EPP Foam Market to Achieve $1.8 billion by 2028, at a CAGR of 5.7%
The global EPP foam market is projected to grow from USD 1.4 billion in 2023 to USD 1.8 billion by 2028, at a CAGR of 5.7% during the forecast period. EPP foam is known for being exceptionally lightweight and providing excellent durability and impact resistance. This makes it a popular option in industries such as automotive and aerospace, where light and sturdy materials are required.
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Companies such as BASF SE (Germany), JSP Corporation (Japan), Hanwha Advanced Materials (South Korea), BEWI (Norway), and Sonoco Products Company (US) fall under the winners’ category. These are leading players in the EPP foam market globally. These players have adopted the strategies of expansions, investment, new product launches, collaboration, agreements, mergers, and acquisitions to fulfill the rising demand for EPP foam on the regional and global levels.
BEWI
BEWI is a leading European provider of sustainable packaging and insulation solutions, including products made from EPP foam. The EPP foam products from BEWI are made to be used in a variety of industries, including construction, packaging, automotive, and more. BEWI is a leader in developing products constructed of premium EPP foam that provide outstanding insulation, shock absorption, and durability. In May 2022, BEWI acquired Jablite Group, a leading UK insulation and packaging company.
JSP Corporation
JSP Corporation is a renowned leader in providing exceptional EPP foam solutions. The remarkable energy absorption and impact resistance of JSP’s EPP foam is widely recognized. This makes it an ideal material for automobile bumpers, headrests, and interior padding, all of which improve passenger safety. In January 2022, JSP International Sarl acquired a substantial 35% ownership stake in GHEPI. This acquisition aims to establish a Center of Excellence dedicated to plastics injection molding and EPP development techniques.
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Kaneka Corporation
Kaneka Corporation is well renowned for its cutting-edge EPP foam products. The outstanding thermal insulation properties of Kaneka’s EPP foam make it a viable material for temperature-sensitive packaging applications. Because of its insulating characteristics, products are protected from temperature changes while transported, maintaining their integrity and quality. In March 2022, Kaneka developed a new grade of the EPERAN series. It contains 25% of the recycled content from end-of-life EPP parts.
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