Global engineering plastics market is estimated to be valued at USD 119.32 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. Engineering plastics are synthetic materials that have a combination of desirable properties that allow them to be used in engineering applications. These typically have physically tough characteristics like high strength, hardness, and resistance to heat as compared to commodity plastics. The key types of engineering plastics include polycarbonate (PC), acrylonitrile butadiene styrene (ABS), polyamide (PA), polyethylene terephthalate (PET), and polyvinyl chloride (PVC). These materials are used widely in applications such as automotive components, electrical and electronic devices, consumer goods, industrial machinery, and construction.
Market Dynamics:
Global engineering plastics market growth is driven by increasing consumption of engineering plastics in automotive and electrical & electronics industries. Engineering plastics offer advantages like high heat resistance, durability, and lower weight as compared to metals, and this makes them suitable for applications in automotive components. The exponential growth of the electrical & electronics industry along with miniaturization of devices has boosted demand for engineering plastics. However, volatility in raw material prices can hamper the market growth. Increasing concerns about non-biodegradability of plastics poses a challenge for the market growth. T Rising demand for bio-based and recycled engineering plastics to address sustainability issues can offer market growth opportunities.
Key Features of the Study:
- This report provides in-depth analysis of the global engineering plastics market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global engineering plastics market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include Arkema Group, 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., Bhansali Engineering Polymers Limited., Chiripal Poly Film., Gujarat Fluorochemicals Limited (GFL), Hindustan Fluorocarbons Limited., INEOS.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- Global engineering plastics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global engineering plastics market.
Detailed Segmentation-
- By Product Type:
- Polyamides (PA)
- Polycarbonates (PC)
- Acrylonitrile butadiene styrene (ABS)
- Styrene Acrylonitrile (SAN)
- Polyoxymethylene (POM)
- Polybutylene terephthalate (PBT)
- Fluoropolymers
- Others
- By Applications:
- Automotive and Transportation
- Interiors and Safety
- Engine and Mechanical
- Exteriors and Structural
- Others (include fuel systems, electrical and electronics)
- Electrical and Electronics
- Consumer Appliances
- Others (include lighting, optical media, wire and cable, electronic components)
- Construction
- Glazing and Sky Lighting
- Pipes and Fittings
- Others (Wall outlets, building bricks)
- Medical
- Diagnostic and Drug Delivery Systems
- Medical Devices
- Others (include surgical instruments, orthopedic implant, and orthopedics)
- Industrial and Machinery
- Packaging
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- Arkema Group
- 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.
- Bhansali Engineering Polymers Limited.
- Chiripal Poly Film.
- Gujarat Fluorochemicals Limited (GFL)
- Hindustan Fluorocarbons Limited.
- INEOS
