Future Market Insights delivers key insights on the global engineering plastics market in an upcoming research publication titled, “Engineering Plastics Market: Global Industry Analysis and Opportunity Assessment, 2016 – 2026”. The global engineering plastics market is projected to register a healthy CAGR of 7.2% in terms of value and 5.7% in terms of volume during the forecast period. Future Market Insights analyses the market performance and provides information on the key factors and trends impacting market growth over the forecast period 2016–2026.
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Among all products in the plastic industry, Engineering Plastics are projected to be the fastest growing segment over the forecast period (2016–2026). In terms of value, the global Engineering Plastics market is estimated to be valued at US$ 66.2 Bn by the end of 2016 and is expected to reach US$ 132.8 Bn by the end of 2026, registering a CAGR of 7.2% during the forecast period. Global consumption of engineering plastics is estimated to register a CAGR of 5.7% by volume over the forecast period (2016-2026).
A growing use of engineering plastics by end user industries, especially automotive, transportation, and medical industries is expected to drive global demand over the forecast period. Rapid urbanisation, infrastructure development, and increased income levels across various end-user segments are other factors likely to boost the growth of the global engineering plastics market. However, high costs of engineering plastics, increasing use of alternative substitutes, and fluctuations in the cost of raw materials are expected to hamper the growth of the global engineering plastics market over the forecast period.
Global sales revenue of engineering plastics is expected to witness steady incremental growth during the forecast period. In the product type category, the high performance plastics segment is anticipated to register a healthy CAGR of 9.6% between 2016 and 2026, attributed to an increasing application in the medical industry. In the application category, the electrical and electronics segment is estimated to account for 36% value share of the global engineering plastics market by 2016, followed by the automotive and transportation segment (32.1%) and the construction segment (11.1%).
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Market segmentation
By Product Type
- Polyamides (PA)
- Polycarbonates (PC)
- Polyoxymethylene (POM)
- Polybutylene terephthalate (PBT)
- Acrylonitrile butadiene styrene (ABS) and Styrene Acrylonitrile (SAN)
- High Performance Polymers
- Fluoropolymers
- Polymethyl methacrylate (PMMA)
- Others (includes UHMWPE/UHMW, TPI alloys and blends, etc.)
By Application
- Automotive and transportation
- Interiors and safety
- Exteriors and structural
- Engine and mechanical
- Others (includes fuel systems & electric and electronic components)
- Electrical and electronics
- Consumer appliances
- Electronic products
- Others (includes lighting, optical media, wire & cable, and electronic components)
- Construction
- Glazing and sky lighting
- Pipes and fittings
- Others (includes wall outlets, building bricks)
- Medical
- Diagnostic and drug delivery systems
- Medical devices
- Others (includes surgical instruments, orthopaedic implants and orthopaedics)
- Industrial and machinery
- Packaging
- Others (includes furniture and fixtures, sports goods, leisure products, etc.)
Key regions
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- Italy
- Spain
- Nordic Countries
- BENELUX
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- APEJ
- China
- India
- Australia and New Zealand
- Rest Of APEJ
- Japan
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
Companies dominating the global engineering plastics market
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 Limited, Toray Industries, and Victrex PLC are some of the top companies operating in the global engineering plastics market.
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Engineering Plastics Market: Region-wise Insights
This report also covers trends driving each segment and offers analysis and insights of the potential of the engineering plastics market in specific regions. The APEJ region is expected to exhibit the highest market growth due to an increase in population, income levels, and rapid urbanisation in the region. There is plenty of scope in the APEJ region for manufacturing automobiles, consumer appliances, electronic products, medical devices, industrial, and machineries. The APEJ region is anticipated to register a CAGR of 6.8% between 2016 and 2026 in terms of volume. APEJ is expected to gain substantial market share owing to high demand from India and China, especially in the automotive and electrical and electronics industries. The North America market is expected to register a CAGR of 7.3% during the forecast period, owing to an increasing consumption of engineering plastics in the automotive and transportation industry in the region. In terms of volume, the market share of Western Europe and Japan is expected to decrease substantially over the forecast period, as they are mature markets for engineering plastics.