The Asia Pacific Polypropylene Compounds Market would witness market growth of 7.8% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 2,416.5 Kilo Tonnes, showcasing a growth of 5.9% (2019-2022).
The market refers to the industry producing, distributing, and selling these compounds. They are thermoplastic materials made from polypropylene resin combined with additives, fillers, reinforcements, and modifiers to enhance their properties and performance characteristics. The market encompasses various applications across various industries, including automotive, construction, packaging, consumer goods, electrical and electronics, healthcare, and industrial sectors. They are utilized in diverse applications such as automotive components, pipes and fittings, packaging materials, household appliances, electrical enclosures, medical devices, and consumer products.
Furthermore, the market represents a dynamic ecosystem of manufacturers, suppliers, and end-users collaborating to meet the diverse needs of a rapidly evolving marketplace. From automotive components to household appliances, from infrastructure development to healthcare solutions, it play a pivotal role in creating lightweight, durable, and sustainable products and infrastructure.
The growth in textile and garment exports from China signifies an expansion of the export market for textile products. The increased demand for textile exports drives the demand for these compounds as key components in the production process. According to the State Council of the People’s Republic of China, total profits of China’s major textile enterprises rose 7.2 percent year on year in 2023. In 2023, these companies generated profits of 180.2 billion yuan (about 25.38 billion U.S. dollars). Textile and garment exports resumed expansion in December 2023, up 2.6 percent yearly to 25.3 billion dollars. Hence, the textile industry’s expansion is propelling the market’s growth.
The China market dominated the Asia Pacific Polypropylene Compounds Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,547.6 million by 2030. The Japan market is registering a CAGR of 7.1% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 8.4% during (2023 - 2030).
Based on Product, the market is segmented into Mineral Filled PP Compounds, Compounded TPO, Compounded TPV, Glass Fiber Reinforced, Talc Filled, and Others. Based on Application, the market is segmented into Film & Sheet, Fiber, Raffia, and Others. Based on End-use, the market is segmented into Automotive, Building & Construction, Textile, Electrical & Electronics, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Application (Volume, kilo Tonnes, USD Billion, 2019-2030)
The market refers to the industry producing, distributing, and selling these compounds. They are thermoplastic materials made from polypropylene resin combined with additives, fillers, reinforcements, and modifiers to enhance their properties and performance characteristics. The market encompasses various applications across various industries, including automotive, construction, packaging, consumer goods, electrical and electronics, healthcare, and industrial sectors. They are utilized in diverse applications such as automotive components, pipes and fittings, packaging materials, household appliances, electrical enclosures, medical devices, and consumer products.
Furthermore, the market represents a dynamic ecosystem of manufacturers, suppliers, and end-users collaborating to meet the diverse needs of a rapidly evolving marketplace. From automotive components to household appliances, from infrastructure development to healthcare solutions, it play a pivotal role in creating lightweight, durable, and sustainable products and infrastructure.
The growth in textile and garment exports from China signifies an expansion of the export market for textile products. The increased demand for textile exports drives the demand for these compounds as key components in the production process. According to the State Council of the People’s Republic of China, total profits of China’s major textile enterprises rose 7.2 percent year on year in 2023. In 2023, these companies generated profits of 180.2 billion yuan (about 25.38 billion U.S. dollars). Textile and garment exports resumed expansion in December 2023, up 2.6 percent yearly to 25.3 billion dollars. Hence, the textile industry’s expansion is propelling the market’s growth.
The China market dominated the Asia Pacific Polypropylene Compounds Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,547.6 million by 2030. The Japan market is registering a CAGR of 7.1% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 8.4% during (2023 - 2030).
Based on Product, the market is segmented into Mineral Filled PP Compounds, Compounded TPO, Compounded TPV, Glass Fiber Reinforced, Talc Filled, and Others. Based on Application, the market is segmented into Film & Sheet, Fiber, Raffia, and Others. Based on End-use, the market is segmented into Automotive, Building & Construction, Textile, Electrical & Electronics, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
- Mitsui Chemicals, Inc.
- Exxon Mobil Corporation
- SABIC (Saudi Arabian Oil Company)
- Trinseo PLC
- Sumitomo Chemical Co., Ltd.
- Borealis AG (OMV)
- LyondellBasell Industries Holdings B.V.
- Avient Corporation
- Washington Penn (Audia Group)
- PTT Public Company Limited (IRPC Public Company Limited)
Market Report Segmentation
By Product (Volume, kilo Tonnes, USD Billion, 2019-2030)- Mineral Filled PP Compounds
- Compounded TPO
- Compounded TPV
- Glass Fiber Reinforced
- Talc Filled
- Others
Application (Volume, kilo Tonnes, USD Billion, 2019-2030)
- Film & Sheet
- Fiber
- Raffia
- Others
- Automotive
- Building & Construction
- Textile
- Electrical & Electronics
- Others
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. Asia Pacific Polypropylene Compounds Market by Product
Chapter 6. Asia Pacific Polypropylene Compounds Market by Application
Chapter 7. Asia Pacific Polypropylene Compounds Market by End-use
Chapter 8. Asia Pacific Polypropylene Compounds Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Mitsui Chemicals, Inc.
- Exxon Mobil Corporation
- SABIC (Saudi Arabian Oil Company)
- Trinseo PLC
- Sumitomo Chemical Co., Ltd.
- Borealis AG (OMV)
- LyondellBasell Industries Holdings B.V.
- Avient Corporation
- Washington Penn (Audia Group)
- PTT Public Company Limited (IRPC Public Company Limited)
Methodology
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