"Global Engineering Plastics Market' – Industry Trends and Forecast to 2029
Global Engineering Plastics Market, By Type (Acrylonitrile Butadiene Styrene (ABS), Polyamide, Polycarbonates, Thermoplastic polyester, Others), Parameters (High Performance, Low Performance), Application (Abrasion Resistant Liners, Acid Trays, Anti-Corrosive Liners, Braking Tray Liners, Bearings, Bench Top, Boat Chopping Board, Boat Windscreen, Bolts and Nuts, Others), End-Use Industry (Automotive and Transportation, Consumer Appliances, Electrical and Electronics, Industrial and Machinery Packaging and Other), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa), Industry Trends and Forecast to 2029.
The engineering plastics market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 6.90% in the above-mentioned forecast period.
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**Segments**
- By Type: The engineering plastics market can be segmented based on type into polycarbonate, polyamide, ABS, PET, POM, PMMA, PBT, and others. Polycarbonate is widely used in various applications due to its excellent impact resistance and optical clarity. Polyamides, also known as nylon, are highly durable and find applications in automotive and consumer goods industries. Acrylonitrile Butadiene Styrene (ABS) is known for its toughness and is used in automotive parts and electronic housings. Polyethylene Terephthalate (PET) is commonly used in packaging and textile industries due to its lightweight and recyclable properties. Polyoxymethylene (POM) is a high-performance engineering plastic that offers low friction and excellent dimensional stability.
- By End-Use Industry: The market can also be segmented based on end-use industry into automotive, electrical electronics, industrial machinery, packaging, and others. The automotive industry is a significant consumer of engineering plastics due to their lightweight properties, which help in improving fuel efficiency. The electrical electronics sector utilizes these plastics for insulating components and housings of electronics devices. In the industrial machinery sector, engineering plastics are used for manufacturing gears, bearings, and other components due to their high strength and wear resistance. The packaging industry benefits from the versatility and barrier properties of engineering plastics for food packaging and containers.
- By Region: Geographically, the market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Asia Pacific holds a dominant position in the engineering plastics market due to the rapid industrialization and growth of end-use industries such as automotive, electronics, and packaging in countries like China and India. Europe and North America also hold significant market shares owing to the presence of major market players and technological advancements in the region. Latin America and Middle East Africa are witnessing increasing demand for engineering plastics due to the growing infrastructure development and investments in key sectors.
**Market Players**
- BASF SE
- Covestro AG
- Sabic
- DuPont
- Solvay
- Lanxess AG
- DSM Engineering Materials
- Mitsubishi Engineering-Plastics Corporation
- Asahi Kasei Corporation
- Evonik Industries
- Celanese Corporation
The global engineering plastics market is witnessing steady growth attributed to the increasing demand for lightweight and high-performance materials across various industries. Key players in the market are focusing on research and development activities to introduce innovative products and expand their product portfolios. The market is characterized by intense competition, leading to strategic collaborations, mergers, and acquisitions among key players to gain a competitive edge. The adoption of engineering plastics is expected to rise further with the growing emphasis on sustainability and the need for advanced materials with superior properties.
https://www.databridgemarketresearch.com/reports/global-engineering-plastics-marketThe engineering plastics market is poised for continued growth driven by the increasing emphasis on lightweight and high-performance materials across various industries. One of the emerging trends in the market is the growing application of engineering plastics in the medical and healthcare sectors, primarily for manufacturing medical devices and equipment due to their biocompatibility and chemical resistance properties. The demand for engineering plastics in the aerospace industry is also on the rise as these materials offer excellent strength-to-weight ratio and contribute to fuel efficiency in aircraft applications.
Another significant development in the engineering plastics market is the shift towards sustainable and eco-friendly materials. With increasing regulations and consumer awareness regarding environmental impact, market players are increasingly focusing on developing bio-based engineering plastics derived from renewable sources. This shift towards sustainable materials is expected to drive innovation in the market and create new avenues for growth. Additionally, advancements in recycling technologies are enabling the reuse and repurposing of engineering plastics, further supporting the sustainability goals of industries across the globe.
Furthermore, the rapid industrialization and urbanization in emerging economies, particularly in the Asia Pacific region, are expected to fuel the demand for engineering plastics in construction and infrastructure projects. These materials offer superior mechanical properties, durability, and resistance to harsh weather conditions, making them ideal for applications such as pipes, fittings, and insulation materials in the construction sector. Moreover, the automotive industry is increasingly adopting engineering plastics to reduce vehicle weight and improve fuel efficiency, in line with stringent emission regulations.
