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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Polypropylene Compounds Market: By Product Type, By End User Type, and Geography
Polypropylene Compounds Market: By Product Type, By End User Type, and Geography
Polypropylene Compounds Market size was valued at US$ 17.58 billion in 2022 and is poised to grow at a CAGR of 7.7% from 2023 to 2029. worldwide polypropylene compound market is predicted to grow at a rapid pace. The consumer electronics, automotive, industrial, and packaging industries are all seeing increased prospects. Various light-weight vehicle applications are expected to emerge in the polypropylene compound market. Polypropylene belongs to the polyolefins family. It is partly crystalline and non-polar. Its natural properties are similar to those of polyethylene, however it has a higher toughness and heat resistance. Polypropylene is a white plastic. It is commonly utilised in industries because it is chemically resistant and mechanically tough. Growing automotive additives and electronics industries across the globe is expected to create a demand for polypropylene in the near future. Moreover, growing sentience concerning about the sustainability of natural resources, particularly in regions such as North America and Europe is anticipated to drive the polypropylene market. Increasing demand from developing markets, particularly China owing to the development of construction, automotive and building industry is up surging the industry growth. However, high cost of raw materials hinder the market growth. Key players in global polypropylene compounds market enhance their product portfolio and consumer base by adopting striking market strategy like collaborations, acquisitions, technological innovations, among others. For instance, in 2017, LyondellBasell started a new 20 kiloton per year polypropylene compounding plant in Dalian, China. Through this expansion, the company aimed to serve the demand from China growing automotive market.
Study Period
2024-2030Base Year
2023CAGR
7.7%Largest Market
Asia-PacificFastest Growing Market
Europe
Polypropylene compounds are found in various kinds of products such as mineral filled PP, compounded TPO, Compounded TPV, and glass reinforced, others. Mineral filled PP compound product is the leading segment of PP compounds. Minerals are amalgamated in polypropylene compounds in order to produce higher rigidity, and heat distortion. Majorly used mineral in PP compound includes silica, calcium, talc, glass beads, mica. Due to the property exhibited by mineral filled PP they possess a wide range of application in various end users, such as automotive and electrical and electronics.
Global Polypropylene Compounds market report gives comprehensive outlook on Polypropylene Compounds across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Asia Pacific is the leading market. It is expected to show dominance in the years to come. The growth in this region can be attributed to the growing demand of PP compound in various industries. Eccentric economical feedstock are boosting new capacity investment in China, which is anticipated to have a positive impact in the global market. Asia Pacific is further followed by Europe, which is anticipated to increase at a CAGR during the forecast period. The growth in this region is due to stringent rules and regulations imposed by the government concerning recycling and protection of environments have generated promising conditions for the PP compounds.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 17.58 billion |
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Market CAGR |
7.7% |
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By Product Type |
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By End User |
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By Region |
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2023 is the base year and 2029 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
Table of Content
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.