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The global engineering plastics market reached a value of US$ 104.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 167.5 Billion by 2027, exhibiting at a CAGR of 7.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Engineering plastics are generally used to manufacture mechanical parts, containers and packaging substances. They are extensively utilized as a preferred alternative to metal and ceramics due to their lightweight property. Additionally, they provide excellent load capacity, mechanical strength, thermal stability and durability while offering designing flexibility. Some of the commonly used engineering plastics variants include polyamides (PA), polycarbonates (PC), nylon 6, acrylonitrile butadiene styrene (ABS) and polysulphone (PSU). They are widely utilized in the manufacturing of car bumpers, dashboard trims, ski boots, helmets and optical discs across multiple sectors.
The global market is primarily driven by the rising preference for lightweight automobiles among the masses. Along with this, the widespread adoption of engineering plastic in the production of several vehicle components is providing an impetus to the market growth across the globe. Moreover, increasing investments by private and public agencies in infrastructural development projects have led to the rising utilization of polyvinyl chloride (PVC) pipes for water supply systems, which is providing a boost to the uptake of engineering plastics. These plastics are also extensively used across the healthcare industry for packaging medical equipment and manufacturing medical implants, which is catalyzing the market growth across the globe. Furthermore, the rising usage of engineering plastics for manufacturing consumer electronics is acting as another major growth-inducing factor on the global level. Some of the other factors contributing to the market growth include continual product innovations and extensive research and development (R&D) activities conducted by key players.
IMARC Group provides an analysis of the key trends in each sub-segment of the global engineering plastics market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, performance parameter and application.
Breakup by Type:
Breakup by Performance Parameter:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, AdvanSix, Arkema S.A., Avient Corporation, BASF SE, Celanese Corporation, Daicel Corporation, DuPont de Nemours Inc., Eastman Chemical Company, Ineos Limited, LANXESS Aktiengesellschaft and Solvay S.A.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Performance Parameter, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||3M Company, AdvanSix, Arkema S.A., Avient Corporation, BASF SE, Celanese Corporation, Daicel Corporation, DuPont de Nemours Inc., Eastman Chemical Company, Ineos Limited, LANXESS Aktiengesellschaft and Solvay S.A.|
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The global engineering plastics market was valued at US$ 104.4 Billion in 2021.
We expect the global engineering plastics market to exhibit a CAGR of 7.50% during 2022-2027.
The rising adoption of engineering plastic as an alternative to metal and ceramics due to its lightweight
property in manufacturing mechanical parts, containers, and packaging substances, is primarily
catalyzing the global engineering plastics market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in temporary closure of numerous end-use industries,
thereby negatively impacting the overall demand for engineering plastics.
Based on the type, the global engineering plastics market has been segmented into polyamide, ABS,
thermoplastic polyesters, polycarbonates, polyacetals, fluoropolymers, and others. Currently,
polyacetals exhibit a clear dominance in the market.
Based on the application, the global engineering plastics market can be categorized into packaging,
building and construction, electrical and electronics, automotive, consumer products, and others.
Among these, the electrical and electronics sector currently accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global engineering plastics market include 3M Company, AdvanSix,
Arkema S.A., Avient Corporation, BASF SE, Celanese Corporation, Daicel Corporation, DuPont de
Nemours Inc., Eastman Chemical Company, Ineos Limited, LANXESS Aktiengesellschaft, and Solvay S.A.
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