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PPP Impact Report 2017

Jobs and Growth in Europe – Realizing the Potential of Photonics

II. Jobs and Growth –

II. Jobs and Growth – Economic Impact of the Photonics PPP II. 1 Ensuring Growth and Competitiveness of the European Photonics industry Fig. 9: Growth of the Production Volume of the EU Photonics Industry. The EU Photonics production demonstrated a solid long-term growth rate of 5% p.a. in the period 2005–2015. Source: Optech Consulting Market Research Study 24/01/2017. The Photonics PPP addresses all photonics segments, from production technology, medical technology & life sciences to lighting, displays and defence & security. Only Photovoltaics is not covered by the PPP, as Photovoltaics R&D is being supported in the energy area of Horizon 2020. Assessing the impact of the Photonics PPP does therefore mean concentrating on development and performance of the European Photonics Industry without the Photovoltaics segment. All Data used in this report therefore exclude the Photovoltaics segement. About 62% growth in the last 10 years The European Photonics Production accounted for €66.7Bn in 2015 – compared to €41.1Bn in 2005. This represents an overall growth of about 62% over this period and an average CAGR of 5%. However, the growth rate had not been constant over that time, decreasing from 5.7% from 2005–2011 to 3.9% from 2011 to 2015. The slowdown of the growth rate of the Photonics industry in the period 2011–2015 is primarily due to currency effects and the devaluation of the Euro vs the US dollar, as well as to increasing competition from China in the global Photonics production and an overall less favourable economic conjuncture in Europe in the period 2011-2015. 29 EU Photonics Industry Eliminang the strongly fluctuang PV industry EU photonics industry demonstrated a solid long-term 5% growth rate 80% 70% 60% 50% 40% 30% 20% 10% 0% 2005 Long-term CAGR 5.0% CAGR CAGR 41.1 5.7% 57.3 3.9% 66.7 Source: Optech Consulng Market Research Study 24.1.2017 Producon Volume in Euro 2011 2015 Fig. 10: Multiples: Growth of European Photonics Industry vs. GDP. The EU Photonics industry was able to outgrow GDP levels in the period 2005–2015. Reflecting the fact that EU GDP and Euro Area GDP grew more slowly than World GDP in that period, the multiples growth rates are quite lower when referring to global levels. However, the European Photonics Industry grew stronger than GDP, even in the period 2011–2015 when having faced strong competition from China, as well as suffered from the strong devaluation of the Euro compared to the US dollar. Source: Optech Consulting Market Research Study 24/01/2017. European Photonics Production Growth rate more than 3.5 higher than EU GDP Growth rate The European Photonics Production grew much stronger than industrial production in Europe in general, which nearly stagnated in the EU28 in the period 2011–2015 with a CAGR of only 0.1%. 30 The growth rate of the European Photonics industry has been also higher than the growth rates of EU GDP (3.7 times multiple growth rate) or global GDP European (1.5 times Photonics multiple Industry growth rate) in that period. Looking into the long-term performance from 2005-2015 EU Photonics industry was able to demonstrate about twice of the average long-term global GDP growth of 2.8%. Eliminang the effects from PV which is not subject of the PPP European Photonics Industry was able to outgrow GDP levels vs. World GDP vs. EU GDP vs. Euro Area GDP Mulples 2005–2011 Mulples 2011–2015 Mulples 2005–2015 Success story Mulples: Growth of European Photonics Industry vs. GDP 1.5 1.8 2.0 0 1 2 3 4 5 6 Cobiophad – rapid allergy detector to beat penicillin deaths 3.7 4.6 4.7 5.3 5.4 5.7 Sufferers of hypersensitivity to common antibiotics like penicillin and amoxicillin will soon find help with a new allergy detector, a low-cost, bio-photonic device that will be 6 times faster and 100 times more efficient than current technology, providing more targeted treatment for millions of patients. More 29 Optech Consulting Market Research Study 24.1.2017. 30 | PPP Impact Report 2017 Jobs and Growth in Europe – Realizing the Potential of Photonics | 31

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