The extruded polypropylene (XPP) foam market is projected to reach US$931.1 mln by 2021, at a CAGR of 7.3% from 2016 to 2021, as per Research and Markets.
The growth of the extruded polypropylene (XPP) foam market is driven by the increasing use of extruded polypropylene foams in automobiles for weight reduction. The extruded polypropylene (XPP) foams are also being increasingly used in the packaging end-use industry due to their high melt strength, excellent chemical resistance, lightweight, and high durability. Volatility in the prices of raw materials used for manufacturing extruded polypropylene (XPP) foams directly impact their prices, which acts as a restraint for the growth of the extruded polypropylene (XPP) foam market.
High density foams have higher compressive strength and energy absorption characteristics in comparison to low density foams. High density foam is mainly used in the packaging end-use industry as they have the ability to protect even the most sensitive and highest-quality products from damage even after repeated loading. They are largely used in packaging and automotive end-use industries to attain high energy absorption, which optimizes energy management. These foams offer high stability and strength, owing to their high strength-to-weight ratio and load bearing structural support. This, in turn, leads to increased adoption of high density foams in varied end-use industries, thereby fueling the growth of the high density type segment of the extruded polypropylene (XPP) foam market during the forecast period.