Europe Thermoplastics Market By Type (Polyethylene, Polypropylene, Polystyrene), Application (Packaging, Automotive, Construction), End-user (Packaging, Construction, Electrical), and Region for 2024-2031
Report ID: 469762|No. of Pages: 202
Europe Thermoplastics Market By Type (Polyethylene, Polypropylene, Polystyrene), Application (Packaging, Automotive, Construction), End-user (Packaging, Construction, Electrical), and Region for 2024-2031
Europe Thermoplastics Market Valuation 2024 To 2031
The European thermoplastics market is expanding rapidly, driven by increased demand in industries such as automotive, packaging, and construction. With the shift toward lightweight and durable materials, particularly in the automotive industry, thermoplastics such as polypropylene and polycarbonate are becoming increasingly important in the production of vehicle parts that reduce weight and enhance fuel efficiency. The demand for environmentally friendly packaging solutions, such as biodegradable and recyclable plastics, is driving market growth, particularly in the packaging and consumer goods industries. The market size surpass USD 0.8 Billion valued in 2024 to reach a valuation of around USD 1.5 Billion by 2031.
The construction industry is another important driver since thermoplastics are employed in applications such as pipes, insulation, and flooring, providing durability, flexibility, and ease of installation. Technological developments in thermoplastic production, such as 3D printing and injection molding, have increased their popularity. The rising demand for cost-effective and efficient Europe thermoplastics is enabling the market grow at a CAGR of 8.1% from 2024 to 2031.
Europe Thermoplastics Market: Definition/ Overview
Thermoplastics are a type of polymer that becomes moldable when heated and solidifies when cooled. In Europe, they are widely employed in a variety of industries, including automotive, packaging, construction, electrical, and consumer goods. These materials are preferred due to their variety, durability, and ease of processing. For instance, thermoplastics such as polypropylene and polyethylene are widely used in packaging due to their lightweight and flexible properties, whereas polycarbonate and ABS are utilized in automobiles and electronics due to their strength and impact resistance.
The market for thermoplastics in Europe looks promising, with continued innovation fueling demand. The increased emphasis on sustainability is expected to increase the usage of biodegradable and recyclable thermoplastics, particularly in packaging and consumer items. Advancements in smart manufacturing and additive technologies, such as 3D printing, will broaden thermoplastics’ use in industries such as aircraft, medical devices, and construction. As industries seek more sustainable and high-performance materials, thermoplastics are likely to play an important role in satisfying these developing needs.
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Will Medical Device Manufacturing Drive the Europe Thermoplastics Market?
Medical device production drives the European thermoplastics market due to strict European Medical Device Regulation (MDR) standards. These restrictions prioritize material safety and durability, driving producers to adopt sophisticated thermoplastics such as polycarbonate and PEEK in implants and diagnostic instruments. With the medical plastics market predicted to reach €15.2 billion by 2027, thermoplastics’ biocompatibility and adaptability are critical to addressing healthcare industry demands, hence driving market expansion.
Sustainable packaging measures are boosting the European thermoplastics market, with the EU’s Circular Economy Action Plan mandating that 50% of plastic packaging be recyclable by 2025. This rule encourages innovation in bio-based and recycled thermoplastics, thereby satisfying environmental goals and increasing demand for eco-friendly packaging options.
Will the Volatility in Raw Material Price Hinder the Growth of the Europe Thermoplastics Market?
Raw material price volatility hinders the growth of the European thermoplastics industry since production is dependent on petrochemical derivatives, making costs vulnerable to swings in oil and gas prices. Trade restrictions and supply chain disruptions increase costs and lower profits, discouraging investment and impeding market growth.
Stringent environmental regulations, such as the EU’s Single-Use Plastics Directive, may impede the growth of the European thermoplastics industry. These rules compel businesses to invest in environmentally friendly alternatives such as bio-based or recyclable thermoplastics, which can be costly and technically demanding. The financial burden of compliance, as well as the necessity for considerable R&D investments, can be especially tough for smaller businesses, limiting market expansion and raising operational costs.
Category-Wise Acumens
Will the Exceptional Versatility and Cost Effectiveness Boost the Polypropylene Segment in the Europe Thermoplastics Market?
Polypropylene dominates the European thermoplastics market due to its high adaptability and low cost. This material may be molded into a wide range of items, with excellent durability, strength, and low weight, making it suited for a variety of industries including automotive, packaging, and consumer goods. Polypropylene is utilized in the automobile industry for lightweight components that increase fuel efficiency, and in packaging, its recyclability and moisture resistance support sustainability initiatives. Polypropylene has established itself as a major material in Europe’s thermoplastics sector due to its versatility and low cost.
The increased demand for environmentally friendly materials is boosting polypropylene’s position in the European thermoplastics market. As industries, particularly automotive and packaging, work to reduce their carbon footprints, polypropylene stands out due to its recyclability and lower environmental effect than other thermoplastics. The European Commission’s Circular Economy Action Plan, which requires increased recyclability rates for plastic packaging, is consistent with polypropylene’s characteristics, making it a favored material in industries seeking to satisfy these sustainability goals. This combination of governmental support and environmental benefits guarantees that polypropylene remains a key market driver.
Will the Increasing Emphasis on Sustainability Propel the Packaging Segment in the Europe Thermoplastics Market?
