Global Polypropylene Compounds Market: Industry Analysis and Forecast (2020-2026)

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Global Polypropylene Compounds Market size was valued at US$ 15.8 Bn in 2019 and the total revenue is expected to grow at 6.2% through 2020 to 2026, reaching nearly US$ XX Bn.

The global Polypropylene Compounds market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Polypropylene Compounds report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Polypropylene Compounds Market Overview:

Polypropylene is a thermoplastic polymer used in various industries as it offers high chemical resistance along with a mechanical roughness. Polypropylene compounds provide transparency for industrial applications, it is limited in its scope related to other plastics like acrylic, polystyrene, and others.
Global Polypropylene Compounds Market Dynamics:

Increasing demand from the automotive industry for polypropylene resin as a substitute for metal and electronics plastics in automotive manufacturing drives the global polypropylene compounds market demand. Also, the growing demand for lightweight products in the automotive industry is expected to witness the largest market growth to reduce the weight of the vehicle and enhance fuel efficiency. The low density of polypropylene influence fuel economy and decrease cost of raw materials. The automotive industry experiencing in deterioration in production in U.S., China, and Germany in 2018, resulted in the consumption of products decreases. Moreover, the automotive industry has witnessed significant growth during the forecast period 2020-2026. These all factors drive the global polypropylene compounds market growth.

The volatile raw material prices and the outbreak of COVID-19 all over the globe are major restraining factors for market growth. The research and development activities of eco-friendly polypropylene compounds are expected to create lucrative opportunities for the polypropylene compound market during the forecast period.
Global Polypropylene Compounds Market Segment Analysis:

By Product, the polypropylene compounds market is segmented into mineral-filled, compounded TPV, and others.

Global Polypropylene Compounds Market

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By End-Use, the market is segmented into automotive, electrical & electronics, and others. The automotive end-use segment held a largest revenue share of more than 54% in 2019 and is expected to grow at a CAGR of XX% during the forecast period 2020-2026. The increasing popularity of polypropylene as a substitute for engineering plastics and metal in automotive applications is expected to propel the polypropylene market demand in the segment during the forecast period. The low density of polypropylene compounds supports influencing the fuel economy of vehicles and eases the raw material costs.

Additionally, the high flexibility of polypropylene has directed the creation of inventive designs, which improve passenger safety and comfort. These factors are expected to enhance the product demand during the forecast period. Other major end-use industries in the market are building & construction, textiles, and electrical & electronics.

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Global Polypropylene Compounds Market Regional Insights:

Asia Pacific Dominate the Global Polypropylene Compounds Market

The Asia Pacific held the largest market share of more than 43% in terms of revenue in 2019 and is expected to grow at a rapid pace during the forecast period 2020-2026. Growing demand from the automotive industry and consumer electronics, in developing countries including India and China. Because of polypropylene advantages like simple handling, portable packaging, and lightweight, the product is mainly used in the flexible packaging industry in the Asia Pacific. Low-cost labor, availability of raw materials, strong infrastructural facilities, this factors attracted international automotive end-users to invest in this region. Furthermore, the major end-use industries aggressively investing in the electronics industry in the region, thereby, the polypropylene demand is expected to enhance in the Asia Pacific.

Rising demand for electric cars and policies under Clean Energy Ministerial (CEM), like initiative on electric vehicles and growing interest in electric vehicles is expected to propel the polypropylene market demand during the forecast period.

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The objective of the report is to present a comprehensive analysis of the Global Polypropylene Compounds market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Polypropylene Compounds market dynamics, structure by analyzing the market segments and project the Global Polypropylene Compounds market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Polypropylene Compounds market make the report investor’s guide.
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Global Polypropylene Compounds Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Polypropylene Compounds Market Key Players

• LyondellBasell Industries Holdings B.V.
• Solvay
• ExxonMobil Corp.
• Trinseo
• Sumitomo Chemical Co., Ltd.
• Washington Penn Plastics Co., Ltd.
• Rhetech, Inc.
• A. Schulman
• Avient Corp
• Repsol
• SABIC
• PolyOne
• Exxon Mobil Corporation
• Washington Penn Plastics Co., Ltd.
• Others

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