The German plastics market will see a considerable growth of 4.1% during the forecast period. Germany is the largest consumer and producer of plastics in Europe. The presence of the well-established end-use industries, such as packaging, buildings & construction, and automotive, is one of the major factors for the huge consumption of plastics in the country.
However, with the rising consumption of plastics, the concern for the environment is increasing at a rapid rate in the country. The Government of Germany has taken up few steps regarding the surge of plastics consumption and environmental protection.
A full report of Germany Plastics Market is available at: https://www.omrglobal.com/industry-reports/germany-plastics-market
As per the EU Strategy on Plastics in a Circular Economy 2030, all the plastic material in the EU must be recyclable. The country’s packaging industry is expected to witness a significant growth rate; as per the German Plastics Packaging Industry Association (IK), the packaging industry will witness a growth of 5.1% in 2019.
The country introduced a new packaging act in 2019, which will make all the companies compulsory to register with the central packaging registry. The new act aims to improve existing law on packaging regarding recycling and the prevention of packaging waste. The act has set a goal of 90% recycling target for metal, glass, and paper & board in 2022, reusable beverage packaging of 70% with an overall plastic target of 63% as compared to 36% in 2019. Thus, all these initiatives are expected to augment the plastic market in the country.
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Market Coverage
- Study Period- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Type and By Application
- Key Companies Profiled- BASF SE, INEOS AG, Cleanse Corp., Braskem SA, Evonik Industries AG, and MBA Ploymers Inc.
Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
o Recovery Timeline
o Deviation from pre-COVID
o Most affected region/segment
o Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Germany Plastics Market – Segmentation
By Type
- Thermoplastics
- Thermosets
By Application
- Packaging
- Building & Construction
- Automotive
- Electrical & Electronics
- Household, Leisure & Sports
- Agriculture
- Others
This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.
