Market Overview
The Global Polypropylene Compounds Market size is expected to be valued at
USD 24.5 Billion in 2023, and it is further anticipated to reach a market value of
USD 49.4 Billion by 2032 at a
CAGR of 8.2%.
The Global Polypropylene Compound refers to an industry that is involved in the manufacturing, utilization and distribution of polypropylene compounds. The Polypropylene Compounds formed through chain-growth polymerization using propylene as the initial monomer. Polypropylene Compounds are thermoplastic polymers produced by mixing one & more combinations of polypropylene plastic, with additives, impact enhancers, colorants & fillers. They are specially formulated to meet quality and performance standards across industries. These compounds aim to improve characteristics like strength, durability, flame resistance and more thus making them materials, for manufacturing processes. The Global Polypropylene Compounds Market is showing promising growth due to its popularity in the market due to increasing demands for high-performance & lightweight plastics for manufacturing in the packaging, construction, electronics & automobile industries.
Market Dynamic
The Global Polypropylene Component Market experiences various market dynamics driven by factors of demand, availability of raw materials & industry trends. The demand for polypropylene compounds is affected by various industries such as automotive and electronics. The demand for the polypropylene compound is closely tied to the requirements of these industries. The qualities of the polypropylene compounds that make it the prominent choice of manufacturers are its cost-efficiency, easy mouldability, sustainability, lightweight, flexibility and mechanical properties.
They are used in various automotive parts like dashboards, door trims & bumpers. The polypropylene compounds are replacing heavy metal parts like panels, spoilers & trims so that can improve fuel efficiency & reduce carbon footprint. Apart from offering many benefits to the automotive industry polypropylene compounds also offer translucency. That’s the reason behind its growing popularity in the manufacturing of pipe systems, food storage containers & laboratory. Environmental guidelines, standards, rules and regulations released by different international organizations around the globe directly influence the global polypropylene market. As this market is shaped based on the requirements of the end users it will be ever-evolving and have a high growth potential in the future.
Research Scope and Analysis
By Product
Based on the product, Global Polypropylene Compounds Market is segmented into Mineral Filled PP compounds, Compounded TPO, Compounded TPV, Glass Fiber Reinforced, Talc Filled and others. In this, the Mineral Filled PP compounds secures a significant market share of 36.3% and is expected to persist throughout the forecast period. Mineral-filled polypropylene compounds are a type of material that is produced by mixing mineral additives like mica, calcium carbonate & talc with the polypropylene compounds. These minerals improve and enhance the properties of the polypropylene compound like flame and water resistance & stiffness. This material is primarily used in the automotive industry, home appliances & electronic components.
Additionally, the Glass Fibre-Reinforced Polypropylene Compounds are another composite material in which polypropylene compounds are mixed with glass fibre and these fibres enhance the material's strength, flexibility and resistance. This material is popular for its lightweight while maintaining its strength. Like other compounds, this material is also being used in the construction material, packaging, and automotive industries.
By End-user
The Automotive segment emerges as the leader in market share in the end-user segment by holding 39.2% market share in 2023 and is anticipated to continue its leadership during the upcoming period. This growth is due to its excellent qualities such as flexibility, lightweight, moisture barrier & temperature resistance. These features are the reason the polypropylene compound is extensively used in the manufacturing process of the automotive industry. They are used in the production of interiors, exterior & under the hood applications like trims, panels and bumpers. As heavy-duty vehicle and passenger car production increases, the polypropylene market will continue to rise.
In addition, polypropylene compounds are also in trend because of their light weight so when it is used in any automotive vehicle, they tend to consume less oil which makes them fuel efficient. So, governments around the globe have issued environmental regulations to promote fuel-efficient and eco-friendly alternatives.
Moreover, the construction industry is also experiencing notable growth, as the industry recognizes the advantageous features of polypropylene compounds as they are easily moldable so they are useful in glazing, curve forming & sheeting. They also exhibit the properties of fire-resistant, water-resistant & eco-friendly qualities.
