Global Polypropylene Compounds Market Report 2021-2028 - Development of Eco-Friendly Polypropylene Compounds Gaining Traction - ResearchAndMarkets.com

The "Polypropylene Compounds Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.

The polypropylene compounds market is projected to reach US$ 25,864.00 million by 2028 from US$ 17,977.40 million in 2021; it is expected to grow at a CAGR of 5.3% from 2021 to 2028.

Polypropylene, a thermoplastic polymer, is used in a variety of applications. It is produced through chain-growth polymerization of propylene monomers. Polypropylene compounds are thermoplastic resins manufactured through the mixture of one or more polyolefins base, and they are added with various components such as strengtheners, fillers, impact modifiers, additives, and pigments for various applications.

Based on type, the polypropylene compounds market is segmented into mineral filled PP compounds, compounded TPO, compounded TPV, glass reinforced, and others. The mineral filled PP compounds segment held the largest share of the market in 2020. Calcium carbonate, talc, and mica, among others, added in mineral-filled PP compounds deliver a low-cost filler option in case of price sensitivity.

The mineral filled compounds exhibit improved dimensional stability, stiffness, etc., compared unfilled resins. Mineral-filled polypropylene provides high mechanical stiffness, thermal stability, good low-temperature properties, and good dimensional stability over a wide temperature range.

The global polypropylene compounds market is segmented into five main regions - North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Asia Pacific held the largest revenue share of the polypropylene compounds market.

The Asia Pacific region provides significant growth opportunities for the polypropylene compounds market. China is a major contributor to the market in this region. There is increasing use of polypropylene compounds in the automotive sector. Moreover, the packaging industry in Asia Pacific is growing rapidly; it has become an important part of the manufacturing industry in the region.

The growth of the Asia Pacific polypropylene compounds market is primarily attributed to the expansion of the construction, automotive, electrical, and electronics industries in countries such as China, India, and South Korea.

Additionally, the players operating in the polypropylene compounds market in the region continue to expand their production capacities and develop of high-performance polypropylene compounds to be able to cater the market in a better way.

Key Market Dynamics

Market Drivers

• Increasing Demand from Industries such as Building and Construction, Textiles, Electrical and Electronics, and Automobile
• Wide Use of Mineral-Filled Polypropylene Compounds
• Market Restraints

Volatility in Raw Material Prices and Negative Effect of COVID-19 Pandemic

Market Opportunities

• Growing Scope of Applications in Packaging Industry

Future Trends

• Development of Eco-Friendly Polypropylene Compounds

Companies Mentioned

• LyondellBasell Industries Holdings B.V.
• Exxon Mobil Corporation
• Sumitomo Chemical Co., Ltd
• Borealis AG
• Rialti S.p.A.
• Trinseo
• SABIC
• Total

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220117005310/en/