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    Polypropylene Panels Market Report

    Polypropylene Panels Market Report
    Report code - SR2904 Published On : Jun,2024 No. of Pages: 100
    Polypropylene Panels Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

    Market Insights

    “The global polypropylene panels market size was US$ 298.9 million in 2023 and is likely to grow at a healthy CAGR of 3.8% in the long run to reach US$ 387.0 million in 2030.”

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    The polypropylene panels market consists of two types: bubble sheets and honeycomb. Bubble sheets feature a unique internal structure with bubble-like cells, which enhances their strength and resistance to bending. Additionally, the air pockets within the bubble structure provide excellent thermal insulation, aiding in temperature stability. On the other hand, honeycomb panels have a honeycomb core made from PP. These panels are highly efficient in terms of weight-to-strength ratio. The honeycomb core's hexagonal cell arrangement evenly distributes weight and stress across the panel. Both types of products can be manufactured in various sizes, thicknesses, and configurations to meet different application requirements.

    Drivers

    PP panels are widely used across various industries, including automotive, construction, packaging, and renewable energy, due to their lightweight nature and superior strength and rigidity. PP panels are also widely used to create reusable shipping containers, pallets, and other logistics solutions. In the forecast period, the use of PP panels is expected to grow significantly in renewable energy (solar panels and wind turbines). Additionally, PP panels are recyclable, making them more environmentally friendly than other materials. Their durability allows for repeated use, and their lightweight nature reduces shipping costs. These factors collectively drive the market's growth.

    Recent Market Partnerships:

    • In January 2021, Fynotej announced two new automotive OEM contracts using EconCore’s technology. The company has secured two major contracts to supply 120,000 m2 of trunk load floors over two years using Fynocore. Fynocore is the brand name for Fynotej’s continuous honeycomb technology, licensed from EconCore in Belgium.
    • In April 2021, Honeycomb Technology Company: EconCore (Leuven, Belgium) and Renolit SE (Rheinland-Pfalz, Germany) partnered to explore the various issues of lightweight, modular design and easily formable and rigid structures for the automotive industry and other markets via EconCore’s polypropylene (PP) honeycomb. Through this collaboration, Renolit SE has also sought to improve chemical, thermal, water-resistance, and rot-resistance properties.

    Recent Market Expansion:

    • In October 2020, Aerolam, one of the leading manufacturers of air bubble Sheets and XLPE insulation, has recently announced an investment of USD 13 million to establish a new manufacturing unit in Ahmedabad, Gujarat, India. This new facility will focus on producing bubble guards. Over the past decade, Aerolam Group has expanded both, vertically and horizontally, exporting various insulation products to 13 countries, this expansion solidifies Aerolam's position in the market.

    Recent Product Development:

    • In April 2019, Inteplast Group Launched the Intepro® TITAN™ bubble board. This innovative item is a three-ply laminated sheet with a unique inner core construction. The core features a bubble pattern resembling a honeycomb, this enables Inteplast to create a bi-directionally strong material suitable for heavy-duty application.
    • In April 2023, ThermHex introduced its polypropylene (PP) honeycomb for solar modules at the JEC World in Paris, the world’s largest exhibition for composites, the panel consists of two thin cover layers of thermoplastic fiber composites (UD tape glass-fiber reinforced polypropylene) and a ThermHex PP honeycomb core.

    Segments' Analysis

    Segmentations

    List of Sub-Segments

    Segments with High Growth Opportunity

    Application-Type Analysis

    Outdoor Signs & Displays, Packaging & Protections, Building Solutions, Automotive Renewable Energy, and Others.

    Automotive is anticipated to be the biggest demand generator of the market in the years to come.

    Thickness-Type Analysis

    <=10 MM, 11-20 MM, and >20 MM

    <=10 MM is estimated to contribute the largest share of the thickness type.

    Outer Skin Material-Type Analysis

    PP and Others.

    PP is projected to maintain its dominance as the most preferred outer skin throughout the forecast period.

    Product-Type Analysis

    Honeycomb and Bubble Sheets

    Bubble Sheet is expected to continue as the leading type during the forecast period

    Region Analysis

    North America, Europe, Asia-Pacific, and Rest of the World

    North America is projected to maintain its leadership throughout the forecast period, while Asia-Pacific is expected to exhibit the highest growth.

    Application Trends

    Automotive is expected to remain dominant, whereas Renewable Energy is estimated to be the fastest-growing application of the market during the forecast period.

    • The PP Panels Market is segmented into Outdoor Signs & Displays, Packaging & Protections, Building Solutions, Automotive, Renewable Energy, and Others.
    • The automotive industry takes the lead in terms of dominance as PP panels are lightweight compared to many conventional materials. This reduction in weight helps improve fuel efficiency and performance in vehicles along with this PP panels possess a high degree of strength and rigidity, making them suitable for various automotive applications, including door panels, seatback covers, vehicle load floors, spare tire covers, automotive totes, interior dunnage, interior parts, trunk liners, and load bearers among others.
    • PP Panel is expected to have the highest growth rate in renewable energy owing to the growing applications of PP honeycomb panels in solar panels and wind turbines. These panels have excellent resistance to moisture, chemicals, and UV, making them robust and ideal for the prevailing harsh environmental conditions common in renewable energy, especially wind power equipment in areas near the coast and solar panels in extremely exposed places.

