Polypropylene Compound Market is segmented by End-Use Industry (Automotive [Interiors, Exteriors, Under the Hood, and Others], Building & Construction [Pipe & Ducts, Insulation, Floor & Wall Coverings, Linings, Window Profiles, and Others], Electrical & Electronics [Refrigerator, Washing Machines, Dishwashers, Tumble Dryers, Air Conditioning, and Others], and Others), by Filler Type (Mineral Filled Compound, Glass Reinforced Compound, Additive Concentrates, Compounded TPO/TPVs, and Others), by Polymer Type (Homopolymer, Random Copolymer, and Impact Copolymer), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and The Rest of the World [Argentina, Brazil, and Others]).
Polypropylene Compound Market is segmented by End-Use Industry (Automotive [Interiors, Exteriors, Under the Hood, and Others], Building & Construction [Pipe & Ducts, Insulation, Floor & Wall Coverings, Linings, Window Profiles, and Others], Electrical & Electronics [Refrigerator, Washing Machines, Dishwashers, Tumble Dryers, Air Conditioning, and Others], and Others), by Filler Type...
Polypropylene compounds are materials produced by combining polypropylene resin with various additives, fillers, reinforcements, or modifiers to enhance their properties. These properties make them suitable for use in automotive parts, consumer goods, construction products, electrical components, packaging materials, and various industrial applications
Market Dynamics
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.
Manufacturers are focusing on developing PP compounds that incorporate recycled materials and bio-based additives. Major companies, such as LyondellBasell Industries Holdings B.V., Mitsui Chemicals, Inc., and Mitsubishi Chemical Corporation, are focused on the development of recycled PP compounds.
Recent Product Developments: The companies are highly focused on developing sustainable, flame-retardant, and cost-effective PP compounds.
SABIC has introduced two new short-glass fiber-reinforced polypropylene (PP) compounds, namely G3430X and G3440X grades. They have the potential to replace long glass fiber PP in certain low-temperature applications, such as automotive under-the-hood, exterior, and interior applications, offering a cost-effective alternative.
Borealis has unveiled a new range of PP compound grades specifically designed for automotive applications. These compounds are a blend of post-consumer recycled (PCR) material and virgin content.
Recent Market JVs and Acquisitions: Major companies are looking to advance the development of their PP compound businesses to enhance their product offerings and capabilities. There have been a few strategic developments that have shaped the competitive dynamics in the market in the last few years. For instance:
In 2022, MOL Group and SAPPI partnered to create PRIMOLEN NF, an eco-designed PP compound that integrates natural fibers to substitute mineral fillers for automotive interior and semi-structural applications.
In 2020, Kingfa collaborated with ExxonMobil to develop and achieve advanced PP8285E1. This high-flow, high-impact copolymer resin is ideal for a variety of tough car parts, including instrument panels, door panels, consoles, and bumper fascias.
In 2019, MOL Group acquired Aurora Kunststoffe GmbH to extend the petrochemical portfolio with higher value-added products. With this acquisition, MOL expanded its range of high-quality polyamide, polypropylene, and other recyclate-based compounds, complementing its existing portfolio.
Covid-19 Impact
The emergence of the pandemic in 2020 left the automotive industry in shambles. The industry stakeholders incurred heavy losses and were forced to resort to extreme measures and reorient their age-old strategies in order to ensure survival and long-term stability. The industry’s rebound had a mirroring impact on the PP compounds market.
Segments Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
End-Use Industry Analysis
Automotive, Building & Construction, Electrical & Electronics, and Others
Automotive is expected to remain the largest market over the next five years, whereas electrical & electronics are likely to grow at the fastest pace.
Filler-Type Analysis
Mineral Filled Compound, Glass Reinforced Compound, 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.
Polymer-Type Analysis
Homopolymer, Random Copolymer, and Impact Copolymer
Impact copolymer maintains an unrivaled lead in the market until 2028, whereas random copolymer is anticipated to be the fastest-growing segment.
Regional Analysis
North America, Europe, Asia-Pacific, and The Rest of the World
Asia-Pacific is expected to remain the largest market over the next five years.
By End-Use Industry Type
The PP compounds 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. Bumpers, door panels, interior trims, engine components, and fuel tanks are some applications where PP compounds are widely preferred. Mineral-filled and compounded TPO/TPVs is the predominantly used filler types in this industry.
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By Filler Type
The market is segmented into mineral-filled compounds, glass reinforced compounds, additive concentrates, compounded TPO/TPVs, and others. 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. Mineral fillers, such as calcium carbonate, talc, and mica, are added to compounds to deliver a low-cost option. Alumina trihydrate (ATH) and magnesium dihydroxide (MDH) are added to offer flame-retardant properties.
By 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. Ethylene Propylene Rubber (EPR) and Ethylene Propylene Diene Monomer (EPDM) have been used in PP compounds for a long time as a result, there is an established supply chain and infrastructure in place for their production, distribution, and processing.
Regional Analysis
By region, Asia-Pacific is expected to remain the largest market for PP compounds during the forecast period. 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.
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Key Players
The market is highly populated, with the presence of more than 100 local, regional, and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc. These players have distinct capabilities for manufacturing PP compounds using a multitude of materials. They have been increasing their R&D investments to cope with the high demand arising from various industries. The major players, such as LyondellBasell, Mitsui Chemicals, and Mitsubishi Chemical Corporation, are increasing production capacities of PP compounds to capitalize on the growing market and enhance their competitiveness in the industry. The following are the key players in the PP compounds market.
LyondellBasell Industries Holdings B.V.
Mitsui Chemicals, Inc.
Kingfa SCI. & TECH. CO., LTD.
Mitsubishi Chemical Corporation
Washington Penn
Borealis AG
Sumitomo Corporation
Exxon Mobil Corporation
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s PP compounds market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Polypropylene Compound Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
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Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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The Polypropylene Compound Market is estimated to grow at a CAGR of 4.3% by 2028, driven by a rapid shift toward electric vehicles, which is creating an attractive business opportunity for polymers, including PP compounds. The demand for PP compounds is also driven by the increasing production of vehicles and the introduction of lighter materials to reduce the average car’s weight.
LyondellBasell Industries Holdings B.V., Mitsui Chemicals, Inc., Kingfa SCI. & TECH. CO., LTD., Mitsubishi Chemical Corporation, Washington Penn, Borealis AG, Sumitomo Corporation, and Exxon Mobil Corporation are the leading players in the PP compound market.
Asia-Pacific is anticipated to remain dominant during 2023-2028, propelled by China's and India's continuous developments and ardent efforts to develop excellent supply chains for the automotive industry.
Automotive is likely to remain the major demand generator in the coming years. The demand for fuel-efficient vehicles, electric mobility, and the shift towards lighter materials contribute to the growth of the PP compounds market in the automotive industry.
