Accounting for an estimated share of over 42% in 2015, China has the largest market for engineering plastics in the entire region of Asia-Pacific, with the prospect of posting the fastest CAGR of about 12% between 2015 and 2020. By product means, demand for styrene copolymers (ABS & SAN) is the largest; it is also the fastest growing in the same prospect. Interestingly, while consumer goods & appliances make up for the largest share of engineering plastics consumption in China, demand growth for the same is likely to be fastest for automotive & transportation and building & construction applications.
The augmented demand for light-weight, flexible and durable materials has enabled the penetration of engineering plastics into sectors that were earlier, left unexplored or assumed to be impractical. These include the automotive & transportation, building & construction, consumer goods & appliances, electrical & electronics, industrial machinery and packaging, among others. In these industries, engineering plastics are being increasingly utilized as substitutes for conventional materials, such as metal and wood.
In terms of product, demand for styrene copolymers (ABS & SAN) is the largest while, on the application front, consumer goods & appliances have the highest number of end-users. Asia-Pacific constitutes the largest, as well as, the fastest growing global market for engineering plastics. However, the developed markets of North America and Europe are likely to exhibit slower growth over the analysis period. Automotive & transportation and building construction are two of the more promising application areas for engineering plastics. The market is segmented by product types (Fluoropolymers, Polyacetal/Polyoxymethylene, Polyamides, Polycarbonates, Polymethyl Methacrylate (PMMA), Polyphenylene Oxide (PPO/PPE Blends), Polyphenylene Sulfide (PPS), Styrene Copolymers (ABS & SAN), Thermoplastic Polyesters (PET & PBT) and Other engineering plastics), by their application (Automotive & Transportation, building & construction, consumer goods & appliances, electrical & electronics, industrial & machinery and packaging) and by their geography (North America, Asia-Pacific, Europe, Middle East & Africa and South America). The prime players in this market are BASF SE, Bayer Material Science, Poly Plastic Co. Ltd, Mitsubishi Engineering Plastic Corporation.
Engineering plastics are replacing the traditional materials as there is demand for lighter, more flexible and innovative products. These act as the potential drivers for this market.
The prices of the raw materials used in this industry are pretty exorbitant. Also, there are strict environmental norms curbing the use of plastics. Both of these do curb the growth of this market.
What the report offers?
1) Market Definition for the specified topic along with identification of key drivers and restraints for the market
2) Market analysis of the China Engineering plastics Market with region specific assessments and competition analysis on a global and regional scale
3) Identification of factors instrumental in changing the market scenarios, exploring prospective opportunities and identifying the key companies, those, which can influence the market on both the global and regional scales
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares
5) Identification and analysis of the macro and micro factors that affect the China Engineering plastics Market on both the global and regional scales.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.