Polypropylene Resin in the Global Composites Industry: Trends, Opportunities and Competitive Analysis [2023-2028]

Polypropylene Resin in the Global Composites Industry Trends and Forecast

According to a new market report published by Lucintel, 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 $979.8 million by 2028 with a CAGR of 5.3% from 2022 to 2028. 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.

• Lucintel forecasts that transportation will remain the largest end use segment and also expected to witness highest growth over the forecast period due to increasing demand for lightweight vehicles in the Asian region.
• 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.
• North America is expected to remain the largest region over the forecast period due to increasing use of polypropylene resin consumption in various applications. APAC & ROW are expected to witness highest growth over the forecat period.

North America is expected to remain the largest market in the PP Resin in the Global Composites Industry

1. United States: Companies like LyondellBasell, ExxonMobil, and SABIC are leading the development of PP resin for composite applications. LyondellBasell recently announced advancements in its PP resin formulations for lightweight automotive components. The U.S. government's support for automotive innovation and sustainable manufacturing initiatives fuels market growth. 
2. Germany: Firms such as BASF, Celanese Corporation, and Solvay are investing in PP resin manufacturing capabilities. BASF recently introduced new PP resin solutions for construction and industrial composites. Government initiatives promoting lightweight materials usage and sustainable manufacturing drive market expansion.
3. China: Leading companies like China Petrochemical Corporation (Sinopec), China National Petroleum Corporation (CNPC), and China Resources (Holdings) Co., Ltd. are expanding their PP resin production capacities. Sinopec recently announced the development of high-performance PP resin grades for various composite applications. Government policies supporting domestic manufacturing and technological innovation drive market growth. 
4. Japan: Companies such as Mitsui Chemicals, Asahi Kasei Corporation, and Toray Industries are leading the development of advanced PP resin materials. Mitsui Chemicals recently introduced new PP resin grades for automotive and consumer goods composites. The Japanese government's initiatives to promote lightweight materials usage in automotive and consumer electronics industries support market expansion.
5. India: Firms like Reliance Industries Limited, Haldia Petrochemicals Limited, and Indian Oil Corporation Limited (IOCL) are focusing on PP resin manufacturing for composite applications. Reliance Industries recently announced investments in its PP resin production facilities to cater to the growing demand in construction and packaging composites. Government initiatives promoting domestic manufacturing and infrastructure development drive market growth. 

Emerging Trends in the Polypropylene Resin in the Global Composites Industry

Emerging trends, which have a direct impact on the dynamics of the industry, include increasing penetration in under-the-bonnet applications and increasing competition with other thermoplastic.
A total of 84 figures / charts and 77 tables are provided in this 166-page report to help in your business decisions. A sample figure with insights is shown below. 

Polypropylene Resin in the Global Composites Industry by Segment

The study includes a forecast for the polypropylene resin in the global composites industry by end use, product type, and region as follows:

Polypropylene Resin in the Global Composites Industry by End Use [Value ($M) and Volume (M lbs) Shipment Analysis for 2017 – 2028]

• Transportation
• Consumer Goods
• Electrical and Electronics
• Others

Polypropylene Resin in the Global Composites Industry by Product Type [Value ($M) and Volume (M lbs) Shipment Analysis for 2017 – 2028]

• SFT
• LFT
• CFT
• GMT

Polypropylene Resin in the Global Composites Industry by Region [Value ($M) and Volume (M lbs) Shipment Analysis for 2017 – 2028]

• North America
• Europe
• APAC & ROW

List of Polypropylene Resin in the Global Composites Industry Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies polypropylene resin in the global composites industry companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the polypropylene resin in the global composites industry companies profiled in this report includes.

• LyondellBasell
• Mitsui Chemicals, 
• Borealis AG
• ExxonMobil
• SABIC

Polypropylene Resin in the Global Composites Industry Insight

• Lucintel forecasts that transportation will remain the largest end use segment and also expected to witness highest growth over the forecast period due to increasing demand for lightweight vehicles in the Asian region.
• 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.
• North America is expected to remain the largest region over the forecast period due to increasing use of polypropylene resin consumption in various applications. APAC & ROW are expected to witness highest growth over the forecat period.

Features of Polypropylene Resin in the Global Composites Industry

• Market Size Estimates: Polypropylene resin in the global composites industry size estimation in terms of value ($M)
• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Market size by end use, product type, and region
• Regional Analysis: Polypropylene resin in the global composites industry breakdown by North America, Europe, and APAC & ROW.
• Growth Opportunities: Analysis of growth opportunities in different by end use, product type, and region for the polypropylene resin in the global composites industry.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the polypropylene resin in the global composites industry.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the polypropylene resin in the global composites industry size?
Answer: The polypropylene resin in the global composites industry is expected to reach an estimated $979.8 million by 2028.       
Q2. What is the growth forecast for polypropylene resin in the global composites industry?
Answer: The polypropylene resin in the global composites industry is expected to grow at a CAGR of 5.3% from 2023 to 2028.  
Q3. What are the major drivers influencing the growth of the polypropylene resin in the global composites industry?
Answer: 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.         
Q4. What are the major end uses for polypropylene resin in the global composites industry?
Answer: Transportation, consumer goods, and electrical & electronics use are the major end uses for polypropylene resin in the global composites industry.   
Q5. What are the emerging trends in polypropylene resin in the global composites industry?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, includes increasing penetration in under-the-bonnet applications and increasing competition with other thermoplastic.
Q6. Who are the key polypropylene resins in the global composites industry companies?
Answer: Some of the key polypropylene resin in the global composites industry companies are as follows:

• LyondellBasell
• Mitsui Chemicals, 
• Borealis AG
• ExxonMobil
• SABIC.

Q7. Which polypropylene resin in the global composites industry product type segment will be the largest in future?
Answer: Lucintel forecasts that by product SFT 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..
Q8. In polypropylene resin in the global composites industry, which region is expected to be the largest in next 5 years?
Answer: North America is expected to remain the largest region and APAC & ROW witness the highest growth over next 5 years.    
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the polypropylene resin in the global composites industry by end use (transportation, consumer goods, electrical and electronics, and others), product form (SFT, LFT, CFT and GMT), and by region (North America, Europe, Asia Pacific and Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?

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