Automotive application to see fastest growth in polypropylene market

28-Jan-15

Automotive application segment of polypropylene market holds the largest share in 2013 and it is also experiencing the fasted growth rate over the last few years, as per Persistence Market Research. Some of the major drivers of the global polypropylene foam market include, growing concern towards environment sustainability, strict government regulations, and the cost benefits associated with recyclable properties of polypropylene foam as polypropylene foam can be fully recycled. Moreover enhanced physical properties such as quality, lightweight nature & excellent energy absorbing property, and durability, is propelling the demand of polypropylene foam market in growing end user industries such as automobiles and food and beverages packaging. Asia Pacific is the largest producer and consumer of polypropylene foam market. It is then followed by Europe and North America. The polypropylene foam market is growing in double digit in Asia Pacific. Over the last few year China became a global hub for the automobile manufacturing. Moreover increasing automobile market in other developing countries of Asia Pacific such as India and Indonesia is expected to keep the growth rate high during the forecasted period. Germany and Italy are the biggest market of polypropylene foam in Europe owing to higher concentration of automobile manufacturers in this region.