Rise in demand for polypropylene and polypropylene composites, low cost of labor and advantages of mass production, and better waste management are the major driver of the global polypropylene and polypropylene composites market for injection molding. However, high initial tooling cost and availability of other substitutes hamper the market growth. On the contrary, increase in robotics in injection molding is expected to create lucrative opportunities in the near future.

Portland, OR, April 10, 2019 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, “Polypropylene and Polypropylene Composites Market for Injection Molding, By Product (Polypropylene (PP) and Polypropylene Composites), Fiber Type (Glass Fiber, Carbon Fiber and Others), and Application (Packaging, Building & Construction, Automotive, Electrical & Electronics and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025”. According to the report, the global polypropylene and polypropylene composites market was pegged at $41.94 billion in 2017 and is projected to garner $84.42 billion by 2025, registering a CAGR of 8.3% during the period 2018–2025.

Growth Drivers and Industry Trends

Global polypropylene and polypropylene composites market for injection molding is divided on the basis of product, fiber type, application, geography. Based on product, the market is segmented into polypropylene (PP) and polypropylene composites. The polypropylene (PP) segment held the largest share in 2017, contributing nearly two-thirds of the total market. However, the polypropylene composites segment is projected to manifest the fastest CAGR of 8.9% during the forecast period.

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Segmentation Analysis of the Industry

Based on fiber type, the market is divided into carbon fiber, glass fiber, and others. The glass fiber segment is expected to register the fastest CAGR of 10.2% during the study period, owing to increase in trend of using injection molding for processing polypropylene glass fiber composites.

On the basis of application, the market is segmented into packaging, building & construction, automotive, electrical & electronics, and others (textiles & consumer products). The packaging segment held the largest share in 2017, contributing nearly two-fifths of the total market. However, the automotive segment is estimated to portray the fastest CAGR of 11.1% through 2025.

Based on geography, the market is analyzed in various regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA). North America region dominated the market in terms of revenue, contributing more than one-third of the total market. However, the market in the Asia-Pacific region is projected to grow at a CAGR of 9.6% during the forecast period.

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Industry Key Players

The report includes in-depth analysis of the major market players such as Sumitomo Chemicals, Borealis AG, Sinopec Ltd, Exxon Mobil Corporation, Formosa Plastics Corporation, SABIC, DuPont, Lyondell Basell Industries N.V., INEOS, and Braskem.

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