Polypropylene Resin in the Global Composites Industry Growth of 6.0% CAGR by 2021 - Analysis, Technologies & Forecasts Report 2016-2021 - Vendors: SABIC, Borealis, Mitsui Chemicals - Research and Markets | Business Wire
The future of polypropylene resin in the global composites industry looks good with opportunities in transportation, consumer goods, and electrical/electronics industries. The polypropylene resin market in the global composites industry is expected to reach an estimated $657 million by 2021 and it is forecast to grow at a CAGR of 6.0% by value from 2016 to 2021. The major drivers for market growth are the increasing use of lightweight materials and the performance benefits of reinforced polypropylene composites over metals and pure plastics. Due to the cost-effective injection molding process, polypropylene based composites are suitable for high volume production. Other drivers for market growth are the increasing use of environmentally sustainable thermoplastic composite materials and the replacement of metals in different end use industries.
