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

Southeast Asia Modified Polypropylene Market Growth & Trends

The Southeast Asia modified polypropylene market size is anticipated to reach USD 2.57 billion by 2030, registering a CAGR of 7.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increased use of modified PP 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 product demand.

Furthermore, the Southeast Asian construction industry, which is experiencing rapid 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 product demand 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.

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Southeast Asia Modified Polypropylene Market Report Highlights

• The automotive segment dominated the market with a share of more than 62.0% in 2023. The durability and resistance properties of modified PP contribute significantly to the reliability and longevity of automotive components

• The medical segment is expected to grow at the fastest CAGR of 8.4% over the forecast period

• Modified PP 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

• Indonesia dominated the overall market in 2023 due to the rapid expansion of the construction and infrastructure sectors, which are particularly crucial in boosting product demand. Modified PP 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. The new PP factory is built next to the company's current refinery in Vadinar, Gujarat, western India and costed approximately 750 million US dollars

Southeast Asia Modified Polypropylene Market Segmentation

Grand View Research has segmented the Southeast Asia modified polypropylene market on the basis of end-use and country:

Southeast Asia Modified PP End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Automotive

• Building & Construction

• Packaging

• Medical

• Electrical & Electronics

• Others

Southeast Asia Modified PP Country Outlook (Revenue, USD Million, 2018 - 2030)

• Southeast Asia

  • Thailand

  • Indonesia

  • Singapore

  • Vietnam

  • Philippines

  • Malaysia

List of Key Players of 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.