Global automotive industry polypropylene compounds market value 2021-2031
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.