Scratch Resistant Polypropylene Market - Forecast(2023 - 2028)
Scratch Resistant Polypropylene Market
Overview
Scratch
Resistant Polypropylene Market size is forecast to reach US$5.3 billion by 2026, after
growing at a CAGR of 5.2% during 2021-2026 owning to growing consumption of
scratch-resistant polypropylene engineering plastics in the automotive
industry. It
offers excellent properties such as heat resistance, surface strength, impact
resistance, recyclability, and other properties thus; it is commonly used in interior
automotive applications. Scratch-resistant polypropylene is
used for interior trim, dashboard, door trim, battery cases, supplemental
restraint system (airbag), and bumpers. Also, scratch-resistant polypropylene offers
excellent chemical resistance, tensile strength, and absorption of water. Polypropylene
is safe because it does not have any remarkable effect from an occupational
health and safety point of view, in terms of chemical toxicity, thus it is widely
used in used automotive as well as packaging, consumer good, packaging, and
others which is estimated to grow the demand for scratch-resistant polypropylene
industry during the projected era.
During the COVID-19 pandemic, major sectors saw a steady decline in growth owing to the decrease in transportation during the lockdown. The automotive production activities were shut down from the first quarter of 2020 and now it continues in the second quarter of 2021. In March 2021, according to the International Organization of Motor Vehicle Manufacturers (OICA), vehicle production in Europe, North America, and South America fell by 21%, 20%, and 30% respectively. In lockdown production of the vehicle was postponed which hampered the scratch-resistant polypropylene market.
Report Coverage
The
report: “Scratch Resistant Polypropylene
Market – Forecast (2021-2026)”, by Industry ARC, covers an in-depth
analysis of the following segments of the Scratch Resistant Polypropylene Industry.
By
Type: Propene and
Propylene
By Application: Automotive (Interior Trim, Body
Panels, Bumpers, Door Trim, Dashboard, Others), Aerospace, Furniture,
Packaging, Industrial, Medical (Diagnostic Device, Intravenous Bottle, Disposable Syringe, Others), Consumer Goods and Others
By
Geography: North America (USA, Canada, and Mexico), Europe (UK,
Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of
Europe), Asia Pacific (China, Japan, India, South Korea, Australia & New
Zealand, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America
(Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW
(Middle East and Africa)
Key Takeaways
- Asia-Pacific dominated the scratch-resistant polypropylene market due to the increasing automotive industry in developing and emerging Asian countries such as India, China. Japan, Malaysia, and others.
- Increasing adoption of plastic from the packaging industry is estimated to grow the consumption of scratch-resistant polypropylene industry in near future.
- Growing adoption of engineering plastics from the automotive industry due to its widespread use in a dashboard, supplemental restraint system (airbag), interior trim, door trim, body panels, and other applications is estimated to grow the consumption of scratch-resistant polypropylene.
- Additionally, propane is used in the polymerization process of polypropylene. Propane is produced in large quantities from oil, gas, naphtha, and others. Thus, the fluctuation of crude oil may hamper market growth.
Figure: APAC Scratch Resistant Polypropylene Market, 2021-2026 (US$ Billion)
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Scratch Resistant Polypropylene Market
Segment Analysis – By Type
Propene segment held the largest share in the global scratch-resistant
polypropylene market in 2020. Propene is a most versatile
thermoplastic polymer that is available for commercial applications. Propene is
a fully recyclable and cheapest plastic material that is easily available and thus is used as raw material for organic synthesis of polypropylene. Additionally,
propene is used as a fiber in various industries such as automotive
manufacturing, aerospace, and other sectors. Hence, due to their heat
resistance, they are widely used to produce polypropylene.
Scratch Resistant Polypropylene Market Segment
Analysis – By Application
Automotive application held the largest share in the global scratch-resistant polypropylene market in 2020 and is growing at a CAGR of 5.4% in 2021-2026. Scratch-resistant polypropylene is used as engineering plastics in automotive which offers excellent tensile strength, impact resistance, is weather-resistant, and provides surface strength compared to polyethylene. Polypropylene is 100% recyclable and used in Automobile signal lights, battery cables, brooms, brushes, and ice scrapers. Thus, also increasing demand for supplemental restraint system (airbag) from the automotive industry is expected to propel the market scenario. According to the India Brand Equity Foundation (IBEF), automobile export reached 4.77 million vehicles in FY20, growing at a CAGR of 6.94% during FY16-FY20. Additionally, according to the International Organization of Motor Vehicle Manufacturers (OICA), in Japan, the commercial and passenger vehicle sales increased 9.7 million in 2018 as compared to 9.6 million in 2017. Thus, the growing demand for vehicles is estimated to grow the demand for scratch-resistant polypropylene industry.