    Thickness Trends

    <=10 MM is expected to remain the dominant and fastest-growing thickness type during the forecast period.

    • The market is segmented into <=10 MM, 11-20 MM, and >20 MM thickness
    • Key advantages of <=10 MM this thickness type include lightweight, flexibility, ease of cutting and fabricating, and cost-effectiveness.
    • The PP Bubble Sheet's thickness ranges from 2 MM to 10 MM, and the PP Honeycomb's thickness ranges from 3MM to 30 MM. However, the preferred thickness for the PP honeycomb panel is also <=10 mm, making this the dominant and fastest-growing thickness in the market.

    Outer Skin Material Trends

    "PP is expected to continue as the leading outer skin material type, as well as anticipated to be the fastest-growing outer skin material during the forecast period.”

    • The market is segmented into PP and Others.
    • PP is estimated to remain the predominant material used as the outer skin. PP Bubble Sheets are composed entirely of 100% PP.

    Product Trends

    " Bubble Sheets are forecasted to maintain their position as the leading product type, whereas Honeycomb is expected to emerge as the fastest-growing product category over the forecast period.”

    • The market is segmented into Bubble Sheets and Honeycomb.
    • Bubble Sheets are projected to continue maintaining their dominance as they are extensively adopted across various industries, including automotive, construction, packaging, and other industries due to their lightweight, and enhanced strength and rigidity. The unique bubble structure provides additional strength and rigidity to the panel.
    • Bubble Sheets combine lightweight construction with enhanced strength and rigidity, making them a versatile and cost-effective solution for a wide range of industrial and commercial applications.
    • Honeycomb is expected to experience rapid growth, particularly in renewable energy (solar panels and wind turbines), in the foreseeable future.

    Regional Insights

    North America is expected to remain the largest market for PP Panels. Asia-Pacific is estimated to be the fastest growing during the forecast period.

    • The market for PP panels is dominated by the North American region majorly owing to the presence of key companies such as Inteplast Group and Primex Plastics Corporation, additionally, the region imports PP panels from other regions, further solidifying its position as a high-demand market for PP panels.
    • Asia-Pacific is the fastest-growing region due to the presence of many key players and manufacturing hubs for various industries including automotive, construction, and renewable energy. This focus on manufacturing activities drives the demand for lightweight and durable PP panels in this region.
    • China, Japan, and India are key countries in this region, with China notably holding the dominant market share, all these factors collectively contribute to the growth of the market.

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    Key Players

    The market is consolidated with a few players holding most of the share across regions The majority of companies provide PP Panels for automotive applications. Also, the applications of PP panels are steadily expanding across industries, making it an increasingly attractive product. The following are the key players in the PP Panels Market.

    Here is the list of the Top Players (Based on Dominance)

    • Inteplast Group
    • Primex Plastics Corporation
    • Corplex
    • RENOLIT SE
    • Polyreflex Hi-Tech Co., Ltd
    • Fynotej SRL.de C.V.
    • Karton S.p.A.
    • Topolo New Materials
    • Ozer Group (Hexapan)
    • Gifu Plastics Co. Ltd

    Note: The above list does not necessarily include all the top players in the market.

    Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

    What deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Polypropylene Panels Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    The Polypropylene Panels Market is segmented into the following categories:

    By Product Type

    • Bubble Sheets
    • Honeycomb

    By Application Type

    • Outdoor Signs & Displays
    • Packaging & Protection
    • Building Solutions
    • Automotive
    • Renewable Energy
    • Others

    By Thickness Type

    • <=10 MM
    • 11-20 MM
    • >20 MM

    By Outer Skin Material Type

    • PP
    • Others

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe Country Analysis: Germany, France, The UK, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    Research Methodology

    This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s polypropylene panels market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    PP panels are lightweight and high-strength sheets made from PP. These panels are characterized by a distinctive internal structure composed of bubble-like cells or hexagonal cells in the core. Its key features include durability, cost-effectiveness, recyclability, versatility, etc.

    The Global PP Panels Market is estimated to grow at a CAGR of 3.8% by 2030, driven by growing demand for the packaging. The overall packaging industry is projected to grow at a healthy rate. Furthermore, the applications of PP panels are increasing, substantiating the growth trajectory.

    PP panels are extensively adopted across industries, including automotive, construction, packaging, and other industries. An expected rise in renewable energy and a growing preference towards environmentally friendly and sustainable packaging are key factors driving the demand for PP panels.

    Inteplast Group, Primex Plastics Corporation, Corplex, RENOLIT SE, Polyreflex Hi-Tech Co., Ltd, Fynotej SRL.de C.V., Karton S.p.A., Topolo New Materials, Ozer Group (Hexapan), Gifu Plastics Co. Ltd, and ThermHex Waben GmbH are the leading players in the PP Panels Market.

    North America is estimated to remain dominant in the PP Panels Market in the foreseeable future. North America’s dominance in the PP Panels Market is bolstered by the presence of key players in this region.

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