PP Foams market expected to reach US$1902.5 mln by 2018

The global polypropylene foam types are significantly penetrating their end-use industries market. They have different characteristics as per their manufacturing and application requirement in the end products. The PP foams market is estimated to have a stable CAGR from 2013 to 2018 MarketsandMarkets. The current worth of the global polypropylene foams market (2012) is US$1019.9 mln and is estimated to reach US$1902.5 mln by 2018, growing at a CAGR of 11.4% from 2013 to 2018. The high demand across the industries, such as packaging, bedding & furniture, building & construction, and automotive will increase the overall polypropylene foams consumption. Almost 58.4% of the total polypropylene foam demand was for the automotive applications in 2012. The Asia-Pacific region is expected to dominate this market with its growing demand for polypropylene foams in different applications, especially the automotive and packaging segments. The Asia-Pacific and European markets are estimated to show a rising growth in the next five years 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 infuse high investments for future advancements and technology modifications of polypropylene foams to match the new demands coming from various end-user industries. Polypropylene foams are dominant among all the competitive foams available, in terms of consumption and revenue, reasoned by its optimal cost to performance factor. Asia-Pacific is the largest region, both in terms of volume and value, followed by Europe and North America. China, Japan, U.S., Germany, Brazil, and Russia are expected to persist as successful foam markets. The key players in the global polypropylene foams market are Armacell (U.S.), BASF (Germany), Borealis AG (Austria), JSP Corporation (Japan), Kaneka (Belgium), NMC Group (Belgium), Pregis (U.S.), Sekisui Alveo (Switzerland), etc. The Eastern and Central European nations, emerging South-East Asian, and Latin American nations that host the global events would supplement the growth of polypropylene foams. An increase in auto sales, proposals for improvement of infrastructure, and rising housing market in emerging economies will drive the polypropylene foams market. The polypropylene foams demand, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, expansions, agreements, and mergers & acquisitions of the leading global companies.