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, Lucintel’s 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]:
- Transportation
- Consumer Goods
- Electrical and Electronics
- Others
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
- Europe
- 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
helpdesk@lucintel.com. Lucintel
offerings include Advanced Materials Reports, Composite Materials Market Report, SWOT
Matrix,
Due Diligence and
Mergers & Acquisitions.
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 addresses the following key
questions:
Q. 1. 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?
Q. 2. Which products
segments will grow at a faster pace and why?
Q. 3. Which
region will grow at a faster pace and why?
Q.4. What are
the key factors affecting market dynamics? What are the drivers, challenges,
and business risks in this market?
Q.5. What are
the business risks and competitive threats in this market?
Q.6. What are
emerging trends in this market and reasons behind them?
Q.7. What
are some of the changing demands of customers in the market?
Q.8. What
are the new developments in the market and which companies are leading these
developments?
Q.9. Who
are the major players in this market? What strategic initiatives are being
taken by key companies for business growth?
Q.10. 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?
Q. 11. What M & A activity has occurred
in the last 5 years?
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