Scratch Resistant Polypropylene Market
Segment Analysis – By Geography
Asia Pacific dominated the global scratch-resistant polypropylene market in 2020 with more than the share of 28%, due to increasing demand from the automotive industry in Asian countries such as India, China, Malaysia, and others. Scratch-resistant polypropylene engineering plastics materials are widely used in the interior of the car as they offer excellent chemical resistance and weldability. Thus, increasing the automotive industry in developing and emerging countries are expected to grow the market size in the region. According to the International Organization of Motor Vehicle Manufacturers (OICA), in Malaysia, the commercial and passenger car vehicle production increased by 1.2% to 571632 units in 2019 as compared to 564800 units in 2018. According to India Brand Equity Foundation (IBEF), the Indian automotive industry (including component manufacturing) is expected to reach US$ 251 to US$ 282 billion by 2026. Also, the Indian Government expects the automobile sector to attract US$ 8 to US$10 billion in local and foreign investments by 2023. Furthermore, according to Automotive Aftermarket Suppliers Association (AASA) and the Auto Care Association, in China, light-duty aftermarket sales will grow from US$281 billion in 2020 to US$314 billion in 2021. Hence, the rapid economic development is expected to grow the automotive sector in the upcoming year which, in turn, is estimated to grow the consumption of the scratch-resistant polypropylene market.
Scratch
Resistant Polypropylene Market Drivers
Growth in Automotive Sector is estimated to
grow the demand for Scratch Resistant Polypropylene at Global Level
Polypropylene is widely used in
automotive parts because of its low cost, weldability, and mechanical
properties that can be used for trays, bumpers, fender liners, interior trim,
instrumental panels, supplemental restraint system (airbag), and door trims.
Thus, the growing automotive industry is estimated to grow the demand for engineering
plastics scratch-resistant
polypropylene. The Chinese government expects the production of
automobiles to reach 35 million units by 2025, according to the International Trade
Administration (ITA). Additionally, according to the International Organization
of Vehicle Motor Manufacturers (OICA), in China commercial vehicle production
increased by 31.4% to 5731161 units in 2020 as compared to 4360472 units in
2019. In 2017, the Australian market sold 1.2 million new passenger cars, SUVs,
and commercial vehicles, an increase of 0.9 % from 2016. Light commercial
vehicle production has increased from 2,249,348 in 2018 to 2,254,153 in 2019,
according to OICA, an increase of 0.2 % in Europe. Additionally, according to
the Federation
of Automobile Dealers Associations (FADA), in India sales of passenger vehicles
increased to 2,91,001 units in November 2020, compared with 2,79,365 units in
November 2019. Furthermore, according to the India Brand
Equity Foundation (IBEF), the Indian Government expects the automotive sector
to attract US$ 8 billion to US$10 billion in local and foreign investments by
2023. Hence, such factors are estimated to grow the consumption of scratch-resistant
polypropylene.
Growing Demand for Plastic from Packaging Industry
Polypropylene is among the cheapest plastics
available at present as it offers excellent tensile strength highly water
absorbability and high melting temperature at 327°F (163.8°C) which makes it ideal for all
applications and packaging too. Hence, increasing the packaging industry
is estimated to boost the market size during the projected era. According to
Cosmetic Europe, a personal care association, China’s cosmetics market
increased by 15.33 % to euro 54.9 billion (US$ 61.45 billion) in 2019 compared
to euro 47.6 billion (US$ 56.21) in 2018. In India increased by euro 12 billion
(US$ 13.43 billion) in 2019 as compared to euro 10.7 billion (US$ 12.63
billion) in 2018. Apart from this, additionally, according to the India Brand
Equity Foundation (IBEF), India’s domestic pharmaceutical market is estimated
to reach US$ 65 billion by 2024 and ~US$ 120-130 billion by 2030. Furthermore, according
to Healthcare Information Company IQVIA, China was the world’s second-largest
national pharmaceutical market which is estimated to grow by US$175 billion by
2022 from US$122.6 billion in 2017. Hence, the growing cosmetic and
pharmaceutical industry is growing demand for packaging which, in turn, is
estimated to boost the market demand during the forecast period.
