Industry Statistics
Industry Statistics
PP compound is a material made by mixing polypropylene resin with additives, fillers, and reinforcements to improve its strength, rigidity, impact resistance, and thermal stability. These compounds are tailored for various applications and are widely used in the automotive, consumer goods, electrical and electronics, and packaging industries due to their versatility and cost-effectiveness.
The global PP compound market stood at a volume of around 8,324 KT in the year 2023. The market is estimated to grow at a CAGR of 4.0% between 2024 and 2032 to reach a volume of about 11,942.5 KT by 2032. The key factors propelling the PP compound market are increasing automotive production and growing electrical and electronics and consumer electronics sector. The automotive industry is a major consumer of PP compounds and is anticipated to remain the largest market in the forecast period. This growth is driven by rising automotive production and the increasing demand for lightweight, durable materials, prompted by stringent government regulations aimed at enhancing fuel efficiency and reducing greenhouse gas emissions.
The global capacity of PP compound was about 9,615 KT in the year 2023. Asia Pacific holds the major share of PP compound capacities, representing more than 55% of the global production capacity. North America and Europe follow closely behind, together accounting around 35% of the capacity. The plant capacity utilization of PP compound has been increasing continuously post COVID-19. In 2023, the plant utilization increased to 85% from 80% in 2022 due to high demand in Asia Pacific region and rising price level.
LyondellBasell is the world's leading producer of PP compounds and in 2016, the company had completed the acquisition of A. Schulman, Inc to more than double its compounding business during that time. Currently, LyondellBasell has around 30 compounding facilities across the globe. The company holds approximately 14% of the global PP compound capacity. It is followed by Mitsui Chemicals and Kinga, with each of them holding nearly 12% of the overall market share.
Other major manufacturers of PP compound are Borealis AG, Mitsubishi Corporation, Washington Penn, Sumitomo Chemical, GS Caltex, Exxon Mobil, SABIC, Ravago, and IRPC. Combined, these companies represent around 60% of the global capacity.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Key Assumptions
4 Global PP Compound Market Analysis, In Volume (Thousand Tonnes)
4.1 Global PP Compound Historical Market (2018-2023)
4.2 Global PP Compound Market Forecast (2024-2032)
4.3 Global PP Compound Market Supply Analysis, By Polymer Type
4.3.1 Impact Copolymer
4.3.1.1 Company Wise Name Plate Capacity (2018-2032)
4.3.2 Homo Copolymer
4.3.2.1 Company Wise Name Plate Capacity (2018-2032)
4.3.3 Random Copolymer
4.3.3.1 Company Wise Name Plate Capacity (2018-2032)
4.4 Global PP Compound Market Production Analysis, By Polymer Type
4.4.1 Impact Copolymer
4.4.1.1 Production (2018-2032)
4.4.2 Homo Copolymer
4.4.2.1 Production 2018-2032)
4.4.3 Random Copolymer
4.4.3.1 Production (2018-2032)
4.5 Global PP Compound Market Demand Analysis, By Polymer Type
4.5.1 Impact Copolymer
4.5.1.1 Demand Analysis and Forecast (2018-2032)
4.5.2 Homo Copolymer
4.5.2.1 Demand Analysis and Forecast (2018-2032)
4.5.3 Random Copolymer
4.5.3.1 Demand Analysis and Forecast (2018-2032)
4.6 Global PP Compound Market Demand Analysis, by End Use
4.6.1 Automotive
4.6.1.1 Demand Analysis and Forecast (2018-2032)
4.6.2 Appliances
4.6.2.1 Demand Analysis and Forecast (2018-2032)
4.6.3 Consumer Electronics
4.6.3.1 Demand Analysis and Forecast (2018-2032)
4.6.4 Packaging
4.6.4.1 Demand Analysis and Forecast (2018-2032)
4.6.5 Industrial
4.6.5.1 Demand Analysis and Forecast (2018-2032)
4.6.6 Others
4.7 Global PP Compound Market by Region
4.7.1 North America
