Market Introduction
Polypropylene, a thermoplastic polymer, is used in a variety of applications. It is basically produced through chain-growth polymerization derived from the monomer propylene. Polypropylene compounds are basically thermoplastic resins that are produced by a mixture of one or more polyolefins base along with various components such as strengtheners, fillers, impact modifiers, additives, and pigment. These compounds offer many features and are used in a variety of applications.
Market Overview and Dynamics
The Europe polypropylene compounds market was valued at US$ 2,928.947 Million in 2020 and is projected to reach US$ 4,179.15 Million by 2028; it is expected to grow at a CAGR of 4.7% from 2021 to 2028. Polypropylene (PP) is a thermoplastic polymer produced via chain-growth polymerization of monomer propylene. The polypropylene compounds market in Europe is mainly driven by the increasing demand for these products from the building and construction, textiles, electrical and electronics, and automobile industries, among others. In the automotive industry, polypropylene is popularly being used as an alternative to engineering plastics as well as for metals used in automotive products. Using polypropylene as a cost-effective alternative to expensive plastics of similar strength and durability further helps lower the cost of manufacturing. In the automotive industry, the material is mainly being used in battery cases and trays, bumpers, interior trim, fender liners, instrumental panels, and door trims owing to its features such as low coefficient of linear thermal expansion and specific gravity, high chemical resistance, good weatherability and processability, and impact/stiffness balance.
In 2020, the UK, Germany, and Russia contributed to the largest share in the Europe polypropylene compounds market. Polypropylene is utilized in applications such as packaging for consumer goods, plastic parts for several industries special devices such as living hinges, and textiles. Polypropylene brings exceptional clarity, lightweighting, aesthetics, and enhanced sustainability to various commercial packaging applications. In the case of thermoformed & foldable packaging, polypropylene offers several advantageous property and performance benefits. Lightweight, high impact strength, effective sealing, temperature resistance, and sustainability are the properties that make this material is suitable for packaging. Germany is an attractive market for polypropylene compounds owing to the significant presence of food packaging industries; consumer goods industries; and automotive, electrical, and other industries. The material has replaced engineering plastics as well as metals, mainly in automotive parts, as it ensures significant weight reduction along with cost savings. Polypropylene compounds exhibit outstanding mechanical properties as well as moldability, and they are being used as a replacement of plastics in more than half of the use cases.
Key Market Segments
Based on type, the Europe polypropylene compounds market is segmented into mineral filled PP compounds, compounded TPO, compounded TPV, glass reinforced, and others. The mineral filled PP compounds segment led the market with the largest share in 2020. Based on end users, Europe polypropylene compounds market is segmented into automotive, electricals and electronics, packaging, building and construction, and others. The automotive segment led the Europe polypropylene compounds with the highest market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe polypropylene compounds market are paid databases (factiva), publications, hoovers, investor presentations, newsletter, sec archives, annual reports, and other information available in public domain. Major companies listed in the report are Lyondellbasell Industries Holdings B.V.; Exxon Mobil Corporation; Sabic; Sumitomo Chemical Co., Ltd; Borealis AG; Total; and Trinseo, Rialti S.P.A.
Reasons to buy report
Europe Polypropylene Compounds Market Segmentation
Europe Polypropylene Compounds Market, By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 2,928.947 Million |
| Market Size by 2028 | US$ 4,179.15 Million |
| CAGR (2021 - 2028) | 4.7% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Polypropylene Compounds Market is valued at US$ 2,928.947 Million in 2020, it is projected to reach US$ 4,179.15 Million by 2028.
As per our report Europe Polypropylene Compounds Market, the market size is valued at US$ 2,928.947 Million in 2020, projecting it to reach US$ 4,179.15 Million by 2028. This translates to a CAGR of approximately 4.7% during the forecast period.
The Europe Polypropylene Compounds Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Polypropylene Compounds Market report:
The Europe Polypropylene Compounds Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Polypropylene Compounds Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Polypropylene Compounds Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Europe Polypropylene Compounds Market
