Polypropylene Compounds Market: Mineral Filled Pp Compounds Will Continue To Be The Largest Product Segment Over The Forecast Period

 Polypropylene Compounds Industry Overview

The global polypropylene compounds market size is anticipated to reach USD 35.19 billion by 2028, according to a new report by Grand View Research, Inc., growing at a CAGR of 7.6% over the forecast period. Increasing requirement for flame retardancy and improved heat resistance and serviceability of plastics in the electrical & electronics industry is the primary factor driving the growth of the global market. In addition, regulations in western markets, including the EU and the U.S., which are aimed at vehicular weight reduction are further fueling the demand for polypropylene (PP) compounds in the automotive industry.

 

The mineral-filled product segment is expected to hold a dominant market share owing to the superior properties of these products, such as higher heat distortion and rigidity. The most widely used minerals in the PP compound include talc, glass beads, mica, silica, and calcium. Low-cost production in China has led to a surge in new polymer production, which is driving the market to oversupply. Furthermore, rising population, rapid industrialization, and increase in consumer disposable income levels are some of the key socio-economic factors supporting market growth in the region.

The global market is the second-largest polymer business in the world, which contributes more than 25% of the overall polymer demand. Basic raw materials required for producing chemicals include feedstock, such as crude oil, natural gas, and other sources. Numerous companies in the industry have begun manufacturing the raw materials themselves to combat the supply-demand imbalances and meet the uncertainty of crude oil prices.


Polypropylene Compounds Market Segmentation

Grand View Research has segmented the global polypropylene compounds market on the basis of product, end-use, and region:

Based on the Product Insights, the market is segmented into Mineral Filled, Compounded TPO, Compounded TPV, Glass Reinforced, and Others.

  • The most widely used minerals in PP compounds include talc, glass beads, mica, silica, and calcium. The improved thermal stability and mechanical stiffness enable their extensive use in several applications, such as automotive and electrical & electronics.

  • Compounded TPO refers to a blend of PP, polyethylene, and EPDM rubber. TPOs are processed via injection molding and blow molding. They exhibit superior characteristics, such as high impact & chemical resistance and low density, which make them ideal for use in applications including automotive parts, which require increased toughness and durability, over conventional polymers.

 

Based on the End-use Insights, the market is segmented into Automotive, Building & Construction, Electrical & Electronics, Textiles, and Others.

  • The growing popularity of PP as an alternative for engineering plastics and metal in automotive applications is projected to boost the product demand in this segment over the forecast period. The low density of PP compounds helps in improving the fuel economy of vehicles and reduces the overall raw material costs.

  • The high flexibility of the product has led to the creation of innovative designs, which enhance passenger safety and comfort. These factors are expected to drive its demand in the automotive segment over the forecast period. Other key end-use industries of the market include building & construction, textiles, and electrical & electronics.

 

Polypropylene Compounds Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The global market is fragmented in nature with the presence of various key players. Major players, in particular, compete on the basis of production capacity expansions, product portfolio developments, and methods to implement new technologies in product manufacturing. Integration across the stages of the value chain results in continuous raw material supply as well as low manufacturing costs. R&D initiatives by a few companies to enhance their product specifications and expand the market reach are expected to further augment intensify the market competition in the years to come. Some of the prominent players in the global polypropylene (PP) compounds market include:

  • LyondellBasell Industries Holdings B.V.
  • Solvay
  • ExxonMobil Corp.
  • Trinseo
  • Sumitomo Chemical Co., Ltd.
  • Washington Penn Plastics Co., Ltd.
  • Rhetech, Inc.
  • Avient Corp.

 

Order a free sample PDF of the Polypropylene Compounds Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

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Grand View Research, Inc.

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