Report Description

Global Engineering Plastics Market is projected to grow at an impressive rate through 2028 due to increasing demand in automobile sector. At the end of fiscal year 2022, around 3.7 million passenger vehicles were produced across India.

Engineering plastics are frequently used to produce mechanical parts, containers, and packaging materials. Due to their high mechanical strength, engineering plastics quickly replace metals and wood in the construction and automotive industries. These components lighten the car as a whole and improve fuel economy. They manufacture vehicle exterior and interior parts and elements for the drivetrain. Due to its excellent resilience to various environmental conditions like chemicals, high temperatures, and abrasion, engineering plastic is also utilized throughout the electronic sector. It is, therefore, the perfect material for producing consumer electronics.

The COVID-19 epidemic has hindered the market because lockdowns, societal barriers, and trade bans have caused significant disruptions to global supply chain networks. Due to the stoppage of operations, the automobile and construction industries have seen a dip; nonetheless, the sector had growth in 2021. According to the International Organization of Motor Vehicle Manufacturers (formally known as OCIA), the automotive industry saw a favorable growth rate of 8.4% in the first nine months of 2021 compared to the same period in 2020. On the other hand, the packaging and medical industries are experiencing increased demand for engineering plastics due to the need for protective shields, masks, and PPE kits, as well as improved health awareness.

Growing Demand from Automotive and Transportation

Due to incredible structural stiffness, engineering plastics quickly replace metals and wood in the building and automotive industries. These parts make the car lighter overall, increasing fuel efficiency. They provide components for the drivetrain and exterior and interior features for automobiles. For instance, SABIC PP compound G3430X and SABIC PP compound G3440X grades, two new glass fiber-reinforced polypropylene compositions, were announced in August 2022. For a car's demanding interior, exterior, and under-hood requirements, they provide increased performance.

Substitute of Metals

Due to their lightweight properties, engineering plastics are frequently utilized as preferred substitutes for metal and ceramic. They provide improved load capacity, mechanical characteristics, thermal stability, and lifespan and offer design flexibility. Nylon 6, polysulfide, and polyamides (PA), polycarbonates (PC), and polysulfide and polyamides (PSU) are among the engineering plastic types that are frequently used. They are widely employed in various sectors to create optical discs, ski boots, dashboard trim, and car bumpers.

Growing Technological Advancement

Due to the technological advancements that will lead to engineering plastics being used, the construction, medical, and consumer segments will all have substantial growth for polycarbonate. Still, overall sales of CDs and DVDs will continue to drop, causing them to follow the industry average. The quickest growth will be seen in engineering plastics with smaller volumes, including polyphenylene sulfide, sulfone polymers, fluoropolymers, and polyether ether ketone. The overall demand will be driven by specialized applications in developed markets and use in innovative goods such as enhanced batteries, solar modules, and medical implants. These resins will be utilized more frequently in the electrical, electronic, and automotive industries because they are frequently required to meet high-temperature requirements and because the cost premium can be rationalized from an economic standpoint.

Growing purchasing power in developing nations is a significant factor, hence the demand for engineering plastics. The main forces behind this are, to name a few, hitherto untapped prospects to replace metals not only in cars but also in household goods, buildings, and infrastructure.

Recent Developments

·         In February 2021, Ather Energy, EV manufacturer in India. Invested USD86.5 million to establish two-wheelers factory in Hosur (Tamil Nadu) which reportedly can be produced annually 0.11 million at the Ather Energy facility. It is predicted that the growth of the Electric Vehicle (EV) industry will increase demand for engineering plastics in India. In February 2022, BASF acquired Solvay's PA66 business, and will begin its business in several polyamides & poly-phthalimide (PPA) grades in Europe.


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Market Segmentation

The global Engineering Plastics market is segmented by type, and by end use. Based on type, the market is segmented into acrylonitrile butadiene styrene (ABS), polyamide (PA), polycarbonate (PC), thermoplastic polyester (PET/PBT), polyacetal (POM), fluoropolymer and others. Based on end use, the market is segmented into automotive & transportation, electrical & electronics, industrial & machinery, packaging, consumer appliances and others

Market players

Covestro AG, Solvay S.A., LG Chem, DowDuPont Inc., Evonik Industries, SABIC, Lanxess AG, Chevron Corporation, LyondellBasell Industries N.V., and BASF SE are some of the key market players.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, Volume in metric tons, and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, Volume Forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Type

·         End Use

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

United States, Canada, Mexico; China, India, Japan, South Korea, Australia; Germany, France, United Kingdom, Italy, Spain; Brazil, South Africa, UAE, Saudi Arabia, Turkey, and Egypt.

