Polypropylene And Polypropylene Composites Market - Forecast(2023 - 2028)

Report Code: CMR 18842 Report Format: PDF + Excel

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)

Polypropylene And Polypropylene Composites Market

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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.

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1. Polypropylene And Polypropylene Composites Market- Market Overview
    1.1 Definitions and Scope
2. Polypropylene And Polypropylene Composites Market - Executive Summary
    2.1 Key Trends by Fiber Type
    2.2 Key Trends by Product Type
    2.3 Key Trends by Application
    2.4 Key Trends by End-Use Industry
    2.5 Key Trends by Geography
3. Polypropylene And Polypropylene Composites Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Polypropylene And Polypropylene Composites Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Polypropylene And Polypropylene Composites Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Polypropylene And Polypropylene Composites Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Polypropylene And Polypropylene Composites Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Polypropylene And Polypropylene Composites Market – By Fiber Type (Market Size -US$ Million/Billion)
    8.1 Carbon Fiber
    8.2 Glass Fiber
    8.3 Aramid Fiber
    8.4 Others
9. Polypropylene And Polypropylene Composites Market – By Product Type (Market Size -US$ Million/Billion)
    9.1 Polypropylene (PP)
    9.2 Polypropylene Composites
    9.3 Others
10. Polypropylene And Polypropylene Composites Market – By Application (Market Size -US$ Million/Billion)
    10.1 Air And Moisture Barrier Membranes
    10.2 Carpet Textiles
    10.3 Insulating Building Wraps
    10.4 Industrial Adhesives and Tapes
    10.5 Piping
    10.6 Dielectric Medium
    10.7 Packaging
    10.8 Structural Assembly
    10.9 Powertrain Component
    10.10 Chassis
    10.11 Fabrics
    10.12 Others
11. Polypropylene And Polypropylene Composites Market – By End Use Industry (Market Size -US$ Million/Billion)
    11.1 Automotive
        11.1.1 Passenger Cars
        11.1.2 Light Commercial Vehicles
        11.1.3 Heavy Commercial Vehicle
    11.2 Building & Construction
        11.2.1 Residential Construction
            11.2.1.1 Independent homes
            11.2.1.2 Row homes
            11.2.1.3 Large apartment buildings
        11.2.2 Commercial Construction
            11.2.2.1 Hospitals and Healthcare Infrastructure
            11.2.2.2 Educational Institutes
            11.2.2.3 Hotels and Restaurants
            11.2.2.4 Banks and Financial Institutions
            11.2.2.5 Airports
            11.2.2.6 Hyper and Super Market
            11.2.2.7 Shopping Malls
            11.2.2.8 Others
        11.2.3 Industrial
        11.2.4 Infrastructure
    11.3 Electrical and Electronics
    11.4 Textile and Apparel
    11.5 Aerospace and Defense
    11.6 Others
12. Polypropylene And Polypropylene Composites Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Polypropylene And Polypropylene Composites Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Polypropylene And Polypropylene Composites Market – Industry/Segment Competition Landscape Premium
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share at Country Level - Major companies
    14.4 Market Share by Key Geography - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product - Major companies
15. Polypropylene And Polypropylene Composites Market – Key Company List by Country Premium Premium
16. Polypropylene And Polypropylene Composites Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2019-2024 ($M)
1.1 Polypropylene Market 2019-2024 ($M) - Global Industry Research
1.2 Polypropylene composites Market 2019-2024 ($M) - Global Industry Research
2.Global PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2019-2024 ($M)
2.1 Glass fiber Market 2019-2024 ($M) - Global Industry Research
2.2 Carbon fiber Market 2019-2024 ($M) - Global Industry Research
3.Global PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2019-2024 (Volume/Units)
3.1 Polypropylene Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Polypropylene composites Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2019-2024 (Volume/Units)
4.1 Glass fiber Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Carbon fiber Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2019-2024 ($M)
5.1 Polypropylene Market 2019-2024 ($M) - Regional Industry Research
5.2 Polypropylene composites Market 2019-2024 ($M) - Regional Industry Research
6.North America PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2019-2024 ($M)
6.1 Glass fiber Market 2019-2024 ($M) - Regional Industry Research
6.2 Carbon fiber Market 2019-2024 ($M) - Regional Industry Research
7.South America PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2019-2024 ($M)
7.1 Polypropylene Market 2019-2024 ($M) - Regional Industry Research
7.2 Polypropylene composites Market 2019-2024 ($M) - Regional Industry Research
8.South America PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2019-2024 ($M)
8.1 Glass fiber Market 2019-2024 ($M) - Regional Industry Research
8.2 Carbon fiber Market 2019-2024 ($M) - Regional Industry Research
9.Europe PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2019-2024 ($M)
9.1 Polypropylene Market 2019-2024 ($M) - Regional Industry Research
9.2 Polypropylene composites Market 2019-2024 ($M) - Regional Industry Research
10.Europe PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2019-2024 ($M)
10.1 Glass fiber Market 2019-2024 ($M) - Regional Industry Research
10.2 Carbon fiber Market 2019-2024 ($M) - Regional Industry Research
11.APAC PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2019-2024 ($M)
11.1 Polypropylene Market 2019-2024 ($M) - Regional Industry Research
11.2 Polypropylene composites Market 2019-2024 ($M) - Regional Industry Research
12.APAC PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2019-2024 ($M)
12.1 Glass fiber Market 2019-2024 ($M) - Regional Industry Research
12.2 Carbon fiber Market 2019-2024 ($M) - Regional Industry Research
13.MENA PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY PRODUCT Market 2019-2024 ($M)
13.1 Polypropylene Market 2019-2024 ($M) - Regional Industry Research
13.2 Polypropylene composites Market 2019-2024 ($M) - Regional Industry Research
14.MENA PP PP COMPOSITES MARKET FOR INJECTION MOLDING, BY FIBER TYPE Market 2019-2024 ($M)
14.1 Glass fiber Market 2019-2024 ($M) - Regional Industry Research
14.2 Carbon fiber Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
2.Canada Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
3.Mexico Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
4.Brazil Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
5.Argentina Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
6.Peru Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
7.Colombia Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
8.Chile Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
9.Rest of South America Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
10.UK Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
11.Germany Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
12.France Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
13.Italy Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
14.Spain Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
15.Rest of Europe Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
16.China Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
17.India Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
18.Japan Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
19.South Korea Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($M)
20.South Africa Polypropylene And Polypropylene Composites Market Revenue, 2019-2024 ($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)