The Europe Plastic Additives Market size is expected to reach USD 25.1 billion by 2030, expanding at a CAGR of 5.4% during the forecast period, according to Grand View Research, Inc. The rising population and rapid urbanization in emerging economies of Europe are likely to boost the growth of the end-use industries, which, in turn, is expected to escalate product demand over the forecast period.
The
product demand is expected to increase majorly in the building &
construction, medical, and packaging application industries. Rising demand for
healthcare and packaging products, due to increased funding from the EU
combined with support measures (such as tax breaks, subsidies, and incentives)
adopted by various governments is expected to accelerate the growth of the
construction sector in the region. In addition, the planning of various PPP
projects in the country for the construction of roads, hospitals, schools, and
airports is expected to increase the demand for plastic products in the
aforementioned areas. These factors are expected to fuel the growth of
the plastic additives market in Europe over the forecast period.
Based
on function, the Europe plastic additives industry is segmented into plasticizers,
flame retardants, impact modifiers, antioxidants, antimicrobials, UV
stabilizers, color addition, and others. Plasticizers was the leading segment
in 2022, accounting for over 46.0% of the revenue share. Plasticizers are low
molecular weight substances that are added to a plastic solution to promote its
flexibility and plasticity.
Plasticizers
are the most common additives used in the plastic industry. Plasticizers are
available as colorless and non-volatile liquids. They increase the thermoplasticity
and fluidity of a polymer by reducing the polymer melt viscosity, glass
transition temperature, elastic modulus, and melting temperature of the
finished product without changing the basic chemical properties of the
plasticized material.
The
commodity plastics product segment dominated in 2022, accounting for a revenue
share of over 42.0%. The increasing penetration of commodity plastics into
consumer durables, packaging products, and medical applications is expected to
be a significant growth driver. Commercial plastics are widely used for
mass-producing disposable products such as drinking water bottles or packaging
films.
However,
these plastics can also be used in various other industries such as electrical
& electronics, construction, and automotive. Surging demand for commercial
plastics in consumer durables, such as weatherproof clothes, food packaging
materials, containers, disposable tableware, personal care products, beverage
bottles, and pharmaceutical products is expected to drive the growth commodity
plastics segment of the plastic additives market in Europe over the forecast
period.
The
packaging application segment led the market and accounted for more than 21.0%
of the revenue share in 2022. Packaging is essential and it is used extensively
in various end-use industries. Packaging is available in various forms
including flexible packaging, glass packaging, metal packaging, rigid plastic
packaging, and paper container packaging.
The
usage of plastic additives in packaging gives protection to the packed products
against microbes, increases product shelf life, and enhances aesthetic value.
The packaging industry is driven by rising demand for personal care products
and packed food products, which, in turn, is anticipated to increase the consumption
of plastic additives in packaging products.
List of Key Players in the Europe Plastic Additives
Market
- BASF SE
- LyondellBasell
Industries Holdings B.V.
- NanoBioMatters
Industries S.L.
- Evonik
Industries AG
- Solvay S.A.
- Avient
Corporation
- Milliken
& Company
- Dow Inc.
- LANXESS
- KANEKA
CORPORATION
- Avi
Additives
- Biesterfeld
AG
- SONGWON
- FRILVAM
S.P.A.
- Nouryon
- Gabriel-Chemie
- RIFRA
MASTERBATCHES S.p.A.
- Eigenmann
& Veronelli S.p.A.
- SABIC
- Clariant AG
- ADEKA
CORPORATION
Related Press
Release@ Europe Plastic Additives Market Report
Europe Plastic Additives Market Report Highlights
- The Europe
plastic additives industry was valued at USD 16.62 billion in 2022 and is
estimated to grow at a CAGR of 5.4% from 2023 to 2030
- Plasticizers
accounted for over 46% share of the overall revenue in 2022, due to their
use in applications such as packaging, consumer goods, building &
construction, automotive, medical, electrical & electronics requiring
high-temperature exposure, good flexibility at low temperatures,
high-molecular-weight adipates and sebacates, offer good performance
- Commodity
plastic is expected to witness the highest CAGR of 5.7% over the forecast
period in terms of revenue because it can be easily processed and molded
into various shapes, making them highly suitable for usage in packaging
applications. The growing demand for trays, packaging bottles, crates,
etc. for packaging food products and beverages in Europe is expected to
increase the consumption of commercial plastics in the region used for
developing them in the coming years
- Packaging
application segment accounted for more than 21.0% of the overall revenue
share in 2022. The packaging industry’s growth is driven by the rising
demand for personal care & packed food products, which, in turn, is
anticipated to increase the consumption of plastic additives in packaging
products
- Germany
accounted for more than 19.0% of the overall revenue share in 2022. The
personal care packaging industry in Germany is expanding with the
increased consumption of youth-oriented, floral, and exotic fragrances and
celebrity-advertised perfumes. Paper recycling technologies and R&D
initiatives to develop superior packaging products are expected to offer
ample opportunities to market participants over the forecast period
Europe Plastic Additives Market
Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 17.40 billion |
|
Revenue forecast in 2030 |
USD 25.11 billion |
|
Growth rate |
CAGR of 5.4% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2019 - 2021 |
|
Forecast period |
2023 - 2030 |
Europe Plastic Additives Market Segmentation
Grand
View Research has segmented the Europe plastic additives market based on
function, plastic type, application, and region:
Europe Plastic Additives Function Outlook (Volume,
Kilotons; Revenue, USD Billion, 2019 - 2030)
- Plasticizers
- Flame
Retardants
- Impact
Modifiers
- Antioxidants
- Antimicrobials
- UV
Stabilizers
- Color
Addition
- Others
Europe Plastic Additives Plastic Type Outlook
(Volume, Kilotons; Revenue, USD Billion, 2019 - 2030)
- Commodity
Plastic
- Engineering
Plastic
- High-Performance
Plastic
Europe Plastic Additives Application Outlook
(Volume, Kilotons; Revenue, USD Billion, 2019 - 2030)
- Packaging
- Consumer
Goods
- Building
& Construction
- Automotive
- Medical
- Electrical
& Electronics
- Others
Europe Plastic Additives Regional Outlook (Volume,
Kilotons; Revenue, USD Billion, 2019 - 2030)
- Europe
- Germany
- UK
- France
- Italy
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
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