Frequently asked questions
The global automotive expanded polypropylene (EPP) foam market was valued at USD 0.45 Billion in 2022.
The automotive expanded polypropylene (EPP) foam market is expected to grow at a CAGR of 6.80% between 2023 and 2030, reaching USD 0.71 Billion in 2030.
The molded EPP segment governs the demand for automotive expanded polypropylene (EPP) foams in the world, holding a massive share of over 80% in 2022.
The aftermarket segment is expected to post the highest CAGR during the forecast period.
Asia Pacific is fueling the growth of the automotive expanded polypropylene (EPP) foam industry, with an over one-third share in 2022.
The top players include JSP; BASF SE; KANEKA CORPORATION; DS Smith; FURUKAWA ELECTRIC CO. LTD.; Hanwha Group; Sonoco Products Company; Knauf Industries; Izoblok; DONGSHIN INDUSTRY INCORPORATED; Clark Foam Products Corporation; Paracoat Products Ltd.; Molan-Pino South Africa; Signode Industrial Group LLC; Armacel.
EPP foam is a commonly utilized Product Type in the automobile sector because of factors including low cost, high mechanical qualities, and adaptability. The major market drivers are the expanded polypropylene foam Product Forms that can reduce foam consumption by up to 7%.
The current price volatility of raw Product Types is anticipated to affect the cost of finished goods, severely limiting the expansion of the EPP market are the major market restraints.
Increasing product use for passenger safety and reducing NVH (noise, vibration, and harshness). Product Forms and escalating market expansion investments by leading players are the major opportunities in the automotive expanded polypropylene (EPP) foam industry.