About Engineering Thermoplastics
Engineering thermoplastics are majorly used in the manufacturing process. These are used for durable assemblies which required to withstand demanding environment including industrial usage or weather cycles. These are low cost, strong, sturdy, and lightweight. It can easily be molded into any shapes and forms. These plastics are offered more design flexibility as compared to creating complex shapes. This offers unique performance across a wide temperature range. These plastics are used in various applications with exposure to weather and UV. Basically, they are having the simplest molecular structure, with chemically independent macromolecules. As few thermoplastics are used industrially in the two forms one is thermoplastics and the other is thermoset. The thermoplastic consumption is much more around 80% more than the total plastic consumption.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.55% |
The global engineering thermoplastics market is highly competitive and having some of the leading players. In concern with the market share, some of the key players presently led the global market. These market players are utilizing strategic collaborative creativities to strengthening their market share and increase their profitability. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Engineering Thermoplastics market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
3M (United States), Arkema (France), Chevron Phillips Chemical Company (United States), SABIC (Saudi Arabia), Imerys (France), Ascend Performance Materials (United States), BASF (Germany), LyondellBasell (Netherlands), Greene, Tweed (United States) and DuPont (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are ExxonMobil (United States), Bayer (Germany) and Asahi Kasei (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Engineering Thermoplastics market by Type (Acrylonitrile, Butadiene, and Styrene (ABS), Acrylic, Polycarbonate, Nylon, Composites, Polyester, Urethane and Rigid PVC), Application (Wheel Covers, Engine Covers, Instrument Panels, Automotive Trim, Cooling Fans and Shrouds, Under The Hood Parts and Tooling and Appliance Parts) and Region.
On the basis of geography, the market of Engineering Thermoplastics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Automotive will boost the Engineering Thermoplastics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement in the Distribution Channel of the Leading Companies, Highest Demand of Polyester Type, and Followed By Polyamide and Rising Number of Research and Development Innovations across the Globe
Market Growth Drivers:
Growing Demand for High-Quality Mineral Additives in Various Industry, Growing Demand for the Replacement of Conventional Materials, Rising Concern towards Environmental Issues and Increasing Number of Small and Medium Size Organization across the Globe
Challenges:
Lack of Consumer Awareness and Less Market Share As Compared To Its Substitute Products
Restraints:
High Number of Substitutes and Lack of Manufacturing Technology
Opportunities:
Increasing Demand from Growing Market Such As Automotive, Packaging, and Others and Rising Manufacturers Concern towards Engineering Thermoplastics
Market Leaders and their expansionary development strategies
In Jan 2019, Celanese Corporation announced the acquisition of Next Polymer Ltd., as India’s leading engineering thermoplastic s compounders. The agreement provides Celanese rapid growing business and established it as a leader in the Indian ETP market.
In Oct 2019, SABIC announced the launch of its polycarbonate-based renewable feedstock as part of its TRUCIRCLE. This shows SABIC’s strategic initiatives to extend its offering for the production polycarbonate resin based on the incorporation of renewable feedstock, in the engineering thermoplastics (ETP) portfolio.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Engineering Thermoplastics Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.