Lucintel Forecasts Polypropylene Compound Market to Reach $17.4 Billion by 2028

According to the recent study the Polypropylene Compound Market is projected to reach an estimated $17.4 billion by 2028 from $13 billion in 2022, at a CAGR of 5% from 2022 to 2028. 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 type (mineral filled, glass reinforced, additive concentrates, compounded TPO/TPVs, and others), polymer type (homopolymers, random copolymers, and impact copolymers), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Automotive market is expected to remain the largest segment during the forecast period.”

Based on end use, the polypropylene compound market is segmented into automotive, appliances, consumer electronics, packaging, industrial, and others. Lucintel forecasts that the automotive market is expected to remain the largest 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.

“Within the polypropylene compound market, the impact polymer segment is expected to remain the largest polymer type.”

Based on polymer type the impact polymer segment 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.

“Asia pacific will dominate the polypropylene compound market in near future.”

Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing growth in automotive production and appliance industry.

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Major players of polypropylene compound market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. LyondellBasell, Mitsui Chemical Inc., Borealis AG, Jpanese Polypropylene Corporation, Sumitomo Chemical Co. Ltd. are among the major polypropylene compound providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/polypropylene-compound-market.aspx or helpdesk@lucintel.com.

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