Polypropylene Compounds Market: Global Industry Analysis and Forecast (2022-2029)

Polypropylene Compounds Market size was valued at US$ 18.93 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 7.6% from 2022 to 2029, reaching nearly US$ 34.01 Bn.
Polypropylene Compounds Market Overview:
Polypropylene Compounds Market is expected to reach US$ 34.01 Bn. by 2029. Polypropylene (PP) is a thermoplastic made from the propene (or propylene) monomer that is strong, stiff, and crystalline. It has the chemical formula (C3H6) and is a linear hydrocarbon resin. It is the cheapest polymer among all commodity plastics, has a low density, and is resistant to stress cracking, and so on. This report focuses on the different segments of the Polypropylene Compounds market (Product, End-use, and Region). The major industry players and regions are thoroughly examined in this report (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It's a thorough examination of today's quick advancements in a variety of industries. Facts and numbers, visualisations, and presentations are used to show the primary data analysis during the historical era from 2017 to 2020. The market drivers, restraints, opportunities, and challenges for Polypropylene Compounds are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the Polypropylene Compounds market.To know about the Research Methodology :- Request Free Sample Report
Polypropylene Compounds Market Dynamics:
During the forecast period, the rise of the automotive and electronics sectors in emerging countries is expected to be a key growth factor for the global market. Furthermore, increased demand from emerging nations, particularly China, is favorably influencing demand for polypropylene (PP) compounds, owing to the rapid growth of the building and construction industry. With a huge number of global and regional producers, the global market is heavily reliant on commodity prices. To increase their manufacturing capacity, major corporations are investing heavily in technological innovation.

As most companies are investing in domestic production capabilities, foreign investments are diminishing in the industry. The Polypropylene Compounds market growth is expected to be hampered by raw material price volatility during the forecast period. The primary raw material utilised in the production of polypropylene is propylene. Carbon compounds and petroleum are used to make these basic ingredients.

Crude oil is one commodity whose price behaviour is believed to be particularly volatile, and this volatility is reflected in its downstream derivatives. Furthermore, the recent global outbreak of COVID-19 is having a severe impact on the market for PP compounds. The overall market growth is expected to be hampered by stalled industrial output and constraints on product supply and transportation owing to the COVID-19 pandemic.

Due to their high cost-performance, outstanding moldability, and environmental compatibility, PP compounds are expected to be continue to play a key role in resin materials for automotive applications. Due to advancements in the base PP as well as sophisticated compound and moulding technologies, the application areas of PP compounds have increased to the current time. These technological advancements have been backed up by different ideas and principles discovered through structural analysis techniques.
Polypropylene Compounds Market Segment Analysis:
The Polypropylene Compounds Market is segmented by Product, and End-use.

Based on the Product, the market is segmented into Mineral Filled, Compounded TPO, Compounded TPV, Glass Reinforced, and Others. Mineral Filled PP Compounds segment is expected to hold the largest market share of xx% by 2029. Minerals are added to polypropylene compounds to increase heat distortion and stiffness. Talc, glass beads, mica, silica, and calcium are the most commonly employed minerals in PP composites. Because of their superior thermal stability and mechanical stiffness, they can be used in a variety of applications, including automotive and electrical and electronics.

Compounded TPO segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. TPO that has been compounded is a mixture of PP, polyethylene, and EPDM rubber. Injection moulding and blow moulding are used to make TPOs. They have improved properties over conventional polymers, such as strong impact and chemical resistance and low density, making them excellent for applications such as automobile parts that require increased toughness and longevity.

Glass Reinforced PP Compounds segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. Glass fibre reinforced modified PP came down like a "saviour," eliminating a slew of issues that the original technique couldn't handle. PP has a tensile strength of 65MPa to 90MPa, a flexural strength of 70MPa to 120MPa, and a flexural modulus of 3000MPa to 4500MPa due to the glass fibre reinforcement. This mechanical strength is comparable to ABS and reinforced ABS products, with the added benefit of being more heat resistant. Glass fibre reinforced PP granules have a thermal resistance temperature of 135°C to 145°C.