4.7.1.1 Demand Analysis and Forecast (2018-2032)
4.7.1.2 Market by Polymer Type (2018-2032)
4.7.1.3 Market by End Use (2018-2032)
4.7.2 Europe
4.7.2.1 Demand Analysis and Forecast (2018-2032)
4.7.2.2 Market by Polymer Type (2018-2032)
4.7.2.3 Market by End Use (2018-2032)
4.7.3 Asia Pacific
4.7.3.1 Demand Analysis and Forecast (2018-2032)
4.7.3.2 Market by Polymer Type (2018-2032)
4.7.3.3 Market by End Use (2018-2032)
4.7.4 Latin America
4.7.4.1 Demand Analysis and Forecast (2018-2032)
4.7.4.2 Market by Polymer Type (2018-2032)
4.7.4.3 Market by End Use (2018-2032)
4.7.5 Middle East and Africa
4.7.5.1 Demand Analysis and Forecast (2018-2032)
4.7.5.2 Market by Polymer Type (2018-2032)
4.7.5.3 Market by End Use (2018-2032)
4.8 Global PP Compound Supply Demand Gap, By Region
4.8.1 North America
4.8.1.1 Demand-Supply Gap Analysis and Forecast (2018-2032)
4.8.2 Europe
4.8.2.1 Demand-Supply Gap Analysis and Forecast (2018-2032)
4.8.3 Asia Pacific
4.8.3.1 Demand-Supply Gap Analysis and Forecast (2018-2032)
4.8.4 Latin America
4.8.4.1 Demand-Supply Gap Analysis and Forecast (2018-2032)
4.8.5 Middle East and Africa
4.8.5.1 Demand-Supply Gap Analysis and Forecast (2018-2032)
5 North America PP Compound Market Analysis
5.1 United States of America
5.1.1 Demand Analysis and Forecast (2018-2032)
5.1.2 Demand Supply Gap
5.2 Canada
5.2.1 Demand Analysis and Forecast (2018-2032)
5.2.2 Demand Supply Gap
6 Europe PP Compound Market Analysis
6.1 Germany
6.1.1 Demand Analysis and Forecast (2018-2032)
6.1.2 Demand Supply Gap
6.2 UK
6.2.1 Demand Analysis and Forecast (2018-2032)
6.2.2 Demand Supply Gap
6.3 France
6.3.1 Demand Analysis and Forecast (2018-2032)
6.3.2 Demand Supply Gap
6.4 Italy
6.4.1 Demand Analysis and Forecast (2018-2032)
6.4.2 Demand Supply Gap
6.5 Spain
6.5.1 Demand Analysis and Forecast (2018-2032)
6.5.2 Demand Supply Gap
6.6 Others
7 Asia Pacific PP Compound Market Analysis
7.1 China
7.1.1 Demand Analysis and Forecast (2018-2032)
7.1.2 Demand Supply Gap
7.2 Japan
7.2.1 Demand Analysis and Forecast (2018-2032)
7.2.2 Demand Supply Gap
7.3 India
7.3.1 Demand Analysis and Forecast (2018-2032)
7.3.2 Demand Supply Gap
7.4 South Korea
7.4.1 Demand Analysis and Forecast (2018-2032)
7.4.2 Demand Supply Gap
7.5 ASEAN
7.5.1 Demand Analysis and Forecast (2018-2032)
7.5.2 Demand Supply Gap
7.6 Australia
7.6.1 Demand Analysis and Forecast (2018-2032)
7.6.2 Demand Supply Gap
7.7 Others
8 Latin America PP Compound Market Analysis
8.1 Brazil
8.1.1 Demand Analysis and Forecast (2018-2032)
8.1.2 Demand Supply Gap
8.2 Argentina
8.2.1 Demand Analysis and Forecast (2018-2032)
8.2.2 Demand Supply Gap
8.3 Mexico
8.3.1 Demand Analysis and Forecast (2018-2032)
8.3.2 Demand Supply Gap
8.4 Others
9 Middle East and Africa PP Compound Market Analysis
9.1 Saudi Arabia
9.1.1 Demand Analysis and Forecast (2018-2032)
9.1.2 Demand Supply Gap
9.2 United Arab Emirates
9.2.1 Demand Analysis and Forecast (2018-2032)
9.2.2 Demand Supply Gap
9.3 Nigeria
9.3.1 Demand Analysis and Forecast (2018-2032)
9.3.2 Demand Supply Gap
9.4 South Africa
9.4.1 Demand Analysis and Forecast (2018-2032)
9.4.2 Demand Supply Gap
9.5 Others
10 Growth Opportunities and Strategic Analysis
10.1 Supply Chain Analysis and Its Component
10.2 Capacity Expansions, Plant Shutdowns, Force Majeure Events, and Plant Closures in the Last One Year and the Last one Quarter
10.3 Capacity Expansions, Plant Shutdowns, Force Majeure Events, and Plant Closures in Next One Year and the Next one
10.4 Impact Analysis in Price and Demand after Force Majeure Events, and Plant Closures
10.5 Environmental Considerations and Government Regulations
10.6 Technology Innovation and Its Impact on Production and Application
10.7 Challenges and Opportunities Faced by Existing Manufacturers
10.8 Potential Risks and Barriers to Entry for New Players
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 LyondellBasell Industries N.V.