Scratch Resistant Polypropylene Market
Challenges
Volatility in Raw Material Prices
Crude oil is used as a raw material for
polypropylene plastic material. Thus, the prices fluctuate of crude oil may
hamper the production of plastic materials as well as polypropylene. According
to BP static, oil prices declined to US$64.21/bbl in 2019 as compared with
US$71.31/bbl in 2018. Additionally, according to the U.S. Energy Information Administration
(EIA), crude oil prices decreased by US$ 41.69 per barrel in 2020. Hence,
volatility in crude oil prices may hamper the scratch-resistant polypropylene
market growth.
Scratch Resistant Polypropylene Market
Landscape
Technology launches, acquisitions, and R&D
activities are key strategies adopted by players in the scratch-resistant
polypropylene market. Major players in the Scratch Resistant Polypropylene
Market include:
- SABIC
- BASF SE
- Evonik Industries
- Phantom Plastics
- Croda International Plc.,
- LyondellBasell
- Sinopec
- Tipco Industries
- Sumitomo Chemicals
- RTP and more.
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LIST OF TABLES
1.Global Scratch Resistant Pp Compound For Automotive Interior Application Outlook Market 2019-2024 ($M)1.1 Scratch Resistant Polypropylene Compound For Automotive Interior Market Volume Share By Application Market 2019-2024 ($M) - Global Industry Research
1.2 Dashboard Market 2019-2024 ($M) - Global Industry Research
1.3 Door Trim Market 2019-2024 ($M) - Global Industry Research
1.4 Pillar Trim Market 2019-2024 ($M) - Global Industry Research
1.5 Seat Carrier Market 2019-2024 ($M) - Global Industry Research
2.Global Competitive Landscape Market 2019-2024 ($M)
2.1 Borealis Ag Market 2019-2024 ($M) - Global Industry Research
2.2 Evonik Industry Market 2019-2024 ($M) - Global Industry Research
2.3 Advanced Composites, Inc Market 2019-2024 ($M) - Global Industry Research
2.4 Lyondellbasell Market 2019-2024 ($M) - Global Industry Research
2.5 Mitsui Chemicals, Inc Market 2019-2024 ($M) - Global Industry Research
2.6 Sabic Market 2019-2024 ($M) - Global Industry Research
2.7 Sinopec Market 2019-2024 ($M) - Global Industry Research
2.8 Sumitomo Chemical Co , Ltd Market 2019-2024 ($M) - Global Industry Research
2.9 Tipco Industry Ltd Market 2019-2024 ($M) - Global Industry Research
2.10 Trinseo S A Market 2019-2024 ($M) - Global Industry Research
2.11 Rtp Company Market 2019-2024 ($M) - Global Industry Research
2.12 A Schulman, Inc Market 2019-2024 ($M) - Global Industry Research
3.Global Scratch Resistant Pp Compound For Automotive Interior Application Outlook Market 2019-2024 (Volume/Units)
3.1 Scratch Resistant Polypropylene Compound For Automotive Interior Market Volume Share By Application Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Dashboard Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Door Trim Market 2019-2024 (Volume/Units) - Global Industry Research
3.4 Pillar Trim Market 2019-2024 (Volume/Units) - Global Industry Research
3.5 Seat Carrier Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Competitive Landscape Market 2019-2024 (Volume/Units)
4.1 Borealis Ag Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Evonik Industry Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Advanced Composites, Inc Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Lyondellbasell Market 2019-2024 (Volume/Units) - Global Industry Research
4.5 Mitsui Chemicals, Inc Market 2019-2024 (Volume/Units) - Global Industry Research
4.6 Sabic Market 2019-2024 (Volume/Units) - Global Industry Research
4.7 Sinopec Market 2019-2024 (Volume/Units) - Global Industry Research
4.8 Sumitomo Chemical Co , Ltd Market 2019-2024 (Volume/Units) - Global Industry Research
4.9 Tipco Industry Ltd Market 2019-2024 (Volume/Units) - Global Industry Research
4.10 Trinseo S A Market 2019-2024 (Volume/Units) - Global Industry Research
4.11 Rtp Company Market 2019-2024 (Volume/Units) - Global Industry Research
4.12 A Schulman, Inc Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Scratch Resistant Pp Compound For Automotive Interior Application Outlook Market 2019-2024 ($M)
5.1 Scratch Resistant Polypropylene Compound For Automotive Interior Market Volume Share By Application Market 2019-2024 ($M) - Regional Industry Research