Packaging is a rapidly growing application in the European thermoplastics market, driven by increased demand for environmentally friendly solutions. With the EU’s Circular Economy Action Plan promoting greater recyclability in packaging, businesses are increasingly using recyclable thermoplastics such as PET and PE. This trend is consistent with both environmental restrictions and consumer desires for eco-friendly products, cementing thermoplastics’ dominance in the packaging industry.
The demand for lightweight, long-lasting, and cost-effective packaging solutions is propelling the European thermoplastics market. Materials like polypropylene (PP) and polyethylene (PE) are great for packaging due to their strength, adaptability, and protective qualities, which are critical in industries such as food, drinks, and medicines. These thermoplastics aid in maintaining product quality, extend shelf life, and assure safety during transportation. Their ability to mold into a variety of forms and sizes makes them useful for a wide range of items, increasing their popularity in the packaging industry.
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Country/Region-Wise Acumen
What are the Factors Fueling the Europe Thermoplastics Market?
The European thermoplastics market is expanding rapidly due to key drivers from various sectors. In the automotive industry, the European Environment Agency states a goal of reducing CO2 emissions by 55% by 2030, increasing demand for lightweight thermoplastic materials that improve fuel efficiency and lower carbon footprint. Similarly, the European Commission’s Circular Economy Action Plan is encouraging the development of recyclable thermoplastics, with a goal of making 50% of plastic packaging recyclable by 2025, hence driving sustainable material innovation.
Electronics and aerospace are also contributing to the growth of the thermoplastics industry. According to Eurostat, the European electronics industry will grow by 4.3% in 2022, driving up demand for high-performance thermoplastic components. The European Union’s Green Deal and the European Aviation Safety Agency’s (EASA) support for lightweight materials in aerospace are propelling thermoplastic usage in medical devices and aviation components. The medical device sector, led by the European Medical Device Regulation (MDR), is expected to grow to €15.2 billion by 2027, substantially increasing the market.
Competitive Landscape
Examining the competitive landscape of the Europe Thermoplastics Market is considered crucial for gaining insights into the industry’s dynamics. This research aims to analyze the competitive landscape, focusing on key players, market trends, innovations, and strategies. By conducting this analysis, valuable insights will be provided to industry stakeholders, assisting them in effectively navigating the competitive environment and seizing emerging opportunities. Understanding the competitive landscape will enable stakeholders to make informed decisions, adapt to market trends, and develop strategies to enhance their market position and competitiveness in the Europe Thermoplastics Market.
Some of the prominent players operating in the Europe thermoplastics market include:
- BASF SE
- Dow Inc.
- Covestro AG
- Sabic
- LG Chem Ltd.
- Evonik Industries AG
- Solvay S.A.
- LyondellBasell Industries
- ExxonMobil Chemical
- DuPont de Nemours, Inc.
- DSM Engineering Plastics
- Momentive Performance Materials
Latest Developments
- In January 2023, SABIC will exhibit its latest thermoplastic materials, EXTEM™ and ULTEM™ thermo-optical resins, at Photonics West 2023 at booth #5512. These materials are ideal for advanced optical components that support industry trends like co-packaged optics and single-mode fiber optic systems.
- In January 2022, Arkema announced a 25% expansion in its global Pebax elastomer production capacity with an investment in Serquigny, France. This investment will significantly enhance the manufacturing of the bio-circular Pebax, Rnew, and classic Pebax products.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| Growth Rate | CAGR~ 8.1% from 2024-2031 |
| Base Year for Valuation | 2024 |
| Historical Period | 2021-2023 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value (USD Billion) |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Players | BASF SE, Dow Inc., Covestro AG, Sabic, LG Chem Ltd., Evonik Industries AG, Solvay S.A., LyondellBasell Industries, ExxonMobil Chemical, DuPont de Nemours, Inc., DSM Engineering Plastics, and Momentive Performance Materials. |
| Customization | Report customization along with purchase available upon request |
Europe Thermoplastics Market, By Category
Type
- Polyethylene
- Polypropylene
- Polystyrene
Application
- Packaging
- Automotive
- Construction
End-user
- Packaging
- Construction
- Electrical
Region
- Europe
Research Methodology of Verified Market Research:
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
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Frequently Asked Questions
1. Introduction
• Market Definition
• Market Segmentation
• Research Methodology
2. Executive Summary
• Key Findings
• Market Overview
• Market Highlights
3. Market Overview
• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter’s Five Forces Analysis
4. Europe Thermoplastics Market, By Type
• Polyethylene
• Polypropylene
• Polystyrene
5. Europe Thermoplastics Market, By Application
• Packaging
• Automotive
• Construction
6. Europe Thermoplastics Market, By End-user
• Packaging
• Construction
• Electrical
7. Regional Analysis
• Europe
8. Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market
9. Competitive Landscape
• Key Players
• Market Share Analysis
10. Company Profiles
• BASF SE
• Dow Inc.
• Covestro AG
• Sabic
• LG Chem Ltd.
• Evonik Industries AG
• Solvay S.A.
• LyondellBasell Industries
• ExxonMobil Chemical
• DuPont de Nemours, Inc.
• DSM Engineering Plastics
• Momentive Performance Materials
11. Market Outlook and Opportunities
• Emerging Technologies
• Future Market Trends
• Investment Opportunities
12. Appendix
• List of Abbreviations
• Sources and References
Report Research Methodology
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Exploratory data mining
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
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Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
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- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
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The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
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- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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