The UK plastics market will see a considerable growth of 2.3% during the forecast period. The UK is one of the advancing economies in the European plastics industry, backed by several growth factors, including the well-established end-use industry of plastics in the country.
The UK is considered a major hub for automotive with companies such as Aston Martin, Bentley, Caterham Cars, Jaguar, Land Rovers, and many more. These companies in the UK are best known for their premium and sports car marques across the globe. Likewise, the packaging market is increasing at the same time. This is due to the rise in the e-commerce sector in the country.
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Realizing these factors, the market players are expanding their base in the UK plastics industry, with the adoption of several strategies, such as product launch, partnership & collaboration, acquisition, geographical expansion, and others. INEOS Group, a UK-based chemical company, is expanding the range of its UPR to gain a potential share in the plastics market.
For instance, in February 2020, INEOS launched a new low-profile resin, Aropol LP 67400, designed for recreational marine and vehicle markets in North America. It features low shrink and superior cosmetics while providing robust processing and high strength capabilities, which is required by recreational vehicle manufacturers and boat builders.
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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, Saudi Basic Industries Corp. (SABIC), INEOS AG, Solvay SA, and Koniklinkje DSM N.V.
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?
UK 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.
