IndustryARC updated the market research study on “Europe Polypropylene Market ”- Forecast (2024 - 2030)
The Europe Polypropylene Market size is forecast to reach US$22.6 billion by 2027, after growing at a CAGR of 3.2% during the forecast period 2022-2027. Polypropylene is?a thermoplastic, which is made from the polymerization of propylene monomers. It is an essential class of polyolefins resins and is of two types - homopolymer and copolymer. Polypropylene, polylactide, and polyethylene plastics are utilized in various applications in the end-use industries. Food & beverages, medical & healthcare, and other industries require polypropylene for packaging applications which is driving the market growth. Moreover, the requirement for polypropylene for the production of carpet textiles, bumpers, cable insulations, and others, will further drive the demand for the Europe polypropylene industry in the forecast period. The global economic downturn caused by the COVID-19 pandemic resulted in a huge drop in demand for automobiles, textiles, consumer goods, and others, all across the world, which had a significant impact on the growth of Europe's polypropylene market size.
Report Coverage
The “Europe Polypropylene Market Report – Forecast (2022 - 2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Europe polypropylene industry.
By Type: Homopolymer and Copolymer
By Process: Injection Molding, Blow Molding, Extrusion, and Others
By Product Type: Mouldings, Fibres, Tape, Film, Foam, and Others
By Application: Battery cases and Trays, Bumpers, Fender liners, Packaging (Flexible Packaging and Rigid Packaging), Interior Trim, Instrument Panels, Door Trims, Fibers and Fabrics, and Others
By End-Use Industry: Automotive (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicle), Building & Construction (Residential Construction, Commercial Construction, Industrial, Infrastructure), Electrical & Electronics, Agriculture, Textile & Apparel, Medical & Healthcare, Furniture, Consumer Goods, Food & Beverages, and Others
By Country: UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and the Rest of Europe
Key Takeaways
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Europe Polypropylene Market Segment Analysis – by Application
The packaging segment held the largest Europe Polypropylene Market share in 2021 and is estimated to grow at a CAGR of 3.6% during the forecast period 2022-2027. The growing demand for convenient packaging, the growing online food delivery market, growth of the e-commerce business, is anticipated to boost the demand for the packaging sector. Polypropylene is a thermoplastic polymer, which is extensively used in plastic packaging and is an important family of polyolefin. Since polypropylene does not leak any chemicals into the food, therefore, it is primarily used in food packaging applications, where zero contact with food and beverages is required. Also, it is utilized in water bottles, steering wheels, toys, and other applications. Moreover, the food processing industry is growing, for instance, in the Netherlands, it is one of the national economy’s most dynamic sectors, representing about US$94 billion in market value in 2020. There are around 6930 companies in the Netherlands engaged in the food processing sector, which is more than 6% from 2019, and therefore, it is rising demand for the Europe polypropylene market, as a food packaging material. Thus, with the growing demand for packaging and its growing sector, the?Europe polypropylene market size?will further rise over the forecast period.
Europe Polypropylene Market Segment Analysis – by End-Use Industry
The Food & Beverages industry held the largest Europe Polypropylene Market share in 2021 and is estimated to grow at a CAGR of 3.4% during the forecast period 2022-2027. Owing to the changing lifestyles and busy schedules of the people, are rising the requirement for processed food items. The manufacturers are therefore compelled to utilize effective packaging solutions to provide a longer shelf-life and prevent spoilage of food items. Due to external and internal factors, polypropylene is capable of protecting food and beverages from becoming stale. Polypropylene acts as a moisture barrier and also protects food products from temperature fluctuations and UV rays. The food & beverages industry is growing, for instance, in May 2021, Bunge Loders Croklaan invested more than EUR 300 million (US$ 346.5 million) to build a new sustainable food processing facility in Amsterdam, Netherlands. The development of the facility is estimated to be completed by the end of 2024. Additionally, in March 2021, Nature Bio Foods BV (NBF BV) launched its organic food processing plant in Rotterdam, Netherlands. The new facility of Nature Bio Foods aims at providing organic food ingredients to customers throughout the country. Thus, the growing food & beverages industry will require more polypropylene for packaging purposes, which will drive the Europe polypropylene market growth during the forecast period.
