MEA Polypropylene Compounds Market Size, Share, Growth Analysis, By Product(Mineral Filled PP Compounds, Compounded TPO, Compounded TPV, Glass Reinforced), By Application(Automotive, Building & Construction, Electrical & Electronics, Textiles), By Country(GCC Countries, Saudi Arabia, UAE, Qatar) - Industry Forecast 2024-2031

The market for MEA Polypropylene Compounds was estimated to be valued at US$ XX Mn in 2021.

The MEA Polypropylene Compounds Market is estimated to grow at a CAGR of XX% by 2028.

The MEA Polypropylene Compounds Market is segmented on the basis of Product, Application, Country.

Based on region, the MEA Polypropylene Compounds Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the MEA Polypropylene Compounds Market are sights , The MEA polypropylene compounds market size was valued at USD 1.31 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2020 to 2027. Increasing demand for lightweight material from the automotive and electrical and electronics industries is expected to fuel the growth of the market over the forecast period. Polypropylene (PP) compounds are lightweight materials and have a broad range of superior properties, such as resistance to several chemical solvents, acids, and bases, high tensile strength, staining resistance, and low moisture resistance. Owing to their excellent chemical and mechanical properties, they are extensively used in manufacturing automotive components, electrical and electronics equipment, and pipe among various others. , The Middle East automotive industry has been witnessing a significant change over the years and there is an increasing trend towards the reduction of automobile weight in order to improve fuel efficiency. Therefore, the demand for the polypropylene compound has been increased in recent years. , Polypropylene compounds help to improve the fuel economy of vehicles and reduce the overall raw material costs. In addition, the high flexibility of the product has led to the creation of innovative designs, which enhances passenger safety and comfort. These factors are responsible for driving the demand for PP compounds. , Application Insights , The automotive segment led the market and accounted for more than 50.0% share of the overall revenue in 2019. The growing demand for lightweight and high-performance materials in the automotive industry is projected to boost the demand for PP compounds over the forecast period. In the automotive industry, PP compounds are used for manufacturing a wide range of components, including heater cases, lamp housings, bumper fascias, instrument panels, rocker panels, boot liners, electrical housings, and fans and shrouds, owing to their properties, such as better reliability, safety, low maintenance, and low cost of manufacturing the parts. , With the growth of the automotive sector, especially the commercial vehicle segment, demand for lightweight materials for increasing vehicle efficiency has increased in recent years owing to the development of commercial operations in logistics and the expansion of the industrial sector in the emerging markets, including GCC countries, South Africa, and Morocco. , Product Insights , The mineral-filled PP compounds segment led the market and accounted for more than 43.0% share of the overall revenue in 2019. Strong demand from various industries, including automotive and electrical and electronic industries, for several applications in the automotive HAVC system, air conditioner, dishwasher parts, fan blades, and food containers is expected to drive the segment over the forecast period. A mineral filled PP compounds offer better performance with an improved balance of heat resistance and stiffness as compared to standard PP compounds. In addition, they enable achieving lower part thickness, which helps in reducing the overall cost of the product. , The compounded TPV segment is expected to witness significant growth over the forecast period owing to its surging demand for manufacturing lightweight material in various industries, especially in the automotive industry. Compounded TPVs are the copolymers of PP compound and rubber materials, combining advantageous properties of both thermosets and plastics. These materials tend to be lightweight, durable, inexpensive, and resistant to heat, oils, chemicals, and other stressful conditions, thus rendering them ideal for automotive application. Compounded TPVs are increasingly used to substitute conventional metals, glass, plastics such as PVC, and other materials owing to numerous product advantages. , Country Insights , GCC countries dominated the market and accounted for over 40.0% share of the overall revenue in 2019. This is attributed to strong demand from the automobile industry as well as from other end-use industries, such as electrical and electronics and building and construction. Rapid industrialization, coupled with improving infrastructure in the GCC countries, is expected to positively impact the product demand. The growth of the construction sector, mainly in Saudi Arabia, UAE, and Qatar, owing to the economic recovery, advanced real estate regulatory framework, and increasing number of infrastructure projects is expected to drive the demand for PP compounds over the forecast period. , Furthermore, rising population and benefits from high disposable income, along with access to automobile financing and low fuel prices compared with other regions, are expected to propel the growth of the PP compound market in the region. , However, the outbreak of COVID- 19 has negatively impacted the regional demand for PP compounds owing to several measures taken by various governments in the region to contain the spread of coronavirus. Order cancellations, restrictions on exports and imports, and shipping complications are further expected to hamper the market growth in the near future. , Key Companies & Market Share Insights , The market is characterized by the presence of various small- and medium-scale companies catering to and local demand. It is characterized by forwarding integration through raw material production, polypropylene manufacturing, and distribution to various application industries. Integration across the stages of the value chain results in continuous raw material supply as well as low manufacturing costs. R&D initiatives by a few companies to enhance their product specifications and expand the market reach are expected to further augment the product demand in the years to come. The market is found to be significantly fragmented owing to the presence of various manufacturers across the region., KEY MARKET SEGMENTS, By Product, Mineral Filled PP Compounds , Compounded TPO , Compounded TPV , Glass Reinforced , Others , By Application, Automotive , Building & Construction , Electrical & Electronics , Textiles , Others , By Country, GCC Countries , Saudi Arabia , UAE , Qatar , Oman , Kuwait , Bahrain , Egypt , Algeria , Morocco , South Africa, KEY MARKET PLAYERS, LyondellBasell Industries Holdings B.V. , Sumitomo Chemical Co., Ltd. , Mitsui Chemicals, Inc. , Solvay , Polyone Corporation , Repsol , SABIC , Exxon Mobil Corporation , Borealis AG , Saudi Polymers LLC , GAP Polymers.