Dublin, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The "Polypropylene Compounds Market Size, Share & Trends Analysis Report By Product (Mineral Filled, Compounded TPO, Compounded TPV, Glass Fiber Reinforced, Talc Filled), By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global polypropylene compounds market size is anticipated to reach USD 39.21 billion by 2030. It is projected to propel at a CAGR of 7.8% over the forecast period.
Companies Mentioned
- Mitsui Chemical, Inc.
- IRPC Public Company Limited
- Exxon Mobil Corporation
- Avient Corporation
- Japan Polypropylene Corporation
- SABIC
- Trinseo S.A.
- Sumitomo Chemical Co., Ltd.
- Washington Penn
- Borealis AG
- LyondellBasell Industries Holdings B.V.
- DAEHACOM Co., Ltd.
- GS Caltex Corporation
Increasing investment in the modernization of production assets and R&D in the automotive industry is responsible for driving the demand for propylene in the market. Until recent times, most auto components were manufactured using steel as the major material; however, steel is being increasingly replaced by plastic alternatives in a bid to reduce overall vehicle weight.
The substantial investment in research & development by various automotive manufacturers has resulted in greater weight reduction in vehicles without compromising on safety. Polypropylene compounds are an integral part of such vehicles further propelling their demand in the region.
Additionally, the use of PP compounds in electrical appliances owing to their superior insulative properties has created lucrative opportunities for the market in the U.S.
Compounded TPO refers to a blend of polypropylene, polyethylene, and EPDM rubber. TPOs are processed via injection molding and blow molding, they exhibit superior characteristics such as high resistance to impact, excellent chemical resistance, and low density.
These properties make them ideal for use in applications such as automotive parts that require increased toughness and durability over conventional polymers. Furthermore, they can be integrated with several additives resulting in properties such as flame retardants which enables their use in the electrical & electronics industry.
Recently, LyondellBasell Industries Holdings B.V. introduced Beon3D, a new product to their existing product portfolio of polypropylene compounds. This compound combines additive manufacturing with extrusion-based processes. It provides higher hydrophobicity, acoustical & optical performance, and higher heat resistance.
Polypropylene Compounds Market Report Highlights
- Polypropylene Compounds market is valued at USD 21.54 billion in 2022 and is expected to reach USD 39.21 billion in 2030 at an estimated CAGR of 7.8% from 2023 to 2030, owing to the growing demand for compounded PP across various markets
- A majority of the companies are expected to target Asia Pacific, Central & South America, and the Middle East & Africa for regional expansion owing to the high growth potential in automotive industries propelling the demand for passenger cars and two-wheelers in these regions
- Polypropylene compounds are primarily used in the flexible packaging of certain food and confectionery items, clothing, tobacco, and others. Apart from flexible packaging, it has vivid use in rigid packaging of PP bottles for mineral water and edible oils. It is also used in automotive, consumer products such as housewares, furniture, appliances, luggage, and other applications
- Plastics composed on BPA breakdown when they are washed, heated, or stressed and can contaminate food and water through leaching from the packaging lining. This has also attracted various scientific studies to be performed, while regulatory agencies such as FDA and EFSA have put a partial ban and approved content
- Polypropylene compounds are used in the electrical and electronics industry owing to their benefits such as weight reduction, thermal insulation, electrical insulation, and miniaturization. Their demand has propelled over the past years owing to the increased use of advanced features such as high-density data storage
Report Metrics:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $23.2 Billion |
| Forecasted Market Value (USD) by 2030 | $39.21 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.1.1. Global Polypropylene Market Lineage Outlook
3.1.2. Global Plastics Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Trends
3.4. Regulatory Framework
3.4.1. Standard & Compliances
3.4.2. Safety
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Market Challenge Analysis
3.5.4. Market Opportunity Analysis
3.6. Industry Analysis - Polypropylene Compounds Market
Chapter 4. Polypropylene Compounds Market: Product Estimates & Trend Analysis
4.1. Product movement analysis & market share, 2022 & 2030
4.2. Mineral filled PP compounds
4.2.1. Polypropylene Compounds market, estimate and forecasts, by Mineral filled PP compounds, 2018 - 2030 (Kilotons) (USD Million)
4.3. Compounded TPO
4.3.1. Polypropylene Compounds market, estimate and forecasts, by Compounded TPO, 2018 - 2030 (Kilotons) (USD Million)
4.4. Compounded TPV
4.4.1. Polypropylene Compounds market, estimate and forecasts, by Compounded TPV, 2018 - 2030 (Kilotons) (USD Million)
4.5. Glass fiber reinforced
4.5.1. Polypropylene Compounds market, estimate and forecasts, by Glass fiber reinforced, 2018 - 2030 (Kilotons) (USD Million)
4.6. Talc filled
4.6.1. Polypropylene Compounds market, estimate and forecasts, by Talc filled, 2018 - 2030 (Kilotons) (USD Million)
4.7. Others
4.7.1. Polypropylene Compounds market, estimate and forecasts, by Others, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. Polypropylene Compounds Market: Application Estimates & Trend Analysis
5.1. Application movement analysis & market share, 2022 & 2030
5.2. Fiber
5.2.1. Polypropylene Compounds market, estimate and forecasts, by Fiber, 2018 - 2030 (Kilotons) (USD Million)
5.3. Film & sheet
5.3.1. Polypropylene Compounds market, estimate and forecasts, by Film & sheet, 2018 - 2030 (Kilotons) (USD Million)
5.4. Raffia
5.4.1. Polypropylene Compounds market, estimate and forecasts, by Raffia, 2018 - 2030 (Kilotons) (USD Million)
5.5. Others
5.5.1. Polypropylene Compounds market, estimate and forecasts, by Others, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Polypropylene Compounds Market: End-use Estimates & Trend Analysis
6.1. End-use movement analysis & market share, 2022 & 2030
6.2. Automotive
6.2.1. Polypropylene Compounds market, estimate and forecasts, by Automotive, 2018 - 2030 (Kilotons) (USD Million)
6.3. Building & construction
6.3.1. Polypropylene Compounds market, estimate and forecasts, by Building & construction, 2018 - 2030 (Kilotons) (USD Million)
6.4. Electrical & electronics
6.4.1. Polypropylene Compounds market, estimate and forecasts, by Electrical & electronics, 2018 - 2030 (Kilotons) (USD Million)
6.5. Textile
6.5.1. Polypropylene Compounds market, estimate and forecasts, by Textile, 2018 - 2030 (Kilotons) (USD Million)
6.6. Others
6.6.1. Polypropylene Compounds market, estimate and forecasts, by Others, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7. Polypropylene Compounds Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
8.1. Key global players and recent developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
8.3. Vendor Landscape
8.3.1. List of key Distributors and Channel Partners
8.3.2. Key Potential Customers
8.4. Public Companies
8.4.1. Competitive Dashboard Analysis
8.5. Private Companies
8.5.1. List of Key Emerging Companies/End-use Disruptors/Innovators
Chapter 9. Company Profiles
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