Key companies profiled

Covestro AG, Solvay S.A., LG Chem, DowDuPont Inc., Evonik Industries, SABIC, Lanxess AG, Chevron Corporation, LyondellBasell Industries N.V., and BASF SE

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Global Engineering Plastics Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

  • Global Engineering Plastics market, by type:
    • Acrylonitrile Butadiene Styrene (ABS)
    • Polyamide (PA)
    • Polycarbonate (PC)
    • Thermoplastic polyester (PET/PBT)
    • Polyacetal (POM)
    • Fluoropolymer
    • Others
  • Global Engineering Plastics Market, by end use industry:
    • Automotive & Transportation
    • Electrical & Electronics
    • Industrial & Machinery
    • Packaging
    • Consumer Appliances
    • Others
  • Global Engineering Plastics Market, by region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • France
      • Germany
      • United Kingdom
      • Italy
      • Spain
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
    • South America
      • Brazil
    • Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

§  Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies in Global Engineering Plastics Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Engineering Plastics Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, and Trends

4.    Voice of Customer

5.    Global Engineering Plastics Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value & Volume

5.2.  Market Share & Forecast

5.2.1.     By Type (Acrylonitrile Butadiene Styrene (ABS), Polyamide (PA), Polycarbonate (PC), Thermoplastic polyester (PET/PBT), Polyacetal (POM), Fluoropolymer and Others)

5.2.2.     By End Use Industry (Automotive & Transportation, Electrical & Electronics, Industrial & Machinery, Packaging, Consumer Appliances and Others))

