As-Market-Share-Declines-The-European-Plastics-Industry-Is-In-Trouble
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As Market Share Declines, The European Plastics Industry Is “In Trouble

According to a recent industry report released on Tuesday, the global plastics production landscape has seen notable shifts, with Europe experiencing a decline in its share while China’s output has surged to encompass a third of the market.

Over the period from 2006 to 2022, Europe’s contribution to global plastics production dwindled from 22 percent to 14 percent, as outlined in the annual report by Plastics Europe. Conversely, China’s share saw a significant increase from 21 percent to 32 percent during the same timeframe.

Expressing concern over these developments, Jean-Yves Daclin, the leader of Plastics Europe operations in France, drew attention to the challenges faced by the European plastics industry. The group’s report, titled “Circular Economy for Plastics,” shed light on a widening competitiveness gap between Europe and other regions worldwide.

Daclin attributed this decline to the escalating imports from China and the United States in recent years, indicating a shifting dynamic in the global plastics market. In 2022, the European Union, comprising 27 member states along with Britain, Norway, and Switzerland, collectively produced 58.8 million metric tons of plastic.

Similarly, North America’s global share witnessed a drop from 24 percent in 2006 to 17 percent in 2022. Meanwhile, regions such as Asia (excluding China and Japan), Oceania, Turkey, and Ukraine together accounted for 19 percent of the global market in 2022, up from 14 percent in 2006.

Furthermore, the Middle East and Africa regions have seen a notable increase in their combined share, rising from six percent to nine percent. However, Japan’s contribution decreased by half to three percent, and Latin America experienced a slight decline to four percent.

In terms of sustainability efforts, the report indicated that 26.9 percent of European plastic waste is currently being recycled. Additionally, there is ongoing international attention toward combating plastic pollution, with 175 countries aiming to reach a binding agreement by 2024.

Despite recent negotiations hosted by Kenya in November, which aimed to address this issue, disagreements arose regarding the framework and progress of the proposed pact. This has led to frustration among environmental groups over delays and a perceived lack of advancement in combating plastic pollution.

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