Polypropylene Compounds Market

Introduction of the Polypropylene Compounds Market Report

Polypropylene compounds refer to the thermoplastic resins produced using a mixture of base polyolefins with various components including impact modifiers, fillers and reinforcements, pigments and additives. These Polypropylene (PP) compounds provide a broad variety of application for automotive, electrical appliances, medical devices, construction and furniture components.

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Market Dynamic

Key Drivers and Emerging Trends

Growing number of industries globally, rise in the electronics and healthcare industries, and the rapid expansion of the building & construction industry in emerging economies including China and India are some of the major factors expected to drive the demand for polypropylene compounds during the forecast period. Additionally, increasing development of electric cars coupled with the key application of plastics for the reduction of vehicle weight along with increased protection is further promoting the growth of the polypropylene compounds market share. Moreover, according to the International Energy Agency (IEA), in 2019, electric cars registered 2.1 million sales globally with 40% year-on-year increase and accounted for 2.6% of the global car sales. This is projected to stimulate the demand for polypropylene compounds in the automotive industry in the coming years.

Furthermore, increasing use of polypropylene (PP) in a variety of applications that includes flexible and rigid packaging including shrink-film overwrap, disposable diaper tabs and closures, crates, bottles, and pots owing to its high strength, good finish, and low weight is expected to provide growth opportunities to the market over the forecast period.

Restraint in the Polypropylene Compounds Market

However, the volatility in the prices of raw material that includes propylene is projected to hinder the growth of the market over the forecast period. In addition, the recent outbreak of Covid-19 across the world is further expected to impact the demand for PP compounds owing to the disruption in manufacturing of vehicles, electronics, and consumer goods.

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Product – Segment Analysis

Based on the product, glass reinforced is expected to grow at a high CAGR over the forecast period owing to their benefits of improving the material characteristics including, rigidity, bending strength, tensile strength, flexural modulus and service temperature of polypropylene compounds. Additionally, rising use of glass reinforced polypropylene compounds in interiors and exteriors in the automotive industry, in the construction industry, and in the household appliances is further accelerating the market growth.

End-Use Industry – Segment Analysis

Based on the end-use industry, automotive is expected to hold a high market share primarily due to the use of polypropylene compounds in a range of automotive parts that include battery cases and trays, bumpers, fender liners, interior trim, instrumental panels and door trims. Moreover polypropylene compounds offer mechanical properties including low coefficient of linear thermal expansion and specific gravity, high chemical resistance, and impact balance, which is expected to increase the demand of PP compounds in the automotive industry.

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Regional – Segment Analysis:

Asia-Pacific is expected to grow notably over the forecast period primarily due to the growing demand for PP compounds from the automotive and electrical & electronics industries, especially in countries, including  India, China, South Korea, Indonesia, and Japan. In addition, according to the IBEF, the electronics market in India is one of the largest growing electronics market in the world and is expected to increase with a CAGR of 24.4 per cent by 2020. According to the International Energy Agency (IEA), China accounted for 47% of the global electric car sales in 2019. These factors are expected to drive the market growth in the Asia-Pacific.

Top Market Players

Several leading Polypropylene Compounds companies operating in the market, include, LyondellBasell Industries Holdings B.V., Solvay SA, ExxonMobil Corporation, Trinseo S.A., Sumitomo Chemical Co., Ltd., Washington Penn, Hexpol AB, Avient Corporation, Advanced Composites, Inc., and SCG Chemicals Co., Ltd. among others. 

Key Developments: 

• • In 2019, Sumitomo Chemical Co., Ltd. acquired Emas Plastik A.S. and its affiliated companies, one of the major plastic compounder group in Turkey through Sumika Polymer Compounds Europe Ltd., a subsidiary of Sumitomo Chemical, for or developing the global business of polypropylene.

Segments covered in the Report:

The global Polypropylene Compounds market has been segmented on the basis of product, end-use industry, and key regions. Based on product, the market is segmented into mineral filled PP compounds, compounded TPO, compounded TPV, glass reinforced, and others. Based on the end-use industry, the market is segmented into automotive, electrical & electronics, textiles, healthcare, packaging, consumer goods, and others. 

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Key questions answered in this research report:

• • At what pace is global Polypropylene Compounds Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Polypropylene Compounds Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Polypropylene Compounds Market?
  • Which product generated maximum revenues in 2020 and identify the most promising material during the forecast period?
  • What are the various end-use industries of global Polypropylene Compounds Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product, By End-use Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	LyondellBasell Industries Holdings B.V., Solvay SA, ExxonMobil Corporation, Trinseo S.A., Sumitomo Chemical Co., Ltd., Washington Penn, Hexpol AB, Avient Corporation, Advanced Composites, Inc., and SCG Chemicals Co., Ltd. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Polypropylene Compounds Market by Product

• • Mineral Filled PP Compounds
  • Compounded TPO
  • Compounded TPV
  • Glass Reinforced
  • Others

Global Polypropylene Compounds Market by End-Use Industry

• • Automotive
  • Electrical & Electronics
  • Textiles
  • Healthcare
  • Packaging
  • Consumer Goods
  • Others

Global Polypropylene Compounds Market by Region

• • North America Polypropylene Compounds Market (Option 1: As a part of the free 25% customization)
    • North America Polypropylene Compounds Market by Product
    • North America Polypropylene Compounds Market by End-Use Industry
    • US Polypropylene Compounds Market All-Up
    • Canada Polypropylene Compounds Market All-Up
  • Europe Polypropylene Compounds Market (Option 2: As a part of the free 25% customization)
    • Europe Polypropylene Compounds Market by Product
    • Europe Polypropylene Compounds Market by End-Use Industry
    • UK Polypropylene Compounds Market All-Up
    • Germany Polypropylene Compounds Market All-Up
    • France Polypropylene Compounds Market All-Up
    • Spain Polypropylene Compounds Market All-Up
    • Rest of Europe Polypropylene Compounds Market All-Up
  • Asia-Pacific Polypropylene Compounds Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Polypropylene Compounds Market by Product
    • Asia-Pacific Polypropylene Compounds Market by End-Use Industry
    • China Polypropylene Compounds Market All-Up
    • India Polypropylene Compounds Market All-Up
    • Japan Polypropylene Compounds Market All-Up
    • Rest of APAC Polypropylene Compounds Market All-Up
  • RoW Polypropylene Compounds Market (Option 4: As a part of the free 25% customization)
    • RoW Polypropylene Compounds Market by Product
    • RoW Polypropylene Compounds Market by End-Use Industry
    • Brazil Polypropylene Compounds Market All-Up
    • South Africa Polypropylene Compounds Market All-Up
    • Saudi Arabia Polypropylene Compounds Market All-Up
    • UAE Polypropylene Compounds Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Polypropylene Compounds Market All-Up

Major Players Operating in the Polypropylene Compounds Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • LyondellBasell Industries Holdings B.V.
  • Solvay SA
  • ExxonMobil Corporation
  • Trinseo S.A.
  • Sumitomo Chemical Co., Ltd.
  • Washington Penn
  • Hexpol AB
  • Avient Corporation
  • Advanced Composites, Inc.
  • SCG Chemicals Co., Ltd.