5.2 Dashboard Market 2019-2024 ($M) - Regional Industry Research
5.3 Door Trim Market 2019-2024 ($M) - Regional Industry Research
5.4 Pillar Trim Market 2019-2024 ($M) - Regional Industry Research
5.5 Seat Carrier Market 2019-2024 ($M) - Regional Industry Research
6.North America Competitive Landscape Market 2019-2024 ($M)
6.1 Borealis Ag Market 2019-2024 ($M) - Regional Industry Research
6.2 Evonik Industry Market 2019-2024 ($M) - Regional Industry Research
6.3 Advanced Composites, Inc Market 2019-2024 ($M) - Regional Industry Research
6.4 Lyondellbasell Market 2019-2024 ($M) - Regional Industry Research
6.5 Mitsui Chemicals, Inc Market 2019-2024 ($M) - Regional Industry Research
6.6 Sabic Market 2019-2024 ($M) - Regional Industry Research
6.7 Sinopec Market 2019-2024 ($M) - Regional Industry Research
6.8 Sumitomo Chemical Co , Ltd Market 2019-2024 ($M) - Regional Industry Research
6.9 Tipco Industry Ltd Market 2019-2024 ($M) - Regional Industry Research
6.10 Trinseo S A Market 2019-2024 ($M) - Regional Industry Research
6.11 Rtp Company Market 2019-2024 ($M) - Regional Industry Research
6.12 A Schulman, Inc Market 2019-2024 ($M) - Regional Industry Research
7.South America Scratch Resistant Pp Compound For Automotive Interior Application Outlook Market 2019-2024 ($M)
7.1 Scratch Resistant Polypropylene Compound For Automotive Interior Market Volume Share By Application Market 2019-2024 ($M) - Regional Industry Research
7.2 Dashboard Market 2019-2024 ($M) - Regional Industry Research
7.3 Door Trim Market 2019-2024 ($M) - Regional Industry Research
7.4 Pillar Trim Market 2019-2024 ($M) - Regional Industry Research
7.5 Seat Carrier Market 2019-2024 ($M) - Regional Industry Research
8.South America Competitive Landscape Market 2019-2024 ($M)
8.1 Borealis Ag Market 2019-2024 ($M) - Regional Industry Research
8.2 Evonik Industry Market 2019-2024 ($M) - Regional Industry Research
8.3 Advanced Composites, Inc Market 2019-2024 ($M) - Regional Industry Research
8.4 Lyondellbasell Market 2019-2024 ($M) - Regional Industry Research
8.5 Mitsui Chemicals, Inc Market 2019-2024 ($M) - Regional Industry Research
8.6 Sabic Market 2019-2024 ($M) - Regional Industry Research
8.7 Sinopec Market 2019-2024 ($M) - Regional Industry Research
8.8 Sumitomo Chemical Co , Ltd Market 2019-2024 ($M) - Regional Industry Research
8.9 Tipco Industry Ltd Market 2019-2024 ($M) - Regional Industry Research
8.10 Trinseo S A Market 2019-2024 ($M) - Regional Industry Research
8.11 Rtp Company Market 2019-2024 ($M) - Regional Industry Research
8.12 A Schulman, Inc Market 2019-2024 ($M) - Regional Industry Research
9.Europe Scratch Resistant Pp Compound For Automotive Interior Application Outlook Market 2019-2024 ($M)
9.1 Scratch Resistant Polypropylene Compound For Automotive Interior Market Volume Share By Application Market 2019-2024 ($M) - Regional Industry Research
9.2 Dashboard Market 2019-2024 ($M) - Regional Industry Research
9.3 Door Trim Market 2019-2024 ($M) - Regional Industry Research
9.4 Pillar Trim Market 2019-2024 ($M) - Regional Industry Research
9.5 Seat Carrier Market 2019-2024 ($M) - Regional Industry Research
10.Europe Competitive Landscape Market 2019-2024 ($M)
10.1 Borealis Ag Market 2019-2024 ($M) - Regional Industry Research
10.2 Evonik Industry Market 2019-2024 ($M) - Regional Industry Research
10.3 Advanced Composites, Inc Market 2019-2024 ($M) - Regional Industry Research
10.4 Lyondellbasell Market 2019-2024 ($M) - Regional Industry Research
10.5 Mitsui Chemicals, Inc Market 2019-2024 ($M) - Regional Industry Research
10.6 Sabic Market 2019-2024 ($M) - Regional Industry Research
10.7 Sinopec Market 2019-2024 ($M) - Regional Industry Research
10.8 Sumitomo Chemical Co , Ltd Market 2019-2024 ($M) - Regional Industry Research
10.9 Tipco Industry Ltd Market 2019-2024 ($M) - Regional Industry Research
10.10 Trinseo S A Market 2019-2024 ($M) - Regional Industry Research
10.11 Rtp Company Market 2019-2024 ($M) - Regional Industry Research
10.12 A Schulman, Inc Market 2019-2024 ($M) - Regional Industry Research
11.APAC Scratch Resistant Pp Compound For Automotive Interior Application Outlook Market 2019-2024 ($M)
