Southeast Asia Modified Polypropylene Market Is Expected To Reach $ 2.57 Billion By 2030


 San Francisco, 26 March 2024: The Report Southeast Asia Modified Polypropylene Market Size, Share & Trends Analysis Report By End-use (Automotive, Building & Construction, Packaging, Medical, Electrical & Electronics), By Country, And Segment Forecasts, 2024 - 2030

The Southeast Asia modified polypropylene market is anticipated to reach USD 2.57 billion by 2030 and it is projected to grow at a CAGR of 7.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increased use of modified polypropylene in applications, such as geotextiles and geo-membranes for construction projects, is driving market growth.

Furthermore, the increasing e-commerce sector, as well as changing customer expectations for sustainable and lightweight packaging solutions, are driving demand for modified polypropylene. The Southeast Asian construction industry, which is experiencing fast urbanization and infrastructure development, contributes to the need for modified polypropylene in applications such as pipes, fittings, and insulating materials.

In addition, the increasing emphasis on environmental sustainability and regulatory compliance contributes to the rise of modified polypropylene in the electrical & electronics segment. The material's eco-friendly characteristics and recyclability align with the region's growing awareness of environmental issues and the push toward greener manufacturing practices. The increasing emphasis on environmental sustainability and regulatory compliance contributes to the rise of modified polypropylene in the electrical & electronics segment. The material's eco-friendly characteristics and recyclability align with the region's growing awareness of environmental issues and the push toward greener manufacturing practices.

Access Research Report of Southeast Asia Modified Polypropylene Market @ https://www.grandviewresearch.com/industry-analysis/southeast-asia-modified-polypropylene-market-report

Southeast Asia Modified Polypropylene Market Report Highlights

  • Based on end-use, the automotive segment dominated the market with a 62.0% revenue share in 2023. The durability and resistance properties of modified polypropylene in Southeast Asia's tropical climate and varying environmental conditions contribute significantly to the reliability and longevity of automotive components
  • The medical segment is projected to grow at the fastest CAGR over the forecast period. Modified polypropylene is a key material in the healthcare sector as it ensures hygiene and prevents cross-contamination, thus supporting the development of safe and disposable medical solutions across Southeast Asia.
  • Indonesia dominated the market as the construction and infrastructure sectors are particularly crucial in boosting demand for modified polypropylene. Modified Polypropylene is utilized in a variety of construction applications, including pipelines, insulation, roofing, and other structural components.
  • In January 2023, Nayara Energy Company announced the opening of its new 450000 t/a polypropylene (PP) factory, which would be operational from October to December 2023. The new PP factory will be built next to the company's current refinery in Vadinar, Gujarat, western India, and will cost approximately 750 million US dollars.

Southeast Asia Modified Polypropylene Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 1.69 billion

Revenue forecast in 2030

USD 2.57 billion

Growth rate

CAGR of 7.3% from 2024 to 2030

Base year for estimation

2023

Historical data

2018 - 2022

Forecast period

2024 - 2030

List of Key Players in the Southeast Asia Modified Polypropylene Market

  • SABIC
  • LG Chem
  • Polyplastics Asia Pacific Sdn Bhd
  • HMC Polymers
  • Dow Thailand Group
  • PT Mitsui Chemicals
  • PolyPacific
  • China XD Plastics Co., Ltd

Access Press Release of Southeast Asia Modified Polypropylene Market @ https://www.grandviewresearch.com/press-release/southeast-asia-modified-polypropylene-market-analysis

 

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