19-Aug-2019: The global polypropylene
compounds market size is expected to reach USD 28.24
billion by 2025, according to a new report by Grand View Research, Inc. It is
projected to register a CAGR of 7.6% over the forecast period. Increasing
requirement for flame retardancy, heat resistance, and improved serviceability
of plastics in electrical and electronics industry is expected to be the
primary driver for polypropylene (PP) compounds market growth. In addition,
regulations in western markets, such as European Union (EU) and U.S., aimed at
vehicular weight reduction can further fuel demand for PP compounds in
automotive industry.
Mineral filled PP
compounds is expected to be a dominant product segment over the forecast period
owing to superior properties, such as higher heat distortion and rigidity. The
most widely used minerals in PP compounds include talc, glass beads, mica,
silica, and calcium.
Low cost production
in China has led to a surge in new polymer production which is driving the PP
compounds market to oversupply. Furthermore, population expanse, rapid
industrialization, and increase in consumer disposable income are some of the
key socio-economic factors supporting regional market growth.
The global PP
compounds market is the second largest polymer business in the world, which
contributes more than 25% of the global polymer demand. Basic raw materials
required for producing chemicals include feedstock, such as crude oil, natural
gas, and other sources. Numerous market players have begun manufacturing raw materials
on their own, to combat supply-demand imbalances and to meet the uncertainty of
crude oil prices.
In
depth research report on Polypropylene (PP) Compounds Market
Further key findings from the report suggest:
·
Compounded TPV is projected to emerge as the fastest growing
product segment and is expected to register a CAGR of 6.4% between 2018 and
2025
·
Mineral filled PP compounds segment is projected to continue
to be the largest product segment over the forecast period
·
Asia Pacific accounted for 45.9% of overall PP compounds
market in 2017 and is projected to experience significant growth over the next
eight years owing to rapid expansion, especially in China, India, and South
East Asia
·
Key players operating in the PP compounds market include
LyondellBasell, ExxonMobil, PolyOne Corporation, Advanced Composites, Solvay
SA, and Sumitomo Chemicals.
Grand View Research
has segmented the global PP compounds market on the basis of product, end use,
and region:
Polypropylene (PP) Compounds Product Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
·
Mineral Filled PP Compounds
·
Compounded TPO
·
Compounded TPV
·
Glass Reinforced
·
Others
Polypropylene (PP) Compounds End-use Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
·
Automotive
·
Interior
·
Exterior
·
Under the Hood Components
·
Building & Construction
·
Electrical & Electronics
·
Textiles
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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