A composite material including a polypropylene resin molded body having a melting point MB.degree. C., and a foamed body of expanded particles fuse-bonded to the molded body, wherein the foamed body has at least two endothermic peaks in DSC curve thereof at peak temperatures of 135.degree. C. or more, wherein the highest temperature endothermic peak thereof is at a peak temperature of PH.degree. C. which is not lower than (MB-5).degree. C. and has such an area at temperatures not lower than (MB-5).degree. C. that corresponds to a calorific value in the range of at least 8 J/g, and wherein the peel strength between the molded body and the foamed body is at least 1.5 kg/15 mm. The composite material is produced by molding the expanded particles in a mold cavity in which the molded body is previously placed.