Harrisburg, NC -- (SBWIRE) -- 10/30/2020 -- Global Polypropylene Compound Market Research Report published by market insight reports explores the current outlook in Global and key regions from the perspective of Major Players, Countries, Product types and end industries. This report analyzes top players in the Global market, and divides the Market into several parameters.
This Polypropylene Compound Market research report identifies the competitive landscape of industries to understand the competition at International level. This report study describes the projected growth of the Global market for approaching years from 2019 to 2025. This research report has been aggregated on the basis of static and dynamic aspects of the businesses.
The market for polypropylene compounds is expected to grow at a CAGR of more than 7.2% globally during the forecast period. Polypropylene compounds are thermoplastic resins that are formed by combining one or more base polyolefins with various materials, such as impact modifiers, fillers, and reinforcements, pigments, and additives. The growing demand from consumer electronics products has been driving the market growth.
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The prominent players in the Global Polypropylene Compound Market:
LyondellBasell Industries Holdings B.V., Repsol, SABIC, Sumitomo Chemical Co., Ltd., and Exxon Mobil Corporation, and Others.
Key Market Trends: -
Automotive Industry to Dominate the Market
- The automotive industry stands to be the dominating segment owing to continuously increasing demand for polypropylene resin as a replacement for metal and electronics plastics in automotive manufacturing.
- Rising demand for lightweight products with high strength in the automotive industry is projected to accelerate target market growth to decrease the weight of the vehicle and boost fuel efficiency.
- The low density of PP compounds increases the automotive fuel economy and reduces the overall cost of raw materials. High polypropylene versatility has led to creative designs being developed which enhances passenger safety and comfort. It is these aspects that drive demand for PP compounds.
- The automotive industry has been experiencing a decline in production in countries such as the United States, China, and Germany since 2018, as a result of which consumption of polypropylene compound is expected to decline. However, the automotive industry is expected to witness a recovery in production from 2021.
- All the aforementioned factors are expected to drive the polypropylene compound market during the forecast period.
Asia-Pacific Region to Dominate the Market
- Due to robust demand from the automotive industry and consumer electronics, particularly in emerging countries such as India and China, the Asia Pacific market is expected to be the largest and fastest-growing market over the forecast period.
- The flexible packaging industry in the Asia-Pacific is rising at a faster pace due to its advantages, such as simple handling, portable packaging, and lightweight.
- Easy availability of raw material, well-developed infrastructural facilities, and skilled & cheap labor force have attracted major international automotive manufacturers to invest in the Asia-Pacific region. Hence, all these factors are expected to drive the market for polypropylene compounds in the Asia-Pacific region.
- The region's electronics market is also rising at a steady pace. Additionally, with companies actively investing in the electronics industry in the region, the demand is likely to continue to expand, thus growing polypropylene use in the Asia-Pacific region.
- Market demand for electric cars and policies under Clean Energy Ministerial (CEM), such as the initiative on electric vehicles and increasing enthusiasm for electric vehicles, are expected to push polypropylene compound consumption in near future.
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Polypropylene Compound Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Polypropylene Compound Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Browse in-depth and report summary TOC on "Polypropylene Compound Market":
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Finally, the Polypropylene Compound market report offers a complete and detailed study of Global Polypropylene Compound market by using numerous analytical tools and models such as SWOT analysis, investment return analysis, and porter's five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except than this, market insight reports will provide customization as per specific demands.
Note: - All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.