The Europe Plastic Compounding Market would witness market growth of 6.6% CAGR during the forecast period (2024-2031). In the year 2020, the Europe market's volume surged to 7,344.3 kilo tonnes, showcasing a growth of 23.0% (2020-2024).
These sources provide the foundational polymers like polyethylene, polypropylene, and polystyrene essential for compounding processes. Fossil-based materials hold a prominent position in the market due to their inherent advantages. Thus, the Germany market consumed 1,662.5 kilo tonnes of plastic compounds in the market 2021.
The Germany market dominated the Europe Plastic Compounding Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $6,455.2 million by 2031. The UK market is exhibiting a CAGR of 5.6% during (2024 - 2031). Additionally, The France market would experience a CAGR of 7.4% during (2024 - 2031).
Other notable applications of compounded plastics include medical devices, where biocompatible materials are essential for patient safety and regulatory compliance, consumer goods, industrial equipment, and agricultural products.
Additionally, compounded plastics find extensive use in building and construction applications, including pipes, profiles, insulation materials, and composite panels, where they offer durability, weather resistance, and design flexibility.
As per the International Trade Administration, for 2021, the French civil aerospace industry recorded a modest gain in revenue, reaching €35.66 billion out of a total of €55.2 billion in non-consolidated aerospace and defense revenues. This represents an improvement over the previous year, 2020. The aerospace and defense industry are responsible for around 68% of its total consolidated turnover, while the civil sector accounts for 69% of its income.
Free Valuable Insights: The Global Plastic Compounding Market will Hit USD 110.4 Billion by 2031, at a CAGR of 7.1%
Based on Product, the market is segmented into Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyethylene Terephthalate (PET), Polycarbonate (PC), Polyurethane (PU), Polymethyl Methacrylate (PMMA), Acrylonitrile Butadiene Styrene (ABS) and Others. Based on Source, the market is segmented into Fossil-based, Bio-based and recycled. Based on Application, the market is segmented into Automotive, Building & Construction, Electrical & Electronics, Packaging, Consumer goods, Industrial Machinery, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Product (Volume, Kilo Tonnes, USD billion, 2020-2031)
By Source (Volume, Kilo Tonnes, USD billion, 2020-2031)
By Application> (Volume, Kilo Tonnes, USD billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD billion, 2020-2031)
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