Foamed Polypropylene Films Market Snapshot 2023 to 2033
The global foamed polypropylene films market is anticipated to witness a market value of US$ 8.9 billion in 2023 and is expected to harness a market value of US$ 16.2 billion by reflecting a CAGR of 6.1 % in the forecast period 2023 to 2033. The market for Foamed Polypropylene Films Market registered a CAGR of 4.7 % in the historical period 2018 to 2022.
Significant increase in demand from the major end-use industries is a further driving growth of the market. Increasing demand for durable foams and recyclable foams are anticipated to assist in expansion of foamed polypropylene films market. Other factors such as growth in automotive industry, rising disposable income and change in lifestyle among the consumers will propel the market of automotive industry which will directly benefit the market of packaging purpose foamed polypropylene films during the forecast period. The packaging industry was the most profitable end-use industry for the market. Rising preference for packed and frozen food is expected to help in growth of packaging industry and eventually benefit the overall market. A surge in demand for bio-based polypropylene is also anticipated to drive the market growth during the projected period.
The increase in demand is due to the technological advantages of foamed polypropylene such as including multiple impact resistance, excellent energy absorption, water and chemical resistance, being hygienic and easy-to-handle nature, and recyclable nature of material. These advantages offered by these films make it an ideal solution for end-user industry such as packaging and automotive sector, which further driving growth of the market.
The food packaging done from polypropylene recyclable foam is gaining popularity in recent years because of its full recyclability, water-resistant characteristics, resistant to acids and alkalis, and hot oil, cooler to the touch, reduces the carbon footprint and keeps food hotter. Moreover, Food delivery has become increasingly popular after pandemic, with a 39% increase in the last three years. This is expected to pose a rise in demand for polypropylene foams used in the packaging industry in the forecast period.
Dunnage or reusable industrial packaging has witnessed robust growth due to high demand from end-use industry applications such as furniture and toys and is eventually is expected to have a positive impact on the polypropylene foamed films market. Surging demand in the fragile goods sector is further projected to assist in growth of the global market.
Regionally, Asia Pacific is expected to be the fastest growing market for polypropylene foam with a CAGR of 6% during the forecast period. The growth is attributed to rapidly flourishing packaging and consumer durables industries as the primary growth engines. Also, this region is one of the primary consumers and producers of packaging solutions which can be attributed to the regions low labor costs, infrastructure development and favorable government policies. Also, this region is a global leader in terms of raw material production for green packaging solutions. As per European bioplastics association, Asia holds over 50% of the global production capacity for green packaging, which is further anticipated to increase in the forecast period. The region’s packaging industry is led by India and China.
The packaging industry of India is playing the role of catalyst in encouraging the huge growth of foamed polypropylene films market. Moreover, the country has been witnessing a significant demand for packed foods for the past few years. This scenario is expected to continue during the forecast period, thus boosting the demand for the targeted market.
Likewise, the Europe is expected to dominate the foamed polypropylene films market by accumulating market share of around 40% by end of the forecast period. With growing automotive industry in Europe and increasing concern about safety, consumers are shifting towards automobiles with enhanced safety options. This has led automakers in the industry to fast-track the rollout of technologies and materials that not only improve safety but also provide comfort in the vehicles. This alteration in consumer sentiments and growth in the automotive sector is expected to add to the expansion of the foamed polypropylene films market in the upcoming years. In addition, as the region has a well-incepted food and beverage industry and also one of the key exporters of alcoholic beverages and agriculture products, the demand and sales for durable packaging solutions in this region has always been high which will propel growth in foamed polypropylene films market during the forecast period.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 8.9 billion
Projected Market Value in 2033
US$ 16.2 billion
Growth Rate (2023 to 2033)
6.1 % CAGR
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How Competitive is the Market?
Latest developments in technology, mergers, acquisitions, tie-ups and partnerships within the companies involved in manufacturing foamed polypropylene films are expected to create lucrative opportunities for market growth during the forecast period.
In January 2021, ‘Sekisui Alveo’, a European manufacturer of superior-quality polyolefin foams announced launch of its new certified sustainable products, i.e., Alveolit TA foam products.
