SAN FRANCISCO, June 18, 2019 /PRNewswire/ -- The global polypropylene (PP) 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 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.
Key suggestions from the report:
- 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 polypropylene (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.
Read 120 page research report with TOC on "Polypropylene (PP) Compounds Market Size, Share & Trends Analysis Report By Product (Mineral Filled, Compounded TPO, Compounded TPV, Glass Reinforced), By End Use, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/polypropylene-pp-compounds-market
Mineral filled polypropylene 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 polypropylene 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 polypropylene 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.
Grand View Research has segmented the global polypropylene (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
- Polypropylene (PP) Compounds End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Under the Hood Components
- Building & Construction
- Electrical & Electronics
- Polypropylene (PP) Compounds Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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