Global Engineering Plastics Market was valued US$ XX Mn in 2019 and is expected to grow US$ XX Mn by 2027, at a CAGR of 6.8% during the forecast period.
Global Engineering Plastics Market
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Engineering plastic is a group of plastic material which has better thermal and mechanical properties. Engineering plastics are used in several industries such as automotive and transportation, electrical and electronics, consumer appliances, industrial machinery, packaging, construction, and medical.
Major factors are driving the market for engineering plastic are growing demand for polyamides in 3D printing, and increasing demand for engineering plastics from the automotive industry. As well metals or thermosets are increasingly substituted by engineering plastics in the electrical & electronics and automotive industries. However, engineering plastic is very costly in nature; this factor may hamper the engineering plastic market growth.
Asia-Pacific is expected to hold the largest XX% share in the engineering plastics market because of the presence of electrical & electronics manufacturers, and huge automobile manufacturers. The presence of major opportunities in consumer appliances, manufacturing automobiles, electronic products, machinery, industrial, and medical devices positively influence the engineering plastics market growth. Major countries like China and India are driving the demand for engineering plastics.
In Europe, the high demand for the engineered plastic material, because of the growing aerospace and wind industry. The aerospace industry needs lightweight material for the manufacturing of major parts. Engineered plastic delivers that solution at a very low cost. Automotive and transportation industries have also increased their demand for the engineered plastic material. Stringent emission and safety rules imposed by the European Union have forced the manufacturing companies to perform intense R&D activities to develop products that are lighter in weight, but have higher impact strength, resistance to wear and fatigue, high abrasion, chemical resistance, and ability to resist a wide temperature range.
Global Engineering Plastics Market Recent Developments:
BASF started a new production line of Ultroson in Korea in April 2018. This new production unit has added an annual capacity of 6,000 metric tons of polyarylsulfone, and this development has helped the company to serve the growing global demand for high-performance thermoplastic in the automotive and electronics industry.
Celanese initiated the expansion program of POM production in April 2018. This debottlenecking will help the company meet the increasing demand for speciality polymers and is expected to support the growing customer base.
The objective of the report is to present a comprehensive analysis of the Global Engineering Plastics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Engineering Plastics Market dynamics, structure by analyzing the market segments and projects the Global Engineering Plastics Market size. Clear representation of competitive analysis of key players By Product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Engineering Plastics Market make the report investor’s guide.
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Global Engineering Plastics Market, By Product
• Polyamides (PA)
• Polycarbonates (PC)
• Acrylonitrile butadiene styrene (ABS) and Styrene Acrylonitrile (SAN)
• Polyoxymethylene (POM)
• Polybutylene terephthalate (PBT)
• Polymethyl methacrylate (PMMA)
• High-performance engineering plastics (include LCP, PEEK, PEI, PPO, PES, PSU)
• Others (includes UHMWPE/UHMW, TPI alloys, and blends, etc.)
Global Engineering Plastics Market, By Application
• Automotive and Transportation
o Interiors and Safety
o Engine and Mechanical
o Exteriors and Structural
o Others (include fuel systems, electrical and electronics)
• Electrical and Electronics
o Consumer Appliances
o Others (include lighting, optical media, wire and cable, electronic components)
o Electronic Products
o Glazing and Sky Lighting
o Pipes and Fittings
o Others (Wall outlets, building bricks)
o Diagnostic and Drug Delivery Systems
o Medical Devices
o Others (include surgical instruments, orthopedic implant, and orthopedics)
• Industrial and Machinery
Global Engineering Plastics Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Engineering Plastics Market
• Asahi Kasei Corporation
• BASF SE
• Celanese Corporation
• DSM N.V.
• LG Chem.
• Mitsubishi Engineering-Plastics Corporation
• Saudi Basic Industries Corporation (Sabic)
• Solvay SA
• Victrex Plc.
• A. Schulman, Inc.
• Chi Mei Corporation
• Phillips Chemical Company
• Daicel Corporation.
• Eastman Chemical Company
• Evonik Industries AG
• Grand Pacific Petrochemical Corporation
• NOVA Chemicals Corporation
• PolyOne Corporation
• Polyplastics Co., Ltd.
• Röchling Group
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