Global Polypropylene Compounds Market Report 2024-2030: Rising Demand for Lightweight and High-Performing Plastics in Automotive Industry Fuels Growth - Projected $32.2 Billion Market by 2030

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Feb 21, 2024, 14:45 ET

DUBLIN, Feb. 21, 2024 /PRNewswire/ -- The "Global Polypropylene Compounds Market Size, Share & Trends Analysis Report by Product (Mineral Filled, Compounded TPO, Compounded TPV, Glass Fiber Reinforced, Talc Filled), Application, End-use, Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.

The global polypropylene compounds market is estimated to reach USD 39.21 billion by 2030, growing at a CAGR of 7.8% from 2024 to 2030. The major factor contributing to the growth of the polypropylene (PP) compounds market is the rising demand for lightweight and high-performing plastics in the automotive industry.

There has been a shift in the trend toward manufacturing lightweight vehicle components owing to the stringent environmental regulations issued by the government to promote fuel economy. Polypropylene, being plastic, is lightweight and therefore positively influences the efficiency of the vehicle. Increasing incorporation of plastics in automotive components and the simultaneous rise in the production of electric passenger cars and heavy-duty vehicles, particularly in Asia and Central & South America, are expected to propel the growth of PP compounds over the forecast period.

The glass fiber reinforced segment is expected to lead the market from 2024 to 2030. Glass-reinforced polypropylene offers higher tensile strength, enhanced heat resistance and significantly improved stiffness. This product is commonly used in structural components that require the aforementioned properties and are predominantly a part of furniture, appliances, and automotive applications.

The electrical & electronics application segment is expected to grow at a CAGR of 7.8% from 2024-2030. Polypropylene compounds are used in electrical and electronics industry owing to their benefits such as weight reduction, thermal & electrical insulation, and miniaturization. Their demand has propelled over the past years due to increased use of advanced features such as high-density data storage. Moreover, the use of PP compounds has enabled the development of higher performing, affordable and convenient electronic equipment that are recyclable owing to its halogen-free nature.

Europe emerged as the third-largest market for PP compounds and accounted for a market share of around 21% in 2023. Europe is one of the prominent manufacturers of automobiles and is expected to continue its dominance in this sector over the forecast period. The rising demand for lightweight electric and hybrid vehicles, along with the presence of major automotive manufacturers, including AUDI AG, BMW AG, Mercedes-Benz AG, Automobili Lamborghini S.p.A., and Porsche Austria GmbH & Co. in this region, makes it a hub for the automotive industry.

Propylene Compounds Market Report Highlights

Based on product, the glass fiber reinforced segment is expected to grow at a CAGR of over 8% from 2024 to 2030. The product find application across industries due to their higher tensile strength, heat resistance, and improved stiffness
Based on end-use, the building & construction segment is expected to grow at a CAGR of over 7% from 2024 to 2030. The use of polypropylene-based compounds in the building and construction segment has increased in recent years, owing to their benefits such as energy efficiency, weather resistance, and green roofing options
Increasing demand for electronic gadgets such as mobiles, laptops, tablets, and phablets in emerging economies of the Asia-Pacific and Central & South America, such as China, India, Vietnam, Thailand, Brazil, and Argentina, is expected to drive polypropylene compounds consumption in the electrical & electronics application segment

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot

Chapter 3. Polypropylene Compounds Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Regulatory Framework
3.4. Market Dynamics
3.5. Industry Analysis Tools

Chapter 4. Polypropylene Compounds Market: Product Estimates & Trend Analysis
4.1. Product Movement Analysis & Market Share, 2023 & 2030
4.2. Polypropylene Compounds Market Estimates & Forecast, by Product, 2018 to 2030 (Kilotons) (USD Million)
4.3. Mineral filled PP compounds
4.4. Compounded TPO
4.5. Compounded TPV
4.6. Glass Fiber Reinforced
4.7. Talc Filled
4.8. Others

Chapter 5. Polypropylene Compounds Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2023 & 2030
5.2. Polypropylene Compounds Market Estimates & Forecast, by Application, 2018 to 2030 (Kilotons) (USD Million)
5.3. Fiber
5.4. Film & Sheet
5.5. Raffia
5.6. Others

Chapter 6. Polypropylene Compounds Market: End-use Estimates & Trend Analysis
6.1. End-use Movement Analysis & Market Share, 2023 & 2030
6.2. Polypropylene Compounds Market Estimates & Forecast, by End-use, 2018 to 2030 (Kilotons) (USD Million)
6.3. Automotive
6.4. Building & Construction
6.5. Electrical & Electronics
6.6. Textile
6.7. Others

Chapter 7. Polypropylene Compounds Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2023 & 2030

Chapter 8. Polypropylene Compounds Market - Competitive Landscape
8.1. Recent Developments & Impact Analysis, by Key Market Participants
8.2. Company Categorization
8.3. Company Market Share/Position Analysis, 2023
8.4. Company Heat Map Analysis
8.5. Strategy Mapping
8.6. Company Profiles

Mitsui Chemical, Inc.
IRPC Public Company Limited
Exxon Mobil Corporation
Avient Corporation
Japan Polypropylene Corporation
SABIC
Trinseo S.A.
Sumitomo Chemical Co., Ltd.
Washington Penn
Borealis AG
LyondellBasell Industries Holdings B.V.
DAEHACOM Co., Ltd.
GS Caltex Corporation

For more information about this report visit https://www.researchandmarkets.com/r/68tb8v

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