Increasing adoption of light weight materials and rising demand for long-fiber thermoplastic PP compound are some key factors driving global PP compound market growth
The global PP compound market size reached USD 17.59 Billion in 2020 and is expected to register a revenue CAGR of 7.6% during the forecast period, according to latest analysis by Emergen Research. Rising demand for long-fiber PP compound and increasing adoption of lightweight materials are some of the major factors driving global PP compound market revenue growth. Revenue growth of the market is also expected to be driven by increasing demand for PP compound due to rapid growth of end-use industries such as automotive, electronics, textile, and construction.
Currently, long-fiber thermoplastic PP compounds are used in automotive front-end carriers, door panels, pedals, under body shields, and many more. It has reached its peak with the help of resin companies. Glass fibers are combined with PP compounds to make different parts of the car, which enables replacing steel with PP compound. It even helps to reduce the use of expensive engineering plastics, and enables offering of more cost-effective vehicles to consumers.
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Competitive Outlook:
The global PP Compound Market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global PP Compound Market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Key players involved in the market, such as LyondellBasell Industries Holdings B.V., Saudi Basic Industries Corporation (SABIC), Mitsui Chemicals, Inc., Avient Corporation, Ravago Holdings America, Inc., Washington Penn Plastic Co., Inc., Kingfa Science & Technology Co., Ltd., Sumitomo Shoji Chemical Co., Ltd., PP-Plus Corporation, and HEXPOL AB (RheTech).
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Emergen Research has segmented the global PP compound market on the basis of product, polymer type, end use, and region:
Product Outlook (Revenue, USD Billion; 2018–2028)
Mineral Filled
Compounded TPO
Compounded TPV
Glass Reinforced
Others
Polymer Type Outlook (Revenue, USD Billion; 2018–2028)
Homo Polymers
Random Copolymers
Impact Copolymers
End Use Outlook (Revenue, USD Billion; 2018–2028)
Automotive
Building & Construction
Electrical & Electronics
Textiles
Others
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Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Outlook of PP Compound Market:
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the PP Compound market?
What are the key product types and applications of the PP Compound industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the PP Compound market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the PP Compound Market by 2028?
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