Modified Polypropylene Market Growth Rate, Application, And Trends 2030

Modified Polypropylene Industry Overview

The global modified polypropylene market size is expected to reach USD 56.35 billion by 2030, according to a new report by Grand View Research, Inc. 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 Market Segmentation

Grand View Research has segmented the global modified polypropylene market on the basis of application and region:

Based on the Application Insights, the market is segmented into Automotive, Building & Construction, Packaging, Medical, Electrical & Electronics, Others.

• The automotive application segment dominated the market and accounted for a revenue share of more than 65.0% in 2020. The automotive industry encourages designers and engineers to deliver energy-efficient vehicles due to the declining oil and gas reserves. Moreover, the vehicular weight regulations and standardization of emission norms are anticipated to boost the demand for modified polypropylene in automotive applications. The properties including high impact resistance, abrasive resistance, and good UV resistance augment the demand for modified polypropylene in automotive components.
• Modified polypropylene exhibits softness, high clarity, chemical resistance, and good processability, which is expected to grow the demand for modified polypropylene in packaging applications. Increased health awareness, changing lifestyle, and convenience of consumption have driven the market for packaged food. The emergence of COVID-19 has resulted in the increased importance of packaged foods and medical devices. Modified polypropylene has high bacterial and chemical resistance, making it suitable for medical products.
• Modified polypropylene is used in building and construction applications due to its ability to endure weather conditions. It is used in manufacturing pipes for plumbing in building structures and water barrier membranes for roofing solutions. Growing urbanization in the developing economies, coupled with infrastructure development activities, is expected to fuel the growth of the construction industry, thereby creating a demand for modified polypropylene.

Modified Polypropylene Regional Outlook

• North America
• South America
• West Europe
• East Europe
• China
• Asia Pacific
• Northeast Asia
• Southeast Asia
• Middle East
• Africa

Key Companies Profile & Market Share Insights

The market has been characterized by the presence of key players, along with a few medium and small regional players. Established players such as Borealis AG are developing modified polypropylene suitable in various applications, giving them an edge over their competitors.

Some of the prominent players operating in the global modified polypropylene market include,

• LG Chem
• SABIC
• LyondellBasell Industries Holdings B.V.
• Kingfa Sci. & Tech Co., Ltd.
• PetroChina Company Limited
• PolyPacific
• Arkema
• JIANGYIN EXCEN
• China XD Plastics Co., Ltd.
• Covestro AG

Order a free sample PDF of the Modified Polypropylene Market Intelligence Study, published by Grand View Research.