Polypropylene And Polypropylene Composites Market - Forecast(2024 - 2030)
Polypropylene And Polypropylene Composites Market Report Overview
The Polypropylene And Polypropylene Composites Market size is forecast to reach US$92.7
billion by 2027 after growing at a CAGR of 4.3% during 2022-2027. The use of polypropylene
as engineering plastic in packaging, laboratory equipment, reusable containers,
and auto components is driving the market growth. Polypropylene is a
thermoplastic polymer that offers characteristics
such as electrical insulation, heat resistance, easy–to-mould nature, and chemical
resistance, which has increased its usage in recent years. Polypropylene & polypropylene composites can exhibit
complex shapes, reducing the wastage of the material, and therefore are
utilized in various end use industries. Furthermore, polypropylene are extensively
being used in the production of fiber in the textile and apparel industry, especially
for an artificial turf for sports activities thereby driving the growth of the industry
in the forecast period.
COVID-19 Impact
The COVID-19 has had a negative impact on engineering plastic demand across various end-use industries such as automotive, textile & apparel, and building & construction, which has reduced polypropylene & polypropylene composites consumption. There has been a temporary suspension of building and construction activities in various regions, which has adversely affected the market growth. For instance, the construction output in Great Britain fell by a record 35% in Quarter 2 of 2020 compared with Quarter 1. This value decline was due to the pandemic. The disruption of the supply chain, resulting in the delay or non-arrival of raw materials, the disruption of financial flows, and the increasing absenteeism of production line workers, forced manufacturers of automotive goods to operate at zero or partial capacity. Thus, this also decreased in demand for polypropylene & polypropylene composites, which limited the market growth of polypropylene & polypropylene composites during the pandemic in different regions.
Report Coverage
The report: “Polypropylene and Polypropylene Composites Market – Forecast (2022 - 2027)”, by IndustryARC, covers an in-depth
analysis of the following segments of the Polypropylene And Polypropylene Composites industry.
By Fiber
Type: Carbon
Fiber, Glass Fiber, Aramid Fiber, and Others.
By Product
Type: Polypropylene
(PP), Polypropylene Composites, and Others.
By Application: Air and Moisture Barrier Membranes, Carpet
Textiles, Insulating Building Wraps, Industrial Adhesives and Tapes, Piping,
Dielectric Medium, Packaging, Structural Assembly, Powertrain Component,
Chassis, Fabrics, and Others.
By End Use
Industry: Automotive
(Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicle), Building
& Construction (Residential Construction, Commercial Construction, Industrial,
Infrastructure), Electrical and Electronics, Textile and Apparel, Aerospace and
Defense,
and Others.
By
Geography: North America
(U.S.A., Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands,
Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India,
South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest
of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South
America), Rest of the World (Middle East and Africa).
Key Takeaways
- The North America region dominates the Polypropylene And Polypropylene Composites Market owing to the rising growth and increasing investments in the textile & apparel industry.
- Rapidly rising demand for polypropylene and polypropylene composites in the building and construction industry for
applications such as insulating building wraps, industrial adhesives and tapes,
piping, has driven the growth of the market.
- The increasing adoption of polypropylene and polypropylene
composites in electric vehicles for weight reduction has been a critical factor driving the growth of
the Polypropylene And Polypropylene Composites Market in the upcoming years.
- However, the high manufacturing cost of polypropylene composites can hinder the growth of the Polypropylene And Polypropylene Composites Market over the forecast period.
Figure: North America Polypropylene And Polypropylene Composites Market Revenue, 2021-2027 (US$ Billion)
For more details on this report - Request for Sample
Polypropylene And Polypropylene Composites Market
Segment Analysis – By Fiber Type
Glass fiber held the
largest share in the Polypropylene And Polypropylene Composites Market in 2021. Glass fibers are low in cost than aramid and carbon
fibers. Many tiny glass fibers can be compiled together to form the glass fiber
reinforced composites (GFRP), held in position by plastic polymer resin rigidly.
Possessing a high breaking point than carbon fiber, glass fiber is utilized
when higher flexibility is desired. Polypropylene composites use glass fiber as a reinforcing element due to its
superior strength, flexibility, stability, durability, lightweight, and
resistance to moisture, heat, and temperature. Therefore, due to such
characteristics the demand for glass fiber as a chosen material for end-use
manufacturers is driving the growth of the Polypropylene And Polypropylene Composites Market.
Polypropylene And Polypropylene Composites Market Segment Analysis – By Application
The chassis application held the largest share in the Polypropylene And Polypropylene Composites Market in 2021. Polypropylene and polypropylene composites lower the maintenance cost and increase the durability and lifecycle of the vehicles. Polypropylene composite materials are also used in the chassis of a car body. The chassis is capable of carrying the whole load of a car in a static condition, making some part to be mounted on it such as engine, brakes, transmission system, axles, tires, and others. Chassis made from polypropylene composites provides appropriate strength to bear loads. Increasing usage of polymer matrix composite (PMC) and metal matrix composites (MMC) materials in the automotive provide less weight and fuel efficiency. Thus, the rising utilization of polypropylene and polypropylene composites in the chassis application of the vehicles will raise the growth of the market.
