According to the report published by Allied Market Research, the global polypropylene compounds market reached $16.2 billion in 2021 and is projected to reach $29.7 billion by 2031, with a CAGR of 6.3% from 2022 to 2031. The report offers a comprehensive analysis of key investment opportunities, winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving trends, serving as a valuable resource for industry leaders, newcomers, investors, and shareholders to strategize for future growth and market positioning.
Polypropylene compounds (PP) are versatile thermoplastic polymers widely used across various applications. Known for their toughness, rigidity, and crystalline structure, polypropylene compounds are derived from propene monomers and find extensive use in packaging, labeling, automotive, building & construction, and other sectors.
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The market growth is closely linked to the expansion of the automotive and building & construction industries. In the automotive sector, polypropylene compounds are utilized to enhance fuel efficiency and meet stringent environmental standards for car interiors. Meanwhile, the burgeoning packaging industry, integral to manufacturing, further fuels demand for polypropylene compounds, particularly in packaging applications.
The global polypropylene compounds market is segmented by end-use industry, product type, and region, with a detailed analysis provided for each segment. The automotive segment accounted for more than two-fifths of the market revenue in 2021 and is expected to maintain its dominance by 2031. Conversely, the others segment is anticipated to exhibit the fastest CAGR of 7.5% during the forecast period.
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In terms of product type, the mineral-filled segment held a significant share of the market revenue in 2021 and is projected to lead the market by 2031. However, the glass reinforced segment is forecasted to register the fastest CAGR of 7.0% during the forecast period.
Geographically, the Asia-Pacific region emerged as the leading market, generating over two-fifths of the global market revenue in 2021 and is poised to maintain its dominance through 2031. Additionally, Asia-Pacific is expected to witness the fastest CAGR of 6.7% during the forecast period. Other regions analyzed in the report include Europe, North America, and LAMEA.
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Key market players in the global polypropylene compounds market include LG Chem, Clariant AG, Solvay S.A., Exxon Mobil Corporation, SIBUR, Ineos Group, Dow Inc., Eastman Chemical Company, Avient Corporation, Hitemp Polymers Pvt. Ltd., Amcor plc, Sumitomo Chemical Co., Ltd., Borealis AG, LyondellBasell Industries Holdings B.V., BASF SE, Repsol, and RTP Company. These players have implemented various strategies such as partnerships, expansions, collaborations, and joint ventures to strengthen their market presence and drive growth. The report offers a detailed analysis of their business performance, product portfolio, operating segments, and key developments.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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