Global Polypropylene Compounds Market Growth Accelerated by Increasing Use in Automotive Components
Polypropylene Compounds Market |
Polypropylene compounds are a type of thermoplastic material that is formed by mixing polypropylene resin with various additives, fillers, and reinforcements to enhance its properties. Polypropylene compounds are inexpensive, lightweight, and chemically resistant. They find widespread application in automotive components like bumpers, interior trims, and instrument panels owing to their ability to withstand high impact without breakage.
The global
Polypropylene Compounds Market is estimated to be valued at US$ 35.2 billion in
2024 and is expected to exhibit a CAGR of 3.6% over the forecast period
2024-2031, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The growing automotive industry, especially in Asia
Pacific region is fueling the demand for polypropylene compounds. Polypropylene
compounds are extremely popular in automotive applications due to properties
like high impact resistance, lightweight, and excellent chemical resistance.
These properties help in enhancing the fuel efficiency of vehicles. Moreover,
stringent rules regarding vehicular emission are encouraging automakers to
reduce vehicle weight, thereby driving the adoption of polypropylene compounds
in various automotive components.
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