Europe Polypropylene Market will exhibit a CAGR of 2.1% and reach USD 17.65 billion by 2027, and the market value as per 2019 was USD 16.76 billion.

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.”

Europe Polypropylene Market Drivers and Restraint :

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.

Some of the Key Players of the Market for Europe Polypropylene include:

• LyondellBasell Industries N.V. (Netherlands)
• ExxonMobil Chemical (U.S.)
• China National Petroleum Corporation (China)
• 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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Some Industry Developments of the Market for Europe Polypropylene include:

• June 2020: LyondellBasell commences the building of its fourth PP production line in Thailand. The company is doing so through HMC Polymers Company Limited, its joint venture.
• October 2020: SABIC launches its latest ultra-high melt flow PP that is best suitable for personal hygiene applications. It is meant for lightweight breathable non-woven fabrics.