DUBLIN, June 9, 2017 /PRNewswire/ -- Research and Markets has announced the addition of the "Growth Opportunities for Polypropylene Resin in the Global Composites Industry" report to their offering.
The polypropylene resin market in the global composites industry is expected to reach an estimated $657 million by 2021 and it is forecast to grow at a CAGR of 6.0% by value from 2016 to 2021.
The future of polypropylene resin in the global composites industry looks good with opportunities in transportation, consumer goods, and electrical/electronics industries. The major drivers for market growth are the increasing use of lightweight materials and the performance benefits of reinforced polypropylene composites over metals and pure plastics. Due to the cost-effective injection molding process, polypropylene based composites are suitable for high volume production. Other drivers for market growth are the increasing use of environmentally sustainable thermoplastic composite materials and the replacement of metals in different end use industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing penetration of reinforced polypropylene compounds in under-the-hood applications and increasing competition with other thermoplastics.
The study includes a forecast for the growth opportunities in the polypropylene resin market in the global composites industry by end use industry, product form, and region, as follows:
By end use industry [Volume (M lbs) and Value ($ 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)
SABIC, LyondellBasell, Borealis, Asahi Kasei Plastics, and Mitsui Chemicals are among the major suppliers of polypropylene resin in the global composites industry.
For more information about this report visit http://www.researchandmarkets.com/research/kcxqm6/growth
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SOURCE Research and Markets