According to a new market report published by Lucintel, the future of polypropylene resin in the global composites industry looks good with opportunities in transportation, consumer goods, and electrical/electronics industries. The polypropylene resin market in the global composites industry is expected to reach an estimated $657 million by 2021 and it is forecast to grow at a CAGR of 6.0% by value from 2016 to 2021. The major drivers for market growth are the increasing use of lightweight materials and the performance benefits of reinforced polypropylene composites over metals and pure plastics. Due to the cost-effective injection molding process, polypropylene based composites are suitable for high volume production. Other drivers for market growth are the increasing use of environmentally sustainable thermoplastic composite materials and the replacement of metals in different end use industries.
In this market, transportation, consumer goods, and electrical/electronics are the major end use industries. On the basis of its comprehensive research, Lucintel forecasts that the transportation segment is expected to show above average growth during the forecast period.
Within the polypropylene resin in the global composites industry, the transportation segment is expected to remain the largest segment by value and volume. Expected increase in global automotive production and increasing demand for lightweight materials to achieve higher fuel efficiency are the major driving forces that spur growth for this segment over the forecast period.
By product form, the largest segment for polypropylene resin is expected to remain long fiber thermoplastics (LFT) due to the higher performance characteristics of long fiber reinforced compounds compared to that of short fiber reinforced compounds.
Europe is expected to remain the largest market for polypropylene resin consumption for composite applications.
Asia Pacific is expected to witness the highest growth rate over the forecast period due to expected increase in vehicle production and growing consumer goods and electrical/electronics industry in the region.
For business expansion, Lucintels report suggests innovation to achieve higher thermal resistance with desired mechanical properties. Emerging trends, which have a direct impact on the dynamics of the industry, include increasing penetration of reinforced polypropylene compounds in under-the-hood applications and increasing competition with other thermoplastics. SABIC, LyondellBasell, Borealis, Asahi Kasei Plastics, and Mitsui Chemicals are among the major suppliers of polypropylene resin in the global composites industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the polypropylene resin market in the global composites industry by end use industry, product form, and region, and has complied a comprehensive research report entitled Growth Opportunities for Polypropylene Resin in the Global Composites Industry 2016-2021: Trends, Forecast, and Opportunity Analysis. The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities in the polypropylene resin market in the global composites industry by end use industry, product form, and region, as follows:
By end use industry [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
– Consumer Goods
– Electrical and Electronics
By product form [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
– Short fiber thermoplastics (SFT)
– Long fiber thermoplastics (LFT)
– Continuous fiber thermoplastics (CFT)
– Glass Mat Thermoplastics (GMT)
By region [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
– North America
– Asia Pacific
– Rest of the World
This 118-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 [email protected] Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, SWOT Matrix, Due Diligence and Mergers & Acquisitions.
This report addresses the following key questions:
Q1. What are some of the most promising, high-growth opportunities for polypropylene resin in composites industry by end use industry (transportation, consumer goods, electrical/electronics, and others), product form (SFT, LFT, GMT, and CFT), and region (North America, Europe, Asia Pacific, and Rest of the World?
Q2. Which products segments will grow at a faster pace and why?
Q3. Which region will grow at a faster pace and why?
Q4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q5. What are the business risks and competitive threats in this market?
Q6. What are emerging trends in this market and reasons behind them?
Q7. What are some of the changing demands of customers in the market?
Q8. What are the new developments in the market and which companies are leading these developments?
Q9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q11. What M & A activity has occurred in the last 5 years?