Super Engineering Plastics Market 2018 | Share, Competitive Analysis and Industry Segments Poised for Strong Growth in Future 2023

Engineering Plastics are a group of Plastic materials that have better mechanical and thermal properties than most widely used commodity Plastics.  Super Engineering Plastics are at the highest end of the spectrum of engineering plastics with very high strength and thermal resistance. There are some important properties exhibited by the Super Engineering Plastics, which includes resistant to impact, heat and abrasion, high mechanical strength, self-lubricant, fire safety and chemical stability. These properties of the super engineered plastics make it the material of choice in vast number of industries as well as domestic applications. The Super Engineering Plastics are generally used in high temperature, high stress, and harsh environmental conditions. Applications of the super engineering plastics can be found in diverse industries including automotive and transportation, electrical & electronics, packaging, healthcare, textiles, and sports. The Super Engineered Plastics find their uses in manufacturing bumpers and dash boards of automobile, and pipes for carrying drain-waste. Being a good insulator they are used in making handlebars and plug connectors of electronic devices. 

The characteristic features of Super Engineering Plastics, such as high heat, impact and abrasion resistance along with the chemical stability and ability to operate in harsh environmental conditions, are the favoring the growth in its demand over widely used commodity plastics namely polystyrene, PVC, polyethylene and others. Modifying motor vehicle acts are compelling use of the bumpers made of the Super Engineering Plastics to reduce death rates in case of car dash. This in turn is expected to fuel demand of the product over the forecasted period. The growing automotive and transportation industry accounts for major share of overall demand of the super engineering plastics. During the forecast period automotive industry is estimated to grow at highest CAGR, thereby expected to drive growth of the Global Super Engineering Plastics. Apart from automotive and transportation industry, demand of electrical & electronics industry in heading north owing the growth in use of portable and other household electronic devices. However, being more expensive Super Engineering Plastics are produced in smaller quantities and tend to be used for low-volume applications rather than high-volume ends. Nevertheless, in coming years, the technological advancements through R&D is anticipated to bring a plastic material which will be cheaper and stronger at the same time in the market. 

Regional Analysis: 

Asia Pacific, North America, Europe, Middle East & Africa, and Latin America are the five key regions in the Global Super Engineering Plastics Market. Among them Asia Pacific is the fastest growing market on account of the huge consumption of the product in this region. The region accounts for ~45% share of the global super engineering plastics market, which is attributed to the growing automotive and transportation industry. India, China, and Japan are the major markets in this region owing to the established automotive and electronics industries in these countries. North America is second most significant region in the Global Super Engineering Plastic Market.

Aerospace and automotive industries in U.S. is witnessing a steady rise in demand of the super engineering plastics. Europe is another substantial region in the Global Super Engineered Plastic Market. There is growing demand of this product for manufacturing packaging material for food and container bottles for beverages.  Countries namely Germany, U.K., France and Italy, are the major markets in this region on account of established automotive industries. Automotive industry is increasingly making use of Super Engineering Plastics for manufacturing the number of under-hood parts. The Middle East & Africa is growing at significant rate owing to the growth potential of hitherto untapped market in automotive, sports and construction sectors. U.A.E, Qatar, and Saudi Arabia are likely to lead the regional market throughout the forecast period. Lastly, Latin America is anticipated to gain momentum due to the economic and political stability in Brazil. 

Segmentation: 

The Global Super Engineering Plastics Market is segmented on the basis of type, end use industries, and region. On the basis of type the market has been divided into Acrylonitrile butadiene styrene (ABS), Polyamide (PA), Polybutylene terephthalate (PBT), Polyethylene terephthalate (PET), Polyether ether ketone (PEEK), Polyphenylene sulfide (PPS), and others. Among them, ABS is holding major share of overall demand of super engineering plastics. Based on end use industries the global super engineering plastic market is segmented into Automotive & transportation, electrical & electronics, packaging, textile, sports and others. Geographically, the market is divided into five key regions namely Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. 

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Super Engineering Plastics Market is likely to grow at CAGR of 7% owing to an increasing demand from automotive and transportation industry

Market Overview:
Engineered plastic is a material exhibiting advanced mechanical and thermal properties. Generally the Engineering Plastic constitutes a group of plastics which distinguish themselves from commodity plastics primarily by demonstrating improved mechanical behavior over a wide range of stress and temperature. Basically all high temperature resistant plastics are being regarded as Engineering Plastics. The super engineering plastics lie one level up on the spectrum of the Engineering Plastics. It exhibits comparatively more advanced properties such as high thermal and mechanical resistance, fire safety and great chemical properties. These characteristic features of the Super Engineering Plastics favor its demand over the commodity plastics. Modifying motor vehicles acts and growing environmental concerns in favor of conservation of natural resources such as iron and other metals fuelling the demand of super engineering plastics for making bumper, dash boards and other under-hood automotive parts.

