Europe Plastics for Composites Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type [Thermoset (Polyester, Vinyl Ester, Epoxy, Polyurethane, and Others) and Thermoplastic (Polypropylene, Polyethylene, Polyvinylchloride, Polystyrene, P

Europe Plastics for Composites Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type [Thermoset (Polyester, Vinyl Ester, Epoxy, Polyurethane, and Others) and Thermoplastic (Polypropylene, Polyethylene, Polyvinylchloride, Polystyrene, Polyethylene Terephthalate, Polycarbonate, and Others)] and Technology (Injection Molding, Compression Molding, Pultrusion, Resin Infusion, and Others)

The Europe plastics for composites market is expected to grow from US$ 4,981.88 million in 2022 to US$ 6,591.33 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2022 to 2028 .

Demand of Bio-Based Plastics for Composites

The replacement of petroleum-derived plastics’ matrices with bio-based matrices or resins, sourced from carbohydrates, vegetable fats and oils, starch, bacteria, and other biological materials is emerging as an important trend in the plastics for composites market. Bio-based polymer matrices are environmentally friendly and are the subject of extensive research in various fields. Bio-based matrices are eco-friendly and lightweight, and exhibit long-term sustainability, which drives their use in commercial applications. The easy availability of the natural raw material for the production of a bio-based resin is an added factor fueling its supply and demand. Bio-based matrices and biocomposites are employed in several secondary applications in aerospace, automobiles, packaging, electronics, and construction sectors. In the construction industry, biocomposites are generally used for the production of doors, windows, terrace decking, insulation material, and acoustic components. According to the report from the Global Alliance for Building and Construction, construction is one of the most harmful sectors to the environment. The findings of this study were presented at the COP25, Madrid, a UN conference on climate change. Conventional construction materials are highly resource- and energy-intensive. Hence, owing to the rising concern and awareness about the social and environmental impacts of conventional building materials, manufacturers of composites are shifting toward environment-friendly raw materials.

Europe Plastics for Composites Market Overview

The construction sector in Europe has consistently expanded due to the rising population. Also, rapid shifts in the remodeling trends, such as remodeling for accessibility, style mashing-up, customizations, and technological integrations, are likely to fuel construction sector in the coming years. Surge in investments by governments and private companies in infrastructure building and construction projects is anticipated to drive the growth of the composites market in Europe in the coming years. According to the European Construction Industry Federation, in 2020, the European Union (EU) invested US$ 1.4 trillion in the construction industry, and the investment in the industry was reported to increase by 4.2% in 2021. Germany, France, the UK, Italy, and Spain accounted for more than 70% of the EU’s total investments in the construction of buildings and other structures. The residential sector accounts for 51% of this investment by the European Union.

Europe Plastics for Composites Market Revenue and Forecast to 2028 (US$ Million)

Europe Plastics for Composites Market Segmentation

The Europe plastics for composites market is segmented based on type, technology, and country. Based on type, the Europe plastics for composites market is bifurcated into thermoset and thermoplastic. The thermoset cylinders segment held a larger market share in 2022. Further, thermoset is segmented into polyester, vinyl ester, epoxy, polyurethane, and others. Further, thermoplastic is segmented into polypropylene, polyethylene, polyvinylchloride, polystyrene, polyethylene terephthalate, polycarbonate, and others.

Based on technology, the Europe plastics for composites market is segmented into injection molding, compression molding, pultrusion, resin infusion, and others. The compression molding segment held the largest market share in 2022.

Based on country, the Europe plastics for composites market is segmented into Germany, the UK, France, Italy, Russia, and the Rest of Europe. The Rest of Europe dominated the market share in 2022.

Lanxess AG; Convestro AG; Celanese Corp; INEOS Group Holdings SA; Daicel Corp; BASF SE; Evonik Industries AG; Solvay SA; Saudi Basic Industries Corp; and Arkema SA are the leading companies operating in the Europe plastics for composites market.

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