The EPP foam market is projected to grow from USD 1,253 Million in 2020 to USD 1,619 Million by 2025, at a CAGR of 5.3% between 2020 and 2025. Recyclable & reusable properties, optimum performance, and low weight of EPP foam are driving the market are expected to impact the demand for EPP foam positively.
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High density segment is estimated to account for the largest share of the overall market during the forecast period.
High-density EPP foams possess high compressive strength and energy absorption characteristics compared to low-density EPP foams. They are extensively used to attain high energy absorption to optimize energy management. They offer good stability, high strength-to-weight ratio, and load-bearing structural support. These foams are used in automotive bumpers and interior passenger safety components. In the packaging industry, they are used where rigid and high structural strength foams are required.
Packaging projected to register the highest CAGR
EPP foam is used in protective packaging applications due to its smooth & compact surface, good chemical resistance, excellent fabrication capability moisture, fungal resistance, and low water absorption properties. EPP foam is a lightweight material that is relatively easy to manufacture and customize. This factor makes it affordable. The overall packaging industry is driven by various factors, such as packaging material developments, increasing awareness of environmental issues, and the adoption of new regulatory requirements on packaging recycling.
Automotive is estimated to have the largest share of the overall EPP foam market
Due to low cost, outstanding mechanical properties, and moldability, EPP foam is widely used in automotive parts. It helps in reducing vehicle weight up to 10%, allowing up to 7% fuel saving. It also helps in minimizing the release of VOCs from automotive interior parts. When EPP foam is additionally combined with metals, a greater amount of energy can be absorbed and distributed. These factors are supporting the trend of making eco-friendly vehicles.
APAC is expected to register the highest CAGR
The APAC EPP foam market is segmented into China, Japan, India, South Korea, and the Rest of APAC. The EPP foam market in APAC is projected to witness the highest CAGR in the next five years. The growth can be attributed to Recyclable & reusable properties, optimum performance, and low weight of EPP foam.
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