According to the recent study the Polypropylene Compound Market is projected to reach an estimated $15.0 billion by 2030from $12.5 billion in 2023, at a CAGR of 3.0% 2023 to 2030. Growth in this market is primarily driven by increasing automotive production and growing demand for consumer electronics and appliances in countries China, the United States, and Hong Kong.Browse 134 figures / charts and 109 tables in this 228 -page report to understand trends, opportunities and forecast in polypropylene compound market by end use (automotive, appliances, consumer electronics, packaging, industrial, and others), filler (mineral filled, glass reinforced, additive concentrates, compounded TPO/TPVs, and others), polymer (homopolymers, random polymers, and impact copolymers and by region (North America, Europe, APAC and Rest of the World).
Lucintel forecasts that automotive will remain the largest end use segment due to the increasing production of automotive production and growing use of composite materials for weight reduction, which helps in better fuel economy, better vehicle performance, and reduced emissions.
Impact polymer will remain the largest segment and it is expected to witness the highest growth over the forecast period because it offers tougher material and excellent impact strength at high as well as low temperature.
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Europe is expected to remain the largest market for natural fiber composites because of growth in applications and APAC & ROW are expected to witness the highest growth over the forecast period because of due to higher acceptance level of environmentally sustainable composite materials by automotive OEMs, government directives.
LyondellBasell, Mitsui Chemical Inc., Borealis AG, Japan Polychem Corporation, Sumitomo Chemical Co. Ltd.are the major supplier in the polypropylene compound market.
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Lucintel
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