The European plastics market is anticipated to project a CAGR of 2.9%, during the forecast period. Europe is one of the major plastic consumers globally. Significant changes in the plastic industry will be witnessed in the region to cater to the problem of plastic waste. A slight increment has been registered in the plastic demand in the region. As per PlasticEurope, in 2018, the demand for plastic in the region was 51.2 million tons as compared to 49.0 million tons in 2015. Some of the other major countries contributing to the market include Spain, UK, Poland, Belgium, the Netherlands. Around 60,000 companies are operating in the plastic industry in the region and directly employing over 1.6 million people in 2018 in the region.

The European plastics market is segmented based on type and application. Based on type, the market is broadly categorized into thermoplastics and thermoset plastics. The thermoplastic plastic segment includes the analysis of polyethylene (PE), polypropylene (PP), polystyrene (PS), polyvinylchloride (PVC), polyethylene terephthalate (PET), and others. The thermosetting plastics include polyurethane (PUR), epoxy resins, phenolic resins, acrylic resins, and others such as unsaturated polyester, melamine resins, and vinyl ester resins. 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 plastics and is estimated to contribute a significant share to the market.

Geographically, the European plastics 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 plastic in Europe. Moreover, the country has a significant number of plastic machine manufacturers, plastics, 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 January 2020, BASF SE declared a single-digit million-euro investment in the capacity expansion of water-based polyurethane dispersions at its Castellbisbal site in Spain. The expansion will allow BASF to increase its production capacity by 30.0%.

Research Methodology

The market study of the European plastics market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Authentic public databases 
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for plastic manufacturers, raw material suppliers, resellers, traders, and distributors, construction industry, packaging industry, food & beverage industry, electrical & electronics industry, other end-users, government organizations, regulatory bodies, research institutes, and other market participants for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions. 

Market Segmentation:

1. European Plastics Market Research and Analysis by Type
2. European Plastics Market Research and Analysis by Application

The Report covers:

• Comprehensive research methodology of the European plastics market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European plastics market.
• Insights about market determinants which are stimulating the European plastics market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.