Polypropylene Compounds Industry Overview
The global polypropylene compounds market size was valued at USD 17.59 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.6% from 2021 to 2028. The growth of the automotive and electronics industries across emerging nations is expected to be the key growth factor for the global market over the forecast period. Moreover, rising demand from the emerging economies, especially China, due to the rapid expansion of the building & construction industry, is positively influencing the demand for polypropylene (PP) compounds. The global market is highly dependent on commodity prices with the presence of a large number of global and regional manufacturers. Major companies are making huge investments in technological innovation to improve their production capacity.
Gather more insights about the market drivers, restraints, and growth of the Global Polypropylene Compounds market
Foreign investments are decreasing in the industry since most of the companies are investing in domestic production capacities. Volatility in the raw material prices is anticipated to hinder the growth of the market over the forecast period. Propylene is the key raw material used in the manufacturing of polypropylene. These raw materials are derived from carbon compounds and petroleum.
Crude oil is one commodity, which is considered to be highly volatile in its pricing nature and this volatility can further be seen in its downstream derivatives. Moreover, the recent outbreak of Covid-19 across the globe is negatively impacting the demand for PP compounds. Stalled industrial output and restrictions on the product supply and transport due to the pandemic are affecting the overall market growth.
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Polypropylene Compounds Market Segmentation
Grand View Research has segmented the global polypropylene compounds market on the basis of product, end-use, and region:
PP Compounds Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
- Mineral Filled
- Compounded TPO
- Compounded TPV
- Glass Reinforced
- Others
PP Compounds End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
- Automotive
- Building & Construction
- Electrical & Electronics
- Textiles
- Others
PP Compounds Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global Polypropylene 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.
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