USD 101.42 billion
Global Engineering Plastics Market Size, Share, Growth Analysis, By Type(Acrylonitrile Butadiene Styrene (ABS), Polyamide), By Parameters(High Performance, Low Performance), By Application(Abrasion Resistant Liners, Acid Trays), By End-Use(Automotive and Transportation, Consumer Appliances) - Industry Forecast 2024-2031
Report ID:
SQMIG45A2217 |
Region:
Global |
Published Date: February, 2024
Pages:
197
|
Tables:
126 |
Figures:
73
Global Engineering Plastics Market Insights
Global Engineering Plastics Market size was valued at USD 101.42 billion in 2021 and is poised to grow from USD 107.2 billion in 2022 to USD 167.03 billion by 2030, growing at a CAGR of 5.6% in the forecast period (2023-2030).
Engineering plastics serve as essential materials in the production of mechanical components, containers, and packaging materials. Renowned for their lightweight nature, they stand as a favored alternative to traditional metals and ceramics.
Their widespread adoption stems from a combination of factors, including exceptional load capacity, mechanical robustness, thermal stability, and impressive durability, all while allowing for versatile design options.
Among the commonly utilized variants are polyamides (PA), polycarbonates (PC), nylon 6, acrylonitrile butadiene styrene (ABS), and polysulfone (PSU).
These materials find extensive application across various sectors, playing integral roles in manufacturing car components such as bumpers and dashboard trims, as well as in crafting ski boots, helmets, and optical discs. Their versatility and superior properties make engineering plastics indispensable in diverse industries for creating durable, high-performance products.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
Boat Windscreen
Growth Rate
5.6% CAGR
Global Engineering Plastics Market ($ Bn)
Country Share for North America Region (%)
Global Engineering Plastics Market By Application (%)
To get more reports on the above market click here to Buy The Report
Global Engineering Plastics Market Segmental Analysis
The global engineering plastics market can be categorized into the following segments. Based on type, the market can be categorized into Acrylonitrile Butadiene Styrene (ABS), Polyamide, Polycarbonates, Thermoplastic polyester, others. Based on parameters, the market can be categorized into high performance, low performance. Based on application, the market can be categorized into abrasion resistant liners, acid trays, anti-corrosive liners, braking tray liners, bearings, bench top, boat chopping board, boat windscreen, bolts and nuts, others. Based on end-use, the market can be categorized into automotive and transportation, consumer appliances, electrical and electronics, industrial and machinery packaging and others. Based on region, the market can be categorized into North America, Europe, Asia Pacific, The Middle East and Africa.
Analysis by Application
The bolts and nuts segment plays a significant role, serving as a crucial application area for these specialized materials. Engineering plastics are increasingly utilized in the manufacturing of bolts and nuts due to their distinct properties, including exceptional strength, corrosion resistance, and the ability to withstand varying temperatures and environmental conditions.
The boat windscreen segment plays a crucial role as a key application area for these specialized materials. Engineering plastics find extensive use in crafting boat windscreens due to their unique combination of properties, including high impact resistance, excellent optical clarity, and superior weatherability. These materials offer notable advantages over traditional glass, such as reduced weight, increased design flexibility, and enhanced durability, crucial for marine applications.
Analysis by End-Use
The electrical and electronics segment stands as a keystone within the global engineering plastics market, representing a crucial application area for these specialized materials. Engineering plastics play an indispensable role in this segment due to their exceptional properties, including high heat resistance, electrical insulation, and mechanical strength. These materials are extensively employed in manufacturing components for electrical devices and electronics, such as connectors, insulators, housings, and circuitry components. Their use in this sector is driven by the need for lightweight, durable, and thermally stable materials that can withstand the rigorous demands of electrical systems while ensuring safety, reliability, and performance.
The industrial and machinery packaging segment holds a significant position in the global engineering plastics market, serving as a pivotal application area for these specialized materials. Engineering plastics play a crucial role in this sector due to their robust mechanical properties, impact resistance, and versatility in packaging applications for industrial machinery and equipment. These materials offer an array of benefits, including exceptional strength-to-weight ratio, resistance to chemicals and harsh environments, and the ability to endure varying temperatures and stresses.