The shrinkage of glass fibre reinforced PP has decreased dramatically, and the stiffness has improved significantly. The impact resistance of glass fibre reinforced PP plastic is improved since it does not stress crack. Glass fibre reinforced PP's heat resistance temperature has risen.

Based on the End-use, the market is segmented into Automotive, Building & Construction, Electrical & Electronics, Textiles, and Others. Automotive end-use segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. During the forecast period, the growing popularity of PP as an alternative to engineering plastics and metal in automotive applications is expected to enhance product demand in this segment. The low density of PP compounds improves vehicle fuel economy while also lowering overall raw material prices.

Furthermore, the product's considerable adaptability has led to the development of novel designs that improve passenger safety and comfort. During the forecast period, these factors are expected to boost its demand in the automotive segment. Building & construction, textiles, and electrical & electronics are some of the market's other main end-use industries.
Polypropylene Compounds Market Regional Insights:
Asia-Pacific region is expected to dominate the Polypropylene Compounds Market during the forecast period 2022-2029. Asia-Pacific region is expected to hold the largest market share of xx% by 2029. The Asia-Pacific region's market growth is expected to be driven by rising demand for PP compounds from the automotive and electrical & electronics industries, particularly in emerging countries such as India, China, and Japan.

North America region is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. New capacity investment in North America and China is being sparked by unconventional low-cost feedstocks, which is expected to have a huge impact on global commerce and regional competition. The growth in shale gas extracted from feedstock has boosted North American industries' cost competitiveness to new heights.

 

The objective of the report is to present a comprehensive analysis of the Global Polypropylene Compounds Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Polypropylene Compounds Market dynamic and structure by analyzing the market segments and projecting the Global Polypropylene Compounds Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Polypropylene Compounds Market make the report investor’s guide.
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Global Polypropylene Compounds Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 18.93 Bn.


Forecast Period 2022 to 2029 CAGR:
7.6%
Market Size in 2029:
US $ 34.01 Bn.


 Segments Covered:
by Product
• Mineral Filled
• Compounded TPO
• Compounded TPV
• Glass Reinforced
• Others


by End-use
• Automotive
• Building & Construction
• Electrical & Electronics
• Textiles
• Others



Polypropylene Compounds Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Polypropylene Compounds Market Key Players are:
• LyondellBasell Industries Holdings B.V.
• Solvay
• ExxonMobil Corp.
• Trinseo
• Sumitomo Chemical Co., Ltd.
• Washington Penn Plastics Co., Ltd.
• Rhetech, Inc.
• A. Schulman
• Avient Corp
• Repsol
• SABIC
• PolyOne
• Specialty Chemicals and Polymers
• Peeco Polytech Private Limited
• Plastochem India

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Polypropylene Compounds Market?
Ans. Asia Pacific region is expected to hold the highest share in the Polypropylene Compounds Market.

2] Who are the top key players in the Polypropylene Compounds Market?
Ans. LyondellBasell Industries Holdings B.V., Solvay, ExxonMobil Corp., Trinseo, Sumitomo Chemical Co., Ltd., and Washington Penn Plastics Co., Ltd. are the top key players in the Polypropylene Compounds Market.

3] Which segment is expected to hold the largest market share in the Polypropylene Compounds Market by 2029?
Ans. Mineral Filled PP Compounds segment is expected to hold the largest market share in the Polypropylene Compounds Market by 2029.

4] What is the market size of the Polypropylene Compounds Market by 2029?
Ans. The market size of the Polypropylene Compounds Market is expected to reach US $34.01 Bn. by 2029.

5] What was the market size of the Polypropylene Compounds Market in 2021?
Ans. The market size of the Polypropylene Compounds Market was worth US $18.93 Bn. in 2021.