Polypropylene Compound Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market is segmented by Product Type (Mineral Filled, Compounded TPO, Compounded TPV, Glass Reinforced, and Others), End-user Industry (Automotive, Construction, Electrical and Electronics, Textile, and Others) and Geography (Asia-Pacific, North America, Europe, South America and Middle East and Africa)

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Polypropylene Compound Market Size

Polypropylene Compound Market Overview
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 7.2 %

Major Players

Polypropylene Compound Market Key Player

*Disclaimer: Major Players sorted in no particular order
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Polypropylene Compound Market Analysis

The market for polypropylene compounds is expected to grow at a CAGR of more than 7.2% globally during the forecast period. Polypropylene compounds are thermoplastic resins that are formed by combining one or more base polyolefins with various materials, such as impact modifiers, fillers, and reinforcements, pigments, and additives. The growing demand from consumer electronics products has been driving the market growth.

  • However, the fluctuation in raw material and the outbreak of coronavirus across the globe are likely to hinder the growth of the studied market.
  • The research and development of eco-friendly polypropylene compounds are likely to provide opportunities for the polypropylene compound market over the next five years.
  • Automotive Industry is the most dominating end-user segment for the market studied.
  • Asia Pacific region dominated across the world with increasing consumption from countries like China and India.

Polypropylene Compound Industry Segmentation

The polypropylene compound market report include:

Product Type
Mineral Filled
Compounded TPO
Compounded TPV
Glass Reinforced
Others
End-user Industry
Automotive
Construction
Electrical and Electronics
Textile
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Polypropylene Compound Market Trends

This section covers the major market trends shaping the Polypropylene Compound Market according to our research experts:

Automotive Industry to Dominate the Market

  • The automotive industry stands to be the dominating segment owing to continuously increasing demand for polypropylene resin as a replacement for metal and electronics plastics in automotive manufacturing.
  • Rising demand for lightweight products with high strength in the automotive industry is projected to accelerate target market growth to decrease the weight of the vehicle and boost fuel efficiency.
  • The low density of PP compounds increases the automotive fuel economy and reduces the overall cost of raw materials. High polypropylene versatility has led to creative designs being developed which enhances passenger safety and comfort. It is these aspects that drive demand for PP compounds.
  • The automotive industry has been experiencing a decline in production in countries such as the United States, China, and Germany since 2018, as a result of which consumption of polypropylene compound is expected to decline. However, the automotive industry is expected to witness a recovery in production from 2021.
  • All the aforementioned factors are expected to drive the polypropylene compound market during the forecast period.
Polypropylene Compound Market Share

Asia-Pacific Region to Dominate the Market

  • Due to robust demand from the automotive industry and consumer electronics, particularly in emerging countries such as India and China, the Asia Pacific market is expected to be the largest and fastest-growing market over the forecast period.
  • The flexible packaging industry in the Asia-Pacific is rising at a faster pace due to its advantages, such as simple handling, portable packaging, and lightweight.
  • Easy availability of raw material, well-developed infrastructural facilities, and skilled & cheap labor force have attracted major international automotive manufacturers to invest in the Asia-Pacific region. Hence, all these factors are expected to drive the market for polypropylene compounds in the Asia-Pacific region.
  • The region's electronics market is also rising at a steady pace. Additionally, with companies actively investing in the electronics industry in the region, the demand is likely to continue to expand, thus growing polypropylene use in the Asia-Pacific region.
  • Market demand for electric cars and policies under Clean Energy Ministerial (CEM), such as the initiative on electric vehicles and increasing enthusiasm for electric vehicles, are expected to push polypropylene compound consumption in near future.
  • Hence, all such market trends are expected to drive the demand for polypropylene compound market in the region during the forecast period.
Polypropylene Compound Market Size

Polypropylene Compound Industry Overview

The global polypropylene compound market is fragmented in nature owing to the presence of numerous players in the market with no significant market share. Some of the major companies are LyondellBasell Industries Holdings B.V., Repsol, SABIC, Sumitomo Chemical Co., Ltd., and Exxon Mobil Corporation amongst others.

Polypropylene Compound Market Leaders

  1. LyondellBasell Industries Holdings B.V.

  2. Repsol

  3. SABIC

  4. Sumitomo Chemical Co., Ltd.

  5. Exxon Mobil Corporation

*Disclaimer: Major Players sorted in no particular order

LyondellBasell Industries Holdings B.V., Repsol, SABIC, Sumitomo Chemical Co., Ltd., Exxon Mobil Corporation

Polypropylene Compound Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from Consumer Electronics Product

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Fluctuation in Raw Material Cost

      2. 4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Mineral Filled

      2. 5.1.2 Compounded TPO

      3. 5.1.3 Compounded TPV

      4. 5.1.4 Glass Reinforced

      5. 5.1.5 Others

    2. 5.2 End-user Industry

      1. 5.2.1 Automotive

      2. 5.2.2 Construction

      3. 5.2.3 Electrical and Electronics

      4. 5.2.4 Textile

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Borealis AG

      2. 6.4.2 Domo Chemicals

      3. 6.4.3 Exxon Mobil Corporation

      4. 6.4.4 INEOS

      5. 6.4.5 JJ Plastalloy

      6. 6.4.6 LG Chem.

      7. 6.4.7 LyondellBasell Industries Holdings B.V.

      8. 6.4.8 Mitsubishi Chemical Corporation.

      9. 6.4.9 MITSUI CHEMICALS AMERICA, INC.

      10. 6.4.10 PolyPacific

      11. 6.4.11 Repsol

      12. 6.4.12 RTP Company

      13. 6.4.13 SABIC

      14. 6.4.14 Sumitomo Chemical Co., Ltd.

      15. 6.4.15 The Plastics Group of America

      16. 6.4.16 Total

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Research and Development of Eco-friendly Polypropylene Compounds

    2. 7.2 Other Opportunities

**Subject to Availability
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Polypropylene Compound Market Research FAQs

The Polypropylene Compound Market is studied from 2018 - 2028.

The Polypropylene Compound Market is growing at a CAGR of >7.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

LyondellBasell Industries Holdings B.V., Repsol, SABIC, Sumitomo Chemical Co., Ltd., Exxon Mobil Corporation are the major companies operating in Polypropylene Compound Market.

Polypropylene Compound Industry Report

Statistics for the 2023 Polypropylene Compound market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Polypropylene Compound analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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