Global PP and PP composites market expected to grow to US$87994.23 mlb by 2026

26-Jul-19

Global polypropylene and polypropylene composites market is expected to an estimated value of US$87994.23 mln by 2026, registering a substantial CAGR in the forecast period of 2019-2026, as per databridgemarketresearch.com. This rise in market value can be attributed to the growing demand of polypropylene and polypropylene composites are the low work cost and technological advancements associated with manufacturing.

Market Drivers:

Rising demand for polypropylene and polypropylene composites by various industries

Reduced wastage, heat and chemical resistance, flexibility and convenience of these components drives the growth of this market

The high chemical tolerance, and transparent nature of polypropylene increases its applicability and demand in the food & beverages industry

Rising demand from automobile sector in the use of interior and exterior parts of vehicles to ensure maximum fuel efficiency and reduce harmful emissions

Market Restraints:

High initial cost of setting up tools for injection modelling

Availability of substitutes hinders the growth of this market

Polypropylene and polypropylene composites are produced from the polymerization of propene. It is the most adaptable and versatile fibre that has wide number of applications. It is process as a film for packaging and labelling, and into fibres for clothing, apparel, carpets, bedsheets, amongst others. It is also extensively used for injection moulded articles, wherein plastic products are manufactured by injecting molten substances into a mold, to produce various products including car bumpers, washing bowl etc. They are fully recyclable, heat resistant and flexible components that reduce the overall cost and ensure minimal wastage.