The global modified polypropylene market size is expected to reach USD 56.35 billion by 2030. It is expected to expand at a CAGR of 5.5% from 2021 to 2030. The market is anticipated to grow due to the use of modified polypropylene in the automotive, electrical and electronics, packaging, building and construction, and medical industry across the globe. In modified polypropylene, the processing of polypropylene is done by adding glass fibers and thermoplastic rubbers to improve its impact resistance, flame retardancy, and other properties, thus expanding its scope of application in the above-mentioned industries.
Modified polypropylene exhibits superior flowability, high UV resistance, impact resistance chemical resistance, and negligible water absorption, which makes it suitable to be used in the manufacturing of front and rear-end bumpers, protective side strips, and mud guards.
The rising income of the population and improvements in the standard of living are driving the interior designing market and are influencing interior designers and furniture manufacturers to introduce new designs in the market. Moreover, the investments in the construction of smart cities, airports, and commercial buildings by governments across the globe are driving the demand for smart planning and technology integrated interior design services, which is anticipated to drive the market for modified polypropylene in furniture designing.
The construction industry in the developing countries, including Kenya and Nigeria, in the African continent, has witnessed growth in recent years due to the sizable refugee population and infrastructure development. In addition, the easing of geopolitical tensions in the country is a major factor for reconstruction, in turn, boosting the growth of the construction industry in the region. The growth in the construction industry is expected to boost the demand for modified polypropylene over the coming years.
Key players are carrying out strategic initiatives such as mergers and acquisitions to strengthen their position in the market. For instance, in June 2021, LyondellBasell Industries Holdings B.V. completed the acquisition of PolyPacific Polymers Sdn. Bhd. (PPM) in Port Klang, Malaysia. This acquisition is expected to bring a 25kt manufacturing facility producing reinforced and modified polyolefin compounds under the control of LyondellBasell Industries Holdings B.V. and strengthen its position in the market in the Asia Pacific region.
Modified polypropylene exhibits superior flowability, high UV resistance, impact resistance chemical resistance, and negligible water absorption, which makes it suitable to be used in the manufacturing of front and rear-end bumpers, protective side strips, and mud guards.
The rising income of the population and improvements in the standard of living are driving the interior designing market and are influencing interior designers and furniture manufacturers to introduce new designs in the market. Moreover, the investments in the construction of smart cities, airports, and commercial buildings by governments across the globe are driving the demand for smart planning and technology integrated interior design services, which is anticipated to drive the market for modified polypropylene in furniture designing.
The construction industry in the developing countries, including Kenya and Nigeria, in the African continent, has witnessed growth in recent years due to the sizable refugee population and infrastructure development. In addition, the easing of geopolitical tensions in the country is a major factor for reconstruction, in turn, boosting the growth of the construction industry in the region. The growth in the construction industry is expected to boost the demand for modified polypropylene over the coming years.
Key players are carrying out strategic initiatives such as mergers and acquisitions to strengthen their position in the market. For instance, in June 2021, LyondellBasell Industries Holdings B.V. completed the acquisition of PolyPacific Polymers Sdn. Bhd. (PPM) in Port Klang, Malaysia. This acquisition is expected to bring a 25kt manufacturing facility producing reinforced and modified polyolefin compounds under the control of LyondellBasell Industries Holdings B.V. and strengthen its position in the market in the Asia Pacific region.