Competitive Analysis:
Key players in the Global Super Engineering Plastics Market are Solvay SA (Belgium), Tosoh Corporation (Japan), DIC CORPORATION (Japan), TORAY INDUSRTIES, INC. (Japan), KUREHA CORPORATION (Japan), NHU Materials Co. (China), LION IDEMITSU COMPOSITES CO.,LTD (Japan), BASF SE (Germany), Huntsman International LLC. (U.S.), LG Chem. (South Korea).

Market Segmentation:
The Global Super Engineering Plastics Market is segmented on the basis of type, end use industries, and region. On the basis type the market is divided into Acrylonitrile butadiene styrene (ABS), Polyamide (PA), Polybutylene terephthalate (PBT), Polyethylene terephthalate (PET), Polyether ether ketone (PEEK), Polyphenylene sulfide (PPS), and others. Among these types, ABA is holding ~35% share of overall demand of super engineering plastics owing to its applications in major end use industries such as automotive industry and other household use. In addition to automotive industry, ABS finds applications in manufacturing pipes for carrying drain-waste, enclosures of electrical assemblies, and protective headgears. Growing demand of ABS for making protective gears and high end plastic equipment in sports industry are expected to propel the product demand.  Polyamide (PA) is second major segment in terms of overall demand of Super Engineering Plastics. Transport manufacturing industry is the major consumer of polyamide, which accounts for 35% of PA consumption. Apart from this, synthetic polyamides are also used in textile, carpet making, and sports industry. Moreover, polybutylene terephthalate (PBT) and Polyethylene terephthalate (PET) are also substantial type of Super Engineering Plastics. The major applications of PBT can be found in making insulating heads of housing electrical and automotive electronics and as a yarn in sportswear. Excellent water and moisture barrier ability of PET makes it useful in manufacturing bottles and containers for soft drinks and flexible food packaging material.

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Based on end use industries the Global Super Engineering Plastics Market is segmented into Automotive & transportation, electrical & electronics, packaging, textile, sports and others. Automotive & transportation industry is the leading consumer of overall super engineering plastics. The Super Engineering Plastics are used to manufacture bumper and dash boards, electronics insulation, gasket and packaging in automotive. The growing demand of vehicles around the world is expected to drive the market of super engineering plastics. Electrical & electronics industry also consume sizeable amount of super engineering plastics in vast number of applications such as an insulator, enclosures in electronics assemblies of various equipment’s and devices. In household electrical, the applications of Super Engineering Plastics can be found in plug connectors and handle bars of high voltage electronic devices. Furthermore, packaging industry is one of the major end use industries of Super Engineering Plastics. The PET bottles and cans are majorly used in packaging foods and beverages. Rapidly changing lifestyle has increased the use of packaged food which is anticipated to continue over the forecast period to propel growth of the Global Super Engineering Plastics Market.

Regional Analysis:
Geographically, the Global Super Engineering Plastics Market is divided into five key regions including Asia Pacific, North America, Europe, Middle East & Africa and Latin America.  Asia pacific holds the major share of overall Super Engineering Plastics Market in terms of market size. It accounts for ~40% of the Global Super Engineering Plastics Market. India, China, and Japan are the leading markets in this region owing the growth of automotive & transportation industries in these countries. North America is also one of the significant region in the Global Super Engineering Plastics Market. U.S. is the major market in this region wherein aerospace and automotive sector is a primary consumer of Super Engineering Plastics. Europe is a substantial region in the Global Super Engineering Plastics Market. Countries namely Germany, U.K., France, and Italy are the major markets in this region due to the well-established automotive industry in these countries. The Middle East & Africa is estimated grow at considerable CAGR during the forecast period on account of growing investment activities and potential market in this region. Latin America is projected to join hands with the leading regions in the Global Super Engineering Plastics Market with pacifying political and economic situation in Brazil.

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Key Points from Table of Contents:

11.    Company Profiles   

11.1       Solvay SA
11.1.1    Company Overview
11.1.2    Product/Business Segment Overview
11.1.3    Financial Updates
11.1.4    Key Developments

11.2       Tosoh Corporation
11.2.1    Company Overview
11.2.2    Product/Business Segment Overview
11.2.3    Financial Updates
11.2.4    Key Developments

11.3       DIC CORPORATION
11.3.1    Company Overview
11.3.2    Product/Business Segment Overview
11.3.3    Financial Updates
11.3.4    Key Developments

11.4       TORAY INDUSRTIES, INC.
11.4.1    Company Overview
11.4.2    Product/Business Segment Overview
11.4.3    Financial Updates
11.4.4    Key Developments

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