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Polypropylene Compounds Market Foreseen to Grow Exponentially by 2028

Increasing demand for polypropylene compounds from various industries to influence the market globally

NEW YORK, UNITED STATES, April 5, 2022 /EINPresswire.com/ -- The scope of The Insight Partners recent study on the “Polypropylene Compounds Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Mineral Filled PP Compounds, Compounded TPO, Compounded TPV, Glass Reinforced, Others); End User (Automotive, Electricals and Electronics, Packaging, Building and Construction, Textiles, Others),” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis. It also, along with entails the identification of significant market players and their key developments in the market .

The polypropylene compounds market is projected to reach US$ 25,864.00 million by 2028 from US$ 17,977.40 million in 2021; it is expected to grow at a CAGR of 5.3% from 2021 to 2028.

Download sample PDF Copy of Polypropylene Compounds Market study at: https://www.theinsightpartners.com/sample/TIPRE00016556/

Polypropylene is a thermoplastic polymer used in a variety of applications. It is produced through chain-growth polymerization derived from the monomer propylene. Polypropylene compounds are thermoplastic resins made by a mixture of one or more polyolefin bases with various components such as additives, fillers, impact modifiers, and pigment. These compounds offer many features and are used in multiple applications, including automotive, electrical and electronics, packaging, building and construction, textiles, and others.

The polypropylene compounds market is mainly driven by the increasing demand for these products from building and construction, textiles, electrical and electronics, and automobile industries. In the automotive industry, polypropylene is popularly being used as an alternative to engineering plastics and metals used in automotive products. Using polypropylene as a less expensive alternative to more costly plastics with equivalent strength and durability reduces manufacturing costs. In the automotive sector, the material is mostly utilized in bumpers, interior trim, fender liners, instrumental panels, and door trims. High strength, rigidity, and purity make these compounds an ideal option in the manufacturing of piping systems. Polypropylene applications in the building and construction industry include siding, air, and moisture barrier membranes, carpet textiles, building insulation wrap films and sheets, industrial adhesives and tapes, and plastic parts.

Polypropylene Compounds Market: Competitive Landscape

Some of the major key players operating in the polypropylene compounds market include LyondellBasell Industries Holdings B.V., Total, Borealis AG, Sumitomo Chemical Co., Ltd., and Exxon Mobil Corporation, among others. To meet the customer's rapidly growing needs, market participants focus on boosting production capabilities and research & development of high-performance polypropylene compounds.

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Impact of COVID-19 Pandemic on Polypropylene Compounds Market

The COVID-19 pandemic has adversely affected the plastics industry, along with the related markets. The implementation of measures to combat the spread of SARS-CoV-2 has impacted the growth of several industrial sectors. Industries such as automotive and electronics have been impacted by the sudden disruptions in operational efficiencies and value chains due to the lockdown of national and international boundaries. However, economies are striving to revive their operations. The food packaging industry is generating significant demand for polypropylene compounds owing to the consumers’ inclination towards ordering food online. Moreover, the previously postponed construction projects are ready to resume, which would further provide an opportunities for the growth of the polypropylene compounds market players. The companies operating in the market are bouncing back due to the resolution of supply constraints. The elevating demand for polypropylene compounds in industries such as packaging, automotive, building and construction, electrical and electronics, is expected to drive the polypropylene compounds market growth in the coming years.

Polypropylene Compounds Market by Type

Based on type, the polypropylene compounds market is segmented into mineral filled PP compounds, compounded TPO, compounded TPV, glass reinforced, and others. The mineral filled PP compounds segment held the largest share of the market in 2020. Calcium carbonate, talc, and mica, among others, added in mineral-filled PP compounds deliver a low-cost filler option in case of price sensitivity. The mineral filled compounds exhibit improved dimensional stability, stiffness, etc., compared unfilled resins. Mineral-filled polypropylene provides high mechanical stiffness, thermal stability, good low-temperature properties, and good dimensional stability over a wide temperature range.

The size of overall global polypropylene compounds market has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, —along with external consultants such as valuation experts, research analysts, and key opinion leaders, —specializing in the polypropylene compounds market.

Order a Copy of Polypropylene Compounds Market Share, Strategies and Forecasts 2021-2028 Research Report at: https://www.theinsightpartners.com/buy/TIPRE00016556/

About The Insight Partners

The Insight Partners is a one-stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialists in industries such as technology, media, food & beverages, chemicals & materials, and telecommunication.

Press Release: https://www.theinsightpartners.com/pr/polypropylene-compounds-market
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