Modified Polypropylene Market Report Highlights
- The medical application segment is expected to register the highest CAGR of 6.6% over the forecast period in terms of revenue. This is attributed to the high bacterial and chemical resistance exhibited by modified polypropylene, making it suitable for medical applications
- The automotive application segment dominated the market and accounted for over 65.0% share of the overall revenue in 2020. This is attributed to the growing demand for modified polypropylene from the automotive industry due to its superior properties, thereby making it an alternative to metal alloys and improving the vehicle performance
- The packaging application segment is expected to grow in the years to come owing to the increased demand for modified polypropylene for the packaging of food products
- China led the market and accounted for over 20.0% share of the overall revenue in 2020. Major electrical OEMs have set up manufacturing facilities in China, which is anticipated to increase the demand for modified polypropylene
Table of Contents
Chapter 1. Methodology and Scope1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 The Publisher's Internal Database
1.3.3 Secondary Sources
1.3.4 Third-Party Perspective
1.3.5 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation and Data Visualization
1.6 Data Validation and Publishing
1.7 List of Abbreviations
Chapter 2. Executive Summary
2.1 Market Summary
2.2 Segmental Outlook
Chapter 3. Modified Polypropylene Market -Variables, Trends, and Scope
3.1 Market Lineage Outlook
3.1.1 Global Plastics Market Outlook
3.2 Industry Value Chain Analysis
3.2.1 Raw Material Trends
3.2.2 Distribution Channel Analysis
3.3 Penetration & Growth Prospect Mapping
3.4 Regulatory Framework
3.5 Standard & Compliances
3.6 Safety
3.7 Market Dynamics
3.7.1 Market Driver Analysis
3.7.1.1 Growing Demand from the Automotive Industry
3.7.1.2 Increasing Demand from the Packaging Industry
3.7.2 Market Restraint Analysis
3.7.2.1 Stringent Rules & Regulations
3.7.3 Market Challenge Analysis
3.7.3.1 Fluctuating Raw Material Prices
3.7.4 Market Opportunity Analysis
3.8 Business Environment Analysis: Modified Polypropylene Market
3.8.1 Porter's Five Forces Analysis
3.8.2 PESTEL Analysis
Chapter 4. Modified Polypropylene Market: Application Estimates & Analysis
4.1 Modified Polypropylene Market: Application Movement Analysis, 2020 & 2030
4.2 Automotive
4.2.1 Modified Polypropylene Market Estimates and Forecasts, in Automotive, 2017 - 2030 (Kilotons) (USD Million)
4.3 Building & Construction
4.3.1 Modified Polypropylene Market Estimates and Forecasts, in Building & Construction, 2017 - 2030 (Kilotons) (USD Million)
4.4 Packaging
4.4.1 Modified Polypropylene Market Estimates and Forecasts, in Packaging, 2017 - 2030 (Kilotons) (USD Million)
4.5 Medical
4.5.1 Modified Polypropylene Market Estimates and Forecasts, in Medical, 2017 - 2030 (Kilotons) (USD Million)
4.6 Electrical & Electronics
4.6.1 Modified Polypropylene Market Estimates and Forecasts, in Electrical & Electronics, 2017 - 2030 (Kilotons) (USD Million)
4.7 Others
4.7.1 Modified Polypropylene Market Estimates and Forecasts, in Others, 2017 - 2030 (Kilotons) (USD Million)
Chapter 5. Modified Polypropylene Market: Regional Estimates & Trend Analysis
5.1 Modified Polypropylene Market: Regional Movement Analysis, 2020 & 2030
5.2 North America
5.2.1 North America Modified Polypropylene Market Estimates and Forecast, 2017 - 2030 (Kilotons) (USD Million)
5.2.2 North America Modified Polypropylene Market Estimates and Forecast, by Application, 2017 - 2030 (Kilotons) (USD Million)
5.3 South America
5.3.1 South America Modified Polypropylene Market Estimates and Forecast, 2017 - 2030 (Kilotons) (USD Million)
5.3.2 South America Modified Polypropylene Market Estimates and Forecast, by Application, 2017 - 2030 (Kilotons) (USD Million)
5.4 West Europe
5.4.1 West Europe Modified Polypropylene Market Estimates and Forecast, 2017 - 2030 (Kilotons) (USD Million)
5.4.2 West Europe Modified Polypropylene Market Estimates and Forecast, by Application, 2017 - 2030 (Kilotons) (USD Million)
5.5 East Europe
5.5.1 East Europe Modified Polypropylene Market Estimates and Forecast, 2017 - 2030 (Kilotons) (USD Million)
5.5.2 East Europe Polypropylene Market Estimates and Forecast, by Application, 2017 - 2030 (Kilotons) (USD Million)
