Short Glass Fiber Reinforced Polypropylene Market

Updated On : 21 April 2024

SHORT GLASS FIBER REINFORCED POLYPROPYLENE MARKET REPORT OVERVIEW

The global Short Glass Fiber Reinforced Polypropylene market size was USD 1655.71 million in 2024 and the market is projected to touch USD 2926.02 million by 2031, exhibiting a CAGR of 8.5% during the forecast period of 2024 to 2031.

The thermoplastic polymer matrix of short glass fibre-reinforced polypropylene PP. Glass-reinforced plastic (GRP) is a composite material or fibre-reinforced plastic made of plastic reinforced by fine glass fibres. Like graphite-reinforced plastic, the composite material is commonly referred to as fibreglass. The glass can be in the form of a chopped strand mat (CSM) or a woven fabric.

Composites include fibre-reinforced materials and organic matrices, with the most commonly used materials being Glass Fiber Reinforced Polymer (GFRP) and Carbon Fiber Reinforced Polymer (CFRP) composites, followed by composites reinforced with aramid or natural fibres. After a decline in production in 2020, the global composites industry is gradually returning to pre-pandemic growth rates, with the energy, electronics/electrical, construction, marine and consumer goods markets showing rapid recovery. New growth opportunities are also emerging in emerging sectors such as electric and hydrogen-fueled vehicles, marine, sports and recreation, medical, electrical and electronics, oil and gas, furniture and design, defence and security, and renewable energy. Between now and the future, composites will provide higher performance, lighter, more energy-efficient as well as more durable products in a wider range of applications and markets.

COVID-19 Impact: Multifaced due to the challenges as well as opportunities

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has significantly impacted the short glass fibre-reinforced polypropylene market, presenting a mix of challenges and opportunities for industry stakeholders. During the initial phases of the pandemic, widespread lockdowns, supply chain disruptions, and reduced manufacturing activities led to a decline in demand for automotive components, construction materials, and consumer goods—major sectors driving the consumption of short glass fibre-reinforced polypropylene. Disruptions in global trade and logistics networks hindered the supply of raw materials, including polypropylene resin and glass fibres, exacerbating the challenges faced by manufacturers of short glass fibre-reinforced polypropylene compounds.

Looking ahead, the short glass fibre-reinforced polypropylene market is expected to rebound as economies recover from the pandemic-induced downturn and industries resume operations. Investments in infrastructure development, automotive electrification, and lightweight initiatives are anticipated to drive the demand for polypropylene-based materials in the construction, automotive, and aerospace sectors. Moreover, ongoing efforts to enhance product performance, recyclability, and sustainability will likely shape the future growth trajectory of the market in a post-pandemic landscape.

LATEST TRENDS

"Increased Emphasis On Lightweight To Improve Efficiency That Propel The Market Growth"

With a growing focus on reducing vehicle weight to improve fuel efficiency and meet stringent emission regulations, there is a rising demand for lightweight materials in the automotive industry. Short glass fibre-reinforced polypropylene compounds offer a compelling solution due to their high strength-to-weight ratio, making them ideal for replacing heavier materials in automotive components such as bumpers, under-the-hood parts, and interior trim. The transition towards electric vehicles is driving demand for lightweight materials that can help extend driving range and improve battery efficiency. Short glass fibre-reinforced polypropylene composites are increasingly being used in EV battery casings, interior components, and structural reinforcements to reduce weight without compromising on strength or durability. As the EV market continues to expand, the demand for polypropylene-based materials is expected to surge.

SHORT GLASS FIBER-REINFORCED POLYPROPYLENE MARKET SEGMENTATION

By Type

Based on type the market can be categorized into injection moulding and extrusion moulding

• Injection moulding: Short glass fibre-reinforced polypropylene compounds are widely used in injection moulding processes to produce complex-shaped components with high precision and dimensional stability. Injection moulding offers advantages such as fast cycle times, high production volumes, and the ability to incorporate intricate geometries, making it suitable for automotive, electronics, and consumer goods applications.
• Extrusion moulding: Short glass fibre-reinforced polypropylene materials can also be processed through extrusion moulding techniques to manufacture profiles, sheets, and tubes with consistent cross-sectional shapes. Extrusion moulding is commonly used in applications such as automotive body panels, building materials, and industrial components, offering benefits such as cost-effectiveness, scalability, and versatility in design.

By Application

Based on application the market can be categorized into automotive, aerospace, electrical & electronics, construction, and others.

