INEOS, SABIC, and Exxon Mobil Corporation are Dominating the Europe Molded Plastics Market in 2019

Europe Molded Plastics Market is expected to grow with the CAGR of 5.2% in the forecast period of 2020 to 2027. The years considered for study are as mentioned below.

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Europe molded plastics market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased various strategic developments owing to favourable market scenario.

The major players dealing in Europe molded plastics market are introducing strong range of product portfolio. This helped company to maximize the sales with enhanced product portfolio. For instance, in March 2020, BASF SE announces the advancement of its extended polypropylene foam (EPP) Neopolen product line. The new Neopolen P 9235 + content provides improved surface characteristics, 20% deepening of color printing and an enhanced fabrication filling efficiency relative to existing grades. The new grade has chemicals and oil resistant, thermally insulated and with a low intake of water. The fragments of foam are accessible as packaging or loose stock.

INEOS is the dominating player in Europe molded plastics market. The other key players existing in the market includes Exxon Mobil Corporation, LyondellBasell Industries Holdings B.V., DuPont, SABIC, Solvay, Eastman Chemical Company, Chevron Phillips Chemical Company, BASF SE, The Chemours Company, Westlake Chemical Corporation, SIBUR, LANXESS, Versalis S.p.A., and Indorama Corporation among others.

INEOS:

INEOS headquartered in London, U.K. was founded in 2016. The company is engaged in the manufacturing of chemical intermediates for plastics, textiles technology, medicines, mobile phones, chemicals. The company deals in various business segments such as O&P North America, O&P Europe, chemical intermediates in which the market focused business segment is chemical intermediates. The company provides various products such as compound Eltex P, EBA, EMAA, HDPE eltex, HDPE, HDPE eltex superstress, HDPE rigidex, HDPE eltex MED, HDPE eltex Tub, heat seal eltex P, HPP, HPP eltex, HPP eltex MED, HPP eltex P, HPP powder eltex P, ICP, ICP eltex Tub, ICP rigidex P, ICP eltex, ICP eltex P, LDPE, LDPE eltex MED, LLDPE, LLDPE eltex, MDPE, mLLDPE, mLLDPE eltex PF, mLLDPE eltex TUB, RCP, RCP eltex MED, RCP powder eltex P among which the market focused products are compound eltex P, EBA, EMAA, HDPE eltex, HDPE, HDPE eltex superstress, HDPE rigidex, HDPE eltex MED, HDPE eltex TUB, and heat seal eltex P.

For instance,

  • In September 2019, INEOS has announced the completion of the acquisition of the entire composite business from Ashland Global Holdings Inc. The purchase also includes a German BDO facility. The firm aim was to produce variety of gel coats and reinforced plastic (RP) with corrosion resistant fiberglass. The BDO plant creates key intermediates for high performance polyesters and polyurethanes and has ran by the company INEOS Solvents.

The company has wide presence across North America, and Europe. In addition to it, the company also generates its revenue from the various subsidiary companies such as Belstaff (U.S.), INEOS Upstream Limited (U.S.), INEOS Olefins & Polymers USA, LLC (U.S.), Ineos Styrolution America LLC (U.S.), Ineos NV (U.S.) and among others.

SABIC:

SABIC headquartered in Riyadh, Saudi Arabia and was founded in 1976. The company engaged in manufacturing of product for the construction, medical devices, packaging, agri-nutrients, electrical and electronics, transportation and clean energy. The company deals in various business segments such as petrochemicals and specialties, agri-nutrient, hadeed in which petrochemicals and specialties is the market focused business segment. The company provides its products under different categories such as polymers, chemicals, agri-nutrients, metals, specialties among which the market focused products lies under polymers.

For instance,

  • In February 2020, SABIC highlighted its experience, displayed its big construction goods and underscored its role in promoting significant potential projects during its sponsorship of the Future Projects Forum (FPF) organized by the Saudi Contractors Authority in Riyadh from 25th to 26th February. The conference, established under the patronage of Prince Muhammad bin Abdulrahman, Deputy Governor of Riyadh, in the presence of SABIC General Manager of Mega Projects Eng. Abdulaziz Alqahtani participated in 35 agencies. The conference enhances the company establishment in the region.

The company has presence in North America, Asia-Pacific, Europe, Middle East and Africa, and South America. In addition to it, the company also generates its revenue from the various subsidiary companies such as SABIC Industrial Investments Co. and affiliates (Saudi Arabia), SABIC Luxembourg SARL and affiliates (Saudi Arabia), Arabian Petrochemical Company and the company's affiliates (Saudi Arabia), Saudi Iron & Steel Company (Saudi Arabia), SABIC Sukuk (Saudi Arabia) among others.  

Exxon Mobil Corporation:

Exxon Mobil Corporation headquartered in Texas, U.S. was founded in 1859. The company is engaged in manufacturing of raded energy providers and chemical manufacturers, develops and applied with next-generation technologies. The company deals in various business segments such as upstream, downstream, and chemical in which chemical is the market focused business segment. The company provides its products under different categories such as upstream, chemicals, downstream, natural gas and power marketing among which the market focused products lies under chemicals.

For instance,

  • In July 2019, Exxon Mobil Corporation began development of new high-performance polypropylene line in its factory in Beaumont, Texas. This raises the output of plants by 65% or 650,000 tonnes per year, bringing production size to approximately 1.7 million tons per year. This expenditure of several billion dollars will help tackle high polyethylene, especially high-performance items used for liquid and food packaging, liners and agricultural films.

The company has presence in North America, South America, Europe, Middle East and Africa, and Asia-Pacific with its various subsidiaries namely Abu Dhabi Petroleum Company Limited (U.K.), Ampolex (CEPU) Pte Ltd (Singapore), Ancon Insurance Company, Inc. (Vermont), Barnett Gathering, LP,(U.S.), BEB Erdgas und Erdoel GmbH (Germany) among others.