According to the recent study the polypropylene resin in the global composites industry market is projected to reach an estimated $751.7 billion by 2027 from $565.8 billion in 2021, at a CAGR of 4.8% from 2021 to 2027. Growth in this market is primarily driven by increasing use of lightweight materials and the performance benefits of reinforced polypropylene composites over metals and pure plastics.
Browse 84 figures / charts and 77 tables in this 166 -page report to understand trends, opportunities and forecast in polypropylene resin in the global composites industry market by end-use (transportation, consumer goods, electrical and electronics, and others), by product form (SFT, LFT, CFT and GMT) and by region (North America, Europe, Asia Pacific and Rest of the World).
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“Transportation market is expected to remain the largest segment during the forecast period.”
Based on end use, the polypropylene resin in the global composites industry market is segmented into transportation, consumer goods, electrical and electronics, others. Lucintel forecasts that the transportation market is expected to remain the largest segment due to increasing demand for lightweight vehicles in the Asian region. Consumer goods is expected to be the highest growing end use over the forecast period.
“Within the polypropylene resin in the global composites industry market, the SFT segment is expected to remain the largest product type”
Based on product type the SFT segment is expected to witness the highest growth over the forecast period due to its excellent properties like; heat resistance, higher strength, conductivity, and flame retardant are the qualities driving innovation for automotive applications.
“North America will dominate the polypropylene resin in the global composites industry market in near future”
North America is expected to remain the largest region and witness the highest growth over the forecast period due to increasing use of polypropylene resin consumption in various applications.
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Major players of polypropylene resin in the global composites industry market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. LyondellBasell, Mitsui Chemicals, Borealis AG, ExxonMobil, and SABIC are among the major polypropylene resin in the global composites industry providers.
This unique 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-industry.aspx or [email protected]