USD 13.55 billion
Europe Plastic Compounding Market Size, Share, Growth Analysis, By Product(Polyethylene (PE), Polypropylene (PP), Thermoplastic Vulcanizate (TPV), Thermoplastic Polyolefin (TPO)), By Application(Automotive, Construction, Electrical & Electronics, Packaging), By Region - Industry Forecast 2024-2031
Report ID:
SQMIR15E2524 |
Region:
Regional |
Published Date: April, 2024
Pages:
157
|Tables:
79
|Figures:
75
Europe Plastic Compounding Market Insights
Europe Plastic Compounding Market size was valued at USD 13.55 billion in 2021 and is poised to grow from USD 14.5 billion in 2022 to USD 24.91 billion by 2030, growing at a CAGR of 7% in the forecast period (2023-2030).
The market's propulsion stems from its growing applications within automotive and consumer appliance manufacturing sectors. Notably, polyurethane finds extensive use as foam cushioning material for automotive seats and insulation panels.
In Europe, the deployment of plastic finds regulatory oversight through stringent guidelines concerning plastic waste disposal enacted by the European Union (EU). Concurrently, local governments are initiating recycling initiatives for PET and PE plastics. Within Europe, the United Kingdom (U.K.) ranks as the second-largest market, spearheaded by the automotive industry.
Building and construction also commands a substantial 14.0% revenue market share in the U.K. Noteworthy, the nation's construction sector receives support from government allocations and foreign investments, revitalizing the industry.
Europe Plastic Compounding Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Automotive
Fastest Growth
Automotive
Growth Rate
7% CAGR
Europe Plastic Compounding Market ($ Bn)
Country Share for Europe Region (%)
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Europe Plastic Compounding Market Segmental Analysis
Europe plastic compounding market is segmented on the basis of product, application, region. By product, the market is segmented into polyethylene (PE), polypropylene (PP), Thermoplastic Vulcanizate (TPV), thermoplastic polyolefin (TPO), polyvinyl chloride (PVC), polystyrene, polyethylene terephthalate (PET), polybutylene terephthalate (PBT), polyamide, polycarbonate, acrylonitrile butadiene styrene, others. By application, the market is segmented into automotive, construction, electrical & electronics, packaging, consumer goods, industrial machinery, medical devices, optical media, appliances, others. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Europe Plastic Compounding Market Analysis By Application
The automotive sector commanded a share exceeding 25.0% of Europe's total revenue in 2022. The escalating integration of electronics into automobiles, coupled with surging demand for wearable devices among the younger population, is propelling the need for plastic compounds in the region. Notably, the automotive industry has witnessed an upswing in the sales of passenger cars and light commercial vehicles. To enhance overall vehicle efficiency and fuel economy, polypropylene compounds find application in reducing vehicle weight. Plastic compounds also find extensive utilization within automotive interiors, thereby augmenting demand.
The European construction industry has exhibited notable growth, buoyed by economic recovery and a steady upsurge in per capita disposable income. Plastic compounds have found widespread usage in areas like dome lights, glazing, and sound walls. Their combination of impact strength, moldability, and availability in optically transparent variants has been pivotal in penetrating the construction sector.
Europe Plastic Compounding Market Analysis By Product
Dominating the market, the polypropylene segment emerged as the leader, capturing a substantial share exceeding 29.0% of European revenue in 2022. Its ascendancy can be attributed to its pervasive presence across pivotal manufacturing domains like automotive, construction, electrical, and electronics within the European market. Notably, the surging growth within the regional automotive sector stands as the primary catalyst propelling the heightened demand for polypropylene compounds. The widespread adoption of these compounds can be attributed to their compelling attributes, encompassing cost-effectiveness, robust chemical resistance, impressive mechanical properties, and favorable moldability.
Across Europe and globally, PET claims the spotlight as the most prevalent product, experiencing rapid demand escalation. This versatile compound finds applications across automotive, packaging, textiles, and other industries. The mounting demand has spurred leading enterprises to devise strategies for PET recycling, effectively addressing concerns related to its disposal. Furthermore, the emergence of bio-based PET holds the promise of furnishing a much-sought solution for internal substitution, ushering in an era of enhanced sustainability within the industry.
Europe Plastic Compounding Market By Application
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Europe Plastic Compounding Market Regional Insights
Germany's market dominance is unmistakable, commanding a commanding share of over 26.0% in the European revenue landscape during 2022. The prowess of Germany is deeply rooted in its flourishing plastics industry, renowned for its international manufacturing standards. The nation's prowess is underscored by an array of production facilities and a well-honed industrial sector, culminating in the establishment of one of Europe's largest automotive manufacturing clusters. Notably, Germany's automotive, construction, packaging, and mechanical engineering sectors stand at the forefront of innovation and new product development.
