UK plastics market is anticipated to project a CAGR of 2.3%, during the forecast period. The UK is one of the significant market players operating in the European plastic market. The country is significantly working in the field of material and additive manufacturing, food and beverages, pharmaceutical, and cosmetics among others. A wide range of reprocessing technologies and equipment are being examined due to cohesive government regulations. As per the International Trade Association, around 7.0% of manufacturing activities in the country account for the plastic industry each year. More than 6,200 firms are engaged in the plastic industry in the country. It includes producers of plastics raw materials, and additives, and the end-user industry.

UK 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, Saudi Basic Industries Corp. (SABIC), INEOS AG, Solvay SA, and Koniklinkje DSM N.V. 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 June 2020, INEOS announced to acquire BP’s global Aromatics and Acetyls business for $5 billion. Aromatics offers the building blocks for the global polyester industry, which is key to fibers, films, and packaging. Acetyls enables a broad range of downstream industries in food flavoring and preservation, pharmaceuticals, paints, adhesives, and packaging. The acquisition of BP’s global Aromatics and Acetyls business is a development of its current petrochemicals business, expanding its interest in acetyls and integrate aromatics business, encouraging the global polyester industry.

Research Methodology

The market study of the UK 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. UK Plastics Market Research and Analysis by Type
2. UK Plastics Market Research and Analysis by Application

The Report covers:

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