Scope of the Study
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.
The market study is being classified by Type (Acrylonitrile Butadiene Styrene (ABS), Fluoropolymer, Polyamide (PA), Polycarbonate (PC), Polyoxymethylene (POM), Thermoplastic polyester (PET/PBT) and Others) and major geographies with country level break-up. According to AMA, the Global Engineering Plastics market is expected to see growth rate of 6.9% and may see market size of USD118.02 Billion by 2024.
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) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are DSM (Netherland), Eastman Chemical Company (United States) and Arkema S.A (France).
Research Analyst at AMA predicts that German Vendors will contribute to the maximum growth of Global Engineering Plastics market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Engineering Plastics market by Type, Application and Region.
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). 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.
Key Target AudienceEngineering Plastics Manufacturers, Raw Material Suppliers, Government & Industry Associations, Regulatory Bodies, End-User Industries and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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