Engineering Plastic Market Growth, Trends, Size, Share, Demand, Industry Analysis, Key Player profile, Regional Outlook and Research Analysis by 2022

Market Research Future has published a half-cooked research report on the Global Engineering Plastic Market - Forecast to 2022

Market Insights:

Engineering Plastics are specially produced plastic material with a number of end-uses due to their superior mechanical and thermal properties. PVC, polystyrene, polypropylene are some examples of commonly used Engineering Plastic. Market Research Future has found that the Global Engineering Plastics Market is expected to witness positive growth during the forecast period which ends in 2022. Engineering plastic is has properties such a high abrasion wear, fatigue resistance, high impact strength and several others.

Some common uses of Engineering Plastics are in the production of automotive parts such as car bumpers and dashboard trim, in toy products such as Lego bricks, and in sporting and protective equipment such as motorcycle helmets, skies, and boots, to name a few. Lightweight and thermal properties make Engineering Plastics superior to commodity plastics. Engineering Plastics are easy to manufacture, but are more expensive, as they have a longer life. Complex shapes are easy to produce thus driving the market. The automotive sector is one of the most significant users of Engineering Plastic. Growth of this sector due to the high demand for personal transportation from a large, global urban population with increasing purchasing power is one of the key drivers for the market. 

Mechanical parts are also made using this type of plastic. Other properties that Engineering Plastics display that offer high growth opportunity to the Global Engineering Plastics Market include chemical stability, self-lubrication, heat resistance, and fire retardation. Another significant use of Engineering Plastics is in electrical and electronic products, their various helpful properties lend themselves to the production of lightweight and high-performance products which are in high demand.

Volatile prices of raw materials are likely to challenge market growth over the forecast period.

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Key Players:

Eminent Market Players profiled in MRFR’s report include Lanxess AG, Celanese Corporation, Evonik Industries AG, Covestro, BASF SE, Mitsubishi Engineering-Plastics Corporation, Solvay S.A., LG Chem Ltd., Saudi Basic Industries Corporation, and E. I. du Pont de Nemours and Company.

Latest Industry News:

Solvay as launched new grades of Ryton PPS for extrusion applications in the automotive sector. The new grades are highly flexible and lightweight.

DuPont has launched new high temperature nylon and polybutylene terephthalate which are fire retardant, and high-performance materials designed for automotive surface and electrical component applications.

Market Segmentation:

The Global Engineering Plastic Market is segmented in MRFR's report on the basis of Product, Application, and Region.

By Product, the market is segmented into polyamide, acrylonitrile butadiene styrene (ABS), thermoplastics, polyesters, polycarbonates, and others. Among these, the ABS segment accounts for the largest share on the basis of product due to the high demand for it. ABS is in high demand as it has properties such as chemical resistance, high temperature resistance, mechanical potency, and several others.

Applications of Engineering Plastics are found in construction, electrical & electronics, automotive, consumer goods, and others. The automotive segment is the largest consumer of Engineering Plastic as they have extensive applications in the automotive industry. Used for production of lighting components, connectors, and other automotive parts, Engineering Plastics are expected to witness increased demand from this segment due to increasing demand for personal transportation vehicles.

Regional Segmentation divides the global market into North America, Europe, Asia Pacific, and the Rest of the World.

Regional Analysis:

Asia Pacific is expected to lead the market with the most significant share due to the high demand for Engineering Plastics in the region. All end-use industries where Engineering Plastics are used are growing at a swift pace in the APAC. Construction, electronics, automotive, and others have high demand in this rapidly urbanizing region. Increasing purchasing power have led to an increase in demand for Engineering Plastics in chemicals, power generation, automobile and other industries.

Browse Key Industry Insights spread across 111 pages with 27 market data tables & 15 figures & charts from the report, “Engineering Plastic Market Information: By  Product (Polyamide, Acrylonitrile-Butadiene-Styrene, Thermoplastics Polyesters, Polycarbonate and Others), Application (Construction, Electrical & Electronics, Automotive, Consumer Goods, and Others) and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2022” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/engineering-plastic-market-2161                

Engineering Plastic Market 2019 | Challenges, Key Players, Industry Segments, Development, Opportunities, Forecast Report 2022

Global Engineering Plastic Market - Overview

Engineering plastics are group of plastic material such as polystyrene, PVC, polypropylene and polyethylene and others. These materials have superior properties such as higher impact strength, high abrasion, wear and fatigue resistance. It has better mechanical and thermal properties. Engineering Plastics are expensive and are manufactured for special purpose applications only. These are usually thermoplastic materials. Hence these materials can be easily processed with conventional plastic processing machinery.