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio and Major Grades
11.2.1.3 Capacity by Location
11.2.1.4 Expansion Plan
11.2.1.5 Major Consumers
11.2.1.6 Revenue from POI
11.2.1.7 Technological Innovation and Sustainability
11.2.2 Mitsui Chemicals Inc.
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio and Major Grades
11.2.2.3 Capacity by Location
11.2.2.4 Expansion Plan
11.2.2.5 Major Consumers
11.2.2.6 Revenue from POI
11.2.2.7 Technological Innovation and Sustainability
11.2.3 Kingfa Science & Technology Co., Ltd.
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio and Major Grades
11.2.3.3 Capacity by Location
11.2.3.4 Expansion Plan
11.2.3.5 Major Consumers
11.2.3.6 Revenue from POI
11.2.3.7 Technological Innovation and Sustainability
11.2.4 Mitsubishi Corporation
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio and Major Grades
11.2.4.3 Capacity by Location
11.2.4.4 Expansion Plan
11.2.4.5 Major Consumers
11.2.4.6 Revenue from POI
11.2.4.7 Technological Innovation and Sustainability
11.2.5 Borealis AG
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio and Major Grades
11.2.5.3 Capacity by Location
11.2.5.4 Expansion Plan
11.2.5.5 Major Consumers
11.2.5.6 Revenue from POI
11.2.5.7 Technological Innovation and Sustainability
11.2.6 Washington Penn Inc.
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio and Major Grades
11.2.6.3 Capacity by Location
11.2.6.4 Expansion Plan
11.2.6.5 Major Consumers
11.2.6.6 Revenue from POI
11.2.6.7 Technological Innovation and Sustainability
11.2.7 Sumitomo Chemical Co., Ltd.
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio and Major Grades
11.2.7.3 Capacity by Location
11.2.7.4 Expansion Plan
11.2.7.5 Major Consumers
11.2.7.6 Revenue from POI
11.2.7.7 Technological Innovation and Sustainability
11.2.8 GS Caltex Corporation
11.2.8.1 Company Overview
11.2.8.2 Product Portfolio and Major Grades
11.2.8.3 Capacity by Location
11.2.8.4 Expansion Plan
11.2.8.5 Major Consumers
11.2.8.6 Revenue from POI
11.2.8.7 Technological Innovation and Sustainability
11.2.9 Ravago
11.2.9.1 Company Overview
11.2.9.2 Product Portfolio and Major Grades
11.2.9.3 Capacity by Location
11.2.9.4 Expansion Plan
11.2.9.5 Major Consumers
11.2.9.6 Revenue from POI
11.2.9.7 Technological Innovation and Sustainability
11.2.10 ExxonMobil Corporation
11.2.10.1 Company Overview
11.2.10.2 Product Portfolio and Major Grades
11.2.10.3 Capacity by Location
11.2.10.4 Expansion Plan
11.2.10.5 Major Consumers
11.2.10.6 Revenue from POI
11.2.10.7 Technological Innovation and Sustainability
11.2.11 SABIC
11.2.11.1 Company Overview
11.2.11.2 Product Portfolio and Major Grades
11.2.11.3 Capacity by Location
11.2.11.4 Expansion Plan
11.2.11.5 Major Consumers
11.2.11.6 Revenue from POI
11.2.11.7 Technological Innovation and Sustainability
11.2.12 IRPC PCL
11.2.12.1 Company Overview
11.2.12.2 Product Portfolio and Major Grades
11.2.12.3 Capacity by Location
11.2.12.4 Expansion Plan
11.2.12.5 Major Consumers
11.2.12.6 Revenue from POI
11.2.12.7 Technological Innovation and Sustainability
11.2.13 Lapo Compound
11.2.13.1 Company Overview
11.2.13.2 Product Portfolio and Major Grades
11.2.13.3 Capacity by Location
11.2.13.4 Expansion Plan
11.2.13.5 Major Consumers
11.2.13.6 Revenue from POI
11.2.13.7 Technological Innovation and Sustainability
11.2.14 MOL Group
11.2.14.1 Company Overview
11.2.14.2 Product Portfolio and Major Grades
11.2.14.3 Capacity by Location
11.2.14.4 Expansion Plan
