COVID-19 Get an extensive COVID-19 analysis on the Engineering Plastics Market Request Free Sample

Market Summary

The global engineering plastics market is forecast to reach USD 138.59 Billion by 2026, according to a new report by Reports and Data. Engineering plastics possess physical properties that can be enabled to perform for extended use in structural applications for a wide temperature range, under mechanical stress, and in hostile chemical and physical environments. Engineering plastics can outperform commodity plastics in terms of mechanical and thermal properties.

Click here to enlarge

Compared to metals for certain applications, these plastics offer transparency, self-lubrication, an economy in fabricating and decorating with the almost same durability and toughness. Plastics can be flexible, and they are electrical nonconductors and thermo insulators also. Thence, plastics have the potential to replace the ceramics due to lesser amount of brittleness. Being more expensive, these plastics are produced in lower quantities and generally used for smaller objects or low-volume applications, rather than bulk-use or high-volume ends.

The global market is growing at a substantial pace due to highly increasing demands for engineering plastics in various crucial applications. Over the last few decades, engineering plastics have been rapidly developed to a point where it is considered to be potentially replacing many traditional materials like glass, metal, ceramic in various industries. Automotive segment has witnessed the highest amount of usage of the engineering plastics. About 21.0% of the overall market is acquired by automotive applications in 2018.

The Asia Pacific region is holding the highest market share of about 41.1% in 2018 in this market, followed by the European region, with 24.2% of market share. APAC, owing to its high, increasing rate of adapting engineering plastics in automotive & machinery coupled with rising production industries in this region, is growing with the fastest CAGR of 9.1% throughout the forecast period. China, Singapore, and India are some of the most active contributors in this region.

Key Coverage of the Report

Region and country wise statistics of the global Engineering plastics market from the period 2016-2026. While 2016 & 2017 has been utilized as historical data, 2018 is considered the base year. 2019-2026 have been derived as forecasts.

Estimation of the market size along with historical and forecasted trend analysis.

Various types of alternatives available have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.

The regulatory framework of each region.

Regional up-coming research and application outlook.

Status of on-going developments.

Demand and Supply GAP Analysis

Regional Competitors Pricing Strategy

Market share analysis of the top industry players

Strategic recommendations for the new entrants

Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)

Strategic recommendations in key business segments based on the market estimations

Competitive landscaping mapping the key common trends

Company profiling with detailed strategies, financials, and recent developments.

Salient Trends of the Engineering Plastics Market

Machinery, automotive and construction segments require the highest number of applications with the high mechanical strength or thermal resistance. Engineering plastics are perfectly capable of high impact strength, high fatigue, flexural and tensile strength, low water absorbency, good resistance to oils, greases, and many chemicals. These properties makes it a perfect fit for those end-use applications, and driving the market growth high every year.

Engineering plastics are most commonly used in 3D printing for its convenient properties. Acrylonitrile Butadiene Styrene (ABS) is the most used type in 3D printing. Other than this, Polyethylene Terephthalate (PET), Nylons, Polycarbonate (PC), and Polyamides are few of the materials, which are used in 3D printing. Fine balance of chemical and mechanical characteristics to offer extended stability, rigidity, flexibility, and shock resistance are the reasons these plastics are used in 3D printing. Use of these plastics for 3D printing is driving the market growth significantly.

Heat resistance, mechanical strength, rigidity, chemical stability and also unique combination of properties for each type of engineering plastics are the reasons the research and development for the same tends to get very extensive. Commercializing those add to extra costs and results in increasing the price by high margins. This can be a restraining factor for this market as the customers might choose some other type of plastics opting out of engineering plastics.

Acrylonitrile Butadiene Styrene is a thermoplastic and amorphous polymer which provides impact resistance and toughness as an end-use application. ABS is lightweight and has the ability to be injection molded and extruded which makes it quite useful in manufacturing products such as pipe systems, musical instruments, automotive trim components, automotive bumper bars, medical devices, enclosures for electrical and electronic assemblies and covers, protective headgear, whitewater canoes, furniture, luggage and protective carrying cases, small kitchen appliances, and toys, among others. ABS is growing with a CAGR of 7.6% during the forecast period.

Polyethylene Terephthalate (PET) has a market share of 10.9% in 2018 and is growing with a significant rate of 6.8% in the forecast period. PET is widely used to manufacture premium drinking water and soft drink bottles. Polyethylene Terephthalate is also used as a 3D printing filament as well as 3D printing plastic.

Polyoxymethylene is broadly used in automotive and electronic gadgets manufacturing industry. Some of its applications include small gear wheels, eyeglass frames, ball bearings, ski bindings, fasteners, guns, knife handles, lock systems and others. Polyoxymethylene has a CAGR of 11.3% during the forecast period.

The automotive industry has the highest number of usages of engineering plastics. Car bodies, exteriors, interiors, dashboards, headlights, seats, gear wheels, and tires are some of the extensive end-use applications of this market. The reason plastics are being used over metals or any other heavy metal is that plastics weigh lesser than those alternatives. Due to their low weight plastic helps reduce fuel consumption. About 24.1% of the market share is accounted to achieve by the end of 2026.

Europe is forecasted to witness a significant growth in the overall market, with 19.9% of market possession by 2026 and a CAGR of 4.8% during the forecast period.

May 2019, A Dutch chemical company named Royal DSM is planning to expand its business in India acquiring the engineering plastics business of a leading specialty materials company SRF Ltd.

Companies considered and profiled in this market study

BASF SE, Dowdupont, LG Chem Ltd., Asahi Kasei Corporation, Mitsubishi Engineering-Plastics Corporation, Polyplastics Co. Ltd, Royal DSM, Trinseo, Evonik Industries AG, LANXESS.

The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.

Market-O-Nomics

The valuation for the global engineering plastics market was USD 78.30 Billion in 2018, and it is forecasted to reach USD 138.59 Billion by 2026.

The Automotive sub-segment is predicted to generate the highest revenue of USD 33.40 Billion by 2026 with the fastest CAGR of 9.3% during the forecast period.

Machinery sub-segment will have a significant growth rate of 7.8% in the forecast period and a market share of 19.0% by 2026.

Acrylonitrile Butadiene Styrene (ABS) segment will possess a considerable market revenue of USD 17.46 Billion by 2026, with a CAGR of 7.6% during the forecast period.

Polyamides will be growing with a CAGR of 7.4% during the forecast period.

High Performance segment is measured to achieve a CAGR of 9.5% throughout the forecast period.

Segments covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this report, Reports and Data have segmented the global engineering plastic market on the basis of type, performance parameter, applications, and region:

Type Outlook (Revenue, USD Billion; 2016-2026)

Acrylonitrile Butadiene Styrene (ABS)

Nylons

Polyamides (PA)

Polybutylene Terephthalate (PBT)

Polycarbonates (PC)

Polyethers

Polyethylene Terephthalate (PET)

Polyimides (PI)

Polyoxymethylene (POM)

Polyphenylenes

Polysulphone (PSU)

Polytetrafluoroethylene (PTFE)

Performance Parameter Outlook (Revenue, USD Billion; 2016-2026)

High Performance

Low Performance

Applications of Plastic Outlook (Revenue, USD Billion; 2016-2026)

Packaging

Automotive

Electronics & Electrical Components

Construction

Machinery

Consumer Goods

Medical Products

Others

Regional Outlook (Revenue, USD Billion; 2016-2026)

North America U.S.

Europe UK France

Asia Pacific China India Japan

MEA

Latin America Brazil

