According to the market research report “Europe Polypropylene Market: By Application (Packaging, Building & Construction, Automotive, Electrical & Electronics, Consumer Products and Others); By Country (Germany, France, Poland, United Kingdom, Russian Federation) – Forecast (2015 – 2020), published by IndustryARC, europe polypropylene market isestimated to reach $20.6 Billion.
Browse 45 Market Tables, 41 Figures spread through 86 Slides and an in-depth TOC on “Europe Polypropylene Market”
Petrochemical industry holds a pivotal position in the economic development of a country and acts as a building block for various downstream industries like papers, paints, textiles, FMCG products, pharmaceuticals and many more. The increased consumption of plastic products from major developing applications with rapid industrialization is considered as the key driver for the rise of demand in European polypropylene market. Packaging sector is one of the major end users of polypropylene.
The market in 2014 was $15.56 billion and is dominated by Western Europe which is poised to exhibit the fastest growth due to favorable macroeconomic conditions like population growth and financial conditions like increasing FDI investments. The polypropylene revenue is set to grow over the forecast period, with growing demand across the region. With the region seeing an increase in the demand the revenue of the polypropylene market is anticipated to grow, attributed mainly to the the huge potential of Europe’s petrochemical industry, we envisage it surpassing its past records in terms of demand growth. This investment across the olefin and polyolefin value chain is crucial when looking at the supply and demand balances of PP. Europe is forecast to remain in deficit over the next ten years and grow to a deficit of 4.3 million metric tons by 2025, quadrupling from the 2013 position. This is expected to materialise despite some projects coming on in the near term.
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The polypropylene market in Europe is anticipated to grow at a CAGR of 6.39% during the forecast period 2015 to 2020. The number of manufacturers across Europe for polypropylene has increased manifold. These manufacturers are actively investing in scaling up their position in the market and are able to attract profitable deals. Some of the major players are Borealis AG, ExxonMobil Corporation, Ineos, LyondellBasell and Sabicamong others. Major firms spent huge amounts of money in the development of new production plants and efficient technologies and at the same time, new firms are coming up with cutting-edge technological innovations, resulting in tremendous increase in the degree of competition.
The overall polypropylene market in Europe is characterized by large number of companies but top three companies account for more than 75% market share due to the wide distribution network and brand reputation. Demand for polypropylene is gradually picking up in Europe from the past few years. Due to the significant drop in the crude oil prices people are buying it for inventory and production which will gradually result in some stability in PP pricing. It is a possibility that there will be an upturn, although not a major one from 2016, and there will be an opportunity for the market to stabilize at a slightly higher level than where it is today. The market is poised to exhibit new product launches and strategic acquisitions or partnerships, as major companies explore for new opportunities.
The market is analyzed by the following end user areas:
- Building & Construction
- Electrical & Electronics
- Consumer products
Following key players were also covered as part of the market landscape analysis:
- Borealis AG
- ExxonMobil Corporation
- Ineos Group Limited
- LyondellBasell Industries N.V.
- SABIC (Saudi Arabia Basic Industries Corporation)
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