The North America Polypropylene Compounds Market would witness market growth of 6.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 2,109.1 Kilo Tonnes, showcasing a growth of 5.0% (2019-2022).
The future of the market is anticipated to experience substantial expansion and invention in the coming years, propelled by sustainability challenges, technological progress, and shifting industry requirements. As industries prioritize environmental stewardship, bio-based compounds derived from renewable sources and recycled materials are expected to gain traction, offering sustainable alternatives to traditional fossil fuel-based compounds. Advanced additive technologies and digitalization will enhance product performance, customization capabilities, and production efficiency, driving market competitiveness and innovation.
Additionally, the increasing adoption of lightweight solutions in the automotive and construction sectors and expanding applications in packaging, consumer goods, and healthcare will fuel demand for these compounds. Collaboration, regulatory compliance, and market consolidation will shape the competitive landscape, paving the way for continued growth and market leadership in the dynamic market.
Mexico’s rising electric vehicle sector is expected to impact the demand for these compounds significantly. As the EV sector expands, there will be an increased demand for lightweight materials, technological advancements, supply chain integration, and environmentally friendly solutions, all of which drive the adoption of these compounds in electric vehicle manufacturing processes. As per the International Trade Administration (ITA), the sales of EVs and hybrid vehicles in Mexico totaled 51,065 units in 2022; this represented a growth of 8.5 percent compared to 2021. Hybrid vehicles represent 3.75 percent of the total EV sector, followed by EVs (0.51%) and plug-in hybrid vehicles (0.42 %). Therefore, the expanding automotive sector of the region is propelling the market’s growth.
The US market dominated the North America Polypropylene Compounds Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7,454.4 million by 2030. The Canada market is experiencing a CAGR of 9% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 8.1% during (2023 - 2030).
Free Valuable Insights: The Polypropylene Compounds Market is Predict to reach $37 Billion by 2030, at a CAGR of 7.4%
Based on Product, the market is segmented into Mineral Filled PP Compounds, Compounded TPO, Compounded TPV, Glass Fiber Reinforced, Talc Filled, and Others. Based on Application, the market is segmented into Film & Sheet, Fiber, Raffia, and Others. Based on End-use, the market is segmented into Automotive, Building & Construction, Textile, Electrical & Electronics, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Product (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, kilo Tonnes, USD Billion, 2019-2030)
By End-use (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, kilo Tonnes, USD Billion, 2019-2030)
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