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Europe Polypropylene Market Segment Analysis – by Country
Germany?dominated the Europe Polypropylene Market share by 32% in 2021. Germany is one of the largest markets for polypropylene, due to the growing food & beverages, automotive, and building & construction sectors, for instance, according to Germany Trade and Invest (GTAI), in 2020, total food retailing revenue grew significantly by 8.2 percent, reaching EUR 227 billion (US$236.43 billion), and the industry enlarged production capacities and adjusted supply chains to meet demand patterns and changing production. Also, in August 2021, Ford commenced the development of its automobile plant in Germany. The new facility aims at increasing electric vehicle production and will be responsible for the assembly of a new electric vehicle in the country. The facility construction is scheduled to be completed by end of 2022. Moreover, the high volume of construction activities owing to the increase in investment is continuing the appeal of the new-build market in Germany. For instance, according to German works, annual investment in construction has been growing steadily since 2015, there is a gradual growth in construction which is getting constructed every year from 1.6% in 2015 to 5.9% in 2020. Plastics such as polypropylene, polylactide, and polyethylene, are utilized in carpet textiles, insulating building wraps, cable insulation, automobile interior wrapping, and other applications in automotive and building & construction sectors, due to their characteristics such as flexibility, tensile strength, and excellent moldability. Therefore, the growing end-use industries have increased the usage of polypropylene and are proving to be a market booster for Europe polypropylene market size in this country.?
Europe Polypropylene Market Drivers
Surging Building and Construction Industry:
In the building and construction industry, polypropylene finds usage in numerous applications such as in air and moisture barrier membranes, carpet textiles, insulating building wraps, industrial adhesives and tapes, piping, and others. In recent years, with the rising building and construction activities, the demand for homopolymer and copolymer polypropylenes is also set to rise. The building and construction industry is growing, for instance, the construction Purchasing Managers Index (PMI) rose to 50.7 in April of 2022 from 48.4 in the prior month, indicating renewed growth of construction activity across France. Also, In May 2020, Eiffage Construction, as part of a consortium with Groupe Hospitalier Nord-Essonne, has secured a US$148.53 million contract to design, build and maintain Paris-Saclay hospital, which is expected to be finished in late 2023. Moreover, according to the estimates from the National Association of Building Contractors (ANCE), in 2021, the Italian construction industry rose by 8.6%, owing to the increased redevelopment of existing stock for housing purposes (+14%), new housing construction (+3,5%), and a corresponding rise in both private non-residential construction investments (+5%) and public works (+7.7%). Thus, increasing building and construction activities in Europe will require more applications made from polypropylene, which will drive the demand for the Europe polypropylene market during the forecast period.
Rapidly Rising Demand for Automotive:
In the automotive industry, polypropylene is used in bumpers, cable insulation, interior wrapping, wheel covers, chemical tanks, and carpet fibers. It exhibits properties such as high moldability, tensile strength, and flexibility. Also, polypropylene helps to lower the weight of the vehicle and increase fuel efficiency. The production of automobiles is rising, for instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), the total automobile production in France including cars and commercial vehicles reached 13,51,308 units in 2021, an increase of 3% from 13,16,371 units in 2020. Moreover, in September 2021, Silk-FAW began the development of a new plug-in hybrid car manufacturing plant in northern Italy. The production of vehicles is scheduled to begin in 2023. The total automobile production is expected to reach around 400 units over three years. Thus, increasing automotive production in Europe will require more automotive components made from polypropylene, which will drive the demand for the Europe polypropylene market during the forecast period.
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Europe Polypropylene Market Challenges
Increasing Plastic Recycling Trend:
Polypropylene is the most commonly produced plastic material in the world on a large scale. However, polypropylene is non-biodegradable and is harmful to the environment. The new trend of recycling polypropylene plastic material retrains its growth. Recycling the available polypropylene lessens its production. Nowadays, polypropylene is becoming a highly recyclable material through organized efforts. Brands such as Procter & Gamble and Unilever are driving the demand for recycled polypropylene for packaging applications. Additionally, various companies are embracing this trend to increase their brand image by committing to environmental protection and zero waste. Thus, due to the increasing plastic recycling trend, the growth of the Europe polypropylene market will be hindered in the forecast period.
Europe Polypropylene Market Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies players adopt in the Europe polypropylene markets. The top 10 companies in the Europe polypropylene market are:
Recent Developments