The High Performance Engineering Plastics segment is likely to register a CAGR of 10.6% in terms of value and 9.6% in terms of volume during the forecast period, owing to its increasing application in the medical industry.
The global engineering plastics market is projected to check in a wholesome CAGR of 7.2% in terms of cost and five.7% in phrases of extent all through the forecast duration. Future market Insights offers key insights on the global engineering plastics market in an upcoming studies booklet titled, “Engineering Plastics market: global enterprise analysis and opportunity evaluation, 2016 – 2026”.
Destiny market Insights analyses the market’s overall performance and affords records on the important thing elements and tendencies impacting market growth over the forecast period 2016–2026.
The report segments the worldwide engineering plastics market on the premise of Product kind into Polyamides (PA), Polycarbonates (computer), Polyoxymethylene (POM), Polybutylene terephthalate (PBT), Acrylonitrile butadiene styrene (ABS) and Styrene Acrylonitrile (SAN), excessive overall performance Polymers, Fluoropolymers, Polymethyl methacrylate (PMMA), and Others (includes UHMWPE/UHMW, TPI alloys and blends, and so forth.).
And based on software for car and transportation, electrical and electronics, creation, clinical, business and equipment, Packaging, and Others (consists of furniture and furnishings, sports goods, enjoyment products, etc.).
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The automobile and transportation section is an increasing number of willing in the direction of adoption of engineering plastics merchandise because of their diverse thermal and mechanical residences. The fuelling call for engineering plastics is largely from car components inclusive of fasteners and supports for chassis and power trains and frame panel lenses of headlamps as these components require higher energy materials.
Besides mechanical electricity, engineering plastics assist in decreasing the general weight of cars. Bio-primarily based engineering plastics that assist reduce carbon footprint consisting of polyamides and polycarbonates also are in excessive call for.
Packaging, electric and electronics, and client goods are beneficial segments for bio-based engineering plastics starting from stiff to bendy grades. A robust market increase is probable to be observed throughout high-performance plastics such as PEI, PEEK, PSU/PES, PCTF, PVDC, PPSU, LCP, and PPS.
Developing the use of engineering plastics by cease person industries, in particular, automobile, transportation, and clinical industries is expected to force global demand over the forecast length. Fast urbanization, infrastructure improvement, and improved earnings levels throughout numerous give-up-person segments are different factors that probably boost the growth of the global engineering plastics market.
But, high fees for engineering plastics, growing use of opportunity substitutes, and fluctuations in the cost of uncooked materials are anticipated to abate the increase of the worldwide engineering plastics market over the forecast length.
Global sales revenue of engineering plastics is expected to witness steady incremental growth during the forecast period. In the product type category, the high-performance plastics segment is anticipated to register a healthy CAGR of 9.6% between 2016 and 2026, attributed to an increasing application in the medical industry.
In the application category, the electrical and electronics segment is estimated to account for a 36% value share of the global engineering plastics market by 2016, followed by the automotive and transportation segment (32.1%) and the construction segment (11.1%).
Vendor Highlights
The report also profiles the leading players dominating the global engineering plastics market. Arkema Group, Asahi Kasei Corporation, BASF SE, Celanese Corporation, Covestro, DSM N.V, DuPont, Lanxess, LG Chem, Mitsubishi Engineering-Plastics Corporation, Saudi Basic Industries Corporation (SABIC), Solvay SA, Teijin Limited, Toray Industries, and Victrex PLC are some of the top companies operating in the global engineering plastics market.
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Market segmentation
By Product Type:
By Application:
Key regions:
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Engineering Plastics Market: Region-wise Insights
This report also covers trends driving each segment and offers analysis and insights into the potential of the engineering plastics market in specific regions. The APEJ region is expected to exhibit the highest market growth due to an increase in population, income levels, and rapid urbanization in the region.
There is plenty of scope in the APEJ region for manufacturing automobiles, consumer appliances, electronic products, medical devices, industrial, and machinery. The APEJ region is anticipated to register a CAGR of 6.8% between 2016 and 2026 in terms of volume.
APEJ is expected to gain substantial market share owing to high demand from India and China, especially in the automotive and electrical, and electronics industries. The North American market is expected to register a CAGR of 7.3% during the forecast period, owing to the increasing consumption of engineering plastics in the automotive and transportation industry in the region. In terms of volume, the market share of Western Europe and Japan is expected to decrease substantially over the forecast period, as they are mature markets for engineering plastics.
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Automotive Plastics Market: Global demand for automotive plastics is expected to rise at a yearly growth rate of 4.7% Y-o-Y to US$ 34.21 Billion in 2026.
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Mar 27, 2023
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