Global Engineering Plastics Market By Application, 2021 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Engineering Plastics Market Regional Insights
North America serves as a keystone in the global engineering plastics market, primarily owing to its robust and diverse industrial framework encompassing automotive, electronics, healthcare, packaging, construction, and other sectors. Within these industries, engineering plastics play an integral role, leveraging their exceptional attributes such as lightweight composition, enduring durability, and remarkable resistance to chemicals.
During the forecast period from 2023 to 2030, the Asia Pacific region is poised to assert its dominance in the Engineering Plastics Market. Projections indicate that by 2030, the Asia Pacific region is anticipated to secure the largest market share. This robust growth trajectory is fueled by escalating demand primarily originating from powerhouse nations such as China, Japan, and India. The region's rapid pace of market expansion underscores its pivotal role in driving the overall growth of the engineering plastics industry.
Global Engineering Plastics Market By Region, 2023-2030
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Engineering Plastics Market Dynamics
Drivers
Technological Advancements in Electronics Industry may Foster the Growth
- The relentless surge in technological advancements within the electronic products sector continues to fuel a consistent demand for newer and faster electrical and electronic goods. By 2022, the global revenue within this sector reached a substantial USD 5,807 billion. Asia-Pacific emerged as the dominant force, commanding a significant 74% market share, followed by Europe holding a 13% share. Forecasts predict a robust growth trajectory for the global electrical and electronics market, anticipating a Compound Annual Growth Rate (CAGR) of 6.71% during the forecast period. This trajectory underscores the persistent momentum and expanding opportunities within this dynamic industry, propelled by evolving consumer preferences and the continuous evolution of technology driving innovation and market expansion.
Restraints
High Costs of Engineering Plastics
- The market growth of engineering plastics faces a potential hindrance due to the significant costs associated with these materials, largely attributed to the volatility in raw material prices. Engineering plastics boast enhanced properties and undergo complex processing, which inevitably influences the final cost of these materials. Consequently, the intricate production processes and superior attributes of engineering plastics contribute to their higher price point, posing a challenge to market expansion.
Request Free Customization of this report to help us to meet your business objectives.
Global Engineering Plastics Market Competitive Landscape
The competitive environment of the global engineering plastics market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
Top Player’s Company Profiles
- 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
- Toray
- Victrex Plc.
- Ashland
- Arkema
Recent Developments
- In March 2022, Celanese Corporation, a renowned global chemical and specialty materials company, successfully completed the reorganization of Korea Engineering Plastics Co. This strategic move has positioned Celanese to expand its offerings in polyoxymethylene (POM) products by leveraging access to the global POM polymerization facilities previously owned by Korea Engineering Plastics Co. This acquisition not only marks a significant milestone in Celanese's growth strategy but also presents an opportunity to strengthen its presence in the global market for POM materials.
- In February 2023, Covestro AG unveiled Makrolon 3638, a specialized polycarbonate engineered specifically for healthcare and life sciences applications. This innovative addition to their portfolio is tailored to cater to various sectors within healthcare, including drug delivery devices, wellness and wearable technology, and single-use containers essential for biopharmaceutical manufacturing. Makrolon 3638 stands as a testament to Covestro's commitment to advancing materials designed to meet stringent standards within these critical industries.
Global Engineering Plastics Key Market Trends
- The global market for engineering plastics is experiencing significant impetus driven by the growing consumer preference for lightweight automobiles worldwide. This shift in preference has propelled the widespread adoption of engineering plastics in manufacturing various vehicle components, bolstering market growth on a global scale. Additionally, substantial investments from both private and public sectors in infrastructural development projects have spurred increased utilization of polyvinyl chloride (PVC) pipes for water supply systems.
Global Engineering Plastics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Engineering plastics find diverse applications, spanning from interior wall panels and aerospace doors to both rigid and flexible packaging solutions. Driving the growth of the global engineering plastics market are key industries such as packaging, electrical and electronics, and automotive sectors. Notably, packaging and electrical/electronics segments played substantial roles in shaping the market landscape, representing approximately 24.07% and 30.93% of the overall engineering plastics market revenue in 2022, respectively.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 101.42 billion |
| Market size value in 2030 | USD 167.03 billion |
| Growth Rate | 5.6% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Engineering Plastics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Engineering Plastics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Engineering Plastics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Engineering Plastics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Engineering Plastics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Engineering Plastics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Engineering Plastics Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
