German market research agency Ceresana is publishing a new study on the situation in the European plastics market. The company is presenting the report at this year’s Fakuma trade fair, which takes place from October 13-17 in Friedrichshafen, Germany. This latest analysis is the first time that all commercially significant plastics—from standard products, such as polyethylene, polypropylene or PVC, to engineering plastics, such as ABS or fluoropolymers to bioplastics—have been covered in a single comprehensive market study, said Ceresana.
Entitled “Market Study— Plastics— Europe”, the report does not include synthetic fibers nor their use in paints and varnishes, adhesives and sealants. In addition, synthetic resins, such as epoxy, phenolic, melamine and urea formaldehyde resin, as well as silicones, have also been excluded.
According to Ceresana, the European plastics market is “worth billions” reaching a volume of over 53 million metric tons in 2014. Based on the demand volume and price development for the various individual types of plastics, sales are projected to rise at average growth rates of 2.9% p.a. to about €104 billion in 2022.