Europe Polypropylene Market Growth & Forecast Report by 2027; Major Growth Opportunities Ahead says Fortune Business Insights.
The Europe polypropylene market size
is set to gain momentum from its possession of several beneficial properties.
It has high chemical and heat resistance properties and hence, is extensively
used in the packaging of food & beverages. This information is given by Fortune Business Insights™ in a new
report, titled, “Europe Polypropylene
Market Size, Share & Industry Analysis, By Type (Homopolymer, Copolymer
{Random Copolymer, and Block Copolymer}), Form (Resin and Powder), End-use
Industry (Packaging, Automotive, Infrastructure & Construction, Consumer
Goods/Lifestyle, Healthcare & Pharmaceuticals, Electrical & Electronics,
Agriculture, Textile & Fiber, and Others), and Country By Type, 2020-2027.”
The report further states that the Europe
polypropylene market share was USD
16.76 billion in 2019 and is projected to reach USD 17.65 billion by 2027, exhibiting a CAGR of 2.1% during the forecast
period.
The outbreak of the COVID-19 pandemic has
caused immense losses for a wide range of industries. Several healthcare
companies are persistently striving to discover a vaccine for curing the coronavirus.
Our reports are specially curated to provide elaborate information about the effects
of this pandemic on every market. It will help you in selecting the right
strategy for intensifying competition.
This
Report Answers the Following Questions:
·
What are the growth drivers, hindrances, and
dynamics in the market?
·
Which segment is expected to lead the market
in the coming years?
·
Which region is anticipated to dominate the
market in the near future?
·
How will the COVID-19 pandemic affect sales of
PP?
Drivers
& Restraints-
Rising
Demand for Processed Food & Beverages to Drive Growth
Europe is experiencing high demand for
food products owing to the rising population. Also, the busy and changing
lifestyles of people are increasing the need for processed food items that
consist of longer shelf-life. This factor is compelling the manufacturers to utilize
effective packaging solutions to prevent spoilage of food items. Polypropylene
is capable of protecting the food and beverages from becoming stale due to external
and internal factors. It can act as a moisture barrier. At the same time, it protects
those products from temperature fluctuations and UV rays.
However, the COVID-19 pandemic has
caused a rapid decline in the demand for polymers and gasoline. This is further
resulting in the fluctuations in the prices of crude oil. Apart from this, the rising
restrictions and halt of production processes in various industries owing to
the lockdown measures may hamper the Europe polypropylene market growth in the
near future.
Browse
summary:
https://www.fortunebusinessinsights.com/europe-polypropylene-market-103475
Segment-
Automotive
Segment to Grow Rapidly Owing to Usage of PP in Making Vehicle Parts
Based on end-use industry, the market
is fragmented into textile & fiber, infrastructure & construction, healthcare
& pharmaceuticals, packaging, agriculture, automotive, electrical &
electronics, consumer goods/lifestyle, and others. Out of these, the automotive
segment procured 14.0% in terms of the Europe polypropylene market share in
2019. This growth is attributable to the increasing consumption of PP for
developing automotive components and parts owing to its high moldability, strength
flexibility, and tensile properties. Besides, PP helps in surging the fuel
economy by lowering the weight of the vehicle.Also, in 2019, the consumer
goods/lifestyle and agriculture segments generated 7.0% and 6.1% shares,
respectively.
Regional
Analysis-
High
Demand for PP from Healthcare Industry to Favor Growth in France
Geographically, the market is
segregated into Poland, Germany, Sweden, Italy, Norway, France, Netherlands, the
U.K., Belgium, Spain, and the rest of Europe. Amongst these, Germany is expected
to generate the largest market share fueled by the high demand for PP from packaging,
infrastructure & construction, and automotive industries. France, on the
other hand, is likely to showcase increasing demand from the pharmaceutical and
healthcare industries for the production of drug delivery systems, as well as
medical devices and equipment. Italy would also exhibit considerable growth in
the near future backed by the increasing demand from the automotive industry.
Competitive
Landscape-
Key
Players Aim to Gain Competitive Edge by Launching Unique Products
The market houses a large number of
industry giants that are participating in the strategies of novel product
launches and construction of new production lines. Such strategies are helping
them to gain a competitive edge and wide consumer base across Europe. Below are
a couple of the latest industry developments:
Request a sample PDF ( includes
COVID-19 Impact Analysis):
·
June 2019: LyondellBasellcommences
the building of its fourth PP production linein Thailand. The company is doing
so through HMC Polymers Company Limited, its joint venture.
·
October
2018: SABIC launches its latest ultra-high melt flow PPthat is best
suitable for personal hygiene applications. It is meant for lightweight
breathable non-woven fabrics.
Fortune
Business Insights™ presents a list of all the polypropylene manufacturers
operating in the Europe market. They are as follows:
•
LyondellBasell Industries N.V. (Netherlands)
•
ExxonMobil Chemical (U.S.)
•
China National Petroleum Corporation (China)
•
INEOS (UK)
•
China Petroleum & Chemical Corporation
(China)
•
SABIC (Saudi Arabia)
•
Ducor Petrochemicals (Netherlands)
•
Reliance Industries Limited (India)
•
Formosa Plastic Group (Taiwan)
•
Total S.A. (France)
•
Braskem (Brazil)
•
BASF SE (Germany)
•
Repsol (Spain)
•
Borouge (UAE)
•
Borealis AG (Austria)
•
MOL Group (Hungary)
•
Beaulieu International Group (Belgium)
•
Other key players
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