Polypropylene Compounds Market Analysis, Size, and Share by 2028

[Research Report] 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 basically produced through chain-growth polymerization derived from the monomer propylene. Polypropylene compounds are basically thermoplastic resins that are produced by a mixture of one or more polyolefins base along with various components such as strengtheners, fillers, impact modifiers, additives, and pigment. These compounds offer many features and are used in a variety of applications.

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.

Polypropylene Compounds Market: Strategic Insights

Impact of COVID-19 Pandemic on Polypropylene Compounds Market

The COVID-19 pandemic has adversely affected the plastics industry, along with the related markets.The implementation of measures to combat the spread of SARS-CoV-2 has impacted the growth of several industrial sectors. Industries such as automotive and electronics have been impacted by the sudden disruptions in operational efficiencies and value chains due to the lockdown of national and international boundaries. However, economies are striving to revive their operations. The food packaging industry is generating significant demand for polypropylene compounds owing to the consumers’ inclination towards ordering food online. Moreover, the previously postponed construction projects are ready to resume, which would further provide an opportunities for the growth of the polypropylene compounds market players. The companies operating in the market are bouncing back due to the resolution of supply constraints. The elevating demand for polypropylene compounds in industries such as packaging, automotive, building and construction, electrical and electronics, is expected to drive the polypropylene compounds market growth in the coming years. 

Market Insights

Increasing Demand from Building and Construction, Textile, Electrical and Electronics, and Automotive Industries Fuels Polypropylene Compounds Market Growth

The polypropylene compounds market is mainly driven by the increasing demand for these products from the building and construction, textiles, electrical and electronics, and automobile industries, among others. In the automotive industry, polypropylene is popularly being used as an alternative to engineering plastics and metals. High strength, rigidity, and purity make these compounds an ideal option in the manufacturing of piping systems. Applications of polypropylene in the building and construction industry include siding, air and moisture barrier membranes, carpet textiles, building insulation wrap films and sheets, industrial adhesives and tapes, and plastic parts.

Material Insights

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.

End User Insights

Based on end user, the global polypropylene compounds market is divided into automotive, electricals and electronics, packaging, building and construction, textiles, and others. The automotive segment held the largest share of the polypropylene compounds market in 2020. Being a thermoplastic polymer, polypropylene compounds can easily be formed into nearly any shape. Furthermore, they are being used as an economic alternative to any expensive plastics of similar strength and durability, which further helps lower the cost of manufacturing.

A few of the key market players in the global polypropylene compounds market include LyondellBasell Industries Holdings B.V.; Exxon Mobil Corporation; Sumitomo Chemical Co., Ltd; Borealis AG; Rialti S.p.A.; Trinseo; and Total. The market players are highly focused on developing innovative and high-quality products.

Polypropylene Compounds Market Regional Insights

The regional trends and factors influencing the Polypropylene Compounds Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Polypropylene Compounds Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Polypropylene Compounds Market Report Scope

Polypropylene Compounds Market Players Density: Understanding Its Impact on Business Dynamics

The Polypropylene Compounds Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Report Spotlights

• Progressive trends in the polypropylene compounds industry to help companies develop effective long-term strategies
• Business growth strategies adopted by the polypropylene compounds market players in developed and developing markets
• Quantitative analysis of the market from 2019 to 2028
• Estimation of global demand for polypropylene compounds
• Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Trends, drivers, and restraints for the polypropylene compounds market, and market outlook
• Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The size of the polypropylene compounds market size at various nodes
• Detailed overview and segmentation of the market, and the polypropylene compounds industry dynamics
• Size of the polypropylene compounds market in various regions with promising growth opportunities

Global Polypropylene Compounds Market

By Type

• Mineral Filled PP Compounds
• Compounded TPO
• Compounded TPV
• Glass Reinforced
• Others

By End User

• Automotive
• Electricals and Electronics
• Packaging
• Building and Construction
• Textiles
• Others

Company Profiles

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