According to a recent study report published by the Market Research Future, the global market of engineering plastic is booming and expected to gain prominence over the forecast period. The Global Engineering Plastic Market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2017 – 2023).

High growth in automotive industry is the major factor driving the growth of the market. It has the slightly similar properties to metals and in light weight. Hence, these materials have been largly substituting some metal components in auto as well as industrial machineries and help in weight reduction. Additionally, high demand for electronics and electrical appliances among the consumers also fuelling the growth of the market. However, higher cost, fluctuating price of crude oil and regulatory challenges regarding CO2 emissions are some factors may hamper the growth of the market.

Global Engineering Plastic Market - Competitive Analysis

Global Engineering Plastic Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.

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Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Engineering Plastic strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Engineering Plastic for every application.

Industry News

In April 2016, Quadrant, a leading manufacturer of high-performance thermoplastic materials, completes the acquisition of Piper Plastics, Inc. for its Global Engineering Plastic Products (QEPP) business unit.

In August 2015, RadiciGroup, a global producer of engineering thermoplastics including polyamide, polyester, polyacetal and TPEs, announced the formation of Radici Plastics S. de R.L. de C.V. through the acquisition of the polyamide engineering plastics division of Resinas TB.

Global Engineering Plastic Market - Segmentation

Global Engineering Plastic Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.

Segmentation:

On the basis of Product, market is segmented into Polyamide, Acrylonitrile Butadiene Styrene, Thermoplastics Polyesters, Polycarbonate and Others. Acrylonitrile-Butadiene-Styrene is dominating product segment of the engineering plastic market.

Based on Application segment the market is segmented into Construction, Electrical & Electronics, Automotive, Consumer Goods, and Others. Automotive segment dominates application segment of the market. Engineering Plastic material are widely used in the automotive & transportation industry for applications such as connectors & housing, under-the-hood components, wheel well, lighting & components.

Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

Global Engineering Plastic Market - Regional Analysis

Asia Pacific region dominates the Global Engineering Plastic Market. Rapid industrialization, and urbanization is the major factor driving the growth of the market. Additionally, growing demand from end use industries like petrochemicals, power generation, automobile manufacturing, packaging, electrical & electronics, and so on, and the increasing government spending in infrastructure activities are also fuelling the growth of the market in region. 

China, India, and Japan are the major market in the region. China is expected to account for the largest share in the Asia-Pacific region whereas India is expected to register the fastest growth in the Engineering Plastics Market, during the forecast period.

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North America is another major market for the Engineering Plastic. It is expected to contribute significantly during the forecast period.  

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Engineering Plastic Market 2018 Segmentation by Product Types and Application with Forecast to 2022

Market Insights

Engineering Plastics are specially produced plastic material with a number of end-uses due to their superior mechanical and thermal properties. PVC, polystyrene, polypropylene are some examples of commonly used Engineering Plastic. Market Research Future has found that the Global Engineering Plastics Market is expected to witness positive growth during the forecast period which ends in 2022. Engineering Plastic is has properties such a high abrasion wear, fatigue resistance, high impact strength and several others.

Some common uses of Engineering Plastics are in the production of automotive parts such as car bumpers and dashboard trim, in toy products such as Lego bricks, and in sporting and protective equipment such as motorcycle helmets, skies, and boots, to name a few. Lightweight and thermal properties make Engineering Plastics superior to commodity plastics. Engineering Plastics are easy to manufacture, but are more expensive, as they have a longer life. Complex shapes are easy to produce thus driving the market. The automotive sector is one of the most significant users of Engineering Plastic. Growth of this sector due to the high demand for personal transportation from a large, global urban population with increasing purchasing power is one of the key drivers for the market. 

Mechanical parts are also made using this type of plastic. Other properties that Engineering Plastics display that offer high growth opportunity to the Global Engineering Plastics Market include chemical stability, self-lubrication, heat resistance, and fire retardation. Another significant use of Engineering Plastics is in electrical and electronic products, their various helpful properties lend themselves to the production of lightweight and high performance products which are in high demand.

Volatile prices of raw materials are likely to challenge market growth over the forecast period.

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Key Players

Eminent market players profiled in MRFR’s report include Lanxess AG, Celanese Corporation, Evonik Industries AG, Covestro, BASF SE, Mitsubishi Engineering-Plastics Corporation, Solvay S.A., LG Chem Ltd., Saudi Basic Industries Corporation, and E. I. du Pont de Nemours and Company.

Latest Industry News

Solvay as launched new grades of Ryton PPS for extrusion applications in the automotive sector. The new grades are highly flexible and lightweight.

