Plastics – the fast Facts 2024

Whilst Europe has maintained a positive trade balance in value terms, in tonnage terms it became a net importer of plastics resins in 2022 and plastic finished goods in 2021, and exports of plastics resins fell by 25.4% between 2020 and 2023.

Input and analysis from Plastics Europe’s members confirm that a sharp increase in imports of plastic resins and finished goods from regions with less stringent environmental standards, driven by global overcapacity, is undermining the business case for European plastics recycling and the transition to a circular plastics system.

Europe’s eroding competitiveness threatens the circular plastics transition. Plastics are essential for the European economy, supplying industries such as healthcare, automotive, building and construction, electronics, and renewables. This shift threatens the viability of a value chain that currently supports 1.5 million jobs across 51,700 companies and generated more than €365 billion in turnover within the EU in 2023. Without a competitive framework, Europe risks losing its leadership in sustainable plastics innovation, along with the economic and environmental benefits it brings.