Global Engineering Plastic Market Growth 2024-2030
Engineering Plastic, valued at US$ 98.73 billion in 2023, are expected to reach US$ 155.14 billion by 2030, with a 6.7% CAGR driven by growing demand in downstream sectors.
According to Publisher’s latest study, the global Engineering Plastic market size was valued at US$ 98730 million in 2023. With the growing demand in the downstream market, Engineering Plastic is forecast to a readjusted size of US$ 155140 million by 2030 with a CAGR of 6.7% during the review period.
The research report highlights the growth potential of the global Engineering Plastic market. Engineering Plastic is expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimisation remain crucial for the widespread adoption of Engineering Plastic. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalise on the immense opportunities presented by the Engineering Plastic market.
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Engineering plastics are a group of plastic materials that have better mechanical and/or thermal properties than the more widely used commodity plastics, Engineering Plastics have a good overall performance, rigidity, creep is small, high mechanical strength, heat resistance, electrical insulation, and can be used in relatively harsh chemical or physical environment for long periods, may use as a structural material.
Key Features:
The report on the Engineering Plastic market reflects various aspects and provides valuable insights into the industry.
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Manmayi Raval
Research Consultant
Market Size and Growth: The research report provides an overview of the current size and growth of the Engineering Plastic market. It may include historical data, market segmentation by Type (e.g., General Engineering Plastics Type, Special Engineering Plastics), and regional breakdowns.
Market Drivers: The growing demand from end-use sectors, particularly automotive & transportation and electrical & electronics, is propelling the global market for engineering plastics onto a robust growth trajectory. Over the coming years, it is anticipated that these end consumers will also drive the market.
The electrical and electronics industry has a significant demand for engineering plastics because of the rise in sales of appliances, such include refrigerators, televisions, and iron boxes. These polymers are essential to the production of consumer appliances.
Challenges- Growing opposition to alternative plastics. The other polymers pose a serious threat to engineering plastic materials, especially in lower-end engineering resins. For instance, commodity polymers like polypropylene are competitors of ABS. When copolymerized with ethylene, polypropylene, which is strong and flexible, performs better than ethylene. In markets where prices are competitive, such as consumer goods and appliances, the danger posed by alternative polymers is more apparent.
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Environmental NGOs regularly protest the usage of plastics because they are both sustainable and detrimental to the environment. Plastics used in the packaging and automotive industries are particularly criticized for their contribution to problems with solid waste disposal and profitable recycling. These sectors are currently taking cautious steps to further incorporate engineering plastics into their goods.
Technological Developments: The research report can delve into the latest technological developments in the Engineering Plastic industry. This includes advancements in Engineering Plastic technology, Engineering Plastic new entrants, Engineering Plastic new investment, and other innovations that are shaping the future of Engineering Plastic.
Government Policies and Incentives: The research report analyses the impact of government policies and incentives on the Engineering Plastic market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting the Engineering Plastic market. The report also evaluates the effectiveness of these policies in driving market growth.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provides market forecasts and outlook for the Engineering Plastic industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: Financially attractive market. Numerous companies are involved in this industry due to the expanding need for engineering plastics and the new uses for them. an increasing number of domestic and international players in each nation. The degree of market fragmentation and the heightened competitiveness in the engineering plastics industry underscore the market's appeal.
Market Segmentation:
The Engineering Plastic market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. In terms of product, the segment includes General Engineering Plastics Type and Special Engineering Plastics. In terms of application, the application includes the Automotive Industry, Electronics Industry, Building Materials, Other Applications, and Packaging industry.
1. Segmentation by type
• General Engineering Plastics Type
• Special Engineering Plastics
2. Segmentation by application
• Automotive Industry
• Electronics Industry
• Building Materials
• Packaging industry
• Others
Regional Insights- Due in significant part to the fast industrialization and expansion of the manufacturing sectors in nations like China, India, and Japan, Asia Pacific now comprises the largest market segment. This area benefits from rising demand in the electronics, construction, and automotive industries as well as an increased interest in high-performance materials. The expansion of the industry in this region is further aided by the accessibility of raw materials and the relocation of production facilities to these nations because of the reduced cost of labour. Furthermore, the engineering plastics market in the American area is distinguished by highly developed industrial sectors and a robust presence of significant market participants. Construction, electronics, and the automobile industries all have substantial needs in this area. The market dynamics are significantly influenced by technological breakthroughs sustainability-focused innovations and investments in high-performance materials. The United States, with its established industrial and technological basis, is a major contributor to this industry. In addition, a firmly established automotive sector, together with sophisticated manufacturing and research and development capacities, propel the European market. Market trends are greatly influenced by the region's emphasis on environmental sustainability and strict laws about materials and emissions. Using their technological and industrial know-how, European nations such as Germany, France, and the UK are major players in the market. Furthermore, although smaller than other regions, the Middle East and Africa market is expanding because of rising demand in the automotive and construction industries. Infrastructure development is the market's main driver, especially in nations like Saudi Arabia and the United Arab Emirates. Due to increased urbanization and population growth, the area also has promise for expansion in the consumer products and packaging industries. South Africa is the largest market, with a share of about 30%, followed by Nigeria and Egypt, having a total share of about 40 per cent.
3. Americas
• United States
• Canada
• Mexico
• Brazil
4. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
5. Europe
• Germany
• France
• UK
• Italy
• Russia
6. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape: In Africa, Engineering Plastickey players include Ineos, Asahi Chemical Corp, China National Petroleum Corporation (CNPC), ASCEND, Secco, etc. The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
• Ineos
• Asahi Chemical Corp
• China National Petroleum Corporation (CNPC)
• ASCEND
• Secco
• Sinopec Group
• Formosa Plastics
• DSM
• Tae Kwang Industrial
• CPDC
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Engineering Plastic Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Engineering Plastic by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Engineering Plastic by Country/Region, 2019, 2023 & 2030
2.2 Engineering Plastic Segment by Type
2.2.1 General Engineering Plastics Type
2.2.2 Special Engineering Plastics
2.3 Engineering Plastic Sales by Type
2.3.1 Global Engineering Plastic Sales Market Share by Type (2019-2024)
2.3.2 Global Engineering Plastic Revenue and Market Share by Type (2019-2024)
2.3.3 Global Engineering Plastic Sale Price by Type (2019-2024)
2.4 Engineering Plastic Segment by Application
2.4.1 Automotive Industry
2.4.2 Electronics Industry
2.4.3 Building Materials
2.4.4 Packaging industry
2.4.5 Others
2.5 Engineering Plastic Sales by Application
2.5.1 Global Engineering Plastic Sale Market Share by Application (2019-2024)
2.5.2 Global Engineering Plastic Revenue and Market Share by Application (2019-2024)
2.5.3 Global Engineering Plastic Sale Price by Application (2019-2024)
3 Global Engineering Plastic by Company
3.1 Global Engineering Plastic Breakdown Data by Company
3.1.1 Global Engineering Plastic Annual Sales by Company (2019-2024)
3.1.2 Global Engineering Plastic Sales Market Share by Company (2019-2024)
3.2 Global Engineering Plastic Annual Revenue by Company (2019-2024)
3.2.1 Global Engineering Plastic Revenue by Company (2019-2024)
3.2.2 Global Engineering Plastic Revenue Market Share by Company (2019-2024)
3.3 Global Engineering Plastic Sale Price by Company
3.4 Key Manufacturers Engineering Plastic Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Engineering Plastic Product Location Distribution
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