Global Polypropylene Compounds Market Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Polypropylene Compounds Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global polypropylene compounds market report has been segmented on the basis of product, end use, and region.
Global Polypropylene Compounds Market: Introduction
Polypropylene compounds are thermoplastic resins produced using a blend of one or more base polyolefin with various components, such as fillers and strengtheners, impact modifiers, and pigments and additives.
Global Polypropylene Compounds Market: Dynamics
Rising demand for lightweight materials with high strength in the automotive industry to decrease the weight of the automobile and improve fuel efficiency is expected to augment the growth of the target market. Growing building & construction industry in developing economies owing to rising population and changing living standards is projected to drive the growth of the potential market. Increasing demand for electrical and electronic products across the globe owing to rising spending power of individuals is estimated to support the growth of the global market.
However, fluctuating raw material prices is projected to hamper the growth of the polypropylene compounds market over the next few years.
Global Polypropylene Compounds Market: Product Analysis
Among product segments, the mineral filled polypropylene compound segment is expected to dominate the global market. Growing demand for mineral filled polypropylene compound in electrical and electronics and automotive applications is anticipated to support the growth of the segment. The mostly used minerals in polypropylene compounds are such as glass beads, talc, calcium, silica, and mica.
Global Polypropylene Compounds Market: End Use Analysis
Among end use segments, the automotive segment is anticipated to grow at a moderate growth rate in the target market in the next few years. Increasing demand for polypropylene compound in automotive production as a substitute for metal and engineering plastics is a major factor projected to drive the growth of the segment. The low-density property of polypropylene foam reduces improves the fuel efficiency of the vehicle and reduces overall raw material cost. The electrical and electronics segment is projected to grow at a moderate growth rate over the next few years.
Global Polypropylene Compounds Market: Regional Insights
Asia Pacific polypropylene compounds market is anticipated to account significant revenue share in the global market. Rising demand for polypropylene compound in the building & construction application is a major factor projected to drive the growth of the potential market in Asia Pacific. Growing demand for automobiles in the region owing to urbanization and increasing spending power of consumers is another factor estimated to support the growth of Asia Pacific polypropylene compounds market in the next 10 years.
Asia Pacific is expected to contribute a significant share in terms of revenue in the global polypropylene compounds market, followed by North America and Europe markets. The polypropylene compounds market in North America is expected to grow at a steady growth rate over the forecast period. Growing building & construction coupled with increasing demand for consumer goods in the region are other factors expected to augment revenue growth of North America polypropylene compounds market. The US polypropylene compounds market is expected to contribute a major revenue share in the region followed by Canada. Moreover, the presence of a large number of automotive manufacturers in the region is another factor projected to support revenue growth of North America polypropylene compounds market.
Global Polypropylene Compounds Market Segmentation:
Segmentation by Product:
- Mineral Filled Polypropylene
- Compounded TPO
- Compounded TPV
- Glass Reinforced
- Additive Concentrates
Segmentation by End Use:
- Building & Construction
- Electrical & Electronics
- Other (Packaging, Industrial, Consumer Goods)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Mitsui Chemicals, Inc.
- LyondellBasell Industries Holdings B.V.
- Borealis AG
- Exxon Mobil Corporation
- Washington Penn Plastic Co., Inc.
- PolyOne Corporation
- Solvay S.A.
- Sumitomo Chemical Co., Ltd.
- RheTech, Inc.
- Trinseo S.A.
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