Global Engineering Plastics Market Forecasts to 2030
Overview of Global Engineering Plastics market:
According to Stratistics MRC, the Global Engineering Plastics Market is accounted for $124.0 billion in 2024 and is expected to reach $192.6 billion by 2030 growing at a CAGR of 7.6% during the forecast period. Engineering plastics are a group of plastic materials that possess superior mechanical and thermal properties compared to commodity plastics. These materials are designed for use in demanding applications that require high performance in terms of strength, heat resistance, and chemical stability. Engineering plastics are commonly used in the automotive, aerospace, electrical and electronics, industrial, and medical industries, where their enhanced properties are essential for safety, durability, and efficiency.
This report analyzes the Engineering Plastics market from 2022 to 2030. It uses a combination of detailed sales and revenue data with insights from industry experts. The report goes beyond just market size and growth rate. It also dives into different market segments, such as region, type, processing, distribution channel etc. This provides a comprehensive picture of how the market breaks down across various categories.
As COVID-19 has reshaped the world economy, our team has been keeping a careful eye on its effects on the market. Beyond the pandemic, we take into account other important variables such as the general state of the economy, local conflicts, and news and regulations unique to the industry. This guarantees a comprehensive perspective on the market.
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Market Dynamics:
Driver:
Increasing demand for electrical and electronic appliances
The market is witnessing a surge in demand attributed to the growing reliance on electrical and electronic appliances. This trend is fueled by advancements in technology and the increasing integration of electronic components in various industries. From consumer electronics to automotive applications, the need for durable and heat-resistant materials is driving the adoption of engineering plastics. Manufacturers are responding by innovating to meet the stringent requirements of these sectors, indicating a promising trajectory for the market.
Restraint:
Concerns regarding recyclability and environmental impact
In the realm of engineering plastics, there's a pressing challenge centered on recyclability and environmental impact. As consumer awareness of sustainability grows, there's an increasing demand for plastics that can be easily recycled or have minimal environmental consequences throughout their lifecycle. Manufacturers are under pressure to innovate and develop materials that meet these criteria without sacrificing performance or cost-effectiveness. This necessitates a shift towards biodegradable or easily recyclable engineering plastics, driving innovation within the market.
Opportunity:
Rapid industrialization and urbanization
Rapid industrialization and urbanization are propelling the Engineering Plastics Market forward. With expanding sectors like automotive, electronics, and construction, the demand for high-performance materials is surging. Engineering plastics, offering superior mechanical properties, heat resistance, and durability, are becoming indispensable in various applications. Their versatility in replacing traditional materials like metal and glass is driving market growth.
Threat:
Fluctuating raw material prices
The market faces ongoing challenges due to fluctuating raw material prices. These variations can stem from factors like supply chain disruptions, geopolitical tensions, or shifts in demand. Such instability often leads to price volatility, impacting production costs and profit margins for manufacturers. To navigate these fluctuations effectively, industry players must employ robust risk management strategies and maintain flexibility in sourcing options. Adapting to these market dynamics is crucial for sustaining competitiveness in the sector.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the Engineering Plastics Market. Disruptions in supply chains, reduced manufacturing activities, and fluctuating demand led to challenges. However, the market also saw opportunities with the rising demand for medical equipment, protective gear, and packaging materials. Additionally, there was a shift towards sustainability, driving demand for eco-friendly engineering plastics.
The blow molding segment is expected to be the largest during the forecast period
The blow molding is expected to be the largest during the forecast period driven by advancements in material formulations and manufacturing technologies. This market segment caters to diverse industries such as automotive, packaging, and consumer goods. Key factors fueling expansion include the demand for lightweight, durable components, and the rising emphasis on sustainability. Additionally, innovations in design and process optimization are enhancing product quality and cost-effectiveness, further propelling the market's trajectory.