The regional growth narrative finds its impetus in the pervasive adoption of plastic compounds across pivotal sectors like industrial machinery, construction, and automotive industries. Europe's strategic focus on the grade and type of plastic compounds employed in end-use industries has prompted vigorous investment by compounders aiming to seize untapped markets and supplant heavier materials. An intriguing transition unfolds as robust and durable plastic materials gradually supplant traditional metal components, ranging from machinery panels to covers and hoods. This transformative shift is conspicuous within the packaging sector as well, wherein plastics emerge as stalwart substitutes. The packaging industry serves as a burgeoning domain for European plastic compounders, constituting a significant 50.0% of products encapsulated within plastic containers or boxes.
Germany's ascendancy emanates from its robust industrial ecosystem, and the broader European narrative is defined by strategic transformations within key sectors, reflecting the industry's adaptability and responsiveness to evolving demands.
Europe Plastic Compounding Market By Geography
- Largest
- Fastest
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Europe Plastic Compounding Market Dynamics
Europe Plastic Compounding Market Drivers
Industrial Demand
- The widespread use of plastic compounds across industries like automotive, construction, electronics, and packaging is a primary driver. These compounds offer versatility, lightweight properties, and cost-effectiveness, making them integral to various manufacturing processes.
Sustainability Initiatives
- Growing environmental concerns and regulatory pressure have prompted a shift towards sustainable materials. Plastic compounders are focusing on bio-based and recycled plastics to align with circular economy principles, driving market growth.
Substitution of Heavy Materials
- Industries are substituting traditional heavy materials like metals with strong and lightweight plastic compounds. This enhances product efficiency, reduces costs, and contributes to material innovation.
Europe Plastic Compounding Market Restraints
Environmental Concerns
- Despite advancements, plastics are still associated with environmental issues. Plastic waste management and disposal remain challenges, compelling the industry to adopt more sustainable practices.
Regulatory Compliance
- Stringent regulations regarding plastic waste and recycling impose challenges on manufacturers to meet legal requirements and implement proper waste management processes.
Volatility in Raw Material Prices
- Fluctuations in the prices of raw materials, especially petrochemical-based feedstocks, impact production costs and can lead to market instability.
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Europe Plastic Compounding Market Competitive Landscape
The competitive landscape of the Europe plastic compounding market is characterized by a dynamic interplay of established players, innovative startups, and strategic collaborations. Key industry participants, including LyondellBasell Industries, Covestro AG, BASF SE, and Solvay S.A., command significant market share owing to their comprehensive product portfolios, extensive research capabilities, and global presence. These industry giants focus on continuous research and development to introduce advanced plastic compounds that cater to evolving industry demands while aligning with sustainability goals.
Europe Plastic Compounding Market Top Player’s Company Profiles
- Teknor Apex Company (U.S.)
- Clariant AG (Switzerland)
- Kingfa Sci. & Tech. Co. Ltd. (China)
- LyondellBasell Industries N.V. (Netherlands)
- BASF SE (Germany)
- Mitsui Chemicals, Inc. (Japan)
- PolyOne Corporation (U.S.)
- RTP Company (U.S.)
- Evonik Industries AG (Germany)
- SABIC (Saudi Arabia)
- Daikin Industries Ltd. (Japan)
- Sumitomo Chemical Company, Limited (Japan)
- DSM (Netherlands)
- Lanxess AG (Germany)
- Elastec GmbH (Germany)
- Eurotec Coating Compounds (Germany)
- Polyplast Müller GmbH (Germany)
Europe Plastic Compounding Market Recent Developments
- In March 2023, SABIC announced the opening of a new compounding plant in Germany.
- In February 2023, BASF announced the expansion of its compounding capacity in Belgium.
- In January 2023, Lanxess announced the acquisition of Polyplastics, a German compounding company.
Europe Plastic Compounding Key Market Trends
- Circular Economy Approach: A growing emphasis on circular economy models is driving the use of recycled plastics and encouraging end-of-life product recycling, contributing to reduced environmental impact.
- Bio-Based Plastics: Bio-based plastics derived from renewable sources are gaining traction due to their lower carbon footprint and potential to replace conventional plastics in various applications.
- Smart and Functional Compounds: The development of smart plastic compounds with functionalities like conductivity, flame resistance, and antimicrobial properties is opening new avenues in electronics, automotive, and healthcare sectors.
Europe Plastic Compounding Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Europe plastic compounding market analysis, the Europe plastic compounding market is poised for continued growth driven by robust demand across industries, including automotive, construction, electronics, and packaging. The shift towards sustainability and circular economy principles is reshaping the market landscape, fostering the development of bio-based and recycled plastic compounds. While regulatory compliance and environmental concerns pose challenges, innovative solutions like smart compounds and lightweight materials are gaining traction. As the industry progresses, a balance between innovation, sustainable practices, and addressing environmental issues will be pivotal in shaping the future trajectory of the Europe plastic compounding market.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 13.55 billion |
| Market size value in 2030 | USD 24.91 billion |
| Growth Rate | 7% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Europe Plastic Compounding Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Europe Plastic Compounding Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Europe Plastic Compounding Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Europe Plastic Compounding Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Europe Plastic Compounding Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Europe Plastic Compounding Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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