Engineering plastics are high-performance polymers which have physical properties for prolonged and efficient use. The main drivers of global engineering plastics market are alternatives of traditional materials like commodity and metals and developing end-use industries of engineering plastics. Mixture of lightweight and high strength properties makes engineering plastics appropriate for industrial applications and are propelled to fuel the engineering plastics market over the forecast period. Growth in demand for engineering plastics, companies is demanding new products that are used in several applications. In addition, companies are investing in the development of innovative technologies to improve the benefit of competition to increase the global engineering plastics market. Healthcare and packaging are the industries developing innovative technologies from the super engineering plastics market in the coming years.
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Factors that are driving the growth of engineering plastics market are rising the trend of improving the efficiency of fuel and decreasing weight of the vehicle related to the alternative of metal in the electrical & electronics and construction industry. Moreover, value of engineering plastics market is augmented by its development in end-use industries, as engineered plastics are used by molding the end-product. In addition, variation in the cost of crude oil and challenges of government about CO2 emissions are estimated to control the growth of global engineering plastics market.
Transportation & automotive is leading the engineering plastics industry. Engineering plastics are used in transportation & automotive industry for applications like housing & connectors, lighting, wheel well and components like fog lamp & headlamp, headlamp for structural housings, lighting sockets & reflectors. Value for engineering plastics in transportation & automotive industry is rising at fastest pace in APAC due to the enlargement of automobile sector in countries like China, India, South Korea and Japan. Growth of automobile sector in these regions is strongly driving the growth of engineering plastics industry.
Development and growth in the automotive industry are the factors that are fueling the global engineering plastics industry. Rise in the demand for electronics and electrical appliances across the globe surge to boost the engineering plastics market. Engineering plastics are mostly used in the aerospace industry for building spaceships which provide new opportunities for the growth of engineering plastics market globally.
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On the basis of type, engineering plastics industry is divided into polyamide (PA), polyacetal (POM), acrylonitrile butadiene styrene (ABS), polycarbonate (PC), fluoropolymer, thermoplastic polyester (PBT/ PET) and many more. Based on end-use industry, engineering plastics market is divided into machinery & industry, transportation & automotive, packaging, electronics & electrical, customer appliances and more.
Geographically, regions focusing on the development of engineering plastics market size are Europe, North America, Asia Pacific, South America and Middle East & Africa. Asia Pacific is leading the engineering plastics market and is growing rapidly. China is expected to hold the largest engineering plastics market share in the coming years. India is anticipated to develop the engineering plastics market over the forecast period.
Key players involved in the development of global engineering plastics market are Solvay, Evonik Industries, BASF SE, Celanese Corporation and more.
Key Segments in the “Global Engineering Plastics Market” are-
By Type, market is segmented into:
- Polyamide (PA)
- Polyacetal (POM)
- Acrylonitrile butadiene styrene (ABS)
- Polycarbonate (PC)
- Thermoplastic polyester (PBT/ PET)
By End-Use Industry, market is segmented into:
- Machinery & industry
- Transportation & automotive
- Electronics & electrical
- Customer appliances
By Regions market is segmented into:
- North America
- Asia Pacific
- South America
- Middle East & Africa
What to expect from the Global Engineering Plastics Market report?
– Predictions of future made for this market during the forecast period.
– Information on the current technologies, trends, devices, procedures, and products in the industry.
– Detailed analysis of the market segmentation, depending on the types, devices, and products.
– Government regulations and economic factors affecting the growth of the market.
– An insight into the leading manufacturers.
– Regional demographics of the market.
Who should buy this report?
– Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers ,researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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