According to TechSci Research report, “Global High Performance Polypropylene Compounds Market By Type (Mineral Reinforced, Glass Reinforced, Rubber Modified, Flame Retardant, Others), By Melt Flow Index (Up to 5, 5.1 to 15, Above 15), By Application (Bumper, Instrument Panels, Door Trim Panels, Side Panels, Air Filter Housing, Thermoformed Containers, Others), By Region, Forecast & Opportunities, 2025”, the global high performance polypropylene compounds market is expected to grow at a steady rate during the forecast period on account of the growing awareness among the consumers pertaining to environmental protection and sustainability. These compounds are highly recyclable, consume less energy and produce lesser amount of waste as compared to the other types of plastics. Additionally, technological advancements and increasing investments on R&D are further expected to propel the market during forecast period. Furthermore, growing investments by the major players is further fueling the demand for these compounds. Crude oil is one of the raw materials used for manufacturing these compounds. The fluctuations in the price of crude oil is negatively impacting the growth of market during forecast period.
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The global high performance polypropylene compounds market is segmented based on type, melt flow index, application, end user industry, company and region. Based on type, the market can be categorized into mineral reinforced, glass reinforced, rubber modified, flame retardant and others. The glass reinforced high performance polypropylene compounds type is expected to register significant growth during the forecast years. These utilize both long and short glass fibers that help in improving the stiffness and strength of the compounds. As a result of this, the short glass fibers are being extensively used in the automotive industry, while the long glass fibers are replacing metals in various application areas. Based on end user industry, the market can be fragmented into packaging, consumer goods, automotive and others. The automotive industry is expected to dominate the market until 2025. This can be accredited to the low cost, moldability and outstanding mechanical properties of high performance polypropylene compounds, which is increasing their use in manufacturing automotive parts. Additionally, other superior properties of high performance polypropylene compounds driving their use in automotive industry include high chemical resistance, low linear thermal expansion coefficient, specific gravity, stiffness, among others. On the contrary, the packaging industry is expected to witness the highest growth during forecast period owing to the good barrier properties, high strength, good surface finish and low cost of high performance polypropylene compounds. Also, low moisture transmission and high transparency of these compounds make them suitable for packaging applications. The use of these compounds is expected to increase in the medical applications also owing their high chemical and microbial resistance.
Borealis AG, Sabic, Mitsubishi Chemicals Corporation, Sumitomo Chemicals, Lyondell Bassel, A. Schulman, Exxon Mobil, Sirmax® S.p.A., Polyone, Mitsui Chemicals and others are some of the leading players operating in global high performance polypropylene compounds market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“Asia-Pacific is expected to witness significant growth in the high performance polypropylene compounds market during the forecast period, owing to the increasing demand from emerging economies such as India and China. Furthermore, the flourishing automotive and construction industry in the region is driving the market. Also, increasing investments by key players in the region is further anticipated to fuel the market through 2025.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global High Performance Polypropylene Compounds Market By Type (Mineral Reinforced, Glass Reinforced, Rubber Modified, Flame Retardant, Others), By Melt Flow Index (Up to 5, 5.1 to 15, Above 15), By Application (Bumper, Instrument Panels, Door Trim Panels, Side Panels, Air Filter Housing, Thermoformed Containers, Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global high performance polypropylene compounds market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global high performance polypropylene compounds market.
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