Market Size of china engineering plastics Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 43.17 Billion |
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Market Size (2029) | USD 61.78 Billion |
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Largest Share by End User Industry | Electrical and Electronics |
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CAGR (2024 - 2029) | 7.43 % |
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Fastest Growing by End User Industry | Automotive |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
China Engineering Plastics Market Analysis
The China Engineering Plastics Market size is estimated at 43.17 billion USD in 2024, and is expected to reach 61.78 billion USD by 2029, growing at a CAGR of 7.43% during the forecast period (2024-2029).
43.17 Billion
Market Size in 2024 (USD)
61.78 Billion
Market Size in 2029 (USD)
4.79 %
CAGR (2017-2023)
7.43 %
CAGR (2024-2029)
Largest Market by End-user Industry
46.61 %
value share, Electrical and Electronics, 2023
The electronics segment occupied the highest market share due to the widespread applications of engineering plastics like ABS/SAN, PC, and PA in advanced and smart electrical devices.
Fastest Growing Market by End-user Industry
9.14 %
Projected CAGR, Automotive, 2024-2029
The automotive industry is expected to witness the fastest growth due to the rapid adoption of lightweight and high-impact resistant engineering plastics to replace traditional metal parts.
Largest Market by Resin Type
33.42 %
value share, Styrene Copolymers (ABS and SAN), 2023
Styrene copolymers have wide applications in the automotive, aerospace, and electronics industries, and they accounted for the largest share in 2022.
Fastest Growing Market by Resin Type
9.31 %
Projected CAGR, Fluoropolymer, 2024-2029
Due to the increasing applications in lithium-ion batteries and architectural coatings, fluoropolymers are expected to witness the fastest growth.
Leading Market Player
9.69 %
market share, CHIMEI, 2022
In 2022, with the largest production capacity of around 2.9 million tons per year of polymers, such as styrene copolymers, PMMA, and polycarbonate, in China, the company held the largest market share.
Packaging to lose its market share by volume to the electrical and electronics industry
- Engineering plastics have applications ranging from interior wall panels and doors in the aerospace industry to rigid and flexible packaging. The Asia-Pacific engineering plastics market is led by the packaging, electrical and electronics, and automotive industries. The packaging electrical and electronics industries accounted for around 39.65% and 35.86%, respectively, of the engineering plastics market by volume in 2022.
- In 2020, China's engineering plastics consumption fell by 2.88% by volume over the previous year due to disruptions in the global supply chain. However, consumption recovered in 2021 and continued to grow steadily, increasing by 2.35% in volume in 2022.
- The packaging industry consumes the highest amounts of engineering plastics in the country due to the large-scale production of plastic bottles used in the packaging of beverages, drinking water, personal care, and household care products, among others. China is the largest e-commerce market globally, with its share amounting to almost 50%. The country's e-commerce market is projected to reach a revenue of around USD 2.3 trillion in 2027 from USD 1.4 trillion in 2023. In 2022, the industry consumed 7.09 million tons of resin, which is expected to reach 9.6 million tons by 2029. All these factors boost the industry's consumption, which is expected to record a CAGR of 6.47%, by value, during the forecast period.
- Automotive is the fastest-growing end-user industry of the Chinese engineering plastics market, expected to record a CAGR of 9.40% by revenue during the forecast period. This is in line with the industry's increasing demand for lightweight engineering plastic composites, such as polycarbonate, polyamide, and fluoropolymer, for use in vehicle components due to their benefits such as high-temperature use, chemical inertness, resistance to abrasion, and non-leaching capabilities that ensure consistent performance.
Understand The Key Trends Shaping This Market
