H1 2023: In H1 2023, Polypropylene Glass Filled Compound fluctuated in the Asia Pacific region. Supply stability persisted, with expensive imports playing a pivotal role in shaping the price trajectory. In February 2023, the product experienced a price surge in the Indian market driven by a seasonal demand upswing, especially in downstream industries, resulting in a bullish market. The product's supply remained consistent, and the influence of costly imports further contributed to the upward price trend. The seasonal period saw a favourable uptick in demand from downstream industries. In the Indian market, prices witnessed a decline in March 2023 in India due to subdued demand, despite India outperforming many major economies. However. in the second quarter of 2023, Polypropylene Glass Filled Compound prices in the Asian market underwent a bearish trend, mainly driven by subdued demand from the downstream automotive industry. During May and June, the price of Polypropylene Glass Filled Compound consistently declined in the Indian market. The diminished demand was primarily ascribed to inflationary pressures and hazy demand outlook. The low price trend in India was owing to diminished demand from downstream sectors like automotive and furniture.
The global Polypropylene Glass Filled Compound market stood at approximately 740 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 4.15% during the forecast period until 2032. Glass-filled PP compound comprises polypropylene homo-polymer infused with high-quality glass, enhanced with additives like antioxidants, lubricants, processing aids, and desiccants to elevate long-term thermal mechanical characteristics and processability. The glass fiber-reinforced PP material in PP Modified Material offers notable advantages like improved stiffness and reduced shrinkage, enhanced impact resistance, increased heat resistance temperature, elevated strength including tensile, compression, and bending strength, and a significant reduction in the burning efficiency of PP plastics. These modifications contribute to the material's overall performance and expand its applications across various industries.
Polypropylene glass-filled compounds are utilized across diverse sectors due to their enhanced mechanical and thermal properties resulting from the integration of glass fibers into the polypropylene matrix. Common applications encompass automotive components such as interior trims, door panels, dashboard components, and structural parts, providing improved strength, stiffness, and impact resistance. In the electrical and electronic industry, these compounds find use in creating connectors, housings, and insulating materials, benefitting from enhanced mechanical strength and electrical insulation properties. Within the consumer goods sector, the compounds contribute to the production of durable and lightweight items, including appliance housings, furniture components, and sporting goods. In industrial equipment manufacturing, polypropylene glass-filled compounds play a role in producing various parts, offering increased strength and resistance to wear for applications like machinery components, housings, and structural elements. Aerospace applications leverage the compounds' lightweight yet robust nature in crafting components such as interior parts, structural elements, and other areas requiring a balance of strength and weight. Medical devices, packaging materials, and various appliance components also benefit from the enhanced mechanical properties offered by polypropylene glass-filled compounds, contributing to prolonged product lifespan.
The Polypropylene Glass-Filled Compounds market is propelled by key drivers contributing to its expansive adoption and growth across industries. The incorporation of glass fibers enhances critical mechanical properties, meeting the increasing demand for materials with superior mechanical characteristics. Automotive industry growth is the major sector, extensively utilizing these compounds for interior components, structural parts, and exterior elements. The ongoing industry trend toward lightweight materials aligns with polypropylene glass-filled compounds, offering an optimal balance of strength and weight. The electrical and electronics sector drives demand through widespread use in connectors, housings, and insulating materials, responding to the growing need for electronic devices. Consumer goods manufacturing sees positive impacts as manufacturers employ glass-filled polypropylene for durable and lightweight products. Simultaneously, industrial equipment and machinery sectors capitalize on the heightened properties of these compounds for diverse components, further elevating demand. The global Polypropylene Glass Filled Compound market is anticipated to reach nearly 1111 thousand tonnes by 2032.
North America emerges as a prominent consumer of Glass-reinforced Polypropylene (PP) driven by pivotal factors. The region's thriving automotive sector, renowned for prioritizing lightweight materials for enhanced efficiency, fuels significant utilization of glass-reinforced PP in automotive components. Concurrently, ongoing infrastructure projects and a robust consumer goods market amplify demand for this material in construction and household applications. Adherence to stringent regulations favoring lightweight and recyclable materials, coupled with sustained innovation and research endeavors, solidify North America's pivotal role as a major consumer in the glass-reinforced PP market.
Based on the end-user industry, the global Polypropylene Glass Filled Compound market is divided into Automotive, Garden Furniture, Artificial Wood, and Others. However, Automotive industry is the major segment and held approximately 55% of the global Polypropylene Glass Filled Compound market in 2022.
Major players in the Global Polypropylene Glass Filled Compound market are Peeco Polytech Pvt. Ltd., Xiamen LFT Composite Plastic Co.,Ltd, MOL Group, Sumika Polymer Compounds, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenaario of Polypropylene Glass Filled Compound which covers production, demand and supply of Polypropylene Glass Filled Compound market in the globe.
• To analyse and forecast the market size of Polypropylene Glass Filled Compound
• To classify and forecast Global Polypropylene Glass Filled Compound market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polypropylene Glass Filled Compound market in the globe.
To extract data for Global Polypropylene Glass Filled Compound market, primary research surveys were conducted with Polypropylene Glass Filled Compound manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polypropylene Glass Filled Compound market over the coming years.
ChemAnalyst calculated Polypropylene Glass Filled Compound demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Polypropylene Glass Filled Compound. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polypropylene Glass Filled Compound manufacturers and other stakeholders
• Organizations, forums and alliances related to Polypropylene Glass Filled Compound distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polypropylene Glass Filled Compound manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polypropylene Glass Filled Compound market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
740 thousand tonnes
Market size Volume in 2032
1111 thousand tonnes
Growth Rate
CAGR of 4.15% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share.
Segments covered
By End-Use: (Automotive, Garden Furniture, Artificial Wood, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Polypropylene Glass Filled Compound market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Polypropylene Glass Filled Compound.
3. Capacity By Location
To better understand the regional supply of Polypropylene Glass Filled Compound by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Polypropylene Glass Filled Compound by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Automotive, Garden Furniture, Artificial Wood, and Others) are creating a market and the forecast for the growth of the Polypropylene Glass Filled Compound market.
7. Demand by Region
Analyzing the change in demand of Polypropylene Glass Filled Compound in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Polypropylene Glass Filled Compound. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Polypropylene Glass Filled Compound.
10. Company Share
Figure out what proportion of the market share of Polypropylene Glass Filled Compound is currently held by leading players across the globe.
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into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Polypropylene Glass Filled Compound in terms of volume in 2022?
Ans:
The global market size of Polypropylene Glass Filled Compound had reached approximately 740 thousand tonnes in 2022.
Q2.
Which industry is the major consumer of Polypropylene Glass Filled Compound?
Ans:
Automotive industry is the leading consumer of Polypropylene Glass Filled Compound globally.
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