Global Glass-Reinforced PP Compound Market for the Automotive Industry: Focus on Supply-Demand Scenario, Value Chain Analysis, Capacity Development, Material Competition, Application, and Sub-Applications- Analysis and Forecast, 2018-2030

LONDON, Jan. 2, 2019 /PRNewswire/ -- Global Glass-Reinforced PP Compound Market is Anticipated to Reach $ 3.54 Billion by 2030

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Engineering plastics and metals have been extensively replaced by polypropylene (PP) compounds in the automotive parts to achieve a significant weight reduction and cost savings.PP compounds are cost-effective yet have outstanding mechanical properties and moldability accounting for more than half of plastics used in a vehicle.

The adoption of PP compound for new automotive applications and the cannibalization of other plastics by PP compound are expected to increase the share of PP compound in the automotive plastics market from 28.4% in 2017 to 34.4% in 2030. PP compounds have managed to substitute ABS in several lower-end automotive applications. This substitution is further expected in these applications such as center consoles, door panels, and side pillars. PC/ABS is a highly impact-resistant polymer which finds use in bumpers, but it has been losing its share to TPOs, as TPOs provide a cost-effective alternative to PC/ABS. LFT-PP also substitutes PC/ABS in overhead consoles of automobiles. Weak impact and aesthetic performance limit the usage of virgin PP in the automotive industry. Major applications for virgin PP in automotive industry include surge tanks, battery cases, covers, and door liners. Demand for virgin PP in the automotive industry is tied-up with the increasing demand for PP compound in the automotive industry. The direct application of virgin PP in the automotive industry faces replacement threat from PP compound.

Glass-reinforced PP compound utilize short as well as long glass fibers, which helps in improving the stiffness of the material.Short glass-reinforced PP compound finds its application in the engine and transmission of the vehicle in which stiffness is an important criterion for material selection.

The use of long glass fiber-reinforced PP is fast growing due to its potential to replace metals.Glass-reinforced PP compounds are widely used in the engine and transmission applications such as air filer housing and battery.

The parts that use glass-reinforced PP compounds require high strength and stiffness.Exterior applications utilize glass-reinforced PP compound in high-end vehicles for screens aerodynamics, air vent control, and sliding roof system.

The exterior applications are not very common in lower-end vehicles. The use of glass-reinforced PP compound in interiors is to make the frame for parts such as door panels, center consoles, instrument panel, and seats, among others.

The global glass-reinforced PP compound market is expected to grow at a CAGR of 8.07% and 6.79% between 2018 and 2030 in terms of value and volume, respectively.

The report is a compilation of different segments of the global glass-reinforced PP compound market, including market breakdown by automotive applications, and geographical areas.Herein, the revenue generated from the automotive application areas (interior, exterior, and engine & transmission), and geographies (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) are tracked to calculate the overall market size, both in terms of value ($million) and volume (kilotons).

While highlighting the key driving and restraining forces for this market, the report also provides a detailed summary of the global glass-reinforced PP compound market for the automotive industry. It also includes the key participants involved in the industry at the relevant sections.

Key questions answered in the report:
• What is the global PP compound market size in terms of value ($Million) and volume (Kilotons) from 2015-2030 along with the year-on-year growth rates and the CAGR from 2018 to 2030?
• What are the different types of PP compounds used in the automotive industry and their growth pattern in terms of value and volume in different automotive parts?
• What are the different types of PP compounds used in the automotive industry and their growth pattern in terms of value and volume in different regions?
• What is the global glass-reinforced PP compound market size in terms of value ($Million) and volume (Kilotons) from 2015-2030 along with the year-on-year growth rates and the CAGR from 2018 to 2030?
• What are the different application areas of glass-reinforced PP compounds used in the automotive industry and their growth pattern in terms of value and volume in different automotive parts?
• What is the growth pattern of glass-reinforced PP compounds used in the automotive industry in terms of value and volume in different regions and countries?
• Which are the major regions and countries that provide growth opportunities for the glass-reinforced PP compound market?
• What is the competitive strength of the key players in the global glass-reinforced PP compound market on the basis of their recent developments, product offerings and regional presence?
• Who are the key players (along with their detailed analysis and profiles including their financials, company snapshots, key products and services, and SWOT analysis) in the market?
• Who are the key end users of global glass-reinforced PP compound market?
• What is the capacity development and forecast of the key players operating in the PP compound market?
• What are the different automotive plastics that compete with the PP compound used in the automotive industry?

The report further includes a thorough analysis of the impact of the Porter's Five Forces to understand the overall attractiveness of the industry.Further, the report includes an exhaustive analysis of the geographical split into North America, Europe, Asia-Pacific (APAC), Middle East & Africa, and South America.

Each geography details the individual push and pull forces in addition to the key players from that region.This report is a meticulous compilation of research on more than 100 players in the global glass-reinforced PP compound market and draws upon the insights from in-depth interviews with the key opinion leaders of more than 50 leading companies, market participants, and vendors.

The report also profiles approximately 16 supplier and customer profiles with their financial analysis, SWOT, and product portfolio.

