Global Engineering Plastic Compounds Market Overview:
Engineering plastic compound refers to plastic compounds which have better thermal and mechanical properties over the commodity plastics. Generally, engineering plastics are more expensive due to their low production as compared to commodity plastic. In many applications, engineering plastic compounds have increasingly replaced conventional engineering materials such as wood or metal. Engineering plastics are much simpler to produce, particularly in complicated shapes, and they match or exceed them in strength and other properties. Due to their wide industrial applications, the demand for engineering plastic compounds is increasing.
Growth Drivers
- Need of Engineering Plastic Compounds in Various Automotive Applications
- The demand of Engineering Plastic Compounds as An Alternative to Conventional Engineering Materials Like Wood or Metal
- The demand for Engineering Plastic Compounds as They Have Better Weight/Strength Ratio
Market Trends
- The trend of Replacement of Metals by Engineering Plastic Compounds in The Drinking Water and Food Sectors
Roadblocks
- Engineering Plastic Compounds Are Not Environmentally Friendly
Opportunities
- Growing Market of Engineering Plastic Compounds Due to Efficient Manufacturing and Processing Techniques
- Rise of Manufacturing Sector in Developing Economies Will Boost the Demand of Engineering Plastic Compounds
Challenges
- Engineering Plastic Compounds Have Tendency to Fracture at High-Stress Levels
- Stringent Regulations on Plastic Production
Competitive Landscape:
Some of the key players profiled in the report are BASF SE (Germany), Covestro (Germany), Solvay SA (Belgium), Celanese (United States), Asahi Kasei Corp. (Japan), DowDuPont (United States), LG Chem (South Korea), Celanese (United States), Akro-Plastics (Germany) and Daicel Polymer Ltd. (Japan). Considering Market by Industry Verticals, the sub-segment i.e. Automotive & Transportation will boost the Engineering Plastic Compounds market. Considering Market by Sales Channel, the sub-segment i.e. Direct will boost the Engineering Plastic Compounds market.
Latest Market Insights:
On Jan 31st, 2020, BASF completed the acquisition of Solvay’s polyamide business. According to BASF, this transaction broadens BASF’s polyamide capabilities with innovative and well-known products. This will allow BASF to provide even better engineering plastics solutions to its customers, such as for autonomous vehicles and e-mobility. The deal also gives the group more access to emerging markets in Asia, as well as North and South America.
On Feb 1st, 2017, Asahi Kasei Corp. announced to launch an Engineering Plastics Technical Center in Europe as part of a strategic focus to expand its European automotive-related business. The new center will be located within the premises of Asahi Kasei Corp.’s premises in Germany. According to the company, the new Technical Center will enable Asahi Kasei Europe GmbH to swiftly develop engineering plastic compounds and provide technical solutions that meet the needs of European customers in the automotive industry.
What Can be Explored with the Engineering Plastic Compounds Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Engineering Plastic Compounds Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Engineering Plastic Compounds
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Engineering Plastic Compounds market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Engineering Plastic Compounds market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Engineering Plastic Compounds Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations, End-Use Industries and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.