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Market Research Report

Engineering Plastics Market Outlook 2024: Global Opportunity Assessment and Demand Analysis, Market Forecast, 2016-2024

Published On : 2017-11-06 Report Page : 235 Category: Chemicals Minerals & Materials

Global Engineering Plastics Market

Market Overview

Engineering plastics are a class of thermoplastics with better chemical and thermal properties than standard plastics, such as high abrasive strength, heat resistance and mechanical strength among others. These properties have added versatility to the application of these plastics in various industries, causing demand growth in recent years. Common engineering plastics include ABS, PA, POM, PET etc.

Plastics are becoming the backbone of the modern industrial economy, owing to their excellent physical and chemical properties, combined with low costs. Engineering plastics are witnessing demand from a wide range of industries, including automotive, electronics, building and construction etc. These wide ranging applications of engineering plastics along with growing demand in developing regions are expected to spur market growth in coming years.

Market Segmentation

By Product Type

  • Acrylontirle Butadiene Styrene (ABS)
  • Polycarbonates (PC)
  • Polybutylene Terephthalate (PBT)
  • Polyamides (PA)
  • Polyoxymethylene (POM)
  • Others

By End User

  • Medical Devices
  • Automotive Industry
  • Building and Construction
  • Consumer Electronics
  • Packaging Industry
  • Industrial Products
  • Others (Robotics)

By Geography

  • North America (US, Canada) {Market Share (%), Market Size (USD Billion), Production (Tons)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Production (Tons)}
  • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Production (Tons)}
  • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Production (Tons)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Production (Tons)}
  • Rest of the World {Market Share (%), Market Size (USD Billion), Production (Tons)}

Market Size and Forecast (2016-2024)

The global market for engineering plastics was worth USD 68 Billion in 2016. On the back of rising applications across industries, the market is expected to grow at a CAGR of 7.1% during the forecast period, and reach a market size of USD 117.7 Billion by the end of the forecast period.

ABS accounts for the largest share of the market in terms of revenue amongst all types of engineering plastics, its excellent qualities like strength, corrosion resistance and easy application making it a favored choice among industrial users. By application, the automotive industry accounts for the largest market share due to rapid metal parts replacement.

Geographically, Asia Pacific holds the largest market for engineering plastics, owing to rapid industrialization, and thriving automotive and consumer industries in the region.

Key Drivers and Restraints

Rising usage of engineering plastics as a replacement for metals in various industries, augmented by industrial growth worldwide, and rapid technological advancements in engineering technology that allow these plastics to enter new applications are the key factors driving growth in the engineering plastics market. Growth and development in the automotive sector, the largest application segment of these plastics, will also drive demand as automakers increasingly use these plastics instead of metal parts to reduce the weight of vehicles and increase fuel efficiency. Trends of miniaturization of electrical components might also affect market momentum. Low cost of plastics is another factor making the use of these plastics favorable.

However, adverse fluctuation in oil prices and government regulations regarding carbon dioxide emission might pose challenges to the growth of the global engineering plastics market. Further, development of low cost commodity resins might also hinder demand for engineering plastics to an extent.

Key Players

  • BASF SE
    • Synopsis
    • Business Strategy
    • Product Portfolio
    • SWOT Analysis
  • Du Pont De Nemours and Co
  • Mitsubishi Engineering Plastics
  • Covestro
  • LG Chem
  • Laxness AG
  • Styrolution ABS

Scope Background

Market Synopsis

Market Segmentation

The global engineering plastics market is segmented as follows:

  • By  Product Type (Market Size, Demand Analysis and Growth Analysis)
  • By  End User (Market Size, Demand Analysis and Growth Analysis)

By Regions

  • North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
  • Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
  • Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
  • Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
  • Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
  • Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

  • Risk Factors
  • Regional Variations
  • Recent Trends and Developments

Key Market Players

  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks


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Engineering Plastics Market Outlook 2024: Global Opportunity Assessment and Demand Analysis, Market Forecast, 2016-2024

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