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.
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.
A few of the key market players in the 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.
Based on type, the polypropylene compounds market has been segmented into mineral filled PP compounds, compounded TPO, compounded TPV, glass reinforced, and others. On the basis of end user, the market has been segmented as automotive, electricals and electronics, packaging, building and construction, textiles, and others. The polypropylene compounds market, by geography, is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). The market in North America is further segmented into the US, Canada, and Mexico. The European market is sub segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The polypropylene compounds market in APAC is sub segmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. The market in the MEA is sub segmented into South Africa, Saudi Arabia, UAE, and the Rest of MEA. The SAM polypropylene compounds market is further segmented into Brazil, Argentina, and the Rest of SAM.
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