Scienza e Tecnologia
Modified Polypropylene Market Size Worth $56.35 Billion By 2030: Grand View Research, Inc.
Modified polypropylene exhibits superior flowability, high UV resistance, impact resistance chemical resistance, and negligible water absorption, which makes it suitable to be used in the manufacturing of front and rear-end bumpers, protective side strips, and mud guards.
The rising income of the population and improvements in the standard of living are driving the interior designing market and are influencing interior designers and furniture manufacturers to introduce new designs in the market. Moreover, the investments in the construction of smart cities, airports, and commercial buildings by governments across the globe are driving the demand for smart planning and technology integrated interior design services, which is anticipated to drive the market for modified polypropylene in furniture designing.
The construction industry in the developing countries, including Kenya and Nigeria , in the African continent, has witnessed growth in recent years due to the sizable refugee population and infrastructure development. In addition, the easing of geopolitical tensions in the country is a major factor for reconstruction, in turn, boosting the growth of the construction industry in the region. The growth in the construction industry is expected to boost the demand for modified polypropylene over the coming years.
Key players are carrying out strategic initiatives such as mergers and acquisitions to strengthen their position in the market. For instance, in June 2021 , LyondellBasell Industries Holdings B.V. completed the acquisition of PolyPacific Polymers Sdn. Bhd. (PPM) in Port Klang, Malaysia . This acquisition is expected to bring a 25kt manufacturing facility producing reinforced and modified polyolefin compounds under the control of LyondellBasell Industries Holdings B.V. and strengthen its position in the market in the Asia Pacific region.
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James
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Grand View Research, Inc.
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