The Polypropylene Compounds Market Report is segmented on the basis of the following
By Product
- Mineral Filled PP compounds
- Compounded TPO
- Compounded TPV
- Glass Fiber Reinforced
- Talc Filled
- Others
By End-user
- Automotive
- Interior
- Exterior
- Under the Hood Components
- Building & construction
- Electronics
- Packaging
- Textile
- Others
Regional Analysis
Asia Pacific dominates the overall global market of polypropylene compounds with
a market share of about 43.6% in 2023, positioning itself as a primary spot for manufacturers within the global polypropylene compound market. The growth prospects experienced in the region within the polypropylene compound market can be said owing to the array of significant benefits it brings to enterprises. The growing demand for lightweight & cost-effective panels in the automotive industry instead of heavy metal-based panels which are costly and heavy is another reason for its growth in this region. Asia Pacific is the hub for manufacturers because of its skilled and cheap labor forces, availability of raw materials, and reduction of operating costs are prime reasons why manufacturers are investing in the Asia-Pacific Region.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The key players operating in the global polypropylene compound market are Mitsui Chemical Inc., IRPC Public Company Limited, Exxon Mobil Corporation, Avient Corporation, Japan Polypropylene Corporation, SABIC, Trinseo S.A., Sumitomo Chemical Co. Limited, Washington Penn, Borealis AG, Sumitomo Chemical Co. Limited & other key players. Polypropylene compounds are popular for their excellent combination of properties such as stiffness, high chemical resistance and cost efficiency.
Like any other prominent market, the global polypropylene compounds market also follows the organic & inorganic strategies of collaborations, mergers and acquisitions. For example, The Avient Corporation’s subsidiary Avient Protective Material which is known for providing innovative, sustainable material solutions, acquired regional companies like DSM Protective Material Business and Dyneema Brand.
Some of the prominent players in the Global Polypropylene Compounds Market are
- Mitsui Chemical Inc.
- IRPC Public Company Limited
- Exxon Mobil Corporation
- Avient Corporation
- Japan Polypropylene Corporation
- SABIC
- Trinseo S.A.
- Sumitomo Chemical Co. Limited
- Washington Penn
- Borealis AG
- Lyondell Basell Industries Holding,
- DAEHACOM Co. Ltd,
- GS Caltex
- Other key players.
COVID-19 Pandemic & Recession: Impact on the Global Polypropylene Compounds Market
The COVID-19 pandemic significantly impacted the global economy, including The Global Polypropylene Compounds Market. The Polypropylene market experienced disruptions in the supply chain because of lockdown & transport restrictions. This affected the supply of raw materials for the manufacturing of polypropylene compounds. Even after the supply constraints during lockdown the companies involved in the manufacture of polypropylene are bouncing back and gaining their lost footing.
The increased popularity of polypropylene compounds in different industries such as automobile, packaging, and electronics is expected to be the driving force behind the market. The flexible and moldable nature of the polypropylene compound is one of the reasons for its current hold over the market that even after the recession this market is still growing further.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 24.5 Bn |
| Forecast Value (2032) |
USD 49.4 Bn |
| CAGR (2023-2032) |
8.2% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Mineral Filled PP compounds,
Compounded TPO, Compounded TPV, Glass Fiber
Reinforced, Talc Filled and others), By End-user
(Automotive, Building & Construction, Electronics,
Packaging, Textile and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Mitsui Chemical Inc., IRPC Public Company Limited,
Exxon Mobil Corporation, Avient Corporation, Japan
Polypropylene Corporation, SABIC, Trinseo S.A.,
Sumitomo Chemical Co. Limited, Washington Penn,
Borealis AG, Lyondell Basell Industries Holding,
DAEHACOM Co. Ltd, GS Caltex and other key players. |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
Polypropylene Compounds are thermoplastic polymers produced by mixing one & more combinations of
polypropylene plastic, with additives, impact enhancers, colorants & fillers. Polypropylene is popular in
the market due to increasing demands for high-performance & lightweight plastics for manufacturing in
the packaging, electronics & automobile industries.
The Global Polypropylene Compounds Market size is expected to be valued at USD 24.5 Billion in 2023,
and it is further anticipated to reach a market value of USD 49.4 Billion by 2032 at a CAGR of 8.2%.
The key players in the Global Polypropylene Compounds Market are Mitsui Chemical Inc., IRPC Public
Company Limited, Exxon Mobil Corporation, Avient Corporation, Japan Polypropylene Corporation,
SABIC, Trinseo S.A., Sumitomo Chemical Co. Limited, Washington Penn, Borealis AG, LyondellBasell
Industries Holding, DAEHACOM Co. Ltd, GS Caltex and other key players.
Polypropylene Compounds can enhance properties such as stiffness, strength, flame resistance, and UV
stability additives and fillers.