Europe Polypropylene Market Size to Reach $17.65 Billion by 2027; High Demand from Food & Beverages Industry to Boost Growth

The Europe polypropylene (PP) market size is projected to reach USD 17.65 billion by 2027. It is expected to gain impetus from the increasing demand from the food and beverage industry to cater to the needs of the rising population. Fortune Business Insights™ provided this information in a new report, titled, “Europe Polypropylene Market Size, Share & COVID-19 Impact 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 mentions that the market stood at USD 16.76 billion in 2019. But, it is set to exhibit a CAGR of 2.1% during the forecast period between 2020 to 2027.  

INEOS Invests €3 Billion in Construction of Petrochemical Facility in Antwerp

In January 2019, Europe’s largest petrochemicals company named INEOS declared that it is investing €3 billion in the construction of its new petrochemical facility in Antwerp. It will help the company in bringing about huge benefits to Belgium and the other European countries. At the same time, it would pose as a game changer in the chemical sector and would reverse the years of decline. As per the company officials, Belgium will be the location for the company’s world-scale PDH and ethane gas cracker. It presently has 9 manufacturing sites, employing 2500 people.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/europe-polypropylene-market-103475

Usage of Effective Packaging to Prevent Spoilage of Food will Favor Growth

In Europe, the rising population is resulting in the skyrocketing demand for food products. Also, the busy lifestyles of the masses are surging the need for processed foods consisting of longer shelf-lives. Hence, the PP manufacturers are developing effective packaging to prevent spoilage of food. Such food items often have information regarding their expiration date, cooking time, and contents. PP possesses elongation properties and has tensile strength. Thus, it becomes easy for the manufacturers to print information on the packages made out of the thermoplastic polymer. These factors are expected to boost the Europe polypropylene market growth in the coming years. However, the extensive usage of substitute products such as polyethylene terephthalate and polystyrene possessing properties similar to PP may hamper the market growth.

Key Players Focus on Developing New Facilities to Surge Production Capacity

The market houses several companies that are presently investing hefty amounts of money in the construction of new facilities. This strategy is helping them to increase their production capacity to cater to the growing demand from the customers.

Fortune Business Insights™ lists out the names of all the prominent PP manufacturing companies operating in the market in Europe. 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

A Significant Industry Development-

• March 2019: ExxonMobil announced its plan to provide funds for the construction of a new polypropylene production unit located in Baton Rouge, Louisiana. It is expected to increase the production capacity by 450,000 tons per year and create more than 600 job opportunities during construction.  

Further Report Findings-

• Germany is set to exhibit the highest share in the near future backed by the high demand from industries, such as packaging, infrastructure & construction, and automotive.


• France is anticipated to show significant growth fueled by the increasing demand from the pharmaceutical and healthcare industries for the manufacturing of medical devices, equipment, and numerous drug delivery systems.


• By end-use industry, the automotive segment procured 14.0% in terms of Europe PP market share in 2019. This growth is attributable to the surging usage of PP for producing the parts and components of vehicles and it raises fuel economy.


• The agriculture and consumer goods/lifestyle segments held 6.1% and 7.0% in terms of market share in 2019, respectively.

The Europe polypropylene market can be segmented in the following way: