MOSCOW (MRC) -- Europe Polyolefins market is expected to reach USD63,219 million in 2018, as per Micro Market Monitor, reported Plastemart.

 

The European polyolefin market is estimated to witness a CAGR of around 7% during the forecast period.

 

Germany dominates the European polyethylene (PE) market with a market share of nearly 30% in 2013, followed by Italy and France.

 

Growing demand from the packaging and construction industry is the driving factor for this market.

 

As MRC informed before, PE demand is forecast to rise by approximately 3.7% pa between 2013 and 2018, at a slightly higher level than its growth during the 2003-2013 period, as per GlobalData.

 

The report states that this higher than historic increase will happen in the US and Europe, and primarily Russia. The US is forecast to witness a 2.4% growth rate pa in comparison with its 0.7% levels in the previous 10 years. Demand in Europe, including Russia, is expected to climb at 2.8%pa from 2013-2018, almost three times the level witnessed during the last decade. Global data believes that these demand rises in the US and Russia will be somewhat offset by a lower increase of 4.8% in Asia, compared to the 6% rate during the 2003-2013 period. This will be primarily due to the region's slower economic growth.