5.6 China
5.6.1 China Modified Polypropylene Market Estimates and Forecast, 2017 - 2030 (Kilotons) (USD Million)
5.6.2 China Modified Polypropylene Market Estimates and Forecast, by Application, 2017 - 2030 (Kilotons) (USD Million)
5.7 Asia-Pacific
5.7.1 Asia-Pacific Modified Polypropylene Market Estimates and Forecast, 2017 - 2030 (Kilotons) (USD Million)
5.7.2 Asia-Pacific Polypropylene Market Estimates and Forecast, by Application, 2017 - 2030 (Kilotons) (USD Million)
5.8 Northeast Asia
5.8.1 Northeast Asia Modified Polypropylene Market Estimates and Forecast, 2017 - 2030 (Kilotons) (USD Million)
5.8.2 Northeast Asia Polypropylene Market Estimates and Forecast, by Application, 2017 - 2030 (Kilotons) (USD Million)
5.9 Southeast Asia
5.9.1 Southeast Asia Modified Polypropylene Market Estimates and Forecast, 2017 - 2030 (Kilotons) (USD Million)
5.9.2 Southeast Asia Polypropylene Market Estimates and Forecast, by Application, 2017 - 2030 (Kilotons) (USD Million)
5.10 Middle East
5.10.1 Middle East Modified Polypropylene Market Estimates and Forecast, 2017 - 2030 (Kilotons) (USD Million)
5.10.2 Middle East Polypropylene Market Estimates and Forecast, by Application, 2017 - 2030 (Kilotons) (USD Million)
5.11 Africa
5.11.1 Africa Modified Polypropylene Market Estimates and Forecast, 2017 - 2030 (Kilotons) (USD Million)
5.11.2 Africa Polypropylene Market Estimates and Forecast, by Application, 2017 - 2030 (Kilotons) (USD Million)
Chapter 6. Competitive Analysis
6.1 Key Players & Recent Developments & Their Impact on the Industry
6.2 Key Company/Competition Categorization
6.3 Vendor Landscape
6.3.1 List of Key Distributors & Channel Partners
6.3.2 List of Potential Customers
6.4 Public Companies
6.4.1 Competitive Dashboard Analysis
6.5 Private Companies
6.5.1 List of Key Emerging Companies/Technology Disruptors/Innovators and Their Geographical Presence
6.6 Production Capacities of Major Manufacturers (2019)
6.7 Production Capacities of Expansion of Major Manufacturers (Up to 2030)
Chapter 7. Company Profiles
7.1 Lg Chem
7.1.1 Company Overview
7.1.2 Financial Performance
7.1.3 Product Benchmarking
7.2 Lyondellbasell Industries Holdings B.V.
7.2.1 Company Overview
7.2.2 Financial Performance
7.2.3 Product Benchmarking
7.3 Sabic
7.3.1 Company Overview
7.3.2 Financial Performance
7.3.3 Product Benchmarking
7.4 Kingfa Sci. & Tech. Co., Ltd.
7.4.1 Company Overview
7.4.2 Product Benchmarking
7.5 Petrochina Company Limited
7.5.1 Company Overview
7.5.2 Financial Performance
7.5.3 Product Benchmarking
7.6 Polypacific
7.6.1 Company Overview
7.6.2 Product Benchmarking
7.7 Arkema
7.7.1 Company Overview
7.7.2 Financial Performance
7.7.3 Product Benchmarking
7.8 Jiangyin Excen (Cgn Advanced Materials Group)
7.8.1 Company Overview
7.8.2 Product Benchmarking
7.9 China Xd Plastics Company Limited
7.9.1 Company Overview
7.9.2 Financial Performance
7.9.3 Product Benchmarking
7.10 Covestro Ag
7.10.1 Company Overview
7.10.2 Financial Performance
7.10.3 Product Benchmarking
List of Tables
Table 1 List of Abbreviations
Table 2 Modified polypropylene market estimates and forecasts, in automotive, 2017 - 2030 (Kilotons) (USD Million)
Table 3 Modified polypropylene market estimates and forecasts, in building & construction, 2017 - 2030 (Kilotons) (USD Million)
Table 4 Modified polypropylene market estimates and forecasts, in packaging, 2017 - 2030 (Kilotons) (USD Million)
Table 5 Modified polypropylene market estimates and forecasts, in medical, 2017 - 2030 (Kilotons) (USD Million)
Table 6 Modified polypropylene market estimates and forecasts, in electrical & electronics, 2017 - 2030 (Kilotons) (USD Million)
Table 7 Modified polypropylene market estimates and forecasts, in others, 2017 - 2030 (Kilotons) (USD Million)
Table 8 North America modified polypropylene market estimates and forecast, 2017 - 2030 (Kilotons) (USD Million)
Table 9 North America modified polypropylene market estimates and forecast, by application, 2017 - 2030 (Kilotons)
Table 10 North America modified polypropylene market estimates and forecast, by application, 2017 - 2030 (USD Million)
Table 11 South America modified polypropylene market estimates and forecast, 2017 - 2030 (Kilotons) (USD Million)
Table 12 South America modified polypropylene market estimates and forecast, by application, 2017 - 2030 (Kilotons)