As market players strive to differentiate their products and gain a competitive edge, investment in research and development activities remains a key focus area. Developing advanced engineering plastics with enhanced properties such as thermal stability, chemical resistance, and flame retardancy is crucial to meeting the evolving requirements of end-use industries. Collaborations and partnerships within the value chain are also becoming essential to bring innovative solutions to the market efficiently.
In conclusion, the global engineering plastics market is expected to witness robust growth driven by factors such as the demand for lightweight materials, sustainability initiatives, technological advancements, and industrial developments. As industries continue to seek high-performance materials for diverse applications, the role of engineering plastics is likely to expand, offering new opportunities for market players to innovate and cater to changing industry needs.**Segments**
Global Engineering Plastics Market, By Type (Acrylonitrile Butadiene Styrene (ABS), Polyamide, Polycarbonates, Thermoplastic polyester, Others), Parameters (High Performance, Low Performance), Application (Abrasion Resistant Liners, Acid Trays, Anti-Corrosive Liners, Braking Tray Liners, Bearings, Bench Top, Boat Chopping Board, Boat Windscreen, Bolts and Nuts, Others), End-Use Industry (Automotive and Transportation, Consumer Appliances, Electrical and Electronics, Industrial and Machinery Packaging and Other), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa), Industry Trends and Forecast to 2029.
The engineering plastics market is segmented by type into various categories such as polycarbonate, polyamide, ABS, PET, POM, PMMA, PBT, and others, each offering distinct properties suitable for a wide range of applications. Polycarbonate stands out for its exceptional impact resistance and optical clarity, making it a popular choice in different industries. Polyamides, known for their durability, find applications in automotive and consumer goods. ABS, valued for toughness, is widely used in automotive parts and electronics. PET is favored for packaging and textiles due to its recyclable nature. POM offers low friction and dimensional stability for high-performance applications.
From an end-use industry perspective, automotive, electrical electronics, industrial machinery, packaging, and others are major segments driving the demand for engineering plastics. The automotive sector benefits from the lightweight nature of engineering plastics, aiding in fuel efficiency. Electrical electronics use these materials for insulating components. Industrial machinery relies on engineering plastics for durable gears and bearings. Packaging finds the versatility and barrier properties of engineering plastics vital for food packaging and containers.
Geographically, regions like North America, Europe, Asia Pacific, Latin America, and Middle East Africa play significant roles in the engineering plastics market. Asia Pacific leads due to rapid industrialization, especially in countries like China and India. Europe and North America boast established market players and technological advancements. Latin America and Middle East Africa are experiencing increased demand for engineering plastics due to infrastructure growth and sector investments.
Considering market players, BASF SE, Covestro AG, Sabic, DuPont, Solvay, Lanxess AG, DSM Engineering Materials, Mitsubishi Engineering-Plastics Corporation, Asahi Kasei Corporation, Evonik Industries, and Celanese Corporation are key companies shaping the engineering plastics market. With a focus on innovation, portfolio expansion, and sustainability, these players drive competition through collaborations, mergers, and acquisitions to gain competitive advantages.
The global engineering plastics market is set for continual growth driven by the demand for lightweight, high-performance materials across multiple industries. Emerging trends such as applications in healthcare, aerospace, and sustainable materials underscore the market's evolution towards innovation and environmentally friendly solutions. As industries pursue advanced materials for diverse applications, the future of the engineering plastics market looks promising, offering opportunities for players to meet evolving industry needs through research, development, and strategic partnerships.
Key points covered in the report: -
- The pivotal aspect considered in the global Engineering Plastics Market report consists of the major competitors functioning in the global market.
- The report includes profiles of companies with prominent positions in the global market.
- The sales, corporate strategies and technical capabilities of key manufacturers are also mentioned in the report.
- The driving factors for the growth of the global Engineering Plastics Market are thoroughly explained along with in-depth descriptions of the industry end users.
- The report also elucidates important application segments of the global market to readers/users.
- This report performs a SWOT analysis of the market. In the final section, the report recalls the sentiments and perspectives of industry-prepared and trained experts.
- The experts also evaluate the export/import policies that might propel the growth of the Global Engineering Plastics Market.
- The Global Engineering Plastics Market report provides valuable information for policymakers, investors, stakeholders, service providers, producers, suppliers, and organizations operating in the industry and looking to purchase this research document.
Table of Content:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Global Engineering Plastics Market Landscape
Part 04: Global Engineering Plastics Market Sizing
Part 05: Global Engineering Plastics Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
The investment made in the study would provide you access to information such as:
- Engineering Plastics Market [Global – Broken-down into regions]
- Regional level split [North America, Europe, Asia Pacific, South America, Middle East Africa]
- Country-wise Market Size Split [of important countries with major market share]
- Market Share and Revenue/Sales by leading players
- Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
- Market Size
- Market Size by application/industry verticals
- Market Projections/Forecast
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