11.2.14.5 Major Consumers
11.2.14.6 Revenue from POI
11.2.14.7 Technological Innovation and Sustainability
11.2.15 Repsol S.A.
11.2.15.1 Company Overview
11.2.15.2 Product Portfolio and Major Grades
11.2.15.3 Capacity by Location
11.2.15.4 Expansion Plan
11.2.15.5 Major Consumers
11.2.15.6 Revenue from POI
11.2.15.7 Technological Innovation and Sustainability
11.2.16 Tasnee
11.2.16.1 Company Overview
11.2.16.2 Product Portfolio and Major Grades
11.2.16.3 Capacity by Location
11.2.16.4 Expansion Plan
11.2.16.5 Major Consumers
11.2.16.6 Revenue from POI
11.2.16.7 Technological Innovation and Sustainability
12 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global PP Compound Market: Key Industry Highlights, 2018 and 2032
2. Global PP Compound Market Supply Analysis: Breakup by Polymer Type (Thousand Tonnes), 2018-2032
3. Global PP Compound Market Production Analysis: Breakup by Polymer Type (Thousand Tonnes), 2018-2032
4. Global PP Compound Market Demand Analysis: Breakup by Polymer Type (Thousand Tonnes), 2018-2032
5. Global PP Compound Market Demand Analysis: Breakup by End Use (Thousand Tonnes), 2018-2032
6. Global PP Compound Market Demand Analysis: Breakup by Region (Thousand Tonnes), 2018-2032
7. Global PP Compound Market Supply Demand Gap: Breakup by Region (Thousand Tonnes), 2018-2032
8. North America PP Compound Market Demand Analysis: Breakup by Polymer Type (Thousand Tonnes), 2018-2032
9. North America PP Compound Market Demand Analysis: Breakup by End Use (Thousand Tonnes), 2018-2032
10. North America PP Compound Market Supply Demand Gap: Breakup by Country (Thousand Tonnes), 2018-2032
11. North America PP Compound Market Demand Analysis: Breakup by Country (Thousand Tonnes), 2018-2032
12. Europe PP Compound Market Demand Analysis: Breakup by Polymer Type (Thousand Tonnes), 2018-2032
13. Europe PP Compound Market Demand Analysis: Breakup by End Use (Thousand Tonnes), 2018-2032
14. Europe PP Compound Market Demand Analysis: Breakup by Country (Thousand Tonnes), 2018-2032
15. Europe PP Compound Market Supply Demand Gap: Breakup by Country (Thousand Tonnes), 2018-2032
16. Asia Pacific PP Compound Market Demand Analysis: Breakup by Polymer Type (Thousand Tonnes), 2018-2032
17. Asia Pacific PP Compound Market Demand Analysis: Breakup by End Use (Thousand Tonnes), 2018-2032
18. Asia Pacific PP Compound Market Demand Analysis: Breakup by Country (Thousand Tonnes), 2018-2032
19. Asia Pacific PP Compound Market Supply Demand Gap: Breakup by Country (Thousand Tonnes), 2018-2032
20. Latin America PP Compound Market Demand Analysis: Breakup by Polymer Type (Thousand Tonnes), 2018-2032
21. Latin America PP Compound Market Demand Analysis: Breakup by End Use (Thousand Tonnes), 2018-2032
22. Latin America PP Compound Market Demand Analysis: Breakup by Country (Thousand Tonnes), 2018-2032
23. Latin America PP Compound Market Supply Demand Gap: Breakup by Country (Thousand Tonnes), 2018-2032
24. Middle East and Africa PP Compound Market Demand Analysis: Breakup by Polymer Type (Thousand Tonnes), 2018-2032
25. Middle East and Africa PP Compound Market Demand Analysis: Breakup by End Use (Thousand Tonnes), 2018-2032
26. Middle East and Africa PP Compound Market Demand Analysis: Breakup by Country (Thousand Tonnes), 2018-2032
27. Middle East and Africa PP Compound Market Supply Demand Gap: Breakup by Country (Thousand Tonnes), 2018-2032
28. Global PP Compound Market Structure
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