The growth in the market is expected to be driven mainly by the need to reduce the weight of vehicles and demand for cheaper products that can be used in automotive parts. Impact of COVID-19 on the Global Polypropylene (PP) Compound Market for Automotive Industry
New York, Aug. 19, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “PP Compound Market for Automotive Industry – A Global and Regional Analysis: Focus on Product, Application, and Countries – Analysis and Forecast, 2021-2031” – https://www.reportlinker.com/p06129775/?utm_source=GNW
Due to the COVID–19 pandemic, the PP compound market was severely impacted like many other industries.Automotive production in 2020 saw a decline of almost 16% due to the impact of COVID-19.
In order to control the spread of the virus, the majority of the countries around the globe imposed stay-at-home orders, which led to the shutting of many manufacturing plants. As the production of vehicles declined, the demand for PP compounds suffered negatively in the year 2020.
Market Segmentation
Global Polypropylene (PP)…