5.2.3.    By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)

5.2.4.     By Company (2022)

5.3.  Market Map

5.3.1.     By Type

5.3.2.     By End Use

5.3.3.     By Region

5.4.  Pricing Analysis

6.    North America Engineering Plastics Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Type

6.2.2.     By End Use

6.2.3.     By Country

6.3.  Pricing Analysis

6.4.  North America: Country Analysis

6.4.1.     United States Engineering Plastics Market Outlook

6.4.1.1.         Market Size & Forecast

6.4.1.1.1.             By Value & Volume

6.4.1.2.         Market Share & Forecast

6.4.1.2.1.             By Type

6.4.1.2.2.             By End Use

6.4.2.     Mexico Engineering Plastics Market Outlook

6.4.2.1.         Market Size & Forecast

6.4.2.1.1.             By Value & Volume

6.4.2.2.         Market Share & Forecast

6.4.2.2.1.             By Type

6.4.2.2.2.             By End Use

6.4.3.     Canada Engineering Plastics Market Outlook

6.4.3.1.         Market Size & Forecast

6.4.3.1.1.             By Value & Volume

6.4.3.2.         Market Share & Forecast

6.4.3.2.1.             By Type

6.4.3.2.2.             By End Use

7.    Europe Engineering Plastics Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Type

7.2.2.     By End Use

7.2.3.     By Country

7.3.  Pricing Analysis

7.4.  Europe: Country Analysis

7.4.1.     France Engineering Plastics Market Outlook

7.4.1.1.         Market Size & Forecast

7.4.1.1.1.             By Value & Volume

7.4.1.2.         Market Share & Forecast

7.4.1.2.1.             By Type

7.4.1.2.2.             By End Use

7.4.2.     Germany Engineering Plastics Market Outlook

7.4.2.1.         Market Size & Forecast

7.4.2.1.1.             By Value & Volume

7.4.2.2.         Market Share & Forecast

7.4.2.2.1.             By Type

7.4.2.2.2.             By End Use

7.4.3.     United Kingdom Engineering Plastics Market Outlook

7.4.3.1.         Market Size & Forecast

7.4.3.1.1.             By Value & Volume

7.4.3.2.         Market Share & Forecast

7.4.3.2.1.             By Type

7.4.3.2.2.             By End Use

7.4.4.     Italy Engineering Plastics Market Outlook

7.4.4.1.         Market Size & Forecast

7.4.4.1.1.             By Value & Volume

7.4.4.2.         Market Share & Forecast

7.4.4.2.1.             By Type

7.4.4.2.2.             By End Use

7.4.5.     Spain Engineering Plastics Market Outlook

7.4.5.1.         Market Size & Forecast

7.4.5.1.1.             By Value & Volume

7.4.5.2.         Market Share & Forecast

7.4.5.2.1.             By Type

7.4.5.2.2.             By End Use

8.    Asia-Pacific Engineering Plastics Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Type

8.2.2.     By End Use

8.2.3.     By Country

8.3.  Pricing Analysis

8.4.  Asia-Pacific: Country Analysis

8.4.1.     China Engineering Plastics Market Outlook

8.4.1.1.         Market Size & Forecast

8.4.1.1.1.             By Value & Volume

8.4.1.2.         Market Share & Forecast

8.4.1.2.1.             By Type

8.4.1.2.2.             By End Use

8.4.2.     India Engineering Plastics Market Outlook

8.4.2.1.         Market Size & Forecast

8.4.2.1.1.             By Value & Volume

8.4.2.2.         Market Share & Forecast

8.4.2.2.1.             By Type

8.4.2.2.2.             By End Use

8.4.3.     Japan Engineering Plastics Market Outlook

8.4.3.1.         Market Size & Forecast

8.4.3.1.1.             By Value & Volume

8.4.3.2.         Market Share & Forecast

8.4.3.2.1.             By Type

8.4.3.2.2.             By End Use

8.4.4.     South Korea Engineering Plastics Market Outlook

8.4.4.1.         Market Size & Forecast

8.4.4.1.1.             By Value & Volume

8.4.4.2.         Market Share & Forecast

8.4.4.2.1.             By Type

8.4.4.2.2.             By End Use

8.4.5.     Australia Engineering Plastics Market Outlook

8.4.5.1.         Market Size & Forecast

8.4.5.1.1.             By Value & Volume

8.4.5.2.         Market Share & Forecast

8.4.5.2.1.             By Type

8.4.5.2.2.             By End Use

9.    South America Engineering Plastics Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.3.  By Type

9.4.  By End Use

9.5.  Pricing Analysis

9.6.  South America: Country Analysis

9.6.1.     Brazil Engineering Plastics Market Outlook

9.6.1.1.         Market Size & Forecast

9.6.1.1.1.             By Value & Volume

9.6.1.2.         Market Share & Forecast

9.6.1.2.1.             By Type

9.6.1.2.2.             By End Use

10.  Middle East and Africa Engineering Plastics Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Type

10.2.2.  By End Use

10.2.3.  By Country

10.3.              Pricing Analysis

10.4.              MEA: Country Analysis

10.4.1.  South Africa Engineering Plastics Market Outlook

10.4.1.1.      Market Size & Forecast

10.4.1.1.1.           By Value & Volume

10.4.1.2.      Market Share & Forecast

10.4.1.2.1.           By Type

10.4.1.2.2.           By End Use

10.4.2.  Saudi Arabia Engineering Plastics Market Outlook

10.4.2.1.      Market Size & Forecast

10.4.2.1.1.           By Value & Volume

10.4.2.2.      Market Share & Forecast

10.4.2.2.1.           By Type

10.4.2.2.2.           By End Use

10.4.3.  UAE Engineering Plastics Market Outlook

10.4.3.1.      Market Size & Forecast

10.4.3.1.1.           By Value & Volume

10.4.3.2.      Market Share & Forecast

10.4.3.2.1.           By Type

10.4.3.2.2.           By End Use

10.4.4.  Turkey Engineering Plastics Market Outlook

10.4.4.1.      Market Size & Forecast

10.4.4.1.1.           By Value & Volume

10.4.4.2.      Market Share & Forecast

10.4.4.2.1.           By Type

10.4.4.2.2.           By End Use

10.4.5.  Egypt Engineering Plastics Market Outlook

10.4.5.1.      Market Size & Forecast

10.4.5.1.1.           By Value & Volume

10.4.5.2.      Market Share & Forecast

10.4.5.2.1.           By Type

10.4.5.2.2.           By End Use

11.  Market Dynamics

11.1.              Drivers

11.2.              Challenges

12.  Market Trends & Developments

12.1.              Merger & Acquisition

12.2.              Product Launches

12.3.              Recent Developments

13.  Porters Five Forces Analysis

13.1.              Competition in the Industry

13.2.              Potential of New Entrants

13.3.              Power of Suppliers

13.4.              Power of Customers

13.5.              Threat of Substitute Products

14.  Competitive Landscape

14.1.              Business Overview

14.2.              Company Snapshot

14.3.              Products & Services

14.4.              Financials (In case of listed companies)

14.5.              Recent Developments

14.6.              SWOT Analysis

14.6.1.  Covestro AG

14.6.2.  Solvay S.A.

14.6.3.  LG Chem

14.6.4.  DowDuPont Inc.

14.6.5.  Evonik Industries

14.6.6.  SABIC

14.6.7.  Lanxess AG

14.6.8.    Chevron Corporation

14.6.9.    LyondellBasell Industries N.V.

14.6.10.  BASF SE

Strategic Recommendations

Figures and Tables

Frequently asked questions

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Based on end use, the market is segmented into automotive & transportation, electrical & electronics, industrial & machinery, packaging, consumer appliances and others.

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Covestro AG, Solvay S.A., LG Chem, DowDuPont Inc., Evonik Industries, SABIC, Lanxess AG, Chevron Corporation, LyondellBasell Industries N.V., and BASF SE are key market players operating in the Global Engineering Plastics market.

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Automotive & Transportation is expected to capture the highest market share in the forecast period.

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The Asia Pacific is dominating the market and is expected to maintain its dominance over the next five years.

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