Engineering Plastic Market Trends and Forecast
The future of the global engineering plastic market looks promising with opportunities in the automotive & transportation, consumer appliance, electrical & electronic, industrial & machinery, and packaging markets. The global engineering plastic market is expected to reach an estimated $184.0 billion by 2030 with a CAGR of 6.5% from 2024 to 2030. The major drivers for this market are increasing demand in automotive lightweighting, rising adoption in electrical & electronics industries, and growth in construction & infrastructure projects.
• Lucintel forecasts that acrylonitrile butadiene styrene is expected to witness the highest growth over the forecast period.
• Within this market, industrial & machinery is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Engineering Plastic Market
• United States: DuPont announced plans to invest in R&D for sustainable engineered plastics, aligning with government targets for reducing plastic waste and promoting eco-friendly materials in manufacturing.
• China: Sinopec launched a new production facility for high-performance engineered plastics, supporting the countryÄX%$%Xs goal of enhancing domestic manufacturing capabilities and reducing dependency on imports.
• Germany: BASF introduced innovative engineered plastics with enhanced durability for automotive applications, targeting ambitious government targets for reducing emissions through lightweight vehicle components.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Engineering Plastic Market by Segment
The study includes a forecast for the global engineering plastic market by type, application, and region.
Engineering Plastic Market by Type [Value from 2018 to 2030]:
• Acrylonitrile Butadiene Styrene
• Polyamide
• Polycarbonate
• Thermoplastic Polyester
• Polyacetal
• Fluoropolymer
• Others
Engineering Plastic Market by Application [Value from 2018 to 2030]:
• Automotive & Transportation
• Consumer Appliances
• Electrical & Electronics
• Industrial & Machinery
• Packaging
• Others
Engineering Plastic Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Engineering Plastic Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies engineering plastic companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the engineering plastic companies profiled in this report include-
• BASF
• Covestro
• Solvay
• Celanese Corporation
• The Dow Chemical Company
• LG Chem
• SABIC
Recent Development in the Engineering Plastic Market
• BASF SE: Introduced a new line of bio-based engineered plastics, leveraging sustainable raw materials to reduce environmental impact and meet increasing demand for eco-friendly solutions in various industries.
• SABIC: Collaborated with automotive manufacturers to develop lightweight engineered plastics for electric vehicles (EVs), aiming to enhance energy efficiency and range while meeting stringent safety standards.
• Covestro AG: Launched innovative flame-retardant engineered plastics for electronics applications, addressing the growing demand for materials that ensure safety and reliability in electronic devices and appliances.
• Dow Inc.: Announced advancements in recyclable engineered plastics, focusing on circular economy initiatives and supporting efforts to reduce plastic waste through improved recyclability and sustainability.
• Evonik Industries AG: Invested in research and development for high-performance engineered plastics with enhanced chemical resistance, targeting applications in the healthcare, aerospace, and industrial sectors.
Features of the Global Engineering Plastic Market
Market Size Estimates: Engineering plastic market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Engineering plastic market size by type, application, and region in terms of value ($B).
Regional Analysis: Engineering plastic market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the engineering plastic market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the engineering plastic market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the engineering plastic market size?
Answer: The global engineering plastic market is expected to reach an estimated $184.0 billion by 2030.
Q2. What is the growth forecast for engineering plastic market?
Answer: The global engineering plastic market is expected to grow with a CAGR of 6.5% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the engineering plastic market?
Answer: The major drivers for this market are increasing demand in automotive lightweighting, rising adoption in electrical & electronics industries, and growth in construction & infrastructure projects.
Q4. What are the major segments for engineering plastic market?
Answer: The future of the engineering plastic market looks promising with opportunities in the automotive & transportation, consumer appliance, electrical & electronic, industrial & machinery, and packaging markets.
Q5. Who are the key engineering plastic market companies?
Answer: Some of the key engineering plastic companies are as follows:
• BASF
• Covestro
• Solvay
• Celanese Corporation
• The Dow Chemical Company
• LG Chem
• SABIC
Q6. Which engineering plastic market segment will be the largest in future?
Answer: Lucintel forecasts that acrylonitrile butadiene styrene is expected to witness the highest growth over the forecast period.
Q7. In engineering plastic market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the engineering plastic market by type (acrylonitrile butadiene styrene, polyamide, polycarbonate, thermoplastic polyester, polyacetal, fluoropolymer, and others), application (automotive & transportation, consumer appliances, electrical & electronics, industrial & machinery, packaging, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Engineering Plastic Market, Engineering Plastic Market Size, Engineering Plastic Market Growth, Engineering Plastic Market Analysis, Engineering Plastic Market Report, Engineering Plastic Market Share, Engineering Plastic Market Trends, Engineering Plastic Market Forecast, Engineering Plastic Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.