Global Polypropylene and Polypropylene composites Market By Product (PP, PP Composites), Fibre Type (Glass Fibre, Carbon Fibre, Others), Application (Packaging, Building & Construction, Automotive, Electrical & Electronics, Aerospace & Defence, Others) Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Polypropylene and Polypropylene composites Market
Global polypropylene and polypropylene composites market is expected to an estimated value of USD 87994.23 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the growing demand of polypropylene and polypropylene composites are the low work cost and technological advancements associated with manufacturing.
Market Definition: Global Polypropylene and Polypropylene composites Market
Polypropylene and polypropylene composites are produced from the polymerization of propene. It is the most adaptable and versatile fibre that has wide number of applications. It is process as a film for packaging and labelling, and into fibres for clothing, apparel, carpets, bedsheets, amongst others. It is also extensively used for injection moulded articles, wherein plastic products are manufactured by injecting molten substances into a mold, to produce various products including car bumpers, washing bowl etc. They are fully recyclable, heat resistant and flexible components that reduce the overall cost and ensure minimal wastage.
- Rising demand for polypropylene and polypropylene composites by various industries
- Reduced wastage, heat and chemical resistance, flexibility and convenience of these components drives the growth of this market
- The high chemical tolerance, and transparent nature of polypropylene increases its applicability and demand in the food & beverages industry
- Rising demand from automobile sector in the use of interior and exterior parts of vehicles to ensure maximum fuel efficiency and reduce harmful emissions
- High initial cost of setting up tools for injection modelling
- Availability of substitutes hinders the growth of this market
Segmentation: Global Polypropylene and Polypropylene composites Market
- Polypropylene (PP)
- Polypropylene (PP) Composites
By Fibre Type
- Glass Fibre
- Carbon Fibre
- Building & Construction
- Electrical & Electronics
- Aerospace & Defence
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In February 2019, Total announced that they had acquired Synova. With this acquisition, it would combine the recycling and reusing plastic expertise from Synova with the technical knowledge and experience from Total, to deliver the highest quality of PP plastics for auto components that reduce carbon dioxide emissions and ensure maximum energy efficiency.
- In June 2018, Neste and IKEA have entered into a collaborative agreement to launch the world’s first massive large scale production of bio-based and renewable polypropylene plastic involving utilisation of waste residues and waste materials including cooking oil and vegetable oil. With this, it would ensure sustainable development and conservation by converting the waste fossil fuels into useful PP products. With mass production of PP products, and its widespread applicability, the market for polypropylene and its composites would grow significantly during the forecast period.
Competitive Analysis: Global Polypropylene and Polypropylene composites Market
Global polypropylene and polypropylene composites market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of polypropylene and polypropylene composites for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Polypropylene and Polypropylene composites Market
Few of the major competitors currently working in the polypropylene and polypropylene composites market are Borealis AG, Sumitomo Chemical Co., Ltd., Neste, Exxon Mobil Corporation., China Petrochemical Corporation., SABIC, Formosa Plastics Corp, LyondellBasell Industries Holdings B.V., DuPont de Nemours, Inc., INEOS, Braskem, Global Polymers LLC., Dow, Centroplast Engineering Plastics GmbH, Celanese Corporation, BASF SE, Amco Polymers, ALBIS PLASTIC GmbH, Mitsubishi Chemical Corporation, Aaron Industries, Inc. and Arkema amongst others.
Research Methodology: Global Polypropylene and Polypropylene composites Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved