china-engineering-plastics-market-industry
Published

MAY 2018

China Engineering Plastics Market - Segmented by Product, and Application - Growth, Trends, and Forecast (2018 - 2023)

Purchase Report
$3250
Single user license
$3500
Team license
$7850
Corporate license

The market for engineering plastics in China has been estimated to be at USD 29,720.93 million in 2017. The market is expected to portray a healthy growth rate during the forecast period, at a CAGR of 6.18%. 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.       

Growing Popularity of Bio-based PET Driving the Market

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, the flexibility to recycle and significant reduction in the weight due to bio-based technology, this product category turns to be one of the most favored product in multiple end-user industry, such as automotive, electrical & electronics, and food & beverages packaging industry among others.   

Polyethylene Terephthalate (PET) the Dominant Product Type

Polyethylene terephthalate (PET) is a thermoplastic polyester engineering resin. PET resins are known for their excellent melt flow characteristics, close molding tolerances and high productivity from multicavity molds. Because its mechanical and electrical properties are so broad, PET is often used to replace metals in motor housings, switches, sensors, and other electrical applications. Demand for PET is majorly driven from automotive and packaging industry. For instance, Coca-Cola developed the concept of recyclable plant bottles, which are made of PET plastics, partially manufactured from plants. Thus, this helped the company to focus on using bio-based PET for packaging its beverages, and at the same time, promote environmental awareness among its consumers.

                             

Notable Developments in the Market

  • December 2017: BASF SE expanded its research scope at Network for Asian Open Research (NAO) to cover advanced materials & systems research, bioscience research, and process research & chemical engineering by partnering 10 major Asian universities and research partners from China, Japan, and South Korea

Major Players: BASF SE, DowDuPont, DSM, and Solvay, among others.

Reasons to Purchase this Report

  • To understand the impact of end-user applications on the market
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • To understand the dominating product type in the market
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Report

  • This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
Purchase Report
$3250
Single user license
$3500
Team license
$7850
Corporate license
Our Clients Include View All

Looking to Customize Report?