Engineering Plastics Market-Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Type (Acrylonitrile Butadiene Styrene (ABS), Polyamide (PA), Polycarbonate (PC), Thermoplastic polyester (PET/PBT), Polyacetal (POM), Fluoropolymer and Others), By End Use Industry (Automotive & Transportation, Electrical & Electronics, Industrial & Machinery, Packaging, Consumer Ap
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationEngineering Plastics Market-Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Type (Acrylonitrile Butadiene Styrene (ABS), Polyamide (PA), Polycarbonate (PC), Thermoplastic polyester (PET/PBT), Polyacetal (POM), Fluoropolymer and Others), By End Use Industry (Automotive & Transportation, Electrical & Electronics, Industrial & Machinery, Packaging, Consumer Ap
At the end of fiscal year 2022, around 3.7 million passenger vehicles were produced across India.
Engineering plastics are frequently used to produce mechanical parts, containers, and packaging materials. Due to their high mechanical strength, engineering plastics quickly replace metals and wood in the construction and automotive industries. These components lighten the car as a whole and improve fuel economy. They manufacture vehicle exterior and interior parts and elements for the drivetrain. Due to its excellent resilience to various environmental conditions like chemicals, high temperatures, and abrasion, engineering plastic is also utilized throughout the electronic sector. It is, therefore, the perfect material for producing consumer electronics.
), the automotive industry saw a favorable growth rate of 8.4% in the first nine months of 2021 compared to the same period in 2020.
Growing Demand from Automotive and Transportation
Due to incredible structural stiffness, engineering plastics quickly replace metals and wood in the building and automotive industries. These parts make the car lighter overall, increasing fuel efficiency. They provide components for the drivetrain and exterior and interior features for automobiles. For instance, SABIC PP compound G3430X and SABIC PP compound G3440X grades, two new glass fiber-reinforced polypropylene compositions, were announced in August 2022. For a car's demanding interior, exterior, and under-hood requirements, they provide increased performance.
Substitute of Metals
Due to their lightweight properties, engineering plastics are frequently utilized as preferred substitutes for metal and ceramic. They provide improved load capacity, mechanical characteristics, thermal stability, and lifespan and offer design flexibility. Nylon 6, polysulfide, and polyamides (PA), polycarbonates (PC), and polysulfide and polyamides (PSU) are among the engineering plastic types that are frequently used. They are widely employed in various sectors to create optical discs, ski boots, dashboard trim, and car bumpers.
Growing Technological Advancement
Due to the technological advancements that will lead to engineering plastics being used, the construction, medical, and consumer segments will all have substantial growth for polycarbonate. Still, overall sales of CDs and DVDs will continue to drop, causing them to follow the industry average. The quickest growth will be seen in engineering plastics with smaller volumes, including polyphenylene sulfide, sulfone polymers, fluoropolymers, and polyether ether ketone. The overall demand will be driven by specialized applications in developed markets and use in innovative goods such as enhanced batteries, solar modules, and medical implants. These resins will be utilized more frequently in the electrical, electronic, and automotive industries because they are frequently required to meet high-temperature requirements and because the cost premium can be rationalized from an economic standpoint.
Growing purchasing power in developing nations is a significant factor, hence the demand for engineering plastics. The main forces behind this are, to name a few, hitherto untapped prospects to replace metals not only in cars but also in household goods, buildings, and infrastructure.
Recent Developments
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Market Segmentation
The global Engineering Plastics market is segmented by type, and by end use.
Market players
Covestro AG, Solvay S.A., LG Chem, DowDuPont Inc., Evonik Industries, SABIC, Lanxess AG, Chevron Corporation, LyondellBasell Industries N.V., and BASF SE are some of the key market players.
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Attribute |
Details |
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Base Year
|
2022 |
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Historic
Data |
2018 – 2021 |
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Estimated
Year |
2023 |
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Forecast
Period |
2024 – 2028 |
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Quantitative
Units |
Revenue in USD Million, Volume in metric tons, and CAGR for 2018-2022
and 2023-2028 |
|
Report Coverage |
Revenue
forecast, Volume Forecast, company share, competitive landscape, growth
factors, and trends |
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Segments Covered |
·
Type ·
End Use |
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Regional
scope |
North
America; Europe; Asia Pacific; South America; Middle East & Africa |
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Country
scope |
United States, Canada, Mexico; China, India, Japan, South
Korea, Australia; Germany, France, United Kingdom, Italy, Spain; Brazil, South
Africa, UAE, Saudi Arabia, Turkey, and Egypt. |
|
Key
companies profiled |
Covestro
AG, Solvay S.A., LG Chem, DowDuPont Inc., Evonik Industries, SABIC, Lanxess
AG, Chevron Corporation, LyondellBasell Industries N.V., and BASF SE |
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Customization
scope |
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope. |
|
Pricing
and purchase options |
Avail
customized purchase options to meet your exact research needs. Explore purchase options |
|
Delivery
Format |
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request) |
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