Market Dynamics to Escalate Demand for Polypropylene (PP) Compounds Throughout 2

Posted by Vakhas on April 29th, 2019

The global polypropylene (PP) compounds market size was estimated to reach USD 15.78 billion in 2017 and estimated to register a CAGR of 7.6% at a market value of USD 28.24 billion by 2025, as reported by Grand View Research, Inc. Polypropylene (PP) is a rigid and tough crystalline thermoplastic obtained from propylene (propene) monomer. It is estimated that increasing use of polypropylene-based materials in automotive parts as an alternative to engineering metals and plastics to achieve cost savings and weight reduction will drive overall market growth by 2025. Rising use of these compounds for automotive applications is further supported by better performance of PP resins.

PP compounds offer a wide range of aspects and are exclusively used for broad consumer applications such as furniture components, automotive industry, building and construction, and electrical appliances. Reduced wall thickness of  automotive components lowers transportation costs, achieve light-weight solutions, reduces emissions, and gives better fuel economy, which together offer outstanding competitive advantages for multiple end-uses. These factors are estimated to drive PP compounds in automotive application sector.

U.S. is known to be the world’s largest automotive market owing to the presence of several manufacturers of auto parts and vehicles. To accomplish improved fuel efficacy, there is a high demand for PP compounds in automotive manufacturing sector. The European Union and EPA applied strict regulatory norms to cut down carbon emission to reduce gross vehicular weight.

However, powder slush molding, monomaterial dashboard, PP film cushioning, PP textile covers, low molded parts, and film skins are the emerging factors in automotive application sector. In 2017, Mitsui Chemicals Group strengthened its production capacity in Asia, Europe, and North America by securing its position as the world’s top class provider of polypropylene compounds for automotive use.

Evonik Industries have produced novel siloxane based additives for automotive applications that provide permanent scratch resistance. Trinseo Automotive launched INSPIRE™, an exclusive range of PP systems and compound-based product line for automotive applications. Trinseo's talc-filled INSPIRE™ polypropylene resins are specially developed for aesthetic automotive applications with good UV light stabilization and scratch resistance.

The prominent manufacturers of polypropylene (PP) compounds are A. Schulman; Trinseo, LyondellBasell; PolyOne Corporation; Advanced Composites; Sumitomo Chemicals; RheTech Inc.; Solvay; ExxonMobil; and Washington Penn Plastics Co., Ltd. These major manufacturers strongly capitalize on the expansion of their business and growth to uphold a top position.

To Know More Information Of Polypropylene (PP) Compounds Market @ https://www.grandviewresearch.com/industry-analysis/polypropylene-pp-compounds-market