Personal Care Products Drive High Growth In European Chemical Industry, Says New Report

The report shows that the European Union (EU), the leading chemical producer in the world till recently, has now been overtaken by Asia. However, the fall in its position couldn’t change its stand as a dominant production and Research and Development (R&D) base for the chemical industry. Not only is the region a leading chemical producer but also a primary consumer and exporter of chemicals. End Quote

(1888PressRelease) January 26, 2008 - Report Buyer, the online destination for business intelligence for major industry sectors, has now added a new report showing that the personal products market in Europe is anticipated to exceed Euro 81 billion in 2010. Consequently, the sale for consumer chemicals is projected to rise at a CAGR of over 2.8% from 2007 to 2010.

“EU Chemical Industry Analysis” (http://www.reportbuyer.com/go/RCS00184) reports that the European personal products industry plays a significant role in boosting the chemical industry. In 2005, the personal products segment (including soaps & detergents and perfumes & cosmetics) accounted for over 10% of chemical sales in the EU. This is a big share considering the use of chemicals in diverse industries. Especially the cosmetics industry, that recorded over EU€67 Billion revenue in 2006, is a vital force for the growth of consumer chemical industry in Europe.

The report shows that the European Union (EU), the leading chemical producer in the world till recently, has now been overtaken by Asia. However, the fall in its position couldn’t change its stand as a dominant production and Research and Development (R&D) base for the chemical industry. Not only is the region a leading chemical producer but also a primary consumer and exporter of chemicals.

The study notes that the textile industry is another driver of the European chemical industry. Europe makes up for around 28% of the global textile market’s value. In 2005, the European textile business hit EU€54.5 Billion in revenue with synthetic fibres accounting for around 46% of the cumulative value of the industry, thus emerging as an attractive segment.

EU is the second largest chemical consumer globally after Asia. The report has looked into the factors responsible for high chemical consumption in the region and detailed those industries leading to huge chemical demand, including automobile, construction and cosmetics.

Cosmetics and textile industries are just part of the extensive report “EU Chemical Industry Analysis”. It also discusses various industries relying on the chemical industry and examines the EU countries.

“EU Chemical Industry Analysis” is available from Report Buyer.

Report Buyer product ID: RCS00184

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