According to a new market report published by Lucintel, the future of the polypropylene resin in the global composites industry looks promising with opportunities in the transportation, consumer goods, and electrical & electronics industry. The polypropylene resin in the global composites industry is expected to reach an estimated $751.7 million by 2027 with a CAGR of 4.8% from 2021 to 2027.
Browse 77 market data tables and 84 figures spread through 166 pages and in-depth TOC on “Polypropylene Resin in the Global Composites Industry Market"
The major driver for the growth of this market is increasing use of lightweight materials and the performance benefits of reinforced polypropylene composites over metals and pure plastics.
In this market, SFT (Short Fiber Thermoplastics), LFT (Long Fiber Thermoplastics), CFT (Continuous Fiber Thermoplastics), and GMT (Glass Mat Thermoplastics) are product forms of polypropylene resin. Lucintel forecasts that SFT will remain the largest market due to its excellent properties like; heat resistance, higher strength, conductivity, and flame retardant are the qualities driving innovation for automotive applications. Lucintel predicts that CFT will witness the fastest growth during the forecast period due to increased demand from end uses, such as aerospace/defense and transportation.
Within the polypropylene resin in the global composites industry, transportation will remain the largest end use industry by value due to increasing demand for lightweight vehicles in the Asian region. Consumer goods segment is expected to witness highest growth over the forecast period due to the increasing consumption of PP resin in consumer goods products.
Europe is expected to remain the largest market for polypropylene resin due to increasing use of polypropylene resin consumption in various applications. APAC & ROW region is expected to witness the highest growth rate during the forecast period due to the Strong growth in automotive production and appliances industry in this region.
Emerging trends, which have a direct impact on the dynamics of the industry, includes increasing penetration in under-the-bonnet applications and increasing competition with other thermoplastic. LyondellBasell, Mitsui Chemicals, Borealis Exxonmobil, and SABIC are among the major polypropylene resin manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the polypropylene resin in the global composites industry by end use, product type, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Polypropylene Resin in the Global Composites Industry 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the polypropylene resin in the global composites industry by end use, product type, and region as follows:
By End Use [Value ($M) shipment analysis for 2016 – 2027]:
•Transportation
•Consumer Goods
•Electrical and Electronics
•Others
By Product Type [Value ($M) shipment analysis for 2016 – 2027]:
•SFT
•LFT
•CFT
•GMT
By Region [Value ($M) shipment analysis for 2016 – 2027]:
•North America
•Europe
•APAC & ROW
This 166-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/polypropylene-resin-in-composites-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the polypropylene resin in the global composites industry by end use (transportation, consumer goods, electrical and electronics, and others), product type (SFT,LFT,CFT, and GMT), and region (North America, Europe, and Asia Pacific & Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?