Table 13 South America modified polypropylene market estimates and forecast, by application, 2017 - 2030 (USD Million)
Table 14 West Europe modified polypropylene market estimates and forecast, 2017 - 2030 (Kilotons) (USD Million)
Table 15 West Europe modified polypropylene market estimates and forecast, by application, 2017 - 2030 (Kilotons)
Table 16 West Europe modified polypropylene market estimates and forecast, by application, 2017 - 2030 (USD Million)
Table 17 East Europe modified polypropylene market estimates and forecast, 2017 - 2030 (Kilotons) (USD Million)
Table 18 East Europe modified polypropylene market estimates and forecast, by application, 2017 - 2030 (Kilotons)
Table 19 East Europe modified polypropylene market estimates and forecast, by application, 2017 - 2030 (USD Million)
Table 20 China modified polypropylene market estimates and forecast, 2017 - 2030 (Kilotons) (USD Million)
Table 21 China modified polypropylene market estimates and forecast, by application, 2017 - 2030 (Kilotons)
Table 22 China modified polypropylene market estimates and forecast, by application, 2017 - 2030 (USD Million)
Table 23 Asia Pacific modified polypropylene market estimates and forecast, 2017 - 2030 (Kilotons) (USD Million)
Table 24 Asia Pacific modified polypropylene market estimates and forecast, by application, 2017 - 2030 (Kilotons)
Table 25 Asia Pacific modified polypropylene market estimates and forecast, by application, 2017 - 2030 (USD Million)
Table 26 Northeast Asia modified polypropylene market estimates and forecast, 2017 - 2030 (Kilotons) (USD Million)
Table 27 Northeast Asia modified polypropylene market estimates and forecast, by application, 2017 - 2030 (Kilotons)
Table 28 Northeast Asia modified polypropylene market estimates and forecast, by application, 2017 - 2030 (USD Million)
Table 29 Southeast Asia modified polypropylene market estimates and forecast, 2017 - 2030 (Kilotons) (USD Million)
Table 30 Southeast Asia modified polypropylene market estimates and forecast, by application, 2017 - 2030 (Kilotons)
Table 31 Southeast Asia modified polypropylene market estimates and forecast, by application, 2017 - 2030 (USD Million)
Table 32 Middle East modified polypropylene market estimates and forecast, 2017 - 2030 (Kilotons) (USD Million)
Table 33 Middle East modified polypropylene market estimates and forecast, by application, 2017 - 2030 (Kilotons)
Table 34 Middle East modified polypropylene market estimates and forecast, by application, 2017 - 2030 (USD Million)
Table 35 Africa modified polypropylene market estimates and forecast, 2017 - 2030 (Kilotons) (USD Million)
Table 36 Africa modified polypropylene market estimates and forecast, by application, 2017 - 2030 (Kilotons)
Table 37 Africa modified polypropylene market estimates and forecast, by application, 2017 - 2030 (USD Million)List of Figures
Fig. 1 Information procurement
Fig. 2 Primary research pattern
Fig. 3 Primary Research Process
Fig. 4 Market research approaches - Bottom-Up Approach
Fig. 5 Market research approaches - Top-Down Approach
Fig. 6 Market research approaches - Combined Approach
Fig. 7 Modified Polypropylene Market Snapshot, 2020 (USD Million)
Fig. 8 Modified Polypropylene Market Segmentation
Fig. 9 Global Modified polypropylene market: Value chain analysis
Fig. 10 Penetration & Growth Prospect Mapping
Fig. 11 West Texas Intermediate (WTI) Crude Oil Prices, 2010 to 2020 (USD/Barrel)
Fig. 12 Porter’s Five Forces Analysis: Modified Polypropylene Market
Fig. 13 PESTEL Analysis: Modified Polypropylene Market
Fig. 14 Modified polypropylene market: Application movement analysis, 2020 & 2030
Fig. 15 Modified polypropylene market: Regional movement analysis, 2020 & 2030
Fig. 16 Competitive Dashboard Analysis
Companies Mentioned
- Arkema
- China Xd Plastics Company Limited
- Covestro Ag
- Jiangyin Excen (Cgn Advanced Materials Group)
- Kingfa Sci. & Tech. Co., Ltd.
- Lg Chem
- Lyondellbasell Industries Holdings B.V.
- Petrochina Company Limited
- Polypacific
- Sabic
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 74 |
| Published | November 2021 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value ( USD | $ 34.74 Billion |
| Forecasted Market Value ( USD | $ 56.35 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
