong growth in the packaging and automotive industries in this region is creating huge rise in demand for the global polypropylene foams market since past few years. Demand from the developed regions like Europe and North America is also a significant factor driving growth of the global industry.
Forecasting Reports from 2014 to 2018
Automotive industry is considered to be the strongest driver for the industry with maximum market shares. Increasing pressure of authorities for clean air and government regulations are expected to create positive prospects for this market. According to the experts, the global polypropylene foams market is expected to grow at an impressive CAGR of over 8%. During the study period, the industry is expected to have estimated volumetric reach of over volume of 314.3 kilo tons by the end of the year 2018. Asia Pacific region is expected to continue its dominance over the global market. European market is also expected to record significant rise in terms of CAGR.