The healthcare segment is expected to have the highest CAGR during the forecast period
The healthcare segment is expected to have the highest CAGR during the forecast period. These materials find extensive use in medical devices, diagnostic equipment, surgical instruments, and drug delivery systems. Engineering plastics such as polycarbonate, polyethylene, and polypropylene are preferred for their durability and versatility in healthcare settings. With an increasing emphasis on patient safety and technological advancements, the healthcare engineering plastics market continues to witness robust growth and innovation.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. With a focus on enhancing performance, durability, and lightweight characteristics, demand is particularly strong in automotive, electronics, and construction sectors. The region benefits from technological advancements and a strong manufacturing base, fostering innovation and market expansion. Additionally, stringent regulations promoting sustainability further propel the adoption of engineering plastics.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. With the automotive industry booming in countries like China and India, there's a growing demand for lightweight and durable materials, which has led to the adoption of engineering plastics in automotive manufacturing for components such as bumpers, interior trim, and under-the-hood applications. With increasing environmental concerns, there's a shift towards the use of engineering plastics over traditional materials like metals, as they are often recyclable and offer opportunities for lightweighting, energy savings, and reduced emissions.
Key Developments:
In March 2023, Evonik launched a new GMP facility to manufacture lipids for advanced, pharmaceutical drug delivery applications. The lipid launch facility is located at the company’s site in Hanau, Germany and provides customers with quantities of lipids as needed for clinical and small-scale commercial manufacturing.
In June 2022, BASF launched VerdessenceTM RiceTouch, a new biopolymer for a smooth and powdery light skin feel, suitable for a broad range of personal care products. This plant based sensory powder with small particle size provides powdery light and smooth skin feel and is ideal for matte type cosmetics.
Leading Industry Players in the Engineering Plastics market worldwide:
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Global Engineering Plastics Market Segmentation
The Engineering Plastics market segmentation encompasses various dimensions, including type, processing, distribution channel, end user, region, and competitors. By type, the market is divided into several categories, each catering to specific performance and application requirements. The market is segmented by processing, ensuring high-quality production tailored to various industry needs. In terms of distribution channel, it is facilitating efficient access to diverse customer segments. The market segmentation by end user it is leveraging their durability and lightweight properties for innovation. Geographically, the market is segmented into major regions such as North America, Europe, Asia Pacific, South America, the Middle East and Africa, each exhibiting different market dynamics and growth opportunities. Competitor analysis reveals the competitive landscape, with major players developing new products, strategic partnerships, mergers and acquisitions, and competing for market share. Additional segmentation factors provide a comprehensive understanding of the Engineering Plastics market's structure and potential.
Geographic Regions Covered:
North America: United States, Canada, and Mexico.
Europe: Germany, United Kingdom, Italy, France, Spain, and Rest of Europe.
Asia Pacific: Japan, China, India, Australia, New Zealand, South Korea, and Rest of the Asia Pacific region.
South America: Argentina, Brazil, Chile, and the rest of South America.
Middle East & Africa: Saudi Arabia, United Arab Emirates, Qatar, South Africa, and Rest of the Middle East & Africa.
Key Questions Answered in This Report:
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Table of Contents (TOC) for the Global Engineering Plastics Market Research Report (2024-2030)
1 Executive Summary ? ??? ? ??
2 Preface ? ???
2.1 Abstract ? ??
2.2 Stake Holders ? ??
2.3 Research Scope ? ??
2.4 Research Methodology ? ??
2.4.1 Data Mining ???
2.4.2 Data Analysis ???
2.4.3 Data Validation ???
2.4.4 Research Approach ???
2.5 Research Sources ? ??
2.5.1 Primary Research Sources ???
2.5.2 Secondary Research Sources ???
2.5.3 Assumptions ??? ? ??
3 Market Trend Analysis?????
?3.1 Introduction?????
?3.2 Drivers??????
?3.3 Restraints?????
?3.4 Opportunities?????
?3.5 Threats??????
?3.6 End User Analysis?????
?3.7 Emerging Markets?????
?3.8 Impact of Covid-19?????
4 Porters Five Force Analysis?????
?4.1 Bargaining power of suppliers????
?4.2 Bargaining power of buyers????
?4.3 Threat of substitutes????
?4.4 Threat of new entrants????
?4.5 Competitive rivalry?????
领英推荐
5 Global Engineering Plastics Market, By Type???
?5.1 Introduction?????
?5.2 Polybutylene Terephthalate (PBT)???
?5.3 Polymethyl Methacrylate (PMMA)???
?5.4 Polyethylene Terephthalate (PET)???
?5.5 Polyamide (PA)?????
?5.6 Polycarbonate (PC)?????
?5.7 Polyacetal (POM)?????