11.1 Scratch Resistant Polypropylene Compound For Automotive Interior Market Volume Share By Application Market 2019-2024 ($M) - Regional Industry Research
11.2 Dashboard Market 2019-2024 ($M) - Regional Industry Research
11.3 Door Trim Market 2019-2024 ($M) - Regional Industry Research
11.4 Pillar Trim Market 2019-2024 ($M) - Regional Industry Research
11.5 Seat Carrier Market 2019-2024 ($M) - Regional Industry Research
12.APAC Competitive Landscape Market 2019-2024 ($M)
12.1 Borealis Ag Market 2019-2024 ($M) - Regional Industry Research
12.2 Evonik Industry Market 2019-2024 ($M) - Regional Industry Research
12.3 Advanced Composites, Inc Market 2019-2024 ($M) - Regional Industry Research
12.4 Lyondellbasell Market 2019-2024 ($M) - Regional Industry Research
12.5 Mitsui Chemicals, Inc Market 2019-2024 ($M) - Regional Industry Research
12.6 Sabic Market 2019-2024 ($M) - Regional Industry Research
12.7 Sinopec Market 2019-2024 ($M) - Regional Industry Research
12.8 Sumitomo Chemical Co , Ltd Market 2019-2024 ($M) - Regional Industry Research
12.9 Tipco Industry Ltd Market 2019-2024 ($M) - Regional Industry Research
12.10 Trinseo S A Market 2019-2024 ($M) - Regional Industry Research
12.11 Rtp Company Market 2019-2024 ($M) - Regional Industry Research
12.12 A Schulman, Inc Market 2019-2024 ($M) - Regional Industry Research
13.MENA Scratch Resistant Pp Compound For Automotive Interior Application Outlook Market 2019-2024 ($M)
13.1 Scratch Resistant Polypropylene Compound For Automotive Interior Market Volume Share By Application Market 2019-2024 ($M) - Regional Industry Research
13.2 Dashboard Market 2019-2024 ($M) - Regional Industry Research
13.3 Door Trim Market 2019-2024 ($M) - Regional Industry Research
13.4 Pillar Trim Market 2019-2024 ($M) - Regional Industry Research
13.5 Seat Carrier Market 2019-2024 ($M) - Regional Industry Research
14.MENA Competitive Landscape Market 2019-2024 ($M)
14.1 Borealis Ag Market 2019-2024 ($M) - Regional Industry Research
14.2 Evonik Industry Market 2019-2024 ($M) - Regional Industry Research
14.3 Advanced Composites, Inc Market 2019-2024 ($M) - Regional Industry Research
14.4 Lyondellbasell Market 2019-2024 ($M) - Regional Industry Research
14.5 Mitsui Chemicals, Inc Market 2019-2024 ($M) - Regional Industry Research
14.6 Sabic Market 2019-2024 ($M) - Regional Industry Research
14.7 Sinopec Market 2019-2024 ($M) - Regional Industry Research
14.8 Sumitomo Chemical Co , Ltd Market 2019-2024 ($M) - Regional Industry Research
14.9 Tipco Industry Ltd Market 2019-2024 ($M) - Regional Industry Research
14.10 Trinseo S A Market 2019-2024 ($M) - Regional Industry Research
14.11 Rtp Company Market 2019-2024 ($M) - Regional Industry Research
14.12 A Schulman, Inc Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)2.Canada Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
3.Mexico Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
4.Brazil Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
5.Argentina Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
6.Peru Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
7.Colombia Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
8.Chile Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
9.Rest of South America Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
10.UK Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
11.Germany Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
12.France Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
13.Italy Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
14.Spain Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
15.Rest of Europe Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
16.China Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
17.India Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
18.Japan Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
19.South Korea Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
20.South Africa Scratch Resistant Polypropylene Market Revenue, 2019-2024 ($M)
21.North America Scratch Resistant Polypropylene By Application
22.South America Scratch Resistant Polypropylene By Application
23.Europe Scratch Resistant Polypropylene By Application
24.APAC Scratch Resistant Polypropylene By Application
25.MENA Scratch Resistant Polypropylene By Application