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

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).

The competitive environment of the 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. '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'

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 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 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.

The 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 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.

North America serves as a keystone in the 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.

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).

The competitive environment of the 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. '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'

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 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 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.

The 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 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.

North America serves as a keystone in the 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.