LONDON, March 27, 2019
LONDON, March 27, 2019 /PRNewswire/ -- Global Engineering Plastics Market by Type (Acrylonitrile Butadiene Styrene (ABS), Polyamide, Polycarbonates, Polyesters, Polyacetals, Fluoropolymers), by End User (Automotive and Transportation, Electrical & Electronics, Consumer Appliances, Industrial & Machinery, Packaging), Global Opportunity Analysis and Industry Forecast
• Engineering plastics are the materials with better mechanical and thermal properties compared to the widely used commodity plastics.
• These plastics are generally used for smaller objects or products with low volume, hence are produced in smaller quantities.
• Engineering plastics are high performance plastics and can effectively replace metals or ceramics due to its unique properties.
Market Overview and Trends
• Engineering plastics are widely adopted across various industries and have gradually replaced the traditional engineering material such as metal or wood in many applications.
• This adoption highly depends on the advantages offered such as good mechanical characteristics, excellent machinability and dimensional stability, good chemical resistance, and good wear resistance.
• As this is a technology intensive industry, engineering plastics industry integrates various advanced technologies such as alloy modification technology, engineering design amplification technology, polymerization technology, and processing and application technology.
• Implementation of such advanced technologies provides an edge in the research and development and the manufacturing process.
• Its unique properties have enhanced its application horizon across various industries such as aerospace, automobile, healthcare and many more.
• Recent studies conducted to exploring more properties and modification capabilities of engineering plastics open new avenues in the industry.
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Factors Influencing the Market Growth:
• Increasing demand of engineering plastics in the field of aerospace and automobiles is largely contributing to the growth of this market.
• Companies are largely focusing on reducing the vehicle weight and increasing the fuel efficiency of the vehicles based on utilization of engineering plastics.
• Advantages offered by engineering plastics over traditional material and increasing adoption of these products on emerging countries are also propelling the growth of engineering plastics market during the forecast period.
Factors Restraining the Market Growth:
• Complex manufacturing process
• Regulatory barriers
• Presence of competitive alternatives
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Market Segmentation 2019-2029:
The engineering plastics market is segmented on the type, end user and geography.
• Acrylonitrile Butadiene Styrene (ABS) Market, 2019-2029
• Polyamide Market, 2019-2029
• Polycarbonates Market, 2019-2029
• Polyesters Market, 2019-2029
• Polyacetals Market, 2019-2029
• Fluoropolymers Market, 2019-2029
• Others Market, 2019-2029
• Automotive and Transportation Market, 2019-2029
• Electrical & Electronics Market, 2019-2029
• Consumer Appliances Market, 2019-2029
• Industrial & Machinery Market, 2019-2029
• Packaging Market, 2019-2029
• Others Market, 2019-2029
Focused regional forecasts and analysis explore the future opportunities:
• North America Market, 2019-2029
• Europe Market, 2019-2029
• Asia-Pacific Market, 2019-2029
• LAMEA Market, 2019-2029
• There are large number of players operating in the engineering plastics industry.
• These companies are largely focusing on improving their manufacturing capabilities to develop and launch unique quality products.
• Players also adopt growth strategies such as product launches, partnership and collaborations and geographic expansion to enhance their market presence.
• In January 2016, DSM expanded its horizon across Europe, Middle East and African (EMEA) region by strengthening its distribution partnership with RESINEX and making its engineering plastics portfolio available in this region.
• In February 2017, Asahi Kasei Corp. launched an Engineering Plastics Technical Center in Europe.
Major Market Players:
BASF, Covestro, Solvay SA, Celanese, DowDuPont, LG Chem, SABIC, Evonik Industries, Lanxess, and Mitsubishi Engineering Plastics.
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Companies covered in the report include:
Asahi Kasei Corporation
Dotmar Engineering Plastics
Eastman Chemical Company,
LEP Engineering Plastics
Mitsubishi Engineering Plastics
Nova Chemicals Corporation
Röchling Engineered Plastics Limited
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