The German plastics market is projected to grow at a CAGR of 4.1%, during the forecast period. Germany is the largest economy in Europe and the 4th largest economy globally. In 2016, the country had the highest demand for plastic in Europe with 25% of 50 million tons. It is also the most preferred FDI destination for plastic industries in Europe; as out of 768 projects projected related to plastic in Europe during 2012-2017, 20% were of Germany. Several large companies related to plastic and chemicals have headquarters in Germany including BASF and Evonik Industries.

The German 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. 

Furthermore, some of the key players in the market include BASF SE, INEOS AG, Cleanse Corp., Braskem SA, Evonik Industries AG, and MBA Ploymers Inc. 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 July 2020, Celanese Corp. declared the establishment of a European Compounding Center of Excellence at the Company’s Forli, Italy facility This comprises the intended consolidation of its compounding operations in Kaiserslautern, Germany; Wehr, Germany; and Ferrara Marconi, Italy. This move is being aimed to further optimize the manufacturing footprint across the globe for its engineered materials facilities. 

Research Methodology

The market study of the German 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 integrating different models. 

Market Segmentation:

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

The Report covers:

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