DALLAS, TX / ACCESSWIRE / January 21, 2021 / According to a new market report published by Lucintel, the future of the global polypropylene (PP) compound market is promising with opportunities in the automotive, appliances, consumer electronics, industrial, and packaging industries. The global polypropylene compound market is declined in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $12.7 billion by 2025 with a CAGR of 1% to 3% from 2020 to 2025. The major drivers for this market are growth in demand for light weight vehicles, and increasing demand for PP compound in appliances and consumer electronics industries.
Browse 136 market data tables and 168 figures spread through 221 pages and in-depth TOC on "Global Polypropylene Compound Market"
To download report brochure, please go to https://www.lucintel.com/polypropylene-compound-market.aspx and click "report brochure"tab from the menu .
In this market, different types of polypropylene compound such as homo polymers, random copolymers, and impact copolymers are used as polymer type. On the basis of comprehensive research, Lucintel forecasts that the homo polymer segment will remain the largest segment by value and volume due to low cost and high temperature resistance properties.
Within this market, polypropylene compound for automotive is expected to remain the largest end use industry by value and volume due to growth in automotive production and increasing plastic content per vehicle. Lucintel predicts that the consumer appliances segment will witness the highest growth in the forecast period due to growing middle class population and increasing adoption of smart appliances.
Asia Pacific (APAC) is expected to remain the largest region by value and volume and is also expected to experience the highest growth over the forecast period due to growth in automotive, consumer electronics and appliances production.
An emerging trend, which has a direct impact on the dynamics of the polypropylene compound industry, includes development of eco-friendly polypropylene compounds. LyondellBasell, Mitsui Chemicals, Borealis, Spartech, Washington Penn, Kingfa, Sparsh Polychem, Ravago, Sumitomo Chemical, and SABIC and others are among the major polypropylene compound manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global polypropylene compound market by end use, resin type, filler type, and region and has come up with a comprehensive research report entitled "Growth Opportunities in the Global Polypropylene Compound Market 2020-2025: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global polypropylene compound market by end use, resin type, filler type, and region as follows:
By End Use Industry (Volume (Million Pounds) and $M shipment analysis for 2014 - 2025):
- Automotive
- Appliances
- Consumer Electronics
- Packaging
- Industrial
- Others
By Polymer Type (Volume (Million Pounds) and $M shipment analysis for 2014 - 2025):
- Homo Polymers
- Random Copolymers
- Impact Copolymers
By Filler Type (Volume (Million Pounds) and $M shipment analysis for 2014 - 2025):
- Mineral filled
- Glass fiber filled
- Compounded TPO/TPVs
- Others
By Region (Volume (Million Pounds) and $M shipment analysis for 2014 - 2025):
- North America
- Europe
- Asia Pacific
- The Rest of the World
This 221-page 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 [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. 972.636.5056
Cell: 303.775.0751
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SOURCE: Lucintel