Dublin, July 01, 2021 (GLOBE NEWSWIRE) – The “Polypropylene Compounds Market – Growth, Trends, Impact of COVID-19, and Forecast (2021 – 2026)” the report was added to ResearchAndMarkets.com offer.
The polypropylene compounds market is expected to grow at a CAGR of over 7.2% globally during the forecast period. Polypropylene compounds are thermoplastic resins formed by combining one or more base polyolefins with various materials, such as impact modifiers, fillers and reinforcements, pigments and additives. The growing demand for consumer electronics has been the driving force behind the growth of the market.
However, the fluctuation of raw materials and the coronavirus epidemic across the world are likely to hamper the growth of the studied market.
The research and development of environmentally friendly polypropylene compounds is expected to provide opportunities for the polypropylene compounds market over the next five years.
The automotive industry is the most dominant end-user segment for the market studied. The Asia-Pacific region has dominated the world with increasing consumption from countries like China and India.
Key market trends
The automotive industry will dominate the market
- The automotive industry is the dominant segment due to the ever increasing demand for polypropylene resin as a replacement for metal and electronic plastics in automotive manufacturing.
- The growing demand for high strength lightweight products in the automotive industry is expected to accelerate the growth of the target market in order to reduce vehicle weight and improve fuel efficiency.
- The low density of PP compounds increases automotive fuel economy and lowers the overall cost of raw materials. The great versatility of polypropylene has led to the development of creative designs that improve passenger safety and comfort. It is these aspects that are driving the demand for PP compounds.
- The auto industry has seen a drop in production in countries like the United States, China, and Germany since 2018, which is expected to lead to lower consumption of polypropylene compound. However, the auto industry is expected to witness a recovery in production from 2021.
- All of the aforementioned factors are expected to drive the polypropylene compounds market during the forecast period.
The Asia-Pacific region will dominate the market
- Due to the strong demand from the automotive and consumer electronics industry, especially in emerging countries such as India and China, the Asia-Pacific market is expected to be the most important market and fastest growing during the forecast period.
- The flexible packaging industry in the Asia-Pacific region is growing at a faster rate due to its advantages, such as easy handling, portable packaging, and lightness.
- Easy access to raw materials, well-developed infrastructure, and a skilled and cheap labor force have prompted major international automakers to invest in the Asia-Pacific region. Hence, all these factors are expected to drive the polypropylene compounds market in Asia-Pacific region.
- The region’s electronics market is also growing at a steady pace. In addition, with companies actively investing in the region’s electronics industry, demand is expected to continue to increase, thereby increasing the use of polypropylene in the Asia-Pacific region.
- Market demand for electric cars and policies under the Clean Energy Ministerial (CEM), such as the electric vehicle initiative and growing enthusiasm for electric vehicles, are expected to drive consumption of polypropylene compounds. in a close future.
- Hence, all these market trends are expected to drive the polypropylene compounds market demand in the region during the forecast period.
The global Polypropylene Compounds market is fragmented in nature due to the presence of many players in the market without significant market share. Some of the major companies are LyondellBasell Industries Holdings BV, Repsol, SABIC, Sumitomo Chemical Co., Ltd. and Exxon Mobil Corporation, among others.
Reasons to buy this report:
- The Market Estimate (ME) sheet in Excel format
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Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand for Consumer Electronics
4.1.2 Other pilots
4.2.1 Fluctuation in the cost of raw materials
4.2.2 Adverse conditions due to the COVID-19 epidemic
4.3 Industry Value Chain Analysis
4.4 Porter’s five forces analysis
4.4.1 Threat of new entrants
4.4.2 Bargaining power of buyers
4.4.3 Bargaining power of suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of competition
5 MARKET SEGMENTATION
5.1 Product type
5.1.1 Filled with minerals
5.1.2 Compound TPO
5.1.3 Compound POS
5.1.4 Reinforced glass
5.2 End-user industry
5.2.3 Electricity and electronics
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and acquisitions, joint ventures, collaborations and agreements
6.2 Market share analysis / ranking **
6.3 Strategies adopted by the main actors
6.4 Company profiles
6.4.1 BorÃ©alis SA
6.4.2 Domo Chemicals
6.4.3 Exxon Mobil Corporation
6.4.5 JJ Plastalloy
6.4.6 LG Chem.
6.4.7 LyondellBasell Industries Holdings BV
6.4.8 Mitsubishi Chemical Corporation.
6.4.9 MITSUI CHEMICALS AMERICA, INC.
6.4.12 RTP Company
6.4.14 Sumitomo Chemical Co., Ltd.
6.4.15 The Plastics Group of America
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Research and development of environmentally friendly polypropylene compounds
7.2 Other opportunities
For more information on this report, visit https://www.researchandmarkets.com/r/ygvpz4