DuPont has launched new high temperature nylon and polybutylene terephthalate which are fire retardant, and high performance materials designed for automotive surface and electrical component applications.

Market Segmentation

The Global Engineering Plastic Market is segmented in MRFR's report on the basis of product, application, and region. 

By product, the market is segmented into polyamide, acrylonitrile butadiene styrene (ABS), thermoplastics, polyesters, polycarbonates, and others. Among these, the ABS segment accounts for the largest share on the basis of product due to the high demand for it. ABS is in high demand as it has properties such as chemical resistance, high temperature resistance, mechanical potency, and several others.

Applications of Engineering Plastics are found in construction, electrical & electronics, automotive, consumer goods, and others. The automotive segment is the largest consumer of Engineering Plastic as they have extensive applications in the automotive industry. Used for production of lighting components, connectors, and other automotive parts, Engineering Plastics are expected to witness increased demand from this segment due to increasing demand for personal transportation vehicles.

Regional segmentation divides the global market into North America, Europe, Asia Pacific, and the Rest of the World.

Regional Analysis

Asia Pacific is expected to lead the market with the most significant share due to the high demand for Engineering Plastics in the region. All end-use industries where Engineering Plastics are used are growing at a swift pace in the APAC. Construction, electronics, automotive, and others have high demand in this rapidly urbanizing region. Increasing purchasing power have led to an increase in demand for Engineering Plastics in chemicals, power generation, automobile and other industries.

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Engineering Plastic Market 2018 | Precise Study on Factors, Drivers and Key Players Strategies Analyzed Till 2022

Overview:

Engineering Plastic materials exhibit better mechanical and thermal properties than that of commodity plastic materials. Market Research Future (MRFR) asserts Global Engineering Plastic Market is expected to record an astonishing growth by the end of the forecast period (2016-2022). Engineering Plastic has unique properties such as higher impact strength, high abrasion, wear and fatigue resistance, chemical resistance, and extensive service temperature range based on the material. It is perfect for various end-user industries.

Drivers and Restraints:

The automotive sector is proving to be a major industry propelling the growth of the engineering plastic market. At present, this industry is experiencing a need to replace metal. Engineering Plastic is a perfect replacement owing to its similar properties to metal and being lightweight in nature. The other potent factor is its lower manufacturing time and higher tensile strength. This can also replace die-casted metal parts for thin-walled designs.

Other industries, such as electronics and electrical appliances are looking for materials that can reduce weight. Engineering Plastic has future prospects in spaceship construction projects in the aerospace industry.

However, it is also facing tough competition from other materials such as polymers. Also, high-production cost, fluctuating price of crude oil, and regulatory challenges regarding CO2 emissions can restrain the Global Engineering Plastic Market growth.

Segments:

The Global Engineering Plastic Market has been segmented based on Product and Application.
Product-wise segmentation includes polyamide, acrylonitrile-butadiene-styrene, thermoplastics polyesters, polycarbonate, and others. Among these, acrylonitrile-butadiene-styrene can account for the largest market share till the end of the forecast period. High impact, chemical resistance, heat stability, mechanical potency, and high-temperature resistance are some of the properties of acrylonitrile-butadiene-styrene or ABS making it apt for applications in electrical & electronic parts, automotive and transportation, pipes and fittings, and various consumer products. The demand for ABS is primarily driven by the consumer products and electrical & electronics sectors. In the electronics and electrical sectors, it is used for applications in mobile phones, computers, MP3-players, and so on.

By Application, the market can be segmented into construction, electrical & electronics, automotive, consumer goods and others. Rising demand for lighter and sturdier replacement of metal has made the automotive industry the largest consumer of Engineering Plastic. Electrical & electronics and consumer goods segments are following automotive in amount of consumption.

Regional Analysis:

Regional segmentation of the Global Engineering Plastic Market covers North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Asia Pacific has the highest market share, and the growing automotive sector has proven itself a boon for the engineering plastic market. China leads the market owing to the fastest growing automotive sector. Ample availability of raw materials and low cost of production is expected to take the market to the next level. India has emerged as a strong contender for the first position with booming automotive industry.

North America and Europe are both expected to witness steady growth till the end of the forecast period. However, Europe is spending more on research and development owing to stringent measures taken by the European Union regarding emission and safety rules.

Due to substantial investment from foreign companies, South America is about to experience a radical shift in industrial development in coming years in RoW. Sectors such as chemicals, construction, automotive, packaging, and electronics, hold high growth prospects for the engineering plastics market and are likely to boost the same by 2022.

