[Research Report] The polypropylene compounds market is projected to reach US$ 25,864.00 million by 2028 from US$ 17,977.40 million in 2021; it is expected to grow at a CAGR of 5.3% from 2021 to 2028.
Polypropylene, a thermoplastic polymer, is used in a variety of applications. It is basically produced through chain-growth polymerization derived from the monomer propylene. Polypropylene compounds are basically thermoplastic resins that are produced by a mixture of one or more polyolefins base along with various components such as strengtheners, fillers, impact modifiers, additives, and pigment. These compounds offer many features and are used in a variety of applications.
In 2020, Asia Pacific held the largest revenue share of the polypropylene compounds market. The Asia Pacific region provides significant growth opportunities for the polypropylene compounds market. China is a major contributor to the market in this region. There is increasing use of polypropylene compounds in the automotive sector. Moreover, the packaging industry in Asia Pacific is growing rapidly; it has become an important part of the manufacturing industry in the region. The growth of the Asia Pacific polypropylene compounds market is primarily attributed to the expansion of the construction, automotive, electrical, and electronics industries in countries such as China, India, and South Korea. Additionally, the players operating in the polypropylene compounds market in the region continue to expand their production capacities and develop of high-performance polypropylene compounds to be able to cater the market in a better way.
Customize This Report To Suit Your Requirement
You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
Polypropylene Compounds Market: Strategic Insights
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Customize This Report To Suit Your Requirement
You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
Polypropylene Compounds Market: Strategic Insights
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Impact of COVID-19 Pandemic on Polypropylene Compounds Market
The COVID-19 pandemic has adversely affected the plastics industry, along with the related markets.The implementation of measures to combat the spread of SARS-CoV-2 has impacted the growth of several industrial sectors. Industries such as automotive and electronics have been impacted by the sudden disruptions in operational efficiencies and value chains due to the lockdown of national and international boundaries. However, economies are striving to revive their operations. The food packaging industry is generating significant demand for polypropylene compounds owing to the consumers’ inclination towards ordering food online. Moreover, the previously postponed construction projects are ready to resume, which would further provide an opportunities for the growth of the polypropylene compounds market players. The companies operating in the market are bouncing back due to the resolution of supply constraints. The elevating demand for polypropylene compounds in industries such as packaging, automotive, building and construction, electrical and electronics, is expected to drive the polypropylene compounds market growth in the coming years.
Market Insights
Increasing Demand from Building and Construction, Textile, Electrical and Electronics, and Automotive Industries Fuels Polypropylene Compounds Market Growth
The polypropylene compounds market is mainly driven by the increasing demand for these products from the building and construction, textiles, electrical and electronics, and automobile industries, among others. In the automotive industry, polypropylene is popularly being used as an alternative to engineering plastics and metals. High strength, rigidity, and purity make these compounds an ideal option in the manufacturing of piping systems. Applications of polypropylene in the building and construction industry include siding, air and moisture barrier membranes, carpet textiles, building insulation wrap films and sheets, industrial adhesives and tapes, and plastic parts.
Material Insights
Based on type, the polypropylene compounds market is segmented into mineral filled PP compounds, compounded TPO, compounded TPV, glass reinforced, and others. The mineral filled PP compounds segment held the largest share of the market in 2020. Calcium carbonate, talc, and mica, among others, added in mineral-filled PP compounds deliver a low-cost filler option in case of price sensitivity. The mineral filled compounds exhibit improved dimensional stability, stiffness, etc., compared unfilled resins. Mineral-filled polypropylene provides high mechanical stiffness, thermal stability, good low-temperature properties, and good dimensional stability over a wide temperature range
End User Insights
Based on end user, the global polypropylene compounds market is divided into automotive, electricals and electronics, packaging, building and construction, textiles, and others. The automotive segment held the largest share of the polypropylene compounds market in 2020. Being a thermoplastic polymer, polypropylene compounds can easily be formed into nearly any shape. Furthermore, they are being used as an economic alternative to any expensive plastics of similar strength and durability, which further helps lower the cost of manufacturing.
A few of the key market players in the global polypropylene compounds market include LyondellBasell Industries Holdings B.V.; Exxon Mobil Corporation; Sumitomo Chemical Co., Ltd; Borealis AG; Rialti S.p.A.; Trinseo; and Total. The market players are highly focused on developing innovative and high-quality products.
