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. 

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.

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.

Research Methodology

The market study of the European thermoplastics 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 is intended for manufacturers of personal care products and ingredients 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 integrating different models. 

Market Segmentation:

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

The Report covers:

• Comprehensive research methodology of the European thermoplastics 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 thermoplastics market.
• Insights about market determinants which are stimulating the European thermoplastics market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.