Smart Molding International 1-2024

6 smart_molding international 1/2024 newsfeed As we embark on the journey through 2024, the plastics industry is standing at the crossroads of change, driven by key trends that promise both challenges and opportunities. Oliver Zintner, KRAIBURG TPE CEO, has commented on three key topics shaping the landscape and influencing the strategies of manufacturers and businesses. Trend 1: Safety and Ecological Impact The relentless pursuit of enviro- nmentally friendly products is at the forefront, driven by the EU Green Deal and its profound impact on the industry. With stringent regulations on the horizon, there is an urgent need for a thorough re-evaluation of basic chemicals. Manufacturers in the industrial sector are facing increased reporting requirements and strict raw material restrictions, including use restrictions and mandatory labeling. Navigating this complex landscape requires a robust partnership with a solutions-oriented supplier with a forward-looking view of regulations. Companies must align with these partners to meet sustainability goals and ensure a harmonious blend of compliance and environmental responsibility. Trend 2: Digitalization in the Automotive Market The automotive sector is undergoing (another) profound digital revolution, marked by increased diversification and the entry of new suppliers. Cars are evolving into sophisticated "computers with tires," ushering in a wave of technological advances, particularly in battery technology. The U.S. and Asia are at the forefront of these transformative changes. At the same time, recycling quotas and stringent legislation are reshaping the industry landscape. Anticipating these changes, KRAIBURG TPE has been diligently preparing for the past three years, offering ready- to-buy solutions to meet the evolving requirements. Trend 3: Customers’ Expectations and Changing Purchase Behavior “Cocooning” is becoming a prominent lifestyle choice in affluent societies. The sports and leisure sector is experiencing a surge in demand for high-quality, durable products that prioritize sustainability. Evolving consumer preferences require companies to strategically adapt to serve a market that seeks both luxury and eco-conscious choices. Understanding and responding to changing buying patterns is critical in this dynamic landscape. In conclusion, 2024 represents a pivotal year for the plastics industry, presenting a dual landscape of challenges and opportunities. Companies willing to embrace sustainability, harness the power of digital, and understand the nuances of evolving customer dynamics will be well-equipped to successfully navigate this transformative journey. About KRAIBURG TPE KRAIBURG TPE is a global manufacturer of custom thermoplastic elastomers. KRAIBURG TPE was founded in 2001 as an independent business unit of the KRAIBURG Group and is now the industry's competence leader in the field of TPE compounds. The company's goal is to provide safe, reliable and sustainable products for customer applications. With more than 660 employees worldwide and production sites in Germany, the USA and Malaysia, the company offers a large product portfolio for applications in the automotive, industrial and consumer goods industries, as well as for the strictly regulated medical sector. KRAIBURG TPE www.kraiburg-tpe.com Picture source: KRAIBURG TPE Navigating the future: trends in plastics for 2024 by KRAIBURG TPE