Increasing purchasing power coupled with growing demand for automobiles to drive engineering plastics market in India through 2022
According to TechSci Research report, “India Engineering Plastics Market, By Polymer Type, By End Use Industry, Competition Forecast & Opportunities, 2012 – 2022”, India engineering plastics market is projected to reach $ 5.48 billion by 2022. Policy changes in the electrical and electronics industry coupled with government initiatives to support the revival of the electronics industry in the country are expected to boost demand for engineering plastics in the country during the forecast period. Moreover, bolstering consumer goods sector, owing to increasing disposable income and shifting international automotive production base to Asian countries, including India, is anticipated to thrive engineering plastics market in the country during the next five years.
Browse 2 Tables and 50 Figures spread through 74 Pages and an in-depth TOC on “India Engineering Plastics Market”
Increasing Foreign Direct Investment (FDI) in end use industries, such as automotive, consumer goods and electrical & electronics, favorable government regulatory environment in the electronics sector, increasing population and robustly growing national GDP are the other factors expected to positively influence India engineering plastics market through 2022. Additionally, impact resistance, heat resistance, high strength and dimensional stability are some of the properties of engineering plastics anticipated to contribute towards increasing demand for ABS, SAN and Polyamide, etc., from different end use industries in the country.
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“Emergence of engineering plastics as a substitute to traditionally used materials such as metals and wood, coupled with its extensive application in automotive sector offers high growth potential for engineering plastic products market in India. Also, recyclability of engineering plastics, growing trend of developing bio-based plastics and development of metal detecting engineering plastics are expected to provide growth prospects to companies engaged in engineering plastics business in India over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting.
“India Engineering Plastics Market, By Polymer Type, By End Use Industry, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the future growth potential of India engineering plastics market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India engineering plastics market.
- Styrolution ABS (INDIA) Limited
- Gujarat Fluorochemicals Limited
- BASF India Limited
- Bhansali Engineering Polymers Limited
- SRF Limited
- LG Polymers India Pvt. Ltd.
- DSM Engineering Plastics India
- Ester Industries Ltd.
- Ensinger India Engineering Plastics Private Ltd.
- I. DuPont India Private Limited
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