In March 2022: Hanwha Solutions announced that the company is set to split its advanced materials business and sell a stake in the unit to raise US$ 491 million for investments at home and abroad. This sell-off was considered first in November 2021. Private equity firm Glenwood PE has planned to purchase 49% stake in the division for USD 491.4 million, becoming its second-largest shareholder after Hanwha.
Foamed polypropylene films is a mono-oriented polypropylene film that is cavitated through a foaming agent which produces air pockets in the film. Due to low density, closed air cell structure, and a smooth surface, the foamed polypropylene films is used as the labels and decoration products. Foamed polypropylene films is also known as polyolefin foam films.
Along with traditional applications such as decorative ribbons, wire wrap, and sleeve-type labels, the foamed polypropylene films is finding its applications in different packaging solutions. The newer applications of foamed polypropylene films are pearlescent wrapping paper, tamper-evident seals, and airline tray liners.
The foamed polypropylene films is suitable for labeling in the fresh produce industry. The foamed polypropylene sheets are also increasing in demand due to excellent interleaving, surface protection, wrapping, vapor transmission, thermal, and insulation properties. The foamed polypropylene films are also used to manufacture packaging formats such as bags & pouches.
Global Foamed Polypropylene Films Market - Dynamics
Manufacturers are involved in the product developments to produce stronger and thinner industrial foamed polypropylene films. For instance, ultra-thin foamed polypropylene films are exploring new markets in the electronics industry for gaskets in electronic organizers, computer monitors, and cell phones.
The raw material suppliers for foamed polypropylene films are developing high-quality materials. Foamed polypropylene films require resin with added melt strength and additional density. Some polypropylene suppliers have come out with foamable grades.
Borealis AG, is an Austrian chemical company, recently enhanced its polypropylene melt strength by adding long-chain branching using a reactive extrusion\ method to create its Daploy™ grades. Daploy™ grades are developed to increase melt strength, make improved and extra uniform bubbles, and give advanced gloss. The foamed polypropylene films have strong threat of substitutes from foamed polyethylene films owing to enhanced offerings.
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Global Foamed Polypropylene Films Market - Geographical Outlook
The United States is expected to lead the country-level market for foamed polypropylene films. Due to the high focus on research and development, the United States is expected as the home of key manufacturers for foamed polypropylene films.
Europe is expected to be leading region for adoption of foamed polypropylene films, owing to an increased application for labeling from Germany, United Kingdom & Russia end-users. The Asia Pacific is expected to be the most emerging market region for the foamed polypropylene films. Latin America and Middle East & Africa are expected to witness sluggish demand for foamed polypropylene films market due to minimal growth in the manufacturing sector.
Global Foamed Polypropylene Films Market - Key Players
The global foamed polypropylene films market is expected as consolidated, due to less number of manufacturers and limited market opportunity. For North America and Europe foamed polypropylene films market, the threat of new entrants is expected to be high as compared to the emerging Asia Pacific market.
Due to the less number of foamed polypropylene films manufacturers, the bargaining power of buyers is very low in Asia Pacific and Latin America as compared to the developed regions such as Europe and North America.
Some of the key players operating in the global foamed polypropylene films market are as follows
Lenzing Plastics GmbH
Toray Plastics (America), Inc.
Gürfil Sanayi ve Elektronik Cihazlari Pazarlama A.S.
Nowofol Kunststoffprodukte GmbH & Co. KG
Brückner Group GmbH
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on packaging foamed polypropylene films market segments and geographies.
Regional Analysis Includes
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa (MEA)
Global Foamed Polypropylene Films Market - Segmentation
The global foamed polypropylene films market has been segmented into thickness, application, and end-user industry.
On the basis of thickness, the global foamed polypropylene films market has been segmented into:
Up to 80 microns
81-120 microns
Above 120 microns
On the basis of application, the global foamed polypropylene films market has been segmented into:
Flocking
Decorative Products
Labels
Tapes
Packaging
On the basis of end-user industry, the global foamed polypropylene films market has been segmented into:
