Polypropylene Foams Market to exceed USD 2.3 Billion by 2032, Says Global Market Insights inc.
Polypropylene Foams Industry size is expected to register 7% CAGR between 2024 and 2032 propelled by the growing packaging industry.
Selbyville, Delaware , Jan. 18, 2024 (GLOBE NEWSWIRE) — Polypropylene foams market size is predicted to reach USD 2.3 billion by 2032, as per a recent study by Global Market Insights Inc.
The market growth is driven by the escalating demand for lightweight materials. Industries across the spectrum, from automotive to packaging, are increasingly prioritizing weight reduction as a means to enhance fuel efficiency, reduce carbon emissions, and improve overall sustainability. With global energy-related CO2 emissions reaching a new high of more than 36.8 Gt in 2022, the governments have put in place stringent regulations to reduce such emissions, thereby fueling the adoption of polypropylene foams.
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With their impressive strength-to-weight ratio, polypropylene foams are emerging as a preferred choice for manufacturers looking to achieve these objectives. Its versatility also contributes to the widespread adoption, as they can be tailored to meet specific performance requirements in various applications.
Adoption of extruded polypropylene for thermal insulation
The extruded Polypropylene foams market segment is expected to witness substantial growth through 2032 as they offer unique advantages, including excellent thermal insulation properties, moisture resistance, and durability. These characteristics make extruded polypropylene an ideal choice for applications in construction, packaging, and automotive industries. The ability to achieve a fine, closed-cell structure enhances the insulation capabilities, making it indispensable in demanding environments. As industries continue to seek advanced materials that provide both functionality and sustainability, the extruded polypropylene will gain traction.
Improved fuel efficiency drives the usage in automotive sector
The polypropylene foams market share from automotive segment is anticipated to record strong CAGR from 2023 to 2032, propelled by the ongoing push for reducing the vehicle weight and improving fuel efficiency. Polypropylene foams find extensive use in automotive interiors, such as door panels, instrument panels, and seating components, where their lightweight nature contributes to overall vehicle weight reduction. Additionally, the superior impact resistance and sound absorption properties of polypropylene foams enhance the safety and comfort aspects of vehicles. With the automotive sector continually evolving to meet stringent environmental regulations and consumer preferences, the demand for polypropylene foams is growing.
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Shift towards sustainability to push Europe market growth
Europe global polypropylene foams market will expand significantly through 2032, driven by the stringent environmental regulations and sustainability initiatives. The packaging industry in Europe is witnessing a shift towards sustainable and lightweight materials. Additionally, the robust automotive sector in the region, with a focus on electric vehicles and fuel efficiency, further boosts the demand for lightweight materials like polypropylene foams. The continuous innovations and environmental consciousness in Europe will play a pivotal role in shaping the trajectory of the global polypropylene foams industry.
Some of the major leaders in the worldwide polypropylene foams market are SEKISUI CHEMICAL CO., LTD., BASF SE, Kaneka Corporation, Toray Industries Inc., ACH Foam Technologies LLC, Armacell, JSP Corporation, Borealis AG, SABIC, Rogers Corporation, Recticel, RTP Company, INOAC Corporation, Zotefoams plc, and Pregis LLC.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
CONTACT: Aashit Tiwari Corporate Sales, USA Global Market Insights Inc. Toll Free: +1-888-689-0688 USA: +1-302-846-7766 Europe: +44-742-759-8484 APAC: +65-3129-7718 Email: [email protected]
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