Polypropylene Compounds Market Regional Insights
The regional trends and factors influencing the Polypropylene Compounds Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Polypropylene Compounds Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Polypropylene Compounds Market
Polypropylene Compounds Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 17.98 Billion |
| Market Size by 2028 | US$ 25.86 Billion |
| Global CAGR (2021 - 2028) | 5.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Players Density: Understanding Its Impact on Business Dynamics
The Polypropylene Compounds Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Polypropylene Compounds Market are:
- LyondellBasell Industries Holdings B.V.
- Exxon Mobil Corporation
- Sumitomo Chemical Co., Ltd
- Borealis AG
- Rialti S.p.A.
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Polypropylene Compounds Market top key players overview
Report Spotlights
- Progressive trends in the polypropylene compounds industry to help companies develop effective long-term strategies
- Business growth strategies adopted by the polypropylene compounds market players in developed and developing markets
- Quantitative analysis of the market from 2019 to 2028
- Estimation of global demand for polypropylene compounds
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Trends, drivers, and restraints for the polypropylene compounds market, and market outlook
- Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the polypropylene compounds market size at various nodes
- Detailed overview and segmentation of the market, and the polypropylene compounds industry dynamics
- Size of the polypropylene compounds market in various regions with promising growth opportunities
Global Polypropylene Compounds Market
By Type
- Mineral Filled PP Compounds
- Compounded TPO
- Compounded TPV
- Glass Reinforced
- Others
By End User
- Automotive
- Electricals and Electronics
- Packaging
- Building and Construction
- Textiles
- Others
Company Profiles
- LyondellBasell Industries Holdings B.V.
- Exxon Mobil Corporation
- Sumitomo Chemical Co., Ltd
- Borealis AG
- Rialti S.p.A.
- Trinseo
- SABIC
- Total
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, India, Japan, Mexico, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United States
Frequently Asked Questions
Mineral filled PP compounds are one of the widely used types of polypropylene compounds. The mineral filled compounds deliver improvements over unfilled resins, in terms of dimensional stability, stiffness, and others. Mineral-filled polypropylene provides high mechanical stiffness, thermal stability, good low-temperature properties, and good dimensional stability over a wide temperature range. Mineral filled compounds may also be used in high volume, low-cost applications, including appliances, automotive, and packaging.
Asia Pacific region accounted for a significant share of the global polypropylene compounds market in 2020. The market is projected to witness remarkable growth in the near future due to the demand from the automotive manufacturing sector in the region. Moreover, the players operating in the Asia Pacific polypropylene compounds market focuses on expanding production capacities, and research and development of high-performance polypropylene compounds to address rapidly growing needs demand in the region.
Automotive segment accounted for the largest share of the polypropylene compounds market in 2020. Polypropylene compounds is widely used as they can easily be molded into any desired shape. It is also being used as an economical alternative to any expensive plastics of similar strength and durability, which further helps lower the cost of manufacturing.
Glass-reinforced polypropylene is copolymer polypropylene with 20% glass filled. This polypropylene compound has improved dimensional stability, rigidity, warpage resistance, and strength. It can be applied in automotive interior, center consoles, load floors, door modules, and instrument panels. They are also used in underhood automotive applications and is expected to witness considerable growth over the forecast period, owing to the demand from the automotive sector.
The major players operating in the global polypropylene compounds market are are LyondellBasell Industries Holdings B.V.; Exxon Mobil Corporation; SABIC; Sumitomo Chemical Co., Ltd.; Borealis AG; Total; Trinseo; and Rialti S.p.A among many others.
Polypropylene compounds are basically thermoplastic resins that are produced by a mixture of one or more polyolefin base along with various components such as strengtheners, fillers, impact modifiers, additives, and pigments.
Based, on type, the polypropylene compounds market is segmented into mineral filled PP compounds, compounded TPO, compounded TPV, glass reinforced, and others. Based on end-user, automotive, electrical and electronics, packaging, building and construction, textiles, and others.
Trends and growth analysis reports related to Chemicals and Materials : READ MORE..
The List of Companies - Polypropylene Compounds Market
- LyondellBasell Industries Holdings B.V.
- Exxon Mobil Corporation
- Sumitomo Chemical Co., Ltd
- Borealis AG
- Rialti S.p.A.
- Trinseo
- SABIC
- Total
Get Free Sample For