Published: Sep-2022|  Format: PDF | MBI Research |  Number of pages: 140 | Code: MBI-3928336

Polypropylene (PP) Compound Market Size, Share, Growth & Demand Analysis Report By Type (Mineral filled PP compounds, Compounded TPO, Compounded TPV, Glass reinforced, and Others) By End-Use (Automotive, Appliances, Consumer Electronics, Packaging, Industrial, Others) Forecast Period 2022-2030

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Market Overview:

The Global Polypropylene Compound Market size was valued at USD 17.85 billion in 2021 and is projected to register a valuation of USD 25.75 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.3% over the forecast period 2022-2030.

Growing stringent regulations and standards regarding vehicle emissions such as Long Fiber Thermoplastic (LFT) Polypropylene (PP) compounds for the production of a range of vehicle parts and components to reduce overall vehicle weight, improve fuel efficiency using lighter materials. , and reduce carbon emissions, and these are among the key factors projected to drive Polypropylene compound market revenue growth during the forecast period.

Polypropylene is a synthetic resin polymer made from propylene. One of the important families of polyolefin resins, polypropylene is molded or extruded into many plastic products that require toughness, flexibility, lightweight, and heat resistance. It has also become a fiber for employment in industrial and home textiles. Propylene can be polymerized with ethylene to form a flexible ethylene-propylene copolymer.

PP is the most widely used thermoplastic in various application areas and for various types of end products. Some include plastic packaging materials, machinery with plastic parts, appliances, and many others. High working temperature, tensile strength, chemical resistance, and low absorption properties enable PP to be used for many different applications.

Covid-19 Impact Analysis:

The outbreak of COVID-19 and the subsequent extent of lockdown have impacted the polypropylene compound market across the globe. As the Covid-19 crisis continues, many global industrial manufacturing companies are facing challenging times including production shutdowns, transportation, supply chain disruptions, cost increases, and workforce disruptions, which negatively affect the pp compound industry in terms of revenue.

The supply of PP has been affected by the Covid-19 pandemic. This results in lower demand from industries such as automotive and building and construction. Additionally, crude oil prices fell significantly due to reduced demand.

What are the Global Polypropylene Compound Market Drivers?

The increasing automotive and electronics industries in emerging nations is expected to be the main growth factor for the global market during the forecast period. The polypropylene compound market continues to grow, with a wide range of existing applications such as manufacturing piping systems, products for laboratory use, food containers, and clear bags. The use of polypropylene compounds is seeing increasing demand, especially in the manufacture of pipes.

The automotive industry is a key segment as the demand for polypropylene resin as a replacement for metals and electronics plastics in automotive manufacturing continues to grow.

Polypropylene Compound Market Top Companies Profiles:

  • 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)

Global Polypropylene Compound Market Segmentation:

The Global Polypropylene (pp) compound market is segmented by type, by end-use, and region. By type; mineral-filled PP compounds, compounded TPO, compounded TPV, glass reinforced, and others. By end-use; Automotive, Appliances, Consumer Electronics, Packaging, Industrial, Others. By region; Latin America, North America, Europe, Asia-pacific, the Middle East, and Africa.

Type Analysis

Copolymers have various applications, including the production of injection molds and medicine bottles in the pharmaceutical industry. It is also used in the manufacture of various automobile parts such as dashboards and bumpers.

  • Mineral-filled PP compounds
  • Compounded TPO
  • Compounded TPV
  • Glass Reinforced
  • Others

End-User Analysis

Packaging is a major application area for polypropylene due to its properties of high-temperature resistance, flexibility, moisture barrier, and lightweight nature, making it an ideal material for food packaging.

  • Automotive
  • Appliances
  • Consumer Electronics
  • Packaging
  • Industrial
  • Others

Regional Analysis by Market Business Insights:

The global Polypropylene (pp) compound market is categorized into regions such as Latin America, North America, Europe, Asia-pacific, the Middle East, and Africa.

Asia-Pacific to Witness Rapid Growth Over the Forecast Period

The Asia Pacific region is expected to show high growth in this market owing to the increasing demand from the packaging and automotive manufacturing industries. China, Japan, and India are the major contributors to the market growth in this region due to the increasing use of PP in the food and beverage, packaging and automobile industries in these countries. Major market players are trying to expand their presence in this segment owing to the huge opportunities in the growing automotive and construction industries.

Region Covered:

  • North America (United States, Canada)
  • Latin America (Argentina, Brazil, Mexico, Rest of LATAM)
  • Europe (U.K., Germany, Spain, France, Italy, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Denmark, Sweden, Norway, Finland), Russia, Poland, Rest of Europe)
  • The Middle East and Africa (Israel, GCC (Saudi Arabia, Bahrain, Kuwait, UAE, Qatar, Oman), South Africa, North Africa, Rest of the Middle East and Africa)
  • Asia-Pacific (China, South Korea, India, Japan, Malaysia, Hong Kong, Australia, Indonesia, Taiwan, New Zealand, Rest of Asia-Pacific)

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