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(IT-NEWSWIRE.COM, March 27, 2020 ) Market Overview
The Global Extruded Polypropylene (XPP) Foam Market is expected to grow at a CAGR of 6.9% during the forecasting period (2019-2026).
Extruded Polypropylene (XPP) foam sheets, having unique closed cell structure, with expansion ranging from 2 to 5 times by foam extrusion. The material has a wide range of features offering a better alternative to plywood, cardboard, corrugated plastic, solid PP or HDPE sheet.
XPP market is divided into type and end user industry. By type, the Extruded Polypropylene (XPP) Foam market is segmented into low-density, and high-density. By application, this market is segmented into automotive, packaging, building & construction, and electrical & electronics. Whereas by geography the market is divided into North America, South America, Europe, Asia Pacific and Rest of the World.
The automotive industry dominates the consumption of low-density XPP foam. The use of low-density XPP foam in automotive applications helps in impact protection and weight reduction of vehicles.
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Market Dynamics
The increasing demand for XPP foam from the automotive end-use industry is expected to drive the growth of the XPP foam market.
After years of strong growth, global automobile sales were broadly flat in 2018, on account of slump in demand in the world's major market, China. Trade tensions between U.S and China is one of the factor behind the slowing down of economy and thus auto industry.
Jaguar Land Rover have figured out decline in the company sales due to poor Chinese demand, while Ford has pulled plans to sell a Chinese made Ford focus in the US because of the impact of trade tariffs.
Moreover in Europe emission norms have led to the major drop in diesel vehicle sales, contributing to a 7% fall in new car registrations in the UK in 2018.
While the fourth largest automobile industry in the World, India have slowdown in the automobile sales owing to the liquidity issues in the financial sector, followed by mandatory transition to the Bharat stage VI vehicles is also one of the factor have lead to the poor demand.
Although the conventional fuel vehicle sales have been negative , However, Electric vehicles sales continues to grow rapidly. In 2018, the global electric car fleet exceeded 5.1 million, which has advanced by 2 million from 2017, almost doubling the number of new electric car registrations.
Government policies continue to have a major influence on the development of electric vehicles. Further technological advancements, investments flow for the electric vehicle infrastructure development and price reductions of electric vehicles are driving the electric vehicles sales.
Moving forward turmoil in the current automobile industry is anticipated to settle down in the near term and improving environment for electric vehicles production to bring 350 million electric vehicles on the road by 2040, these prospects to aid extruded polypropylene foam demand.
Market Segmentation
By type, the extruded polypropylene (XPP) foam market is segmented into low density, and high density. The global extruded polypropylene (XPP) foam market size by low density type was worth USDXX million in 2018 and is estimated to reach USDXX million by 2026, at a CAGR of XX% during the forecast period. low density type XPP foam is expected to grow with high CAGR rate in the forecast period.
A wide range of blend compositions can be used in order to reach low density (
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
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