European production fell in 2023, that of the rest of the world increased again

“These figures contrast with global plastic production, which for its part increased by 3.4% last year, which highlights that Europe’s share has fallen further to reach only 12% of the market. global compared to 14% in 2022,” the organization underlined in a press release. “If it has maintained a positive trade balance in value, Europe has also become for the first time a net importer of plastic resins in volume in 2022 and of finished plastic products from 2021,” adds the text.

Increase in imports

Between 2020 and 2023, exports of European plastic resins fell by 25.4%. “This shift threatens the viability of the European plastics value chain, which today employs more than 1.5 million people in 51,700 companies and has achieved more than 365 billion euros in turnover in the EU in 2023,” adds Plastics Europe.

Main reason given for this decline: “the sudden increase in imports” of much cheaper resins in Europe, “from regions where environmental standards are less strict” such as in Asia, and/or from countries where energy is much cheaper, like in the United States.