LONDON, Feb. 2, 2016 /PRNewswire/ -- Europe thermosetting plastics production is currently estimated to be XX million tonnes in 2014 and is expected to reach XX million tonnes by 2020 showing a compound annual growth rate of XX%. Germany currently dominates the European market for thermosetting plastics.
Europe ranks second in the global plastics materials production. Two thirds of plastics demand in Europe is concentrated in five countries, namely Germany, Italy, France, U.K., and Spain. In 2014 plastics production is still below pre-crisis level.
Our thermosetting plastics current data shows that Europe remains interesting as locations for research and development and also important as sales markets. Furthermore the establishment of new production capacities is expected to drive the market in the region.
Thermosetting plastics are used in an increasing number of markets – from Construction, Adhesives & Coatings, Electrical & electronics, Automotive & transportation and a number of other segments.
In the next five years, both production and demand will continue to grow and will be the principal driver for Europe thermosetting plastics demand to 2020. The rapid increase in downstream processing capacity additions, primarily geared towards export markets, will be the main driver of the demand in the future. The study indicates that innovations in packaging, rising living standards and population, growing demand in end user markets, and emerging economies are anticipated to boost the industry.
The industry is expected to face certain challenges such as regulatory standards to reduce CO2 emissions, fluctuation of crude oil prices, and product commoditization.
What the report contains
The report elucidates the situation of thermosetting plastics around the world and studies the markets of the thermosetting plastics type which include Alkyds (Polyester resin), Epoxies (Epoxy resin), Epoxies (Epoxy resin), Polyurethane and others.
Lastly, the report is divided by countries - Germany, United Kingdom, Italy, France and rest of Europe; where-in the market share of each region is analyzed and estimates are provided for the next 5 years. The various applications of thermosetting plastics have been discussed in detail in addition to a comprehensive overview of the market.
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