Press Release

India Engineering Plastics Market to Grow with a CAGR of 5.26% through 2029

Growth in research and development activities is expected to drive the India Engineering Plastics Market growth in the forecast period, 2025-2029

According to TechSci Research report, “India Engineering Plastics Market- By Region, Competition, Forecast and Opportunities, 2019-2029”, the India Engineering Plastics Market stood at USD 3.98 billion in 2023 and is anticipated to grow with a CAGR of 5.26% in the forecast period, 2024-2029. Initiatives taken by government based on engineering plastics has led to favorable market conditions for the India Engineering Plastics Market. Several factors contribute to the growth of various engineering plastics products. End Plastic Pollution International Collaborative (EPPIC): This groundbreaking public-private partnership, initiated by the U.S. Department of State, aims to tackle the urgent issue of plastic pollution through innovative and sustainable solutions. By bringing together governments, NGOs, and businesses, EPPIC fosters collaboration and cooperation to address the global challenge of plastic waste. With a shared commitment to environmental stewardship, EPPIC strives to create a cleaner and healthier future for our planet and future generations. Research and development activities play a pivotal and indispensable role in driving the growth of the engineering plastics market. These activities not only contribute to technological advancements but also foster the development of innovative products that cater to the ever-evolving demands of various industries. For instance, in response to the increasing trend of lightweight vehicles, there is a growing demand for engineering plastics that offer high strength and reduced weight. In this context, research and development initiatives are instrumental in exploring and developing new, lightweight plastic materials that can meet the stringent requirements of the automotive industry while ensuring optimal performance and sustainability. By investing in research and development, the engineering plastics sector can continue to push boundaries, introduce groundbreaking solutions, and stay at the forefront of innovation in the dynamic market landscape. The India Engineering Plastics Market is segmented into polymer type, end user, regional distribution, and company.


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Based on its polymer type, the ABS segment held the largest market share in the forecast period. In addition to its strength and durability, ABS is also reaping the benefits of the ongoing trend of metal replacement in a wide range of applications. With its excellent mechanical properties and resistance to impact, ABS has emerged as a versatile substitute for metals in various industrial sectors. From automotive components to consumer electronics, ABS offers a lightweight and cost-effective solution that delivers the required performance without compromising on quality. This has propelled its adoption in diverse applications, making it a popular choice for manufacturers seeking efficient and reliable alternatives to traditional metal materials. Based on region, West India segment is expected to grow during the forecast period. 

The government's unwavering focus on industrial development in this region has yielded a wide array of favorable policies and initiatives. These measures have not only succeeded in attracting significant investments, but they have also fostered an environment that nurtures the growth and expansion of the sector. As a result, this region has become a thriving hub for businesses, driving economic progress and creating numerous employment opportunities for the local population.


Major companies operating in India Engineering Plastics Market are:

  • Gujarat Fluorochemicals Limited
  • BASF India Limited
  • LG Polymers India Pvt. Ltd.
  • Radici Plastics India Pvt. Ltd.
  • APPL Industries Limited
  • E.I. DuPont India Private Limited


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“Growing application of engineering plastics in various end user industries are key drivers of the engineering plastics market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of engineering plastics with every passing year are anticipated to register an impressive growth to India Engineering Plastics Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“India Engineering Plastics Market By Polymer Type (ABS, Polycarbonate, SAN, Polyamide, PBT, Others), By End User (Automotive, Electrical & Electronics, Consumer Goods, Others), By Region, By Competition Forecast & Opportunities, 2019-2029”, has evaluated the future growth potential of India Engineering Plastics Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Engineering Plastics Market.



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