Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the engineering plastics market provides in-depth
analysis of segments and sub-segments in the global as well as regional
engineering plastics market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional engineering
plastics market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of the global
engineering plastics market. According to the report, the global engineering
plastics market is projected to reach USD 157.23 million by 2027 from USD 102.26 million in 2021, growing at a CAGR of 7.43% over the forecast period of 2021-2027.
Engineering plastics such as
polyamides, polyacetals, polycarbonates, modified polyphenylene ethers, and
thermoplastic polyesters have become the material of choice for various
applications due to their enhanced mechanical and chemical properties including
strength, self-lubrication, rigidity, fire safety, and high resistance to
impact and abrasion. They are used in manufacturing automobiles, household
appliances, and electronic devices, to aircraft as well as food and medical
products packaging.
The global demand for engineering
plastics is rising rapidly and the substitution of metal parts with engineering
plastics is expected to continue to drive growth in the near future. Mainstream
end-use industries such as automotive electrical & electronics sectors
are concentrating on weight reduction and miniaturization of products, improved
safety, and reduced manufacturing costs, which in turn is driving the demand
for engineering plastics in these industries. The growth in the consumer &
appliances industry due to the increase in disposable income of the rising
middle class, particularly from developing countries will positively influence
the demand for engineering plastics during the forecast years. Further,
engineering plastic is gaining popularity in the automotive &
transportation industry and is being used in several interiors, exterior, and
under-the-hood applications in recent years. However, fluctuations in the
prices of the raw materials, rising environmental concerns regarding the use of
plastics, and availability of other substitutes will hamper the growth of the
market. Nevertheless, growing innovations in sustainable engineering plastics
based on bio or recycled-based materials will create fruitful opportunities for
market development over the coming years. The outbreak of the COVID-19 pandemic
had a negative impact on various industries across the globe. Plastic and
polymer industries were significantly affected by the COVID-19 pandemic. The
concerns over the outbreak of coronavirus had a negative impact on the sale of
engineering plastics over the short term as the COVID- 19 outbreak led to
lockdowns in several countries across the world. Due to these lockdowns, the
end-use industries such as building, construction, and automotive industries
incurred huge losses in their sales. Furthermore, the drop in demand for
engineering plastic products compelled companies to reduce production
significantly. The supply of all sorts of raw materials required for the
production of engineering plastics was also affected during the pandemic. Apart
from that, major players in the industry reduced or stopped the production
activities due to the safety concerns of the employees and government
regulations. The pandemic has led to large-scale distress to supply bases,
assembly plant closures, and further downshift to the declining consumer
demand. Nevertheless, the high demand for engineering plastics from the food
& beverages, healthcare, and consumer electronics industries had a positive
influence on the growth of the engineering plastics market during the pandemic.
Geographically, North America is
expected to be the largest region in the global engineering plastics market.
Particularly, China will be the key growth driver of engineering plastics in
the Asia Pacific. China is currently the largest single market for engineering
plastics and will account for approximately 40% of the global engineering
plastics share in 2020. In addition, China is not only a key consumer of
engineering plastics but also a notable manufacturer of engineering plastics.
Furthermore, the engineering plastic industry is one of the fastest-growing
industries in India which has witnessed unprecedented and explosive growth in
the last 2 decades. Additionally, the Asian region accounts for 40 percent of
the world’s inhabitants. Moreover, as the demand for consumer electronics and
automotive applications will continue to rise in the population-driven Asian
markets, the market for engineering plastics will see significant progress over
the coming years.
The report on global engineering
plastics market covers segments such as type, and application. On the basis of
type, the sub-markets include polyamides, thermoplastic polyesters,
polycarbonates, polyacetals, fluoropolymers, and others. On the basis of
application, the sub-markets include packaging, building & construction,
electrical & electronics, automotive, consumer products, and others.
The report provides profiles of
the companies in the market such as SABIC Innovative Plastics Holding B.V.,
BASF SE, Ticona Engineering Polymers, Covestro AG, Teijin Limited, Solvay SA,
Evonik Industries AG, Arkema S.A., E. I. du Pont de Nemours and Company, and
Koninklijke DSM N.V.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the engineering plastics market. Moreover, the study highlights current
market trends and provides forecast from 2021-2027. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.