Plastics
that are used in large volumes for various uses such as packaging, electronics,
consumer goods, photographic, magnetic tape, textile and variety of household
products are known as commodity plastics. This class of plastics exhibit
relatively low mechanical properties and are of low cost. Commodity plastic
products are plates, trays, cups, trays, medical trays, containers, printed
material and other disposable items. Europe’s commodity plastic market is
highly competitive due to the presence of multiple vendors. Almost all the
manufacturers are investing heavily in various plastic manufacturing to expand
their product portfolio to serve the extensive needs of the increasing
population in Europe.
According
to the study “Europe
Commodity Plastics Industry Situation and Prospects Research Report”,
it was observed that commodity plastic market is witnessing an increasing use
over glass materials for food and beverage packaging which has a positive
impact on growth of European market. The high-end food manufacturing units,
beverage manufacturers and alcohol manufacturers prefer commodity plastics over
glass for packaging. Commodity plastics are lightweight and safer handling when
compared with glass bottles which are fuelling growth in European commodity
plastic market.
Geographically,
Europe’s commodity plastic market is spread across Germany, Russia, UK, France,
Italy and other regions. Europe’s commodity plastic market is segmented into
PE, PP, HDPE, PVC, PET and PS. Polyethylene (PE) accounts for a major share in
the commodity plastics. The major applications of Europe’s commodity plastic
market are in packaging, consumer goods, electronics, automotive, textiles and
pharmaceuticals. Europe’s commodity plastic market targets audience such as
producers, traders, distributors, associations, government bodies, various
industries, plastic manufacturers and research institute. The leading players
in Europe’s commodity plastic market are DuPont, BASF, Sumitomo Chemical, Exxon
Mobil, China Petrochemical Corporation, The Dow Chemical Company, LG Chem,
SABIC, Royal DSM, LyondellBasell Industries Holdings, Chevron Phillips Chemical
Company, Formosa Plastics, Borealis, INEOS, National Petrochemical Company,
NOVA Chemicals, Versalis and Reliance Industries Limited.
Industrialization
is propelling the demand for various commodity plastics in Europe. The country
also imports high density polyethylene based beverage bottles for packaging.
Advanced technology coupled with innovation and new techniques in manufacturing
of polyethylene will definitely drive the European markets.
Packaging
industry accounts for a major share in the European commodity plastic market
due to properties such as combination of lightness, flexibility, ease of
sterilization, impermeability, and other features which ensure that the food
maintains its natural taste, free from external contamination. The increasing
consumption of commodity plastic is due to the increasing demand for package
foods, light weight products and easy to handle products.
It
was observed that there is a slight decline in the demand for commodity
plastics in European countries due to growing awareness in environmental
concerns and stringent regulations governing the production of plastics. This
trend may leave a huge impact on the commodity plastic manufacturers because
the population is either avoiding plastic products or prefer recycling the used
plastic products. Therefore, there may be a huge impact on production and
consumption of commodity plastic in Europe over the next few years.
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