The supplier profiles offered in the report are LyondellBasell Industries Holdings B.V. , Mitsui Chemicals, Inc., Kingfa Sci. & Tech. Co., Ltd, Borealis AG, Washington Penn Plastic Co., Inc., Sumitomo Chemical Co., Ltd., Japan Polypropylene Corporation, SAUDI BASIC INDUSTRIES CORPORATION, POLYONE CORPORATION, and Ravago.
The key end user companies profiled in the report include Faurecia, Magna International Inc., REHAU, Summit Plastic Molding Inc., Samvardhana Motherson Group, and Yanfeng Automotive Interiors (YFAI).

Executive Summary
Engineering plastics and metals have been extensively replaced by polypropylene (PP) compounds in the automotive parts to achieve a significant weight reduction and cost savings.PP compounds are low in cost yet have outstanding mechanical properties and moldability.

The compounds account for more than half of plastics used in a vehicle. The adoption of PP compound for new automotive applications and the cannibalization of other plastics by PP compound is expected to increase the share of PP compound in the automotive plastics market from 28.4% in 2017 to 34.4% in 2030. PP compounds have managed to substitute ABS in several lower-end automotive applications. This substitution is further expected in these applications such as center consoles, door panels, and side pillars. PC/ABS is a highly impact-resistant polymer which finds use in bumpers, but it has been losing its share to TPOs, as TPOs provide a cost-effective alternative to PC/ABS. LFT-PP also substitutes PC/ABS in overhead consoles of automobiles. Weak impact and aesthetic performance limit the usage of virgin PP in automotive industry. Major applications for virgin PP in automotive industry include surge tanks, battery cases, covers, and door liners. Demand for virgin PP in the automotive industry is tied-up with the increasing demand for PP compound in the automotive industry. The direct application of virgin PP in the automotive industry faces replacement threat from PP compound.

Glass-reinforced PP compound utilizes short as well as long glass fibers, which helps in improving the stiffness of the material.Short glass-reinforced PP compound finds application in the engine and transmission of the vehicle in which stiffness is an important criterion for material selection.

The use of long glass fiber-reinforced PP is fast growing due to its potential to replace metals.Glass-reinforced PP compounds are widely used in the engine and transmission applications such as air filer housing and battery.

The parts that use glass-reinforced PP compounds require high strength and stiffness.Exterior applications utilize glass-reinforced PP compound in high-end vehicles for screens aerodynamics, air vent control, and sliding roof system.

The exterior applications are not very common in lower-end vehicles. The use of glass-reinforced PP compound in interiors is to make the frame for parts such as door panels, center consoles, instrument panel, and seats, among others.

In terms of value, the global glass-reinforced PP compound market is expected to grow at a CAGR of 8.07% during the forecast period 2018-2030.

Engine and transmission dominated the glass-reinforced PP compound market in Asia-Pacific in 2017.The key factors driving the demand for glass-reinforced PP compound in the region are the use of glass-reinforced PP compounds for the engine and the transmission applications.

However, low demand for luxury vehicles and the omission of parts, such as the air vent control in low-end cars, limits the glass-reinforced PP compound usage in exterior applications.

Asia-Pacific accounted for 41.30% of the total glass-reinforced PP compound market in 2017. The global automotive production is dominated by the Asia-Pacific region. The total production in the region occupied more than 50% of the global automotive production. Countries such as China and India occupy a major share in the region's production which is largely dominated by small-passenger cars. Lack of buying capability and the lack of regulatory push restricts the use of plastics in the automobiles produced in the region. The growing GDP of developing economies and the rising consumer demand would provide ample opportunities for glass-reinforced PP compound market to grow in the region.

The glass-reinforced PP compound market is expected to grow significantly in the Europe region.The automotive industry in Europe is the largest consumer of plastics in each vehicle.

The demand for glass-reinforced PP compound in the region is largely driven by the consumer preference for luxury interiors.Countries in the region also focus on weight reduction in order to comply with the stringent regulations.

Government initiatives are a key to increase the adoption of plastics in the automotive industry in Europe.Leading automotive OEMs produce and export vehicles from the region.

The SUV segment in the region has focused on adding luxury to its interiors as well as exteriors. The segment has witnessed good growth in the region while also increasing the use of glass-reinforced in these vehicles.

Some of the key players operating in the global glass-reinforced PP compound market include LyondellBasell Industries Holdings B.V. , Mitsui Chemicals, Inc., Kingfa Sci. & Tech. Co., Ltd, Borealis AG, Washington Penn Plastic Co., Inc., Sumitomo Chemical Co., Ltd., Japan Polypropylene Corporation, SAUDI BASIC INDUSTRIES CORPORATION, POLYONE CORPORATION, and Ravago.

Some of the end-users of glass-reinforced PP compound are Faurecia, Magna International Inc., REHAU, Summit Plastic Molding Inc., Samvardhana Motherson Group, and Yanfeng Automotive Interiors (YFAI).

Countries Covered
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Rest-of-Asia-Pacific
• Europe
• Germany
• Spain
• France
• The U.K.
• Italy
• Netherlands
• Rest-of-Europe
• North America
• The U.S.
• Mexico
• Canada
• Middle East and Africa
• Iran
• South Africa
• Saudi Arabia
• U.A.E.
• Rest-of-Middle East and Africa
• South America
• Brazil
• Rest-of-South America

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