The global polypropylene compounds market size was valued at USD 17.58 billion in 2021 and is expected to grow at a compound annual growth rate CAGR of 7.7% from 2022 to 2028. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “Global Polypropylene Compounds Market: By Product Type (Mineral Filled PP, Compounded TPO, Compounded TPV, Glass Reinforced, Others), By End User Type (Automotive, Building Construction, Electrical Electronics, Textiles, Others), and Geography- Global/Region/Country Forecast to 2028",
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An overview on the Global Polypropylene Compounds Market
Polypropylene compounds can be found in different types of products such as glass reinforced, mineral filled PP, compounded TPV, compounded TPO and others. Polypropylene is partially non-polar and crystalline. It belongs to the polyolefins family. Natural properties of polypropylene are similar to the properties of polyethylene but it has heat resistance and a higher toughness. Polypropylene is frequently used in industries as it is mechanically tough and chemically resistant. It is a white plastic. Increasing electronics and automotive industries around the globe is anticipated to enhance the demand for polypropylene in the upcoming days.
Furthermore, growing demand from China, a developing market due to the development of building, construction and automotive industry is up surging the growth of the industry. But, high price of raw materials hamper the growth of market. Major players working in the global polypropylene compounds market augment their customer base as well as product portfolio by implementing prominent market strategy such as technological innovations, collaborations, acquisitions, among others. For example, In Dalian, China, LyondellBasell began a new 20 kiloton per year polypropylene compounding plant in the year 2017. The company through this expansion planned to serve the demand from expanding automotive market of China.
Regional Analysis - Global Polypropylene Compounds Market
Global polypropylene compounds market report offers a complete viewpoint on polypropylene compounds around the globe making special focus on major regions including Asia Pacific, North America, Europe, Latin America, Africa and Middle East. Among all these regions, Asia Pacific is leading the market and is anticipated to witness dominance in upcoming years. This region is witnessing growth due to the growing demand of PP compound in different industries. Eccentric economical feedstock is fuelling new capacity investment in China, which is expected to show a positive impact in the global market. Followed by Europe, Asia Pacific region is also expected to witness increased CAGR rate during the prediction time span. Growth in this region is because of the strict regulations compelled by the government about recycling as well as protection of environment generated promising conditions for the PP compounds.
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Competitive Analysis - Global Polypropylene Compounds Market
There are a few major players operating in the global polypropylene compounds market such as LyondellBasell, ExxonMobil, Schulman, PolyOne Corporation, Advanced Composites, Washington Penn Plastics Co., Ltd, Solvay, RheTech Inc, Sumitomo Chemicals and Trinseo. Key players in the market focus on following a few major strategies.
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