• Automotive: The automotive industry is the largest application segment for short glass fiber-reinforced polypropylene materials. These compounds are used in various automotive components, including interior trim parts, under-the-hood components, structural reinforcements, and exterior body panels. The lightweight, high-strength properties of polypropylene composites make them ideal for improving fuel efficiency, reducing emissions, and enhancing vehicle performance.
• Aerospace: Short glass fiber-reinforced polypropylene materials find applications in the aerospace sector for producing lightweight, durable components such as interior panels, cabin fittings, and structural reinforcements. The aerospace industry's stringent requirements for weight reduction, fuel efficiency, and safety drive the demand for high-performance polypropylene composites that offer superior mechanical properties and resistance to environmental factors.
• Electrical & electronics: Short glass fibre-reinforced polypropylene compounds are used in electrical and electronic applications to manufacture housings, connectors, insulating components, and structural supports which offer excellent electrical insulation properties, thermal stability, and dimensional accuracy, making them suitable for use in consumer electronics, appliances, electrical enclosures, and power distribution systems.
• Construction: In the construction industry, short glass fibre-reinforced polypropylene materials are utilized for producing building materials, infrastructure components, and architectural elements offering advantages such as weather resistance, impact strength, and ease of processing, making them suitable for applications such as window profiles, door frames, drainage systems, and structural reinforcements.
• Others: Short glass fibre-reinforced polypropylene composites are also used in a variety of other applications, including industrial equipment, recreational vehicles, packaging, and sports equipment. These materials provide lightweight, corrosion-resistant, and cost-effective solutions for diverse end-use sectors, contributing to their widespread adoption and market growth.

DRIVING FACTORS

"Light Weighting Initiative Improve Efficiency Boosting Market Growth"

The growing emphasis on lightweighting across industries, particularly automotive and aerospace, is a significant driver for the short glass fiber-reinforced polypropylene market. As manufacturers seek to improve fuel efficiency, reduce emissions, and enhance performance, there is a rising demand for lightweight materials that offer high strength and durability. Short glass fibre-reinforced polypropylene compounds fulfil these requirements by providing a balance between weight reduction and mechanical performance, making them an attractive choice for replacing heavier materials such as metals and thermoset plastics.

"Expansion Through Increased Application Across Industries Driving The Market Growth"

The expanding range of applications for short glass fiber-reinforced polypropylene market growth is succeeding as per the demand. These materials are versatile and find use in diverse sectors such as automotive, aerospace, electrical & and electronics, construction, and others. The automotive industry, in particular, continues to be a major driver of demand for polypropylene-based composites, with applications ranging from interior components to structural reinforcements. Additionally, the adoption of short glass fiber-reinforced polypropylene in emerging sectors such as renewable energy, medical devices, and consumer goods further contributes to market expansion.

RESTRAINING FACTOR

"Cost Competitiveness Due To Competitiveness Challenges To Pose Potential Impediments To Market Growth"

Despite their numerous advantages, cost competitiveness remains a significant restraining factor for the short glass fiber-reinforced polypropylene market. While polypropylene-based composites offer benefits such as lightweight, high strength, and design flexibility, they may face price competition from alternative materials such as traditional thermoplastics, metals, and natural fibre composites. Additionally, the higher upfront costs associated with the development and processing of short glass fiber-reinforced polypropylene compounds may deter some manufacturers from adopting these materials, especially in price-sensitive industries or regions. Overcoming cost barriers through technological innovations, process optimization, and economies of scale is essential to drive wider adoption and market growth.

SHORT GLASS FIBER REINFORCED POLYPROPYLENE MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa.

"Asia-Pacific Region To Dominate The Market Due To Its Vast Expansion In Manufacturing Hub"

Asia-Pacific region's manufacturing prowess, dominance in key industries such as automotive and electronics, infrastructure development initiatives, and supportive government policies position it as the dominant force in the global short glass fiber reinforced polypropylene market. These countries have well-established manufacturing ecosystems, comprising raw material suppliers, processors, and end-user industries, facilitating the production and consumption of short glass fiber-reinforced polypropylene materials.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Polypropylene market Landscape through Innovation and Global Strategy"

Major industry players are pivotal in shaping the short glass fiber-reinforced polypropylene market share is the, driving change through a dual strategy of continuous innovation and a well-thought-out global presence. By consistently introducing inventive solutions and staying at the forefront of technological progress, these key players redefine the industry’s standards. Simultaneously, their expansive global reach enables effective market penetration, addressing diverse needs across borders. The seamless blend of groundbreaking innovation and a strategic international footprint positions these players as not only market leaders but also as architects of transformative shifts within the dynamic domain of short glass fibre-reinforced polyprothene materials.

List of Market Players Profiled

• BASF (Germany)
• Lanxess (Germany)
• DSM (Netherlands)
• SABIC (Saudi Arabia)
• PolyOne (U.S.)
• DuPont (U.S.)

INDUSTRIAL DEVELOPMENT

July 2020: there was a Development of high-performance glass fibre-polypropylene composite laminates regarding the effect of fibre sizing type and coupling agent concentration on mechanical properties. Basic research was conducted in the form of a fibre coating study to assess the requirements for high-performance GF-PP composite laminates. The modification of the PP matrix with MAH-g-PP coupling agent was shown to be the decisive factor in reaching high-strength composites in combination with suitable fibre coatings. Even though direct rovings may be coated with a PP-compatible sizing (possibly containing an MAH-g-PP film former), it was found that the incorporation of further MAH-g-PP.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the global Short Glass Fiber Reinforced Polypropylene marke. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.