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MA_184636
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Pages: 260
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May 2018 | 1403 Views
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Author(s) :
Ashmita Roy/Gunjan Jeet Sharma
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Tables: 137
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Charts: 38
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The Global Polypropylene and Polypropylene Composites Market for injection molding was valued at $54,703 million in 2016, and is projected to reach $78,381 million by 2023, growing at a CAGR of 5.1% from 2017 to 2023.
Polypropylene is one of the commonly used plastics as well as a fiber. As fiber, polypropylene is used in the manufacturing of artificial turf for sports and leisure activities. It is a thermoplastic, which is made by combining propylene monomer, and is used in numerous applications, such as packaging, reusable containers, laboratory equipment, textiles, and auto components. Attributes such as low cost, electrical insulating properties, heat resistance, easy-to-mold nature, chemical resistance, and convenient end-use applications have led to the widespread usage of injection molded polypropylene. Injection molded polypropylene & polypropylene composites can attain complex and intricate shapes, minimizing wastage of the material, and are used in the various industries. Hence, injection molded plastics are used in the manufacturing of automotive components, interior wrapping, and numerous assembly parts, which fuel their adoption, thereby driving the growth of the global market.
The major driving factor that is responsible for the growth of the injection molded polypropylene and polypropylene composites market is upsurge in demand for polypropylene and polypropylene composites from various industries. Furthermore, low labor cost, advantage of mass production, and better waste management in the injection molding process have fueled the market growth. However, high initial tooling cost of the injection molding and availability of other substitutes providing stiff competition to polypropylene hinder the market growth. On the contrary, robotics used in injection molding process is expected to make future opportunities for the market growth.
The report segments the global polypropylene and polypropylene composites market for injection molding on the basis of product, fiber type, application, and geography. Based on product, the market is segmented into polypropylene (PP) and polypropylene composites. On the basis of fiber type, it is divided into glass fiber, carbon fiber, and others. By application, it is fragmented into transportation, electrical & electronics, aerospace & defense, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include Borealis AG, Sumitomo Chemicals, Exxon Mobil Corporation, Sinopec Ltd, SABIC, Formosa Plastics Corporation, Lyondell Basell Industries N.V., DuPont, INEOS, and Braskem.
Polypropylene and Polypropylene Composites Market for Injection Molding, by Geography
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The Asia-Pacific polypropylene and polypropylene composites market for injection molding is expected to witness rapid growth rate during the forecast period, owing to increase in application of polypropylene in various industries such as automobile, consumer goods & electronics, construction, packaging, and others. Moreover, government policies supporting the use of injection molded polypropylene & polypropylene composites fuel the growth of the market in Asia-Pacific.
Global Polypropylene and Polypropylene Composites Market for Injection Molding, by product
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The polypropylene composites segment is projected to be the most lucrative segment, owing to their versatility, low cost, and high impact resistance. Furthermore, lightweight, high tensile strength, and recyclable nature of polypropylene composites have encouraged automobile manufactures to use polypropylene composites in the exterior and interior parts of the automobile, thereby improving fuel efficiency and minimizing emission.
Global Polypropylene and Polypropylene Composites Market for Injection Molding, by Fiber Type
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The carbon fiber polypropylene composites segment in fiber type is estimated to be grow at highest CAGR during the forecast period, due to high strength to weight ratio, superior corrosion resistance, fatigue resistance, and fire resistance properties of the carbon fiber polypropylene composites.
Key Benefits for Stakeholders
Polypropylene is a thermoplastic material, which is used in numerous applications, such as packaging, reusable containers, laboratory equipment, textiles, and auto components. Attributes such as low cost, electrical insulating properties, heat resistance, easy to mold nature, chemical resistance, and convenient end-use application have led to the widespread usage of polypropylene in plastic injection molding processes. Polypropylene fits into the mold, and is highly responsive to injection pressure and speed. Low cost of the material has made it one of the most ideal raw materials for plastic injection molding products. It is widely used in food & beverages containers, owing to their high chemical resistance and translucent nature. Furthermore, polypropylene is widely utilized in several end-use applications such as flexible packaging, rigid packaging, automotive, and consumer products.
Polypropylene composites are made by reinforcing the polypropylene polymer with fibers such as glass fiber, carbon fiber, and others. This reinforcement helps the polypropylene to attain physical properties such as high tensile strength, lighter weight, superior resistance to heat, and others. The aerospace & defense industry has been one of the major consumers of the polypropylene composites, followed by the automotive industry.
The Asia-Pacific region is one of the largest markets for injection molded polypropylene & polypropylene composites, owing to large-scale application in various industries such as automobile, consumer goods & electronics, construction, packaging, and others. Furthermore, supportive government policies for the use of injection molded polypropylene & polypropylene composites fuel the growth of the market in Asia-Pacific.
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