The Europe Polypropylene Market worth $16.26 billion is expected to reach $26.26 billion by 2023. In terms of volume polypropylene (PP) ranks as the second largest polymer industry in the world today and makes up 25% of global polymer demand. Less competitive regions will have to adapt through supply rationalizations else with new product and process innovations. The identification of suitable feedstock for the desired petrochemicals is initial block of polypropylene value chain.
Polypropylene market permeates a wide range of product, which includes almost every sphere of life, such as clothing, construction, furniture, agriculture, automobiles, packaging and many more. With growing population, the demand for these sectors has seen an upsurge in the recent past. The increased consumption of plastic products from major developing applications with rapid industrialization is considered to opportunity for the rise of demand in European market.
The reason anticipated for growth in revenue of the polypropylene market has been attributed mainly to the huge potential of Europe’s petrochemical industry. Growing potential in polypropylene market is foreseen to expect to attain hand full of revenue from packaging industry during the forecast period. Polypropylene is one of the mostly used plastic in 3D printing application with growing demand across the region.
The report focuses on Europe in terms of changing trends of polypropylene production, demand, pricing, exports and imports with respect to decline in crude oil prices. It also gives in depth analysis on the supply chain of polypropylene in the European market which has secured 32% share in the global polypropylene market.
What is Polypropylene?
Our Polypropylene Market insights Propylene is one of the major building blocks of the petrochemical industry. It is also known as propene. Polypropylene is a tough and rigid, crystalline thermoplastic produced from propene (or propylene) monomer, which a linear hydrocarbon resin and is also known as polypropene. The chemical formula of polypropylene is (C3H6)n. Polypropylene Resin (PP) is among the cheapest plastics available today. PP is categorized under the polyolefin family of polymers and is one of the top 3 most used polymers today. Polypropylene has applications, both as a plastic and as a fibre in industries including automotive, construction, packaging etc.
What are the major applications for Europe Polypropylene?
PP is found suitable as a material utilized across a wide range of polymer applications including packaging and labeling, textiles, stationery, plastic parts and reusable containers of various types. Packaging applications accounts for the largest volume of growth despite weak consumer spending and competitive pressures. Major use of polypropylene lies in the packaging industry for consumer products, food containers, cosmetic products, beverages, and others.
Automotive industry depict the scope in the Polypropylene market for its usage in manufacturing of plastic parts, car bumpers, dashboards, and others. There has been a significant rise in demand for polypropylene due to emerging applications, such as injection molding, fiber and raffia, film and sheet, blow molding, and others
Market Research and Market Trends of Europe Polypropylene Ecosystem
- One of the most important feedstock in Europe is propane which is used by approximately 70% of the manufacturers in the propylene market. Propylene itself is used in the manufacturing of polypropylene and is obtained from crude oil. As the crude oil prices are highly inconsistent in nature and are directly linked with polypropylene; it has been creating turbulence in European polypropylene market in terms of production, demand, supply, exports and imports. The manufacturers and suppliers of PP are finding alternate sources such as refineries by products.
- The consumption of polypropylene in UK has always been more than in other European countries, particularly in the injection mouldings application. According to the recent finding Germany and France are set to see an upsurge in the high density polyethylene (HDPE) and low density polyethylene (LDPE) market. Wherein PP is losing share to HDPE in caps and closures and under pressure from recycled HDPE in transit packaging. PP demand is still expected to be on rise which can accounted to the development of new grades of resin by researchers which offer high clarity and fast cycling despite of these pressures.
- SABIC recently launched its new PP pilot plant located at the SABIC’s Global Technology Center for Europe in Geleen. The new facility will serve to develop products with improved balance in stiffness and impact resistance, flow properties and other properties specific to target applications. It will design next-generation PP materials using gas-phase polymerization technology. SABIC plans to focus on the improvement of impact grades of polypropylene, as well as random copolymers and homopolymers. This will also carry out experimentation on advanced catalysts.
- To solve imbalances to its propylene supply it is anticipated that Europe will be enforced additional imports from the nations with oversupply of the product whereas North America and China have been addressing their shortfall in supply of propylene with alternative technologies and raw material. Currently, there are two PDH units in Europe, but all indications are that new PDH and MTO-MTP investments are not viable options. Hence, the only option left for meeting the demand is increasing imports, which will eventually bridge the gap between propylene and polypropylene.
Who are the Major Players in Europe Polypropylene market?
The players profiled in the report include Borealis AG, ExxonMobil Corporation, Ineos Group Limited, LyondellBasell Industries N.V., SABIC (Saudi Arabia Basic Industries Corporation) Arkema S.A., Borealis AG, Braskem S.A, China National Chemical Corporation (ChemChina), Dow Chemical Company, E.I. du Pont de Nemours and Company (DuPont).
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
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- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.