Polypropylene foam market size to reach $2.07 billion by 2028, and register a revenue CAGR of 6.0% over the forecast period; rising awareness regarding environmental degradation and need for more eco-friendly materials are some key factors driving revenue growth of the polypropylene foam market, says Reports and Data. Rapid global polypropylene foam market revenue growth can be attributed to the rising focus on reducing environmental degradation and negative impact globally.
Polypropylene foam is an environmentally friendly product, can be easily recycled, and is 100% non-toxic. Environmental debates and the resulting deployment of regulations over plastic materials are contributing to the rising demand for recycled polypropylene foam. The construction industry in developed and developing countries is increasingly utilizing polypropylene foam as insulating materials in homes and refrigerators as it helps in cutting down cooling and heating costs.
The rising need to deploy more energy-efficient structures and infrastructure is driving demand for polypropylene foam among builders and in smart city projects to deliver enhanced performance and energy savings. Expanded polypropylene foam is utilized increasingly in toys such as model aircraft, furniture, and other consumer products due to its lightweight and versatility as a structural material.
Increasing demand and preference towards packaged food products due to an increase in disposable income and the need for more convenient food solutions is expected to boost utilization of polypropylene foam in the packaging industry as the material has good resistance to water, oils, and many chemicals.
Manufacturers are increasingly investing in research and development activities for the production of bio-based polypropylene. For example, Borealis AG is producing Polypropylene (PP) based on Neste-produced renewable feedstock in its production facilities in Beringen and Kallo, Belgium. The replacement of fossil-fuel based feedstock with renewable feedstock for the production of polypropylene is expected to drive the growth of the global polypropylene foam market.