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.
Market Analysis and Insights of Engineering Plastics Market
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.
Engineering plastics are basically the good quality plastics which are generally used to enhance the thermal and mechanical characteristics of the plastic to meet the higher requirements. They possess various beneficial properties such as the higher impact strength, high abrasion, alongside the wear and fatigue resistance. These plastics have replaced conventional engineering materials such as wood, metals.
The factors such as growing demand for engineering plastics for the improved products are the root cause fueling up the market growth rate. The factors expected to cushion the growth of the market are increasing trend in lightweight vehicles along with growth in trend of reducing vehicle weight and improvement in fuel efficiency coupled with metal replacement in the construction and electrical & electronics industries in the forecast period of 2022 to 2029. Additionally, their special properties such as higher impact strength, high abrasion, alongside the wear and fatigue resistance are further expected to cushion the overall markets growth. The fluctuating price of crude oil along with the regulatory challenges regarding CO2 emissions are expected to impede the growth of the engineering plastics market in the forecast period of 2022 to 2029. Furthermore, the high availability of cheaper alternatives is also expected to hamper the market’s growth within the forecasted period.
The increasing adoption of 3D printing which uses polyamides as a feedstock are estimated to generate numerous opportunities for the market in the forecast period of 2022 to 2029. On the flip side, the time consuming process for the manufacturing of engineering plastics are projected to pose as a major challenge to the growth of the engineering plastics market.
This engineering plastics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on engineering plastics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Engineering Plastics Market Scope and Market Size
The engineering plastics market is segmented on the basis of type, parameters, application and end-user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the engineering plastics market is segmented into acrylonitrile butadiene styrene (ABS), polyamide, polycarbonates, thermoplastic polyester and others.
- On the basis of application, the engineering plastics market is segmented into abrasion resistant liners, acid trays, anti-corrosive liners, braking tray liners, bearings, bench top, boat chopping board, boat windscreen, bolts and nuts and others.
- On the basis of end-user, the engineering plastics market is segmented into automotive and transportation, consumer appliances, electrical and electronics, industrial and machinery packaging and other. Automotive and transportation is sub-segmented into interior and under the hood applications. Consumer appliances is sub-segmented into air-conditioner and music players. Electrical and electronics is sub-segmented into semiconductor and sockets and switches. Industrial and machinery is sub-segmented into power tools. Other is sub segmented into medical applications and construction.
Engineering Plastics Market Country Level Analysis
The engineering plastics market is segmented on the basis of type, parameters, application and end-user industry.
The countries covered in the engineering plastics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the engineering plastics market owing to the high plastic manufacturing units and easily availability of raw materials in the region. North America on the other hand, will continue to however show lucrative growth within the forecast period owing to the increasing demand from automotive, electronics and electrical sector in the forecast period of 2022 to 2029.
The country section of the engineering plastics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Engineering Plastics Market Share Analysis
The engineering plastics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to engineering plastics market.
Some of the major players operating in the engineering plastics market report are BASF SE, Ashland, Arkema, Covestro AG, AdvanSix, Asahi Kasei Corporation, Celanese Corporation, LANXESS, Chi Mei, Chevron Phillips Chemical Company, LLC., Daicel Corporation., 3M, Eastman Chemical Company, Corporate-Evonik, Grand Pacific Petrochemical, INEOS, LG Chem, Mitsubishi Electric Corporation, NOVA Chemicals Corporation, Polyplastics Co., Ltd., Röchling SE & Co. KG, DSM, SABIC, Solvay, Trinseo, and Teijin Aramid B.V., among others.
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