The increasing demand for polypropylene compounds in various end-use industries is a key driver for the market's growth. Polypropylene compounds are highly versatile materials that offer a combination of desirable properties, including high strength, low weight, chemical resistance, and cost-effectiveness. These properties make them suitable for a wide range of applications across different sectors, driving their adoption in industries such as automotive, packaging, construction, and electronics.
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The electronics industry relies on polypropylene compounds for various applications, including casings, connectors, and insulating materials. Their electrical insulation properties and ability to withstand high temperatures make them essential in the manufacturing of electronic devices and appliances. The growing demand from end-use industries is expected to boost the market in the forecast period.
Data Bridge Market Research analyzes that the Global Polypropylene Compounds Market is expected to grow with a CAGR of 4.6% from 2023 to 2030 and is expected to reach USD 32,852,644.35 thousand by 2030.
Key Findings of the Study
Advancements in material technology are expected to drive the market growth
Technological advancements in material formulation and processing techniques have been instrumental in the development of high-performance polypropylene compounds. These innovations have allowed manufacturers to tailor the properties of polypropylene compounds to meet specific industry needs and requirements. Research and development efforts in the field of polypropylene compounds have resulted in the creation of new and improved formulations. These advanced compounds cater to niche markets and high-value applications, expanding the market's potential and attracting new customers.
Moreover, advancements in processing techniques have enabled manufacturers to produce polypropylene compounds with better consistency and quality. Improved processing methods lead to more efficient production processes, reducing costs and enhancing product performance. The advancement in technology is expected to drive market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Product (Mineral Filled Polypropylene, Compound TPOs/TPVs, Additive Concentrates, Glass Reinforced, and Others), Polymer Type (Homopolymers and Copolymers), Application (Fiber, Film & Sheet, Raffia, and Others), End Use (Automotive, Packaging, Building and Construction, Electrical and Electronics, Consumer Goods, Medical, Textile, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Russia, Turkey, Belgium, Netherlands, Sweden, Denmark, Norway, Finland, Rest of Europe, China, India, Japan, South Korea, Australia, New Zealand, Malaysia, Singapore, Thailand, Taiwan, Indonesia, Philippines, Hong Kong, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, United Arab Emirate, Saudi Arabia, Kuwait, Egypt, Israel, Oman Qatar, Bahrain Rest of Middle East and Africa
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Market Players Covered
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Mitsui Chemicals, Inc. (Japan), Exxon Mobil Corporation (U.S.), SABIC (Saudi Arabia), Borealis AG (Austria), Braskem (Brazil), China Petrochemical Corporation (SINOPEC) (China), Celanese Corporation (U.S.), BASF SE (Germany), Formosa Plastics Group (Taiwan), LyondellBasell Industries Holdings B.V. (Netherlands), Avient Corporation (U.S.), Reliance Industries Limited (India), Sasol (South Africa), SCG Chemicals Public Company Limited (Thailand), Trinseo (U.S.), TotalEnergies (France), GS GLOBAL CORP (South Korea), LG Chem (South Korea), Repsol (Spain), and INEOS (U.K.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, material handling and storage, transport and precautions and hazard identification.
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Segment Analysis
The global polypropylene compounds market is segmented into four notable segments based on product, polymer type, application, and end use.
- Based on product, the market is segmented into polypropylene, compound TPOs/TPVs, additive concentrates, glass reinforced, and others. In 2023, the mineral filled polypropylene segment is expected to dominate the market with a 44.12% market share due to its high mechanical stiffness, thermal stability, low-temperature properties, and good dimensional stability over a wide temperature range.
- Based on polymer type, the market is segmented into homopolymers and copolymers. In 2023, the homopolymers segment is expected to dominate the market with a 74.23% market share due to its high strength-to-weight ratio, excellent chemical resistance, high performance in thermoforming and corrosive environments, no moisture absorption, resist most acids, alkalis, degreasing agents, and organic solvents, good weldability, lightweight, and non-toxic and non-staining
- Based on application, the market is segmented into fiber, film & sheet, raffia, and others.
