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Growing construction and building projects across the globe is influencing the high demand for the Glass-Reinforced PP Compound Market.

HYDERABAD, TELANGANA, INDIA, February 9, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Glass-Reinforced PP Compound Market size is projected to reach US$2.7 billion by 2027, after growing at a CAGR of around 7.5% from 2022 to 2027. The glass-reinforced PP compound is a composite material that consists of thermoplastics such as polypropylene reinforced with the glass fibers. This thermoplastic polymer offers superior properties such as lubricity, flame retardance, conductivity and multifunctional performance, thereby having growing application in the market. The high demand for short glass fibers reinforced PP compound as a replacement for engineering plastics and metals in the automotive sector for high heat-extensive applications create a major drive in the glass-reinforced PP compound market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Global-Glass-Reinforced-PP-Compound-Market-Research-507805B

Key takeaways:

This IndustryARC report on the Glass-Reinforced PP Compound Market highlights the following areas -

1. The Glass-Reinforced PP Compound market size will increase owing to its growing demand in automotive applications for batteries, energy and transmission, door panels and others during the forecast period.

2. The Asia Pacific is the fastest-growing region in the glass-reinforced PP compound industry owing to flourishing end-use sectors such as construction, automotive, electronics and others, along with high demand for reinforced PP compound for major industries in this region.

3. The demand of short glass fibers reinforced PP compounds is high due to superior features such as strength, heat resistance, cost-efficiency and others.

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https://www.industryarc.com/pdfdownload.php?id=507805

Segmental Analysis:

1. According to the Society of Indian Automobile Manufacturers (SIAM), the total production of passenger vehicles, three wheelers, two wheelers and quadricycle in India was reported at 1,874,461 units in April 2022.

2. Asia-Pacific is the fastest-growing region in the Glass-Reinforced PP Compound market and is expected to grow with a CAGR of around 9.7% during the forecast period. The Asia-Pacific region held a significant portion of the Glass-Reinforced PP Compound market share in 2021. The robust growth of glass-reinforced PP compound in this region is influenced by its rising demand across major end use industries, along with growing production base in APAC region.

3. The flourishing manufacturing activities for electric vehicle, commercial and passenger vehicles are propelling the demand in the glass-reinforced PP compounds market. Thus, with major demand in the automotive industry, the glass-reinforced PP compounds industry will grow rapidly during the forecast period.

4. The glass-reinforced polypropylene compounds have major applications in the building and construction sector. The short glass fiber, as well as long glass fiber reinforced PP, has growing usage in building materials owing to its superior features such as improved creep resistance, tensile strength, long-term heat resistance and light weight features.

Competitive Landscape:

The top 5 players in the Glass-Reinforced PP Compound Industry are -

1. Mitsui Chemicals, Inc.
2. Japan Polypropylene Corporation
3. Saudi Basic Industries Corporation
4. POLYONE Corporation
5. LyondellBasell Industries Holdings B.V.

Click on the following link to buy the Glass-Reinforced PP Compound Market Report:
https://www.industryarc.com/reports/request-quote?id=507805

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Glass Fiber Reinforced Concrete Market
https://www.industryarc.com/Research/Glass-Fiber-Reinforced-Concrete-Market-Research-503186

B. Polypropylene And Polypropylene Composites Market
https://www.industryarc.com/Research/Polypropylene-And-Polypropylene-Composites-Market-Research-507198

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IndustryARC
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IndustryARC
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