Global automotive industry polypropylene compounds market value 2021-2031

Published by
Madhumitha Jaganmohan,
Jan 10, 2024
The global market value of polypropylene (PP) compounds for the automotive industry is anticipated to witness substantial growth, reaching a value of 17.3 billion U.S. dollars by 2031. This growth can be attributed to the rising demand for improved fuel efficiency and cost-effectiveness; both in the automotive sector itself and amongst many automotive industry products. PP's lightweight property aids in reducing the overall weight of vehicles, resulting in better fuel efficiency and lower emissions. Furthermore, PP is a cost-effective alternative to other materials.

Market value of polypropylene compounds for the automotive industry worldwide in 2021, with a forecast to 2031 (in billion U.S. dollars)

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Release date

2021

Region

Worldwide

Survey time period

2021

Supplementary notes

*Forecast based on CAGR of 5.6 percent from 2021 to 2031.

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