North America Polypropylene Compounds Market

Market Introduction

The North American region includes economies such as the US, Canada, and Mexico. North America is one of the major markets for polypropylene compounds. The growth of the market in the region is mainly attributed to the growing demand for polypropylene compounds from various end-use industries. The US has one of the largest automotive marketplaces in the world. Mexico is the largest passenger vehicle manufacturer and the automotive sector in the country is growing. There is a growing use of polypropylene compounds in the automotive industry. Polypropylene compounds have replaced other polymers in various parts and components. The versatility and ease of processing of polypropylene contribute to the growing demand. The polypropylene compounds are used in many automotive applications, including bumper fascias, interior trim, instrument panels, door panels, and many other parts. Thus, the automotive industry's tremendous growth in North America contributes to the development of the polypropylene compounds market in the region. Additionally, polypropylene compounds are used in a wide range of industries such as electrical appliances, building, and construction and furniture components, etc. There is a growing use of polypropylene compounds in the building and construction industry in the region. This is creating demand for polypropylene compounds market. 

North America is one of the worst affected economies due to the COVID-19 pandemic. The US has the highest number of confirmed cases in the region. The unprecedented rise in the number of COVID-19 cases across the US and Canada, and the subsequent lockdown of numerous manufacturing facilities in the countries have negatively influenced the growth of the various markets. The significant disruption in manufacturing due to low workforce availability and disrupted supply chains causing challenges in raw material sourcing have harmed the demand for polypropylene compounds in the region. The pandemic has had a massive impact on the automotive industry in the region. However, the market is reviving on account of the government's significant measures, such as vaccination drives. The North America polypropylene compounds market players are paying close attention to shipping, production, and vaccine-related trends. With economic recovery, several industrial sectors are strategically planning to invest in advanced products to maximize revenue. The building and construction industry is overcoming the challenges of supply chain disruptions of their raw material. The pre-COVID investment plans are likely to be resumed as businesses gain confidence in stabilizing economies and anticipate increased demand. This is expected to provide the impetus for the North America polypropylene compounds market growth.   

North America Polypropylene Compounds Strategic Insights

Strategic insights for the North America 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.

North America Polypropylene Compounds Report Scope

North America Polypropylene Compounds Regional Insights

The geographic scope of the North America 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 North America is expected to grow from US$ 2,669.64 million in 2021 to US$ 3,856.32 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028. The players operating in the region are focusing on providing a proven portfolio of polypropylene solutions for various applications. The increase in demand for polypropylene compounds drives the strategic investments and expansion by key market players. For instance, in 2019, Borealis has announced the inauguration of its new polypropylene compounding plant in North Carolina. The plant is ideally located to meet the growing needs of Original Equipment Manufacturers (OEM) and Tier 1 customers in the region for advanced polypropylene solutions. The first produced compounds in the new facility are those used to make automotive interior and exterior materials approved and listed by major automotive customers. Such development will further boost the growth of the market in the region.    

Key Market Segments

North America polypropylene compounds market is segmented into type, end user and country. Based on type, the North America 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 North America 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 North America polypropylene compounds market in 2020. Based on country, the North America polypropylene compounds market is segmented into US, Canada, and Mexico. US 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 North America 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 North America 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 North America polypropylene compounds market.
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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America polypropylene compounds market.
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America

North America Polypropylene Compounds Market -

By Type

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

North America Polypropylene Compounds Market - By

End User

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

North America Polypropylene Compounds Market - By Country

• US
• Canada
• Mexico

North America Polypropylene Compounds Market - Company Profiles

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