Polypropylene Compound Market is Forecasted to Reach US$ 16.1 billion in 2028, Says Stratview Research

The global polypropylene compound market is projected to witness a growth rate of 4.3% annually from 2023 to 2028, with an anticipated size of US$ 16.1 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global polypropylene compound market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 16.1 billion
Growth (CAGR): 4.3% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Polypropylene Compound Market:
The global polypropylene compound market is segmented based on end-use industry type, filter type, polymer type, and region.

Based on end-use industry type - The polypropylene compound market is segmented into automotive, building & construction, electrical & electronics, and others. Automotive continues to dominate as the leading end-use industry for plastics, particularly PP, due to its mechanical properties and moldability, with usage expected to increase in automotive components over the next five years.

Based on filler type - The market is segmented into mineral-filled compounds, glass reinforced compounds, additive concentrates, compounded TPO/TPVs, and others. Mineral-filled compound to maintain an unwavering share in terms of value and volume during the forecast period. Mineral is a dominant filler with usage in a variety of end-use industries due to its ability to offer a balance of performance, cost-effectiveness, weight reduction, heat resistance, dimensional stability, flame retardancy, and improved surface finish.

Based on polymer type - The market is segmented into homopolymer, random copolymer, and impact copolymer. Impact copolymer is expected to remain the largest segment during the forecast period. Impact copolymers are engineered with additives and modifiers that improve their ability to withstand impacts and resist cracking or breaking.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/3070/polypropylene-compound-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for PP compounds during the forecast period. This growth outlook is majorly attributed to the following-
The region is quite vulnerable to high-tension border conflicts and terror threats.
• China, Japan, and India are major automobile manufacturing hubs that are fueling the demand for PP compounds in the region.
• On the other hand, the second-leading position captured by Europe in the market is driven by the changing market landscape. This region is also home to key PP compound producers such as LyondellBasell, Borealis, ExxonMobil, SABIC, and TotalEnergies.

Polypropylene Compound Market Drivers:

Some of the key drivers listed in the report are given below.
The market is driven by the rising demand for lightweight and high-performing plastics in the automotive industry. PP compounds are used in a variety of parts in automobiles, including bumper facias, instrument panels, and door trims. The electrical & electronics industry is increasingly incorporating PP compounds into their products, such as washing machines, refrigerators, dishwashers, and tumble dryers, to achieve improved thermal stability and mechanical stiffness.
For the building & construction industry, PP compounds help reduce heat transfer between different areas of a building, enhance energy efficiency, and maintain comfortable indoor temperatures, making them a preferred insulating material.

Top Companies in the Polypropylene Compound Market:
Stratview Research has identified the following companies as the top market players.
• Borealis AG
• Exxon Mobil Corporation
• Kingfa SCI. & TECH. CO., LTD.
• LyondellBasell Industries Holdings B.V.
• Mitsubishi Chemical Corporation
• Mitsui Chemicals, Inc.
• Sumitomo Corporation
• Washington Penn

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Polypropylene Compound Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Polypropylene Random Copolymer Market: https://www.stratviewresearch.com/3006/polypropylene-random-copolymer-market.html
• Cast Polypropylene (CPP) Films Market: https://www.stratviewresearch.com/1071/cast-polypropylene-(CPP)-films-market.html

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This release was published on openPR.