EPP foams market to grow at CAGR of 11.4% from 2014 to 2019

01-Jun-15

The current worth of the global Expanded Polypropylene (EPP) foam market is US$573.20 mln and is estimated to reach US$1225.6 mln by 2019, registering a CAGR of 11.4% from 2014 to 2019, as per MarketsandMarkets. High demand across the industries, such as packaging, bedding & furniture, building & construction, and automotive will increase the demand for EPP foams. The global EPP foam types are significantly penetrating their end-use industries market. They have different characteristics as per their manufacturing and application requirement in end products. The Asia-Pacific region is expected to dominate this market with its growing demand for EPP foams in different applications, especially in the automotive and packaging segments. The Asia-Pacific and North American markets are estimated to show a rising growth in between 2014-2019 with the allied industries expected to stabilize the overall business need in the respective regions. R&D is a key part of this market. The manufacturing companies, associations, and end-product manufacturers are investing for future advancements and technology modifications of EPP foams to match the new demands coming from various end-user industries. EPP foams are dominant among all the competitive foams available, in terms of consumption and revenue, reasoned by its optimal cost to performance factor. The Eastern and Central European and emerging Southeast Asian and Latin American nations that will host some global events are expected to be growth factors of the EPP foam market. An increase in auto sales, proposals for improvement of infrastructure, and rising housing market in emerging economies will drive the EPP foams market.