European Thermoplastics Market Size, Competitive Analysis, Share, Forecast- 2020-2026

The European thermoplastics market is expected to project a considerable CAGR during the forecast period. Europe is one of the major consumers of thermoplastics globally. Significant changes in the plastic industry will be witnessed in the region during the forecast period, which in turn, will drive the thermoplastics market in the region.
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A significant government role in the plastic industry will be foreseen in the region during the forecast period to reduce plastic waste and to increase plastic recycling. European Union (EU) is focusing on a more ‘circular’ approach. In 2015, the European Commission adopted the Circular Economy Action Plan. It will cover all prospects of the plastic industry starting from production to waste management. This will lead thermoplastics manufacturers to develop more eco-friendly products which can be recycled easily.
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The European thermoplastics market is segmented based on type and application. Based on type, the market is broadly categorized into polyethylene (PE), polypropylene (PP), polystyrene (PS), polyvinylchloride (PVC), polyethylene terephthalate (PET), and others. Based on application, the market is segmented into packaging; building & construction; automotive; electrical & electronics; household, leisure & sports; agriculture; and others. The packaging is the major application of thermoplastics and is estimated to contribute a significant share to the market.
Geographically, the European thermoplastics market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Germany is the largest plastic market in Europe and is estimated to maintain its dominance with the fastest growth rate during the forecast period. The country is also the largest producer and manufacturer of thermoplastics in Europe. Moreover, the country has a significant number of plastic machine manufacturers, and rubber recycling players along with the application industries. As per Germany Trade and Invest, in Germany, there are more than 3,350 companies related to plastic out of which around 2,900 are related to plastic processing, 250 to plastic machinery, and 200 to plastic production.
Furthermore, some of the key players in the market include BASF SE, INEOS AG, Solvay SA, Evonik Industries AG, Konklinkje DSM N.V., and LANXESS AG. These companies are using several strategies to expand market share and gain a competitive advantage over their competitors. The strategies include new product launches, mergers and acquisitions, partnerships, and collaborations. For instance, in August 2020, LANXESS AG launched a new range of MDI polyether prepolymers containing renewable, bio-based raw materials. Marketed under the brand name Adiprene Green, the products are suitable as a replacement for existing fossil-based polyether prepolymers to manufacture highly durable polyurethane (PU) elastomers.
Market Segmentation
European Thermoplastics Market by Type
• Polyethylene (PE)
• Polypropylene (PP)
• Polystyrene (PS)
• Polyvinylchloride (PVC)
• Polyethylene Terephthalate (PET)
• Others
European Thermoplastics Market by Application
• Packaging
• Building & Construction
• Automotive
• Electrical & Electronics
• Household, Leisure & Sports
• Agriculture
• Others
Regional Analysis
• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe
Company Profiles
Arkema Group
• Overview
• Arkema Group in Europe
• Arkema group in Thermoplastics Landscape
• Recent Developments
• Asahi Kasei Corp.
• BASF SE
• Braskem S.A.
• Evonik Industries AG
• INEOS AG
• Koninklijke DSM N.V.
• LANXESS AG
• LyondellBasell Industries N.V.
• Saudi Basic Industries Corp. (SABIC)
• Sibur Holding
• Solvay SA
• Toray Group
• Total Petrochemicals & Refining SA/NV
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Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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