Europe Plastic Compounding Market Size [2022-2031] | Global Industry Growth, Share, Demand Insights, Trends, Key Players, Geographical Segmentation, Gross Margin and Revenue, Key Findings and Forecast Research

Kenneth Research recently added a report on the Europe Plastic Compounding Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for products.

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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.

The Europe plastic compounding market was valued at $13.1 billion in 2018. Plastic compounding helps in determining several characteristics of an end product and final quality of the product. In compounding process various materials are melted, assorted and further granulated that is further sorted into a semi-finished or finished portion that is flexible and durable.

Moreover, compounding aims at delivering economical production to the manufacturers along with less reconfiguration time and less amount of waste. Accumulated pressure observed on the lead time of the order, increasing emphasis upon diversity of products and availability of products at reasonable prices globally are the key features witnessed in the business environment of the compounders. Moreover, these factors are thereby significantly contributing towards the growth of the European plastic compounding market significantly.

The extensive growth of automobile industry in Europe is further anticipated to drive the growth of the European plastic compounding market. Broader application of over molded plastic components can adhere to the increasing demand witnessed from automotive domain since with the help of compounding several modern design features can be easily implemented and several polymers could be efficiently employed by the automotive manufacturers. Additionally, automotive manufacturers are extensively emphasizing upon enhancing the safety of its travellers and compounding plastics are performing a significant role in this.

Furthermore, the automotive manufacturers are constantly formulating new strategies for reusability of recycled materials and as a result these factors are thereby propelling the growth of Europe plastic compounding market. Moreover, plastic compounding supports the automotive domain in meeting its ever-increasing demand of comfort, style, affordable price, fuel efficiency and design and persistent innovation is the most significant factor in driving the growth of the Europe plastic compounding market at an extensive rate. However, volatility observed in the prices of raw materials is the major factor that is hampering the growth of the Europe plastic compounding market.

Plastic compounding market forecast 2019 – 2029 estimates the historical market size in terms of consumption as well as revenue generated by the industry players in Europe. It offers the opportunity analysis along the value chain for the plastic compounding manufacturers. Also, the report offers the vendor analysis along with price trend which provides an edge to the stakeholders especially manufacturers to create a better understanding of the market. construction, medical devices, automotive, industrial machinery, electrical & electronics, consumer goods, packaging, appliances, optical media, and others industry players benefit from the product benchmarking and matrix helping them to take right decision in choosing the right product with optimum prices suited for their end use applications.

The reports provide the analysis based on product and end user segment. Based on the product, the European plastic compounding market is categorized into polypropylene (PP), polyamide, thermoplastic vulcanizate (TPV), polyvinyl chloride (PVC), polybutylene terephthalate (PBT), thermoplastic polyolefin (TPO), acrylonitrile butadiene styrene, polystyrene, polycarbonate, polyethylene (PE), and others. Among all these segments, polypropylene category holds the largest share in the European market in 2018 owing to its exclusive property and capability of being adaptable to various fabrications process makes it a valuable product for wide range of utilisation. These products are seeking pervasive application in construction, automotive and electronics domain.

Furthermore, polypropylene (PP) provides exceptional mechanical properties, low cost and moldability in the automotive as a result is extensively increasing PP demand in the automotive sector. Additionally, remarkable barrier properties, surface finishing and high strength make PP appropriate for being accepted for packaging applications.

On the basis of end user, the European plastic compounding market is segmented into construction, medical devices, automotive, industrial machinery, electrical & electronics, consumer goods, packaging, appliances, optical media, and others. Among all the end users, construction sector is anticipated to witness fastest growth during the forecast period. The plastic compounding provides several properties to the construction domain such as providing chemical resistance to material dimensional stability for reshaping, acts as efficient electric insulators.

Moreover, initiatives undertaken by the government authorities of Europe such as reduction in the prices of real estate is further contributing towards the upliftment of construction domain which is thereby strengthening the growth of the Europe plastic compounding market.

Among the various countries in Europe, Germany dominates plastic compounding market in terms of revenue owing to the construction and automotive sector of the country is exceedingly adopting plastic materials in its manufacturing processes and thereby focussing upon development of innovative offerings. Moreover, increasing disposable income and improvement in economic policies of the region are significantly enhancing the growth of automotive, construction and packaging domain in Germany that is further propelling growth of the European plastic compounding market.

Furthermore, extensive utilization of plastics in white goods in the region is thereby accentuating the growth of plastic compounding market in Europe. The manufacturers are replacing conventional metals and expensive thermoplastic materials with plastics in white goods thereby making the products structurally suitable and thus enhancing their visual appeal. Moreover, it has been observed that high rigidity balance, high gloss impact and high heat performance have further exaggerated the increasing production of white goods by utilisation of plastic compounding. These factors are strengthening the growth of the European plastic compounding market at an extensive rate.

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The eminent players operating in Europe plastic compounding market are adopting flexible production capabilities and are entering partnership agreements in order to provide exclusive offerings to the customers. The providers are developing identical production concept and significantly gaining competitive advantage in the market. Some of the players having prominent presence in the Europe plastic compounding market include Borealis AG, The Dow Chemical Company, Asahi Kasei Plastics, Lanxess AG, Ensinger Group, Washington Penn Plastics Company, LyondellBasell Industries, N.V., Solvay S.A., Eurostar Engineering Plastics, Akro-Plastic GmbH, BASF SE, PolyOne Corporation, RTP Company, Inc., SABIC, TechnoCompound GmbH, RIA-Polymers GmbH, PCW GmbH, Dyneon GmbH, Ravago, and Celanese Corporation.

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