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Engineering Plastic Market 2018 | Driving Factors, Industry Analysis, Investment Feasibility and Trends, Outlook -2022

Engineering Plastics are group of plastic material which has better mechanical and thermal properties. The group of plastic such as polystyrene, PVC, polypropylene and polyethylene are used as Engineering Plastic. These materials have special properties such as higher impact strength, high abrasion, wear and fatigue resistance. Engineering Plastic are manufactured for special applications due to which they are expensive.

On the Basis of Product, Acrylonitrile Butadiene Styrene (ABS) is dominating the Engineering Plastic Market since they it largely consumed due to its various properties such as high impact, mechanical potency, and high temperature resistance.  Acrylonitrile provides chemical resistance, heat stability and ease of processing. Butadiene provides strength and toughness. On the basis of application, automotive segment has the largest market share in the Engineering Plastic Market. They are mostly used in automotive & transportation industry as connectors, wheel well lighting component such as headlamp, fog lamps, among others. Asia-Pacific is expected to account for the largest market share for the forecast period. 

Regional Analysis of Engineering Plastic Market 

The Engineering Plastic Market can be geographically segmented into North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). Asia-Pacific is expected to dominate the global engineering plastic market due to highest demand in the region. Rapid industrialization, growing demand by industries such as chemicals, power generation, automobile, and packaging, has led to the growing demand for engineering plastic. 

Key Players 

The key players of Engineering Plastic Market are BASF SE (Germany), Covestro (Germany), Solvay S. A. (Belgium), Celanese Corporation (U.S.), E. I. du Pont de Nemours and Company (U.S.), LG Chem Ltd. (South Korea), Saudi Basic Industries Corporation (Saudi Arabia), Evonik Industries AG (Germany), Lanxess AG (Germany), and Mitsubishi Engineering-Plastics Corporation (Japan). 

Intended Audience 

Engineering Plastic manufacturers
Distributer & Supplier companies
End Users
Consultants and Investment bankers
Government as well as Independent Regulatory Authorities 

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Engineering Plastic Market 2018: Trends, Size, Share, Growth and Forecast 2022

Market Highlights
Engineering Plastics are group of plastic material which has better mechanical and thermal properties. The group of plastic such as polystyrene, PVC, polypropylene and polyethylene are used as Engineering Plastic. These materials have special properties such as higher impact strength, high abrasion, wear and fatigue resistance. Engineering Plastic are manufactured for special applications due to which they are expensive. The major driver for the growth of Engineering Plastic Market are growth in the automotive industry and growing demand in electronics and electrical appliances. Engineering plastic helps in reduction of weight due to its property of light weight. These are replacing the conventional materials such as alloys, glass and metals because it has similar property of metals.

Key Players
The key players of Engineering Plastic Market are BASF SE (Germany), Covestro (Germany), Solvay S. A. (Belgium), Celanese Corporation (U.S.), E. I. du Pont de Nemours and Company (U.S.), LG Chem Ltd. (South Korea), Saudi Basic Industries Corporation (Saudi Arabia), Evonik Industries AG (Germany), Lanxess AG (Germany), and Mitsubishi Engineering-Plastics Corporation (Japan).

Market Research Analysis
The market is highly application driven. Automotive sector is dominating the Engineering Plastic Market because they are widely used in automotive industry for various applications like connectors, wheel well, lighting components like headlamp, fog lamps etc. Engineering Plastic helps in reduction of overall weight and which will eventually reduce the vehicle emission. Various companies are carrying out intensive research and development activities so as to innovate and develop new products.

Asia-Pacific region is expected to dominate the Engineering Plastic Market with highest CAGR due to rapid industrialization, End-use industries such as chemical, automotive manufacturer, electric & electronics have demanding more of Engineering Plastic. The government spending in infrastructure activities has increased due to which there is increasing demand for Engineering Plastic in this region. The Engineering Plastic Market is expected to grow higher in North America and Europe due to increasing penetration of Engineering Plastic in Asia, Middle East & Africa. Global engineering plastic market is expected to cross market size of USD 90 billion by the end of 2022.

However the cost of the material is high which can hamper the growth of the market.

Scope of the Report
This study provides an overview of the Global Engineering Plastic Market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Engineering Plastic Market by its products, application and region.

By Product

• Polyamide
• Acrylonitrile-Butadiene-Styrene
• Thermoplastics Polyesters
• Polycarbonate
• Others

By Application

• Construction
• Electrical & Electronics
• Automotive
• Consumer Goods
• Others

By Region

• North America
• Asia Pacific
• Europe
• Rest of the World

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