NEW YORK, March 20, 2017 /PRNewswire/ -- Opportunities identified by end use industry type (transportation, consumer goods, electrical and electronics, others), by product form type (short fiber thermoplastics, long fiber thermoplastics, continuous fiber thermoplastics, glass mat thermoplastics), by region (North America, Europe, Asia Pacific, Rest of the World)
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 $657 million by 2021 and it is forecast to grow at a CAGR of 6.0% by value from 2016 to 2021. The major drivers for market growth are the increasing use of lightweight materials and the performance benefits of reinforced polypropylene composites over metals and pure plastics.
Due to the cost-effective injection molding process, polypropylene based composites are suitable for high volume production. Other drivers for market growth are the increasing use of environmentally sustainable thermoplastic composite materials and the replacement of metals in different end use industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing penetration of reinforced polypropylene compounds in under-the-hood applications and increasing competition with other thermoplastics.
A total of 98 figures / charts and 23 tables are provided in this 118-page report to help in your business decisions.
The study includes a forecast for the growth opportunities in the polypropylene resin market in the global composites industry by end use industry, product form, and region, as follows:
By end use industry [Volume (M lbs) and Value ($ 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)
By region [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
- North America
- Asia Pacific
- Rest of the World
SABIC, LyondellBasell, Borealis, Asahi Kasei Plastics, and Mitsui Chemicals are among the major suppliers of polypropylene resin in the global composites industry.
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.
Europe is expected to remain the largest market for polypropylene resin consumption for composite applications.
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?
Lucintel has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team.
The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors' financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel's professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted in the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts in the market. Some of the companies who produce polypropylene resin are SABIC, LyondellBasell, Sinopec Group, Borealis, ExxonMobil Chemical, INEOS, Total SA, Reliance Industries Ltd., and others. Some of the composite intermediate material suppliers in this industry are SABIC, Hanwha L&C, RTP Company, Borealis, JNC Corporation, JFE Chemical Corporation, Jiangsu QIYI Technology Co., TechnoCompound, A. Schulman, and others. Polypropylene Resin in the Global Composites Industry is used for part fabricators such as injection molding, compression molding, and tape layup.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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