Europe Plastic Additives Market Size, Share & Trends Analysis Report By Function (Plasticizers, Flame Retardants, Impact Modifiers, Antioxidants), By Plastic Type, By Application, By Region, And Segment Forecasts, 2023 - 2030

Europe Plastic Additives Market Growth & Trends

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.

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

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