Lucintel Forecasts the Global Polypropylene Resin in the Global Composites Material Market is expected to reach an estimated $1,329 million by 2031 with a CAGR of 5% from 2024 to 2031
Lucintel finds that the future of the polypropylene resin in the global composites material market 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 $1,329 million by 2031 with a CAGR of 5% from 2024 to 2031. 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.
According to a market report by Lucintel, the future of the global polypropylene resin in the global composites material market looks promising with opportunities in the transportation, consumer goods, and electrical & electronics industry. The global polypropylene resin in the global composites material market is expected to reach an estimated $1,329 million by 2031 with a CAGR of 5% from 2024 to 2031. The major drivers for this market are the increasing use of lightweight materials and the performance benefits of reinforced polypropylene composites over metals and pure plastics.
A more than 150-page report to understand trends, opportunity and forecast in polypropylene resin in the global composites material market to 2031 by end use (transportation, consumer goods, electrical and electronics, and others), product form (SFT,LFT,CFT, and GMT), and region (North America, Europe, and Asia Pacific & Rest of the World).
Lucintel forecasts that consumer goods will remain the largest end use segment and also expected to witness highest growth over the forecast period due to increasing demand for consumer products such as packaging, household goods, and appliances.
SFT by product will remain the largest segment 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.
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APAC & ROW is expected to remain the largest region over the forecast period due to increasing use of polypropylene resin consumption in various applications and also expected to witness highest growth over the forecast period.
LyondellBasell, Mitsui Chemicals, Borealis AG, ExxonMobil, SABIC are the major suppliers in the polypropylene resin in the global composites material market.
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 write us at [email protected] To get access of more than 1000 reports at fraction of cost visit Lucintel’s Analytics Dashboard.
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