According to the latest report by IMARC Group, titled “Global Engineering Plastics Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global engineering plastics market reached a value of US$ 104.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 167.5 Billion by 2027, exhibiting at a CAGR of 7.50% during 2022-2027. Engineering plastics refer to a group of plastic materials that have improved mechanical and thermal properties when compared to the more commonly utilized commodity plastics. They are generally used to manufacture mechanical parts, containers, packaging substances, etc. Engineering plastics are the preferred alternatives to metals and ceramics owing to their lightness, excellent load capacity, mechanical strength, thermal stability, high durability, etc. Some widely used engineering plastic variants include polyamides, polycarbonates, nylon 6, acrylonitrile butadiene styrene, polysulphone, etc. They are utilized to manufacture car bumpers, dashboard trims, ski boots, helmets, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Engineering Plastics Market Trends:
The shifting consumer preferences towards lightweight automobiles are among the key factors driving the engineering plastics market. In line with this, the growing product requirement in the production of numerous vehicle components is further propelling the market growth. Moreover, the rising investments by private and public bodies in infrastructural development projects are also augmenting the global market. Besides this, the increasing utilization of polyvinyl chloride (PVC) pipes in water supply systems is acting as another significant growth-inducing factor. Additionally, the expanding product usage in the manufacturing of consumer electronics is expected to fuel the engineering plastics market over the forecasted period.
Global Engineering Plastics Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- 3M Company
- Arkema S.A.
- Avient Corporation
- BASF SE
- Celanese Corporation
- Daicel Corporation
- DuPont de Nemours Inc.
- Eastman Chemical Company
- Ineos Limited
- LANXESS Aktiengesellschaft
- Solvay S.A.
Breakup by Type:
- Thermoplastic Polyesters
Breakup by Performance Parameter:
- High Performance
- Low Performance
Breakup by Application:
- Building and Construction
- Electrical and Electronics
- Consumer Products
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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