In 2023, the fiber segment is anticipated to dominate the global polypropylene compounds market
In 2023, the fiber segment is expected to dominate the market with a 42.49% as it reduces the formation of retraction and contraction cracks.
- Based on end-use, the market is segmented into automotive, packaging, building and construction, electrical and electronics, consumer goods, medical, textile, and others.
In 2023, the automotive segment is anticipated to dominate the global polypropylene compounds market
In 2023, the automotive segment is expected to dominate the market with a 29.28% market share, due to its low cost and out- standing mechanical properties and moldability, it accounts for more than half of all the plastic materials used in automobiles.
Major Players
Data Bridge Market Research recognizes the following companies as the major players in the global polypropylene compounds market that includes Mitsui Chemicals, Inc. (Japan), Exxon Mobil Corporation (U.S.), SABIC (Saudi Arabia), Borealis AG (Austria), Braskem (Brazil), China Petrochemical Corporation (SINOPEC) (China), Celanese Corporation (U.S.), BASF SE (Germany), Formosa Plastics Group (Taiwan), LyondellBasell Industries Holdings B.V. (Netherlands), Avient Corporation (U.S.), Reliance Industries Limited (India), Sasol (South Africa), SCG Chemicals Public Company Limited (Thailand), Trinseo (U.S.), TotalEnergies (France), GS GLOBAL CORP (South Korea), LG Chem (South Korea), Repsol (Spain), and INEOS (U.K.).
Market Developments
- In June 2023, Borealis agreed to acquire Rialti, one of Europe's top manufacturers of mechanically recovered polypropylene (PP) compounds for injection molding and extrusion. The project will expand Borealis' circular range by adding 50,000 tons of recycled compounding capacity and satisfying rising customer demand for environmentally friendly solutions.
- In May 2023, LyondellBasell announced that Alujain National Industrial Company (Alujain) has chosen LyondellBasell polypropylene process technology for a new Spherizone process technology line. National Petrochemical Industrial Co. (NatPet), which operates a Spheripol process technology line, is owned by Alujain..
- In November 2022, TotalEnergies announced the development of a new high-performance recycled polypropylene manufacturing line for cars in its polymer factory in Carling, France. The flexible line, which is slated to be operational in 2024, will create 15,000 tons per year of polypropylene compounds using up to 100 percent recycled plastic components
- In August 2022, SABIC launched two novel short-glass fiber-reinforced polypropylene (PP) compounds, SABIC PP compound G3430X and SABIC PP compound G3440X, that offer better performance and processing for demanding automotive under-hood, exterior, and interior applications. These grades provide clients with new ways to improve the performance of vehicle structural components including brackets, seat structures, and center consoles.
- In October 2022, With the introduction of the first BorPure grades for flexible and thermoformed food packaging based on Borstar Nextension Technology, a new age of polypropylene film grades has begun. Borstar Nextension Technology nonwoven grade provides exceptional spinning performance and tensile strength. Borealis is delivering an increasing number of solutions to its partners and customers that provide superior performance while also improving circularity and material efficiency.
Regional Analysis
Geographically, the regions covered in the global polypropylene compounds market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Russia, Turkey, Belgium, Netherlands, Sweden, Denmark, Norway, Finland, Rest of Europe, China, India, Japan, South Korea, Australia, New Zealand, Malaysia, Singapore, Thailand, Taiwan, Indonesia, Philippines, Hong Kong, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, United Arab Emirate, Saudi Arabia, Kuwait, Egypt, Israel, Oman Qatar, Bahrain Rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the global polypropylene compounds market during the forecast period 2023-2030
Asia-Pacific is expected to dominate the global polypropylene compounds market due to economic growth, industrial development, infrastructure projects, packaging industry, and automotive sector growth in the region.
Middle East and Africa is estimated to be the fastest-growing region in the global polypropylene compounds market for the forecast period 2023-2030
Middle East and Africa is expected to grow during the forecast period due to the rising infrastructure development, industrial growth, packaging demand, and automotive sector expansion in the region.
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