Asia Pacific Polypropylene Compounds Market

Market Introduction

The APAC region comprises countries such as Australia, China, India, Japan, South Korea, and other Asian countries. The growing demand for polypropylene compounds from various end-use industries has contributed to the growth of the market in the region. The APAC region provides significant growth opportunities for the polypropylene compounds market. China is a major market for polypropylene compounds in the region. There is increasing use of polypropylene compounds in the automotive sector. Polypropylene compounds are used in vehicles to increase fuel efficiency. The use of polypropylene compounds in vehicles significantly contributes to the ability of automotive manufacturers to meet stringent environmental standards for car interiors. The packaging industry in the APAC region is growing rapidly. The packaging industry has become an important part of the manufacturing industry in the region. Polypropylene is used in packaging for consumer products, cleaning products, etc. Moreover, the APAC polypropylene compounds market is predicted to be led by the expansion of the construction industry and electrical and electronic sectors in countries such as China, and many others.  

The COVID-19 pandemic has been causing a significant economic loss in APAC. The governments of various APAC economies are taking possible steps to restrict the spread of the virus by announcing a country-wide lockdown, which directly impacts the growth of their industrial sectors. This may affect the demand for polypropylene compounds. Various end-use industries, such as automotive, packaging, and construction have been hit hard by the pandemic, impacting the consumption of polypropylene compounds in the region. There is a systemic shift in consumer purchasing preferences from offline to online. Consumer preferences towards e-commerce and e-retailing are growing. With the steep growth of e-commerce and e-retailing, transit and omnichannel packaging is emerging as the most potential segments. The demand for packaging for groceries, healthcare products, and e-commerce transportation has increased significantly during the pandemic. At the same, the demand for industrial, luxury, and sections of B2B-transport packaging has declined. In India, the construction industry is one of the largest employers of the workforce. The COVID crisis has affected 8.5 million jobs in this sector. Like most industries, the automotive market has also been affected by the COVID-19 pandemic. Many automakers had to close production plants for safety measures. However, the construction sector is overcoming the challenges of labor shortage and disruptions of raw material supply chains. Also, the demand for electric motorcycles is on rise. The market is expected to witness an increase in investment by players to tap the prevailing opportunities and cater to expanding demand for polypropylene compounds in post-pandemic times.

Asia Pacific Polypropylene Compounds Strategic Insights

Strategic insights for the Asia Pacific Polypropylene Compounds provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Polypropylene Compounds Report Scope

Asia Pacific Polypropylene Compounds Regional Insights

The geographic scope of the Asia Pacific Polypropylene Compounds refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The polypropylene compounds market in APAC is expected to grow from US$ 9,486.67 million in 2021 to US$ 13,813.96 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028. The players operating in the polypropylene compounds market in the region continue to expand production capacities and research and development of high-performance polypropylene compounds to address rapidly expanding needs in the APAC region. In September 2017, LyondellBasell has started production at a new polypropylene compounding plant in Dalian, China. The company's facility in China is strategically located to serve the region's growing automotive market. The additional capacity will allow the company’s further expansion into the strategically important North China region which is home to many major automobile manufacturers including BMW, Volkswagen, Audi, Nissan, etc. Moreover, in 2019, Mitsui Chemicals, Inc. has decided to expand its polypropylene compound production capacity in Thailand to meet the growing APAC demand for polypropylene compounds. This increase in capacity will strengthen the Mitsui Chemical Group’s supply capabilities in the growing Asian market. Thus, the growing efforts from the manufacturers, along with an increase in demand from industries such as automotive, electronic, packaging, and other industries, will drive the polypropylene compounds market in the APAC region.      

Key Market Segments

APAC polypropylene compounds market is segmented into type, end user and country. Based on type, the APAC polypropylene compounds market is segmented into mineral filled PP compounds, compounded TPO, compounded TPV, glass reinforced, and others. The mineral filled PP compounds segment held the largest share of the market in 2020. Based on end user, the APAC polypropylene compounds market is divided into automotive, electricals and electronics, packaging, building and construction, textiles, and others. The automotive segment held the largest share of the polypropylene compounds market in 2020. Based on country, the APAC polypropylene compounds market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China held the largest market share in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the polypropylene compounds market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Borealis AG; Exxon Mobil Corporation; LyondellBasell Industries Holdings B.V.; SABIC; Sumitomo Chemical Co., Ltd; Total; and Trinseo.        

Reasons to buy report

• To understand the APAC polypropylene compounds market landscape and identify market segments that are most likely to guarantee a strong return.
• Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC polypropylene compounds market.
• Efficiently plan M&A and partnership deals in APAC polypropylene compounds market by identifying market segments with the most promising probable sales.
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC polypropylene compounds market.
• Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.

APAC

APAC Polypropylene Compounds Market -

By Type

• Mineral Filled PP Compounds
• Compounded TPO
• Compounded TPV
• Glass Reinforced
• Others

APAC Polypropylene Compounds Market - By

End User

• Automotive
• Electricals and Electronics
• Packaging
• Building and Construction
• Textiles
• Others

APAC Polypropylene Compounds Market - By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

APAC Polypropylene Compounds Market - Company Profiles

• Borealis AG
• Exxon Mobil Corporation
• LyondellBasell Industries Holdings B.V.
• SABIC
• Sumitomo Chemical Co., Ltd
• Total
• Trinseo