About Engineering Resins
Engineering resin is a group of plastic material which combines great strength of lightweight over a wide range of condition. It has enhanced properties such as rigidity, strength, impact and heat resistance and others. Depending upon the structure, chemistry, chain length and bond between the lengths the thermoplastic properties change. The different types of resins are used in various industries which include construction industry, automobile industry, packaging and others.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Engineering Resins is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Engineering Resins 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.
BASF (Germany), Covestro (Germany), Solvay SA (Belgium), Celanese (United States), DowDuPont (United States), LG Chem (South Korea), SABIC (Saudi Arabia), Evonik Industries (Germany), Lanxess (Germany), Mitsubishi Engineering Plastics (Japan) and Koninklijke DSM N.V. (Netherland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Arbor Plastic Technologies, LLC, Autronic Plastics, Inc., Royal DSM, Microspec Corporation, RTP Company, Eastman, JSR, Asahi Kasei, Formosa Plastics, Sinopec Group, Toray International, Kolon and Ashley Polymers.
Segmentation Overview
AMA Research has segmented the market of Global Engineering Resins market by Type (Polyethylene (LDPE,MDPE,HDPE,LLDPE,UHMWPE), Polyvinyl Chloride (PVC), Polybutylene Terephthalate (PBT), Acrylonitrile Butadiene Styrene (ABS), Nylon (Nylon 6,Nylon 6.6) and Polyethylene Terephthalate (PET)), Application (Insulators, Bumpers, Inhalers, Chemical tanks and Others) and Region.
On the basis of geography, the market of Engineering Resins 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-use Industry, the sub-segment i.e. Electrical & Electronics will boost the Engineering Resins market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High-Performance Polymers And Elastomers For Automobile Industry
Market Growth Drivers:
Increasing Demand Of Engineering Resins Due To Exceptional Mechanical Strength With Thermal And Chemical Resistance and Increasing Usage In Various Industries Like Automotive, Electrical Industry, Construction, Medical And Others
Challenges:
Environmental Pollution Concern For Engineering Resins and Continuous Change In Oil Price
Restraints:
Competition From Other Engineering Plastic
Opportunities:
Replacements Of Metal Component With Engineering Resin and Growth of Small and Medium Enterprises in Emerging Economies
Market Leaders and their expansionary development strategies
In February 2019,One Rock Capital Partners, LLC entered an agreement to acquire Nexeo Solutions. Nexeo Plastic a global leader in the distribution of plastics product and prime engineering resins.
In August 2023, Polyplastics Group, a leading global supplier of engineering thermoplastics, launched the DURACIRCLE (TM) initiative for recycling engineering plastics. This effort applies to a wide variety of sustainable solutions that contribute toward achieving a 100% recycling rate for engineering plastics, without being confined to the existing business model of manufacturing and selling plastics. Polyplastics' goal is to achieve carbon.
Key Target Audience
Manufacturers Of Resin, Traders, Distributors, And Suppliers Of Resin, Suppliers Of Raw Materials, Research Organizations, Government & Industry Associations, Regulatory Bodies and Investment Research Firms Of High-Performance Polymers
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.