Engineering Plastics Market Scope
Engineering plastics, a group of plastic materials that have better thermal and mechanical properties. Of late, the consumption of engineering plastics has increased drastically due to various reasons including increasing urbanization, and the growth in the demand from the packaging and automotive sector globally. Moreover, the growth in the production of automotive in both developing and developed nations, the market for engineering plastics have benefitted to a great extent in the upcoming years.
According to AMA, the Global Engineering Plastics market is expected to see growth rate of 6.9% Research Analyst at AMA estimates that German Vendors will contribute to the maximum growth of Global Engineering Plastics market throughout the predicted period.
BASF SE (Germany), Covestro AG (Germany), Celanese Corporation (United States), DuPont (United States), Solvay S.A (Belgium), LG Chem Ltd (South Korea), Sabic (Saudi Arabia), Evonik Industries AG (Germany), Lanxess AG (Germany) and Mitsubishi Chemical Engineering Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are DSM (Netherland), Eastman Chemical Company (United States) and Arkema S.A (France).
Segmentation Overview
The study have segmented the market of Global Engineering Plastics market by Type (Acrylonitrile Butadiene Styrene (ABS), Fluoropolymer, Polyamide (PA), Polycarbonate (PC), Polyoxymethylene (POM), Thermoplastic polyester (PET/PBT) and Others) and Region with country level break-up.
On the basis of geography, the market of Engineering Plastics 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).
Influencing Trend:
Growing Popularity of Bio-based PET
Market Growth Drivers:
Surging Demand in Beverage Packaging and Automotive Sector Globally and The Growth in the Replacement of Traditional Materials by Engineering Plastics
Challenges:
Stringent Government Regulations Regarding CO2 Emissions
Restraints:
Highly Expensive and Limited Production Rate of Engineering Plastics
Opportunities:
Increasing Purchasing Power among Consumers in Emerging Nations, The Emergence of BioPlastics as an Alternative and Stringent Environmental Regulations Promoting the USe of Eco-Friendly Products
In the United States and around the globe, chemicals management and product regulations impact businesses in the plastics industry as it strives to meet the needs of consumers by manufacturing the safest, strongest and most technologically advanced products and materials in the world. The Plastics Industry Association (PLASTICS) encourages every manufacturer, no matter what their product, to maintain the highest possible standards of product stewardship.
Key Target Audience
Engineering Plastics Manufacturers, Raw Material Suppliers, Government & Industry Associations, Regulatory Bodies, End-User Industries and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.