Global Engineering Plastics Market Overview:
Engineering plastics, a group of plastic materials that have better thermal and mechanical properties. Of late, the consumption of engineering plastics has increased drastically due to various reasons including increasing urbanization, and the growth in the demand from the packaging and automotive sector globally. Moreover, the growth in the production of automotive in both developing and developed nations, the market for engineering plastics have benefitted to a great extent in the upcoming years. Some of the key players profiled in the study are BASF SE (Germany), Covestro AG (Germany), Celanese Corporation (United States), DuPont (United States), Solvay S.A (Belgium), LG Chem Ltd (South Korea), Sabic (Saudi Arabia), Evonik Industries AG (Germany), Lanxess AG (Germany) and Mitsubishi Chemical Engineering Corporation (Japan). According to Market Analyst at AMA, the Global Engineering Plastics market may see a growth rate of 6.9% and would reach the market size of USD118.02 Billion by 2024.
On the basis of geography, the market of Engineering Plastics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Vertical, the sub-segment i.e. Automotive & transportation will boost the Engineering Plastics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Surging Demand in Beverage Packaging and Automotive Sector Globally
- The Growth in the Replacement of Traditional Materials by Engineering Plastics
- Growing Popularity of Bio-based PET
- Highly Expensive and Limited Production Rate of Engineering Plastics
- Increasing Purchasing Power among Consumers in Emerging Nations
- The Emergence of BioPlastics as an Alternative
- Stringent Environmental Regulations Promoting the USe of Eco-Friendly Products
- Stringent Government Regulations Regarding CO2 Emissions
In the United States and around the globe, chemicals management and product regulations impact businesses in the plastics industry as it strives to meet the needs of consumers by manufacturing the safest, strongest and most technologically advanced products and materials in the world. The Plastics Industry Association (PLASTICS) encourages every manufacturer, no matter what their product, to maintain the highest possible standards of product stewardship.
Target Audience:Engineering Plastics Manufacturers, Raw Material Suppliers, Government & Industry Associations, Regulatory Bodies, End-User Industries and Others
Major Objectives Focused through this Study To define, describe, and forecast the Global Engineering Plastics market on the basis of product [Acrylonitrile Butadiene Styrene (ABS), Fluoropolymer, Polyamide (PA), Polycarbonate (PC), Polyoxymethylene (POM), Thermoplastic polyester (PET/PBT) and Others] , application , key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Engineering Plastics market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Engineering Plastics industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are DSM (Netherland), Eastman Chemical Company (United States) and Arkema S.A (France).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Engineering Plastics market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.