Europe Commodity Plastic Market
Europe is the third largest consumer as well as producer of commodity plastic in the world, accounting for around 18% of the market volume in 2015. With recovery in the global economy and reviving demand for commodity plastic, the market is expected to perform well in the years to come. The market in Europe is heavily regulated, with REACH (Registration, Evaluation, Authorization, and Restriction of Chemical Substances) closely monitoring and issuing guidelines to ensure a high level of protection for the environment and human health from the risks that can be posed by chemicals. The commodity plastic market in the European region is highly regulated. The stringent regulatory framework adopted by REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) has resulted in a steady decline in the use of high VOC emitting commodity plastic.
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Adverse market forces include disruptions in raw material supplies and rising raw material and energy costs. Regulatory compliance requirements continue to prevail around the world, which puts further constraints on formulators and raw material suppliers.
Growth in the European market for commodity plastic was largely derived from high demand in Germany, France, and U.K. The commodity plastic industry observed consistent demand from these nations owing to their vast industrialization. Germany is the leading market for commodity plastic in the region, with 24% of the total European market during 2015, while France settled at third position after UK.
In the European market, Germany has emerged as the leading country in terms of consumption and production followed by UK, France and Italy.
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Market Research future through this report aims to provide understanding of the Europe Commodity Plastic Market on the basis of types and application, and also assists identification of ongoing trends along with anticipated growth during the forecasted period. For this report, extensive primary research was conducted to gain a deeper insight of the market performance. Various industry experts and Key Opinion Leaders (KOLs) were contacted and interviewed to get an idea of Europe Commodity Plastic market.
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