APR 2018
The market for engineering plastics in Brazil has been estimated to be at USD 1,289.15 million in 2017. The market is expected to portray a healthy growth rate recording a CAGR of 4.46% during the forecast period. Engineering plastics, a segment of the plastic industry, are used in applications that require high performance with respect to thermal stability, chemical stability, impact resistance, mechanical strength, and dimensional stability. The specific categorization of these materials is due to their utility in various applications that require higher performance than commodity materials and require engineering to design customized products. Engineering plastics are gradually replacing metal from construction and automotive industries due to their durability, designing flexibility, high strength-to-weight ratios, and low densities.
Considering the side effects of petrochemical based plastics, the popularity of bio-based product is rising globally. Since PET is favorably used in food & beverages packaging industry; this bio-based product trend is creating a direct impact on the PET demand. Additionally, owing the flexibility to recycle and weight-reduction properties achieved due to bio-based technology, this product category turns to be one of the most favored in multiple end-user industry, such as automotive, electrical & electronics, and food & beverages packaging industry, among others.
Polyamides, including PA 6 (nylon 6), PA 66 (nylon 6, 6), Bio-Polyamides, and specialty Polyamides, have high mechanical strength, superior stiffness, excellent thermal stability and resistance to chemicals. Owing to their problem-free processing benefits and favorable sliding friction behavioral traits, the polyamide materials have found usage in various industrial and commercial sectors. Polyamides market, during the forecast period, is likely to be driven mainly by the increased emphasis on producing environment-friendly, fuel efficient, lighter vehicles and resultant increased use of polyamides in the recovering Brazil automotive industry for creating the above-mentioned automobiles. The market will also benefit hugely from the growing popularity and usage of bio-based and specialty polyamides.
Major Players: BASF SE, DowDuPont, DSM and Solvay, among others.
