Trusted Business Insights presents the Latest Study on Europe Plastic Compounding Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Europe Plastic Compounding Market
The Europe plastic compounding market size was valued at USD 12.5 billion in 2018 and is driven by increasing application in automotive and consumer appliances manufacturing. Polyurethane is most widely used as foam cushioning material in seats and insulation panels in automotive manufacturing.
Plastic compounding is an important process that determines the final product quality and various characteristics or attributes of the end product. In compounding, different materials are assorted, melted, and then granulated. The granules are processed into a finished or semi-finished part, which is durable and flexible.
Molding or extruding methods are employed for the processing of granules. The final product and its quality are based on the blend of materials used in the initial stage. Its use in Europe is regulated by stringent rules and guidelines regarding plastic waste disposal by European Union (EU). The local governments are also developing initiatives for recycling PET and PE.
U.K., led by the automotive industry, is the second largest market in Europe. The construction industry also holds a significant market share of around 15.0% in terms of revenue in U.K. The countrys construction industry is aided by recently sanctioned government budgets, coupled with foreign investments in the region to re-engineer the sector.
As per the government, U.K. is estimated to showcase up to 200,000 new houses under the HS2 housing project. The building and construction industry demands plastic compounds for various end uses such as manufacturing ducts and pipes, floor and wall coverings, linings and fitted furniture, and insulations.
Increasing automotive production and subsequent rise in plastic consumption in automotive component fabrication as a result of regulatory policies are expected to drive the market in Europe over the forecast period. Polyamide (PA) compounds, particularly PA6 and PA66, are being widely used in automotive applications that comprise pedal boxes engine covers, radiator tanks, and several other components.
European manufacturers are experiencing more difficulties due to high costs of natural gas and electricity. Gas prices in the region remain around 2.5 times higher than those in U.S. The region requires a significant amount of oil imports to meet its local demand, which is adding to the final product cost. High prices of power raise the cost of manufacturing of all chemicals, but a few see a particularly significant increase downstream.
Market Segmentation, Outlook & Viewpoint: Global Europe Plastic Compounding Market
Product Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Thermoplastic Vulcanizate (TPV)
Thermoplastic Polyolefin (TPO)
Polyvinyl Chloride (PVC)
Polyethylene Terephthalate (PET)
Polybutylene Terephthalate (PBT)
Acrylonitrile Butadiene Styrene
Application Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Electrical & Electronics
Key Players, Recent Developments & Regional Insights: Global Europe Plastic Compounding Market
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Polypropylene compounds dominate the European market owing to their application in core manufacturing sectors such as automotive, construction and electrical and electronics. Rapid growth in the regional automotive industry is the primary factor behind growing demand for polypropylene compounds.
Widespread acceptance of these products can be attributed to their cost-effectiveness, good chemical resistance, excellent mechanical properties, and moldability. Automotive sales in the European Union Free Trade Agreement (EU28) countries presented an increase by 8.2% in 2017 and the European Union reflected a rise of 8.4% in 2017.
PET is the most commonly used product in Europe as well as globally and has been witnessing a rapidly increasing demand. These compounds are used across automotive, packaging, textiles, and other industries. Its rising demand has led various leading companies to develop methods to recycle PET, thus addressing issues pertaining to its disposal. Development of bio-based PET is expected to provide the much-needed solution for internal substitution.
Germany leads the overall market in terms of revenue and volume. Germany has a thriving plastics industry and has set international standards for its manufacturing methods. The country has several production facilities and a well-developed industrial sector; it also houses one of the biggest automotive manufacturing hubs in Europe. The construction, automotive, packaging, and mechanical engineering sectors in Germany are focused on developing new and innovative products.
Regional growth is driven by widespread usage of plastic compounds in the industrial machinery, construction, and automotive industries. Europe has also scrutinized the grades and types of plastic compounds being used across end-use industries. Hence, compounders in the region are investing heavily to capture potential markets and replace heavier materials. Metal components such as machinery panels, covers, and hoods are being substituted with strong and durable plastic materials. Such replacements are prominent in the packaging industry as well. Packaging is an emerging industry for plastic compounders in Europe and reflects a total of 50.0% of all products being packaged in plastic containers or boxes.
Europe Plastic Compounding Market Share Insights
Industry participants are majorly focusing on development of new technologies of recycling plastics while maintaining crucial European standards. Formulators in the region have also been enhancing their product portfolio and focusing majorly on recycled plastics to comply with regulations laid down by governments of various countries and other concerned regulatory bodies. Furthermore, companies are focusing on the usage of organic feedstock in order to create bio-based plastics as a sustainable solution.
Some of the key industry participants are BASF SE, Dow Chemical Co., SABIC, LyondellBasell Industries, and Covestro. Other prominent manufacturers include Asahi Kasei Plastics, Eurostar Engineering Plastics, Lanxess AG, Solvay, and PolyOne.
Key Insights Covered: Global Europe Plastic Compounding Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Europe Plastic Compounding industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Europe Plastic Compounding industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Europe Plastic Compounding industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Europe Plastic Compounding industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Europe Plastic Compounding industry.
Research Methodology: Global Europe Plastic Compounding Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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