Automotive Industry to Dominate High Performance Polypropylene Compounds Market through 2025
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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