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Polypropylene foams market forecast to surpass revenues of US$1.9Bn by 2018

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Polypropylene Foams Market by Application: Trends and Forecasts to 2018 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-30 09:06:04
Polypropylene foams market is worth US$1,902.5 million 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 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. The market value of polypropylene foams was estimated to be $1,019.9 million in 2012 and is projected to grow with a CAGR of about 8.4% from 2013 to 2018.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 companies in this market are Armacell (U.S.), BASF (Germany), Borealis AG (Austria), SSW PearlFoam GmbH (Germany), JSP Corporation (Japan), Kaneka (Belgium), NMC Group (Belgium), Pregis (U.S.), Sekisui Alveo (Switzerland), etc. These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage and thereby serve the customers more effectively. Investments in R&D, followed by expansions were the most preferred strategies by the top players in the year 2012 which is driving the demand of polypropylene foams. Their strategy to capture the market in developing economies includes expansions and agreements.

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