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European polymer market outlook is bleak

Views: 5     Author: Site Editor     Publish Time: 2019-10-15      Origin: Site

Author: Shaw Source: China Chemical Industry News October 8, 2019

Recently, AMI Consulting's latest report \"European Polymer Demand in 2019\" shows that by 2023, European polymer demand will grow at a rate of 1.5% per year.

The European Commission’s goal is to make all packaging plastics recyclable by 2030 and require the industry to voluntarily take the lead. In addition, in March 2019, the European Parliament signed a bill prohibiting the use of disposable plastic products such as plates, cutlery, straws and cotton swabs. The ban will take effect in 2021. By 2025, plastic bottles must also contain at least 25% recyclable ingredients, and by 2030 the proportion of recyclable ingredients will reach 30%. Whether through legislation or due to consumer pressure, the packaging industry will face major adjustments in the coming years.

In addition to the packaging industry, factors specific to other plastic terminal applications are also changing. Western Europe is a mature market and cannot rely on economic development to promote the growth of plastics demand. Manufacturers must continue to innovate and position themselves in different ways to succeed. The situation in China and Europe is different. The economy is growing faster and disposable income is increasing, which greatly promotes domestic demand. For manufacturers supplying the rest of the EU, Central Europe is still an attractive investment area.

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