The European thermoplastics market will see considerable growth during the forecast period. The region has the presence of a large sum of end-use industries of plastics, predominantly packaging, chemical, and automotive. Therefore, there is a rising concern and focus on the recycling of thermoplastics. European Union (EU) is focusing on a more ‘circular’ approach. It will cover all prospects of the plastic industry starting from production to waste management.
A revised legislative framework on waste came into force in July 2018, with a target to reduce waste in the region. As per the revised proposal, by 2035, 65% of the municipal wastage should be recycled, 70% of the packaging waste should be recycled by 2030, and municipal waste landfill should be limit to a maximum of 10% by 2035 in the region. It will lead plastic manufacturers to develop more eco-friendly products which can be recycled easily.
Browse the full report description of "European Thermoplastics Market Size, Share & Trends Analysis Report by Type (Polyethylene (PE), Polypropylene (PP), Polystyrene (PS), Polyvinylchloride (PVC), Polyethylene Terephthalate (PET), and Others) and by Application (Packaging, Building & Construction, Automotive, Electrical & Electronics, Household, Leisure & Sports, Agriculture, and Others), Forecast 2020-2026" at https://www.omrglobal.com/industry-reports/european-thermoplastics-market
The market players are significantly introducing a new sustainable plastic product in the market. For instance, in August 2019, Magnum, Unilever’s major ice-cream brand launched tubes that contain recycled polypropylene (PP) plastic. However, the percentage of recycled content has not been mentioned. The tubes were developed in partnership with SABIC. In 2019, the company had 600,000 tubes across the European region, majorly in Belgium, Spain, and the Netherlands. In 2020, around 3 million more tubes are expected to be rolled out by the company. The company aims that at least 25% of plastic packaging will be from post-consumer recycled content by 2025.
Market Coverage
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Report Elements |
Details |
|
Study Period |
2019-2026 |
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Base year |
2019 |
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Forecast period |
2020-2026 |
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Segments Covered |
By Type and By Application |
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Countries Covered |
UK, Germany, France, Italy, Spain, and Rest of Europe |
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Key Companies Profiled |
BASF SE, INEOS AG,
Solvay SA, Evonik Industries AG, Konklinkje DSM N.V., and LANXESS AG |
Key questions addressed by the report
o Recovery Timeline
o Deviation from pre-COVID-19
o Most affected region/segment
o Recommendations
European Thermoplastics Market – Segmentation
By Type
By Application
European Thermoplastics Market – Segmentation by Geography
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