Global Polypropylene Compound Market to Grow at a (CAGR) of 6.3% during the Forecast Period 2022-2030

Sep-2022 | Chemicals & Materials

As specified in our exclusive report, the Global Polypropylene (PP) Compound Market is projected to reach USD 25.75 billion by 2030.

Growth Drivers:

The growing demand for high-powered lightweight products in the automotive industry to reduce vehicle weight and promote fuel efficiency is anticipated to accelerate target pp compound market growth.

Polypropylene (PP) is a thermoplastic polymer created via chain-growth polymerization from the monomer propylene. Propylene is a gaseous compound obtained by thermal cracking of ethane, propane, butane, and naphtha fraction of petroleum. These minerals enhance the mechanical properties and affect the hardness of polypropylene materials, as well as reduce their molding shrinkage, thus improving their dimensional stability. Mineral-filled polypropylene plastic can be widely used in outdoor air conditioning units, small appliance housing, electronic and electrical components, engineering structural components, etc.

The inclusion of minerals in polypropylene compounds gives them greater heat deformation and hardness. These polypropylene products are available in versions such as natural-colored, colored, and UV-stabilized formulations.

Which region holds the largest share?

The Asia Pacific market is expected to be the largest and fastest growing market over the forecast period, owing to the strong demand from the automotive industry and consumer electronics, especially in emerging countries like India and China. The flexible packaging industry in Asia-Pacific is growing rapidly due to its advantages, such as simple handling, portable packaging, and lightweight.

Development of the Market:

ExxonMobil has announced plans to build a new polypropylene production plant on the US Gulf Coast in Louisiana. The plant will expand the manufacturing capacity of its local unit to 4,50,000 tonnes per annum.

Some of the key players in the Polypropylene (PP) Compound Market are:

  • LyondellBasell Industries N.V. (Netherlands)
  • ExxonMobil Chemical (U.S.)
  • China National Petroleum Corporation (China)
  • INEOS (UK)
  • China Petroleum & Chemical Corporation (China)
  • SABIC (Saudi Arabia)
  • Ducor Petrochemicals (Netherlands)
  • Reliance Industries Limited (India)
  • Formosa Plastic Group (Taiwan)
  • Total S.A. (France)
  • Braskem (Brazil)
  • BASF SE (Germany)
  • Repsol (Spain)
  • Borouge (UAE)
  • Borealis AG (Austria)
  • MOL Group (Hungary)
  • Beaulieu International Group (Belgium)

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