Global Polypropylene Compound Market: An Overview
Polypropylene (PP) or polypropene, is a thermoplastic polymer created via chain-growth polymerization from the monomer propylene.
The global polypropylene compound market is expected to register a robust growth during 2018-2028. The growing opportunities in consumer electronics, automotive, industrial, and packaging industries. The polypropylene compound market will also witness the emergence of various light-weight vehicle applications.
Polypropylene is a member of polyolefins group. It is non-polar and partially crystalline. Its natural qualities are in line with polyethylene, however offers more hardness and better heat resistance. Polypropylene is white in color. It is widely used in industries as it offers high chemical resistance along with a mechanical ruggedness. Thanks to these qualities, the material offers various applications in labeling and packaging. Moreover, it is the second most used plastic after polyethylene.
Polypropylene compounds can also provide transparency for industrial applications, however it is limited in its scope as compared to other plastics like acrylic, polystyrene, and others.
The polypropylene compound market continues to grow, thanks to wide range of existing applications such as manufacturing piping systems, products for laboratory use, food containers, and clear bags. The use of polypropylene compound in manufacturing pipes is especially seeing a rising demand. The material offers high rigidity, strength, and purity for manufacturing piping systems. These systems used often in hydronic heating, portable plumbing, and reclaimed water are expected to create significant opportunities in the polypropylene compound market.
Global Polypropylene Compound Market: Notable Developments
- Researchers from the University of Sheffield have discovered a new way to provide extra protection for homes from fires. They used old recycled materials from tires to protect concrete from damage. These materials involve fibres extracted from the polypropylene textiles. These fibres have also reduce the spall tendencies of concrete and is likely to aid the construction process.
Many modern techniques use PP based fibers to reduce fire spalling. However, the latest technique shows that used tire fibers are more useful than raw materials. The results of the study are published in the fire journal Fire Technology.
- ExxonMobil has announced plans to construct a new polypropylene production plant in the US Gulf Coast in Louisiana. The plant will expand the manufacturing capacity of its local unit by 4, 50,000 tons per year.
The polypropylene plant is expected to serve demand for enhancing the performance and safety of every consumer products. The plant will also cater to growing demand for light-weight auto parts which are projected to rise in demand, thanks to growing concerns surrounding fuel-efficiency.
Global Polypropylene Compound Market: Key Trends
The rising expansion of automotive and electronics industry are expected to drive growth of the global polypropylene compound market. The key application of plastics in reducing vehicle weight along with increased protection, and stringent demands regarding sustainability are expected to create several new opportunities for growth in the polypropylene compound market. These opportunities are expected to drive major growth in North America, Europe, and Asia Pacific.
China is quickly emerging as a major manufacturer of automobiles. The country is upping its demand for the polymer significantly, thanks to expanding automotive and construction industry. on the other hand, the instability of prices in the raw material market can limit growth of the polypropylene compound market. Polypropylene compounds are derived from petroleum products. Due to instability in petroleum product prices, the polypropylene compound market can witness some setbacks in the near future.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.