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Engineering Plastics Market | Covid-19 Impact Analysis
The Engineering Plastics Market is Segmented by Product Type (Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Thermoplastic Polyesters, Polyacetals, Fluoropolymers, PEEK, Polyphenylene Sulfide, Polyphenylene Oxide, PMMA, and Others), by End-Use Industry Type (Automotive & Transportation, Electrical & Electronics, Industrial & Machinery, Packaging, Consumer Appliances, Medical, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Engineering plastics market is likely to witness an impressive CAGR of 7.6% during the forecast period. The prime factor that is contributing to the demand for engineering plastics is mainly the rapidly increasing demand from automotive sector to manufacture lightweight vehicles. Increasing penetration of engineering plastics in the construction sector is also a major factor driving the growth of the market. Engineering plastics are gaining popularity in the construction sector due to their versatility, strength-to-weight ratio, durability, and corrosion-resistance properties.
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Engineering Plastics Market - Snapshot |
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Growth |
7.6% for the next five years |
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Major Product Type |
Thermoplastic Polyesters |
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Dominant End-Use Industry Type |
Automotive & Transportation |
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Region with the highest demand |
Asia-Pacific |
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Key Players |
BASF SE, Covestro AG, Solvay SA, Celanese Corporation, DuPont de Nemours, Inc., LG Chem Ltd., SABIC, Evonik Industries AG, Lanxess AG, and Mitsubishi Engineering Plastics Corporation. |
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Based on the product type, the market is segmented as acrylonitrile butadiene styrene, polyamide, polycarbonate, thermoplastic polyesters, polyacetals, fluoropolymers, peek, polyphenylene sulfide, polyphenylene oxide, PMMA, and others. The thermoplastic polyesters segment held the largest share of the market in 2019. On the other hand, the polyacetal segment is expected to register the fastest growth during the forecast period. Thermoplastic polyesters are the most widely used engineering plastics across the world and their popularity is mainly due to their high strength-to-weight-ratio, lightweight, excellent chemical resistance, and easy recyclability properties.
Based on the end-use industry type, the engineering plastics market is segmented as automotive & transportation, electrical & electronics, industrial & machinery, packaging, consumer appliances, medical, and others. The automotive & transportation segment dominates the market, owing to increasing usage of lightweight materials to address the industry challenges of increasing carbon emissions and increasing fuel efficiency. Automotive interior, exterior, hood, and powertrain are some of the major applications of the automotive & transportation segment.
In terms of regions, Asia-Pacific is estimated to be the largest market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the region’s market is mainly driven by the increasing urbanization, and substitution of many metals by suitable engineering plastics in various industries, such as packaging and automotive. Increasing automotive production in the region is one of the major factors driving the growth of the region’s market. The abundant availability of raw materials in the region is a core factor that is propelling the growth of the market.
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Some of the major players in the engineering plastics market are-
Engineering plastics are a group of performance polymer materials that offer better mechanical and thermal properties than commodity plastics such as polystyrene, PVC, polypropylene and polyethylene. Due to their peculiar traits such as stability, flame-resilience, chemical-resilience, exceptional machinability, dimension constancy, wear resistance, and minimal damaging friction, they are widely used in various industries such as automotive, aerospace, construction, mechanical, electrical, electronics and medical.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Engineering Plastics Market Research Report - Features |
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Market Segmentation |
3 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
15 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
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The engineering plastics market is segmented into the following categories.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The engineering plastics market is expected to witness an impressive growth of 7.6% CAGR in the foreseeable future.
BASF SE, Covestro AG, Solvay SA, Celanese Corporation, DuPont de Nemours, Inc., LG Chem Ltd., SABIC, Evonik Industries AG, Lanxess AG, and Mitsubishi Engineering Plastics Corporation are among the key players in the engineering plastics market.
Asia-Pacific is expected to remain the largest engineering plastics market during the next five years.
The automotive & transportation segment dominates the engineering plastics market.
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