As 2024 draws to a close, it is evident that the key trends we predicted earlier this year have played a significant role in the plastics industry.
KRAIBURG TPE CEO Oliver Zintner reflects on the year 2024 and concludes that the three transformative trends identified in February not only materialized but also propelled advancements across various sectors.
1. Safety and Ecological Impact
The push for environmentally conscious solutions remains a priority, with the EU Green Deal driving transformative changes.
One example is that in 2024, companies faced intensified reporting preparations for the European Sustainability Reporting Standards (ESRS) as defined in the Corporate Sustainability Reporting Directive (CSRD).
The ESRS aligns financial reporting with sustainability goals to meet the EU’s ambitious climate targets. KRAIBURG TPE, in collaboration with forward-thinking customers and partners, is successfully adapting to these challenges. By embracing innovations compliant with the Green Deal’s objectives and leveraging expertise in sustainable raw materials, we ensured that both regulatory and environmental goals were achieved.
This approach highlights our global commitment to not only reducing environmental impacts in Europe, all while maintaining product performance standards, but in all regions.
2. Digitalization in the Automotive Market
The automotive industry’s digital transformation surged in 2024, with advancements in battery technology and vehicle connectivity at the forefront. Just as expected, there are also shifts aligned with evolving consumer demands for eco-friendly and high-tech vehicles that are affordable.
KRAIBURG TPE anticipated these trends with early investments in sustainable and innovative materials. This foresight led to the release of TPE products with up to 77% recycled content or compounds that include recycled content but are also lightweight, catering to the automotive industry's heightened focus on sustainable practices.
By offering solutions tailored to the sector's digital and ecological advancements, we enabled our customers to remain competitive and compliant in a rapidly evolving market.
3. Shifting Consumer Expectations
The sports and leisure sectors experienced heightened demand for durable, eco-conscious products in 2024, driven by shifting consumer priorities and sustainability initiatives.
This trend was reflected in the rapid growth of the sustainable athleisure market, growing annually at 5% from 2024. Major brands embraced eco-friendly materials and sustainable manufacturing processes to reduce their environmental impact.
In alignment with these developments, KRAIBURG TPE delivered materials tailored for luxury, functionality, and sustainability, supporting manufacturers aiming to meet both performance demands and environmental goals.
Conclusion
2024 has been a year of challenges and growth. Global sustainability initiatives and consumer-driven innovation reshaped industries, with the plastics sector focusing on delivering solutions and advanced digital technologies. The rising demand for sustainable materials, highlighted by developments in sectors such as sportswear and automotive, underlined the urgency for innovation in more sustainable raw materials, in recycling and material efficiency.
KRAIBURG TPE stood firm in its commitment to these pillars, aligning with evolving regulatory and market expectations. By fostering robust partnerships and leveraging trends in sustainable innovation, KRAIBURG TPE delivered solutions that address pressing environmental concerns while maintaining product performance. Moving forward, as market dynamics continue to shift, we are well-positioned to navigate an even more dynamic future, solidifying our role as a leader in TPE and sustainability.