Polypropylene And Polypropylene Composites Market Segment Analysis – By End-Use Industry
The automotive application held the largest share in the Polypropylene And Polypropylene Composites Market after growing at a CAGR of 4.8%. The automotive industry uses polypropylene composites due to their properties such as good mechanical strength, flow ability, chemical resistance, weatherability, and since it is economical. Polypropylene and polypropylene composites is used as engineering plastic in the manufacturing of automotive components such as wheel covers and automotive bumpers, interior wrapping, and numerous assembly parts. It is also utilized to gain weight reduction, in improving the fuel efficiency and performance of the vehicles. Additionally, in the projected period, the rising production of automotive will raise the demand for polypropylene and polypropylene composites, which will drive the Polypropylene And Polypropylene Composites Market. For instance, according to the International Trade Administration (ITA), in China, the government anticipates automobile manufacturing to reach US$35 million by 2025, making China the world's largest vehicle market. Thus, increasing automotive production will require more automotive components made from polypropylene and polypropylene composites, which will drive the demand for polypropylene and polypropylene composites during the forecast period.
Polypropylene And Polypropylene Composites Market Segment Analysis – By Geography
North America dominated the Polypropylene And Polypropylene Composites Market with a share of 34% in 2021 and is projected to dominate the market during the forecast period. Because of the growing automotive sector, North America is one of the largest markets for polypropylene and polypropylene composites. For instance, according to Organisation Internationale des Constructeurs d'Automobiles (OICA) in 2021, the total motor vehicle production increased by 10% from 2020 in USA. In addition, polypropylene and polypropylene composites are also used in electric vehicles, to cut carbon emissions in the atmosphere by cutting fuel oil usage. According to International Energy Association (IEA), electric car sales reached to 3 million in 2020, up by 40% from 2019, with 2% sales share from the United States. Therefore, increasing lightweight electric vehicle and fuel efficiency requirements have increased the usage of polypropylene and polypropylene composites, thus, driving the market growth in the region.
Polypropylene And Polypropylene Composites Market Drivers
Surging Demand for Polypropylene And Polypropylene
Composites In Building And Construction Industry
In the building and construction industry, polypropylene and polypropylene composites find usage in numerous applications such as in air and moisture barrier membranes, carpet textiles, insulating building wraps, industrial adhesives and tapes, piping, and others. In recent years, with the rising building and construction activities, the demand for polypropylene and polypropylene composites is also set to rise. The building and construction activities are increasing rapidly in developing and emerging economies. For instance, according to the government of Alberta Wellings of Calgary - Phase 1 (South Tower) a residential project with estimated cost of $56.2M is under construction and is scheduled to be completed by 2023. Thus, with the construction sector's growth, the Polypropylene And Polypropylene Composites Market will rise further over the forecast period.
Rapidly Rising Demand for Electric Vehicles
Electric vehicles are launched in the market due to their characteristics to cut carbon emissions in the atmosphere. Polypropylene composite materials have raised vehicle development, performance, design, light-weighting, enhancing durability, and strength for physically large automotive parts. For fast-developing mobility, composites provide new applications and benefits to support the automotive industry. Increase in the driving range of electric cars, making the engines lighter by creating a virtuous circle, and integrating the battery pack housing are some of the key advantages of polypropylene composites. Moreover, the rising manufacturing and sales of electric vehicles have raised the demand for polypropylene and polypropylene composites. For instance, in China in 2020, the sales of electric vehicles increased to 5.7% from 4.8% in 2019, according to International Energy Agency (IEA). Thus, the increasing demand for electric vehicles is forecasted to drive the growth of the Polypropylene And Polypropylene Composites Market.
Polypropylene And Polypropylene Composites Market Challenges
High Manufacturing
Cost of Polypropylene Composites
Will Hamper the Market Growth
Polypropylene composites are very expensive in comparison to other alternatives in the market. Acceptance of polypropylene composites has increased due to the strict emission regulations. The cost of raw materials such as carbon fiber and thermoplastic polymer are high, making polypropylene composite’s production and processing costs to increase. Due to the high manufacturing cost, the use and struggle in acceptance persists of polypropylene composites, even after their multiple advantages over materials such as aluminium and steel, especially in the APAC and MEA regions. Thus, the high manufacturing cost of polypropylene composites will create hurdles for the growth of the market.