?5.8 Polyphenylene Ether (PPE)????
?5.9 Polyether Ether Ketone (PEEK)???
?5.10 Liquid Crystal Polymers (LCP)????
?5.11 Other Types?????
6 Global Engineering Plastics Market, By Processing???
?6.1 Introduction?????
?6.2 Injection Molding?????
?6.3 Blow Molding??? ??
?6.4 Extrusion??????
?6.5 Rotational Molding?????
?6.6 Thermoforming?????
?6.7 Compression Molding????
7 Global Engineering Plastics Market, By Distribution Channel??
?7.1 Introduction?????
?7.2 Direct Sales?????
?7.3 Direct Sales?????
?7.4 Retailers??????
?7.5 Online Platforms?????
8 Global Engineering Plastics Market, By End User???
?8.1 Introduction?????
?8.2 Automotive?????
?8.3 Aerospace?????
?8.4 Electronics & Electrical????
?8.5 Healthcare?????
?8.6 Construction?????
?8.7 Other End Users
Continued…
List of Tables ? ? ?
1 Global Engineering Plastics Market Outlook, By Region (2022-2030) ($MN)
2 Global Engineering Plastics Market Outlook, By Type (2022-2030) ($MN)?
3 Global Engineering Plastics Market Outlook, By Polybutylene Terephthalate (PBT) (2022-2030) ($MN)
4 Global Engineering Plastics Market Outlook, By Polymethyl Methacrylate (PMMA) (2022-2030) ($MN)
5 Global Engineering Plastics Market Outlook, By Polyethylene Terephthalate (PET) (2022-2030) ($MN)
6 Global Engineering Plastics Market Outlook, By Polyamide (PA) (2022-2030) ($MN)
7 Global Engineering Plastics Market Outlook, By Polycarbonate (PC) (2022-2030) ($MN)
8 Global Engineering Plastics Market Outlook, By Polyacetal (POM) (2022-2030) ($MN)
9 Global Engineering Plastics Market Outlook, By Polyphenylene Ether (PPE) (2022-2030) ($MN)
10 Global Engineering Plastics Market Outlook, By Polyether Ether Ketone (PEEK) (2022-2030) ($MN)
11 Global Engineering Plastics Market Outlook, By Liquid Crystal Polymers (LCP) (2022-2030) ($MN)
12 Global Engineering Plastics Market Outlook, By Other Types (2022-2030) ($MN)
13 Global Engineering Plastics Market Outlook, By Processing (2022-2030) ($MN)
14 Global Engineering Plastics Market Outlook, By Injection Molding (2022-2030) ($MN)
15 Global Engineering Plastics Market Outlook, By Blow Molding (2022-2030) ($MN)
16 Global Engineering Plastics Market Outlook, By Extrusion (2022-2030) ($MN)
17 Global Engineering Plastics Market Outlook, By Rotational Molding (2022-2030) ($MN)
18 Global Engineering Plastics Market Outlook, By Thermoforming (2022-2030) ($MN)
19 Global Engineering Plastics Market Outlook, By Compression Molding (2022-2030) ($MN)
20 Global Engineering Plastics Market Outlook, By Distribution Channel (2022-2030) ($MN)
21 Global Engineering Plastics Market Outlook, By Direct Sales (2022-2030) ($MN)
22 Global Engineering Plastics Market Outlook, By Direct Sales (2022-2030) ($MN)
23 Global Engineering Plastics Market Outlook, By Retailers (2022-2030) ($MN)
24 Global Engineering Plastics Market Outlook, By Online Platforms (2022-2030) ($MN)
25 Global Engineering Plastics Market Outlook, By End User (2022-2030) ($MN)
26 Global Engineering Plastics Market Outlook, By Automotive (2022-2030) ($MN)
27 Global Engineering Plastics Market Outlook, By Aerospace (2022-2030) ($MN)
28 Global Engineering Plastics Market Outlook, By Electronics & Electrical (2022-2030) ($MN)
29 Global Engineering Plastics Market Outlook, By Healthcare (2022-2030) ($MN)
30 Global Engineering Plastics Market Outlook, By Construction (2022-2030) ($MN)
31 Global Engineering Plastics Market Outlook, By Other End Users (2022-2030) ($MN)
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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