European Polypropylene Market is anticipated to hit .75 billion by 2023

Posted by Lohitha on August 8th, 2019

According to the new market research report by IndustryARC titled “Europe Polypropylene Market: By Application (Packaging, Building & Construction, Automotive, Electrical & Electronics, Consumer Products and Others); By Country (Germany, France, Poland, United Kingdom, Russian Federation) - (2014-2020)”, the market is driven by the huge potential of Europe’s petrochemical industry.

Germany held the largest market share for the European Polypropylene Market

Germany possesses major market share for European Polypropylene Market and is anticipated to reach .46 billion by 2023 at a CAGR of 6.24%. The growth is due to its high temperature tolerance capacity of approximately 132-140 °C. The packaging industry is the major end user of the polypropylene market in Germany, accounting for almost 30% of the market share in volume.

Selected Pricing Analysis done in the full report

• The fall in polypropylene prices are the direct impact of the precipitous fall in the crude oil prices in the year 2014. But apart from the plummeting prices, the timing and price changes in the PP resin has varied greatly due to the economic condition of the region being considered.
• One of the main reasons is the Eurozone currency crisis which has its impact on some of the EU countries, till date.
• The pricing of PP resin is very competitive and hence, is estimated to see an increase. This increase in PP resin price can be mainly attributed to the increasing demand from the applications of consumers.
• Other reasons include the repercussions of the sudden plunge in crude oil and Naphtha prices. This decline has resulted in lower prices of feedstocks like propylene and is being forwarded to the PP sector as well.

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Excerpts on Market Growth Factors

• The exports for different types of Polypropylene are estimated to grow in the near future because of increasing imports of propylene from other regions.
• The sharp fall in oil price is expected to provide a lift to the economic growth in the EU. It is anticipated to work like a tax cut on the consumers and companies in Poland and other countries, but without raising deficits or debt, and it also seems to support global growth.
• With all the above mentioned conditions, the demand for polypropylene market is anticipated to grow.

Key players of European Bakery Market:

• Coming to Key players section, Borealis stood first in the row. Borealis announced that it had completed the acquisition of DuPont Holding Netherland B.V.’s shares of Speciality Polymers Antwerp N.V., located in Zwijndrecht, Belgium. Prior to Borealis acquiring DuPont’s shares, Speciality Polymers Antwerp N.V. had been a common shareholding between DuPont Holding Netherlands B.V.
• Other key players including Braskem Schkopau, Braskem Wesseling, Chemopetrol, ExxonMobil Le Havre, Ineos Geel, among others.

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