Polypropylene And Polypropylene
Composites Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies players adopt in this market. Polypropylene and Polypropylene composites top 10 companies include:
- Borealis AG
- Sumitomo Chemicals
- Exxon Mobil Corporation
- Sinopec Ltd
- SABIC
- Formosa Plastics
- Lyondell Basell Industries
- DuPont
- INEOS
- Braskem
Recent Developments
- In September 2020, ITOCHU, Borealis
and Borouge announced collaboration in order to enable uptake of renewable
polypropylene in the Japanese market, for the production of food containers,
daily commodities and automotive parts.
Relevant Reports
Polypropylene &
High-impact Polystyrene Market – Forecast (2022 - 2027)
Report Code: CMR 31879
Scratch Resistant
Polypropylene Market - Industry Analysis, Market Size, Share, Trends,
Application Analysis, Growth And Forecast 2021 - 202
Report Code: CMR 24077
Thermoplastic
Composites Market - Industry Analysis, Market Size, Share, Trends, Application
Analysis, Growth And Forecast 2021 - 2026
Report Code: CMR 60611
For more Chemicals and Materials related reports, please click here
LIST OF TABLES
1.Global PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2023-2030 ($M)1.1 Polypropylene Market 2023-2030 ($M) - Global Industry Research
1.2 Polypropylene composites Market 2023-2030 ($M) - Global Industry Research
2.Global PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2023-2030 ($M)
2.1 Glass fiber Market 2023-2030 ($M) - Global Industry Research
2.2 Carbon fiber Market 2023-2030 ($M) - Global Industry Research
3.Global PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2023-2030 (Volume/Units)
3.1 Polypropylene Market 2023-2030 (Volume/Units) - Global Industry Research
3.2 Polypropylene composites Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2023-2030 (Volume/Units)
4.1 Glass fiber Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Carbon fiber Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2023-2030 ($M)
5.1 Polypropylene Market 2023-2030 ($M) - Regional Industry Research
5.2 Polypropylene composites Market 2023-2030 ($M) - Regional Industry Research
6.North America PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2023-2030 ($M)
6.1 Glass fiber Market 2023-2030 ($M) - Regional Industry Research
6.2 Carbon fiber Market 2023-2030 ($M) - Regional Industry Research
7.South America PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2023-2030 ($M)
7.1 Polypropylene Market 2023-2030 ($M) - Regional Industry Research
7.2 Polypropylene composites Market 2023-2030 ($M) - Regional Industry Research
8.South America PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2023-2030 ($M)
8.1 Glass fiber Market 2023-2030 ($M) - Regional Industry Research
8.2 Carbon fiber Market 2023-2030 ($M) - Regional Industry Research
9.Europe PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2023-2030 ($M)
9.1 Polypropylene Market 2023-2030 ($M) - Regional Industry Research
9.2 Polypropylene composites Market 2023-2030 ($M) - Regional Industry Research
10.Europe PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2023-2030 ($M)
10.1 Glass fiber Market 2023-2030 ($M) - Regional Industry Research
10.2 Carbon fiber Market 2023-2030 ($M) - Regional Industry Research
11.APAC PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2023-2030 ($M)
11.1 Polypropylene Market 2023-2030 ($M) - Regional Industry Research
11.2 Polypropylene composites Market 2023-2030 ($M) - Regional Industry Research
12.APAC PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2023-2030 ($M)
12.1 Glass fiber Market 2023-2030 ($M) - Regional Industry Research
12.2 Carbon fiber Market 2023-2030 ($M) - Regional Industry Research
13.MENA PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2023-2030 ($M)
13.1 Polypropylene Market 2023-2030 ($M) - Regional Industry Research
13.2 Polypropylene composites Market 2023-2030 ($M) - Regional Industry Research
14.MENA PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2023-2030 ($M)
14.1 Glass fiber Market 2023-2030 ($M) - Regional Industry Research
14.2 Carbon fiber Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)2.Canada Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
3.Mexico Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
4.Brazil Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
5.Argentina Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
6.Peru Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
7.Colombia Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
8.Chile Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
9.Rest of South America Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
10.UK Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
11.Germany Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
12.France Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
13.Italy Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
14.Spain Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
15.Rest of Europe Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
16.China Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
17.India Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
18.Japan Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
19.South Korea Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
20.South Africa Polypropylene And Polypropylene Composites Market Revenue, 2023-2030 ($M)
21.North America Polypropylene And Polypropylene Composites By Application
22.South America Polypropylene And Polypropylene Composites By Application
23.Europe Polypropylene And Polypropylene Composites By Application
24.APAC Polypropylene And Polypropylene Composites By Application
25.MENA Polypropylene And Polypropylene Composites By Application
26.Borealis AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Braskem S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Petroleum Chemical Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.DowDuPont Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Exxon Mobil Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Formosa Plastics Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.INEOS Group Holdings S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.LyondellBasell Industries Holdings B.V., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Saudi Basic Industries Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Sumitomo Chemical Company, Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)