Engineering Plastics Market | Growth, Trends, and Forecast (2020

Engineering Plastics Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Product Type (Fluoropolymers, Polycarbonate, Polyethylene Terephthalate, Polybutylene Terephthalate, Polyacetal/ Polyoxymethylene, Polymethyl Methacrylate, Polyphenylene Oxide, Polyphenylene Sulfide, Styrene Copolymers, Liquid Crystal Polymers, Polyether Ether Ketone, Polyimides, and Polyamides), Application (Automotive and Transportation, Building and Construction, Consumer Goods, Electrical and Electronics, Industrial and Machinery, Packaging, and Medical), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

ABOUT THIS REPORT
- Market Snapshot
- Market Overview
- Scope of the Report
- Key Market Trends
- Competitive Landscape
- Major Players
TABLE OF CONTENTS

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

5 %

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Market Overview

The market for engineering plastics is expected to register a CAGR of over 5% (in terms of revenue), during the forecast period. The growth is largely fuelled by engineering plastic rapidly replacing traditional plastics and other materials in several applications, growing popularity of bio-PET, and an increase in the purchasing power in developing economies.

By product type, Polyethylene Terephthalate (PET) is the most used engineering plastic around the world. However, Polyether Ether Ketone (PEEK) is projected to register the highest CAGR during the forecast period.
The growing applications in the aerospace industry and the adaptation of green vehicles are expected to provide numerous opportunities for the manufacturers in the market.
Asia-Pacific dominated the market with the largest consumption. It is also likely to register the highest CAGR during the forecast period.

Scope of the Report

The scope of the engineering plastics market report includes:

Product Type
		Fluoropolymers
		Polycarbonate (PC)
		Polyethylene Terephthalate (PET)
		Polybutylene Terephthalate (PBT)
		Polyacetal/ Polyoxymethylene
		Polymethyl Methacrylate (PMMA)
		Polyphenylene Oxide
		Polyphenylene Sulfide (PPS)
		Styrene Copolymers (ABS and SAN)
		Liquid Crystal Polymers (LCP)
		Polyether Ether Ketone (PEEK)
		Polyimides (PI)
		Polyamides

Application
		Automotive and Transportation
		Building and Construction
		Consumer Goods
		Electrical and Electronics
		Industrial and Machinery
		Packaging
		Medical

Geography

Asia-Pacific
	China
	India
	Japan
	South Korea
	ASEAN Countries
	Australia & New Zealand
	Rest of Asia-Pacific

North America
	United States
	Canada
	Mexico
	Rest of North America

Europe
	Germany
	United Kingdom
	Italy
	France
	Spain
	Russia
	Nordic Countries
	Netherlands
	Rest of Europe

South America
	Brazil
	Argentina
	Colombia
	Chile
	Rest of South America

Middle-East and Africa
	Saudi Arabia
	South Africa
	Qatar
	Rest of Middle-East and Africa

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Key Market Trends

Polyethylene Terephthalate (PET): The Most Used Engineering Plastic

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 multi-cavity molds. Due to its broad mechanical and electrical properties, PET is often used to replace metals in motor housings, switches, sensors, and other electrical applications.
PET and polyolefins are the most widely used materials in the plastic packaging industry. Some of the major properties of PET as a packaging material are recyclability, strength, and versatility, which drive the demand for these products.
These products mainly include take-out containers, frozen foods, carbonated drinks and juices, ketchup, bottled water, jars, and baked good containers. They are also used in the food industry for clamshells, deli containers, as well as microwave food trays.
PET also has great barrier properties that protect and preserve the contents of the product. PET maintains the fizz in carbonated soft drinks, the vitamins in juices, and the color in ketchup. In other words, it protects products and keeps them on the shelves and out of the rubbish bin, for a longer period.
With an increasing demand for beverage packaging and a lack of better substitute for PET resin for this application, the demand for PET is projected to increase over the forecast period.

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Asia-Pacific to Dominate the Market

Asia-Pacific accounted for the largest share of the market, with China alone consuming a share of around 35% of the overall market (more than double the entire North American region).
China is the largest producer and consumer of engineering plastics in the region. The abundant availability of raw materials and low cost of production have been supporting the production growth of the engineering plastics market in the country, since the past few years.
The consumption of engineering plastics has increased drastically in the recent past, due to the growing population, increasing urbanization, and substitution of many metals by suitable engineering plastics in various industries, such as packaging and automotive.
Furthermore, owing to the increasing automotive production in major economies of the region, the market for engineering plastics has benefitted to a great extent.

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Competitive Landscape

The engineering plastics market is fragmented in nature, with the top five players accounting for less than 15% (in terms of revenue generated) of the global market. Most market leaders are vertically integrated, i.e., they produce their own raw materials required for the manufacturing of engineering plastics, and are also engaged in the manufacturing of various engineering plastic products. The prominent players in the market include BASF SE, DuPont de Nemours, Inc., SABIC, Solvay, Royal DSM, Covestro, and Mitshubishi Corporation, among others.

Major Players

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1. INTRODUCTION
1. 1.1 Study Assumptions
2. 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
1. 4.1 Drivers
  1. 4.1.1 Growing Purchasing Power in Developing Economies
  2. 4.1.2 Growing Popularity of Bio-based PET
  3. 4.1.3 Engineering Plastics Replacing Traditional Materials
2. 4.2 Restraints
3. 4.3 Industry Value Chain Analysis
4. 4.4 Porter's Five Forces Analysis
  1. 4.4.1 Bargaining Power of Suppliers
  2. 4.4.2 Bargaining Power of Consumers
  3. 4.4.3 Threat of New Entrants
  4. 4.4.4 Threat of Substitute Products and Services
  5. 4.4.5 Degree of Competition
5. 4.5 Patent Analysis
6. 4.6 Policies and Regulations
7. 4.7 Production Process Analysis
5. MARKET SEGMENTATION
1. 5.1 Product Type
  1. 5.1.1 Fluoropolymers
  2. 5.1.2 Polycarbonate (PC)
  3. 5.1.3 Polyethylene Terephthalate (PET)
  4. 5.1.4 Polybutylene Terephthalate (PBT)
  5. 5.1.5 Polyacetal/ Polyoxymethylene
  6. 5.1.6 Polymethyl Methacrylate (PMMA)
  7. 5.1.7 Polyphenylene Oxide
  8. 5.1.8 Polyphenylene Sulfide (PPS)
  9. 5.1.9 Styrene Copolymers (ABS and SAN)
  10. 5.1.10 Liquid Crystal Polymers (LCP)
  11. 5.1.11 Polyether Ether Ketone (PEEK)
  12. 5.1.12 Polyimides (PI)
  13. 5.1.13 Polyamides
2. 5.2 Application
  1. 5.2.1 Automotive and Transportation
  2. 5.2.2 Building and Construction
  3. 5.2.3 Consumer Goods
  4. 5.2.4 Electrical and Electronics
  5. 5.2.5 Industrial and Machinery
  6. 5.2.6 Packaging
  7. 5.2.7 Medical
3. 5.3 Geography
  1. 5.3.1 Asia-Pacific
    1. 5.3.1.1 China
    2. 5.3.1.2 India
    3. 5.3.1.3 Japan
    4. 5.3.1.4 South Korea
    5. 5.3.1.5 ASEAN Countries
    6. 5.3.1.6 Australia & New Zealand
    7. 5.3.1.7 Rest of Asia-Pacific
  2. 5.3.2 North America
    1. 5.3.2.1 United States
    2. 5.3.2.2 Canada
    3. 5.3.2.3 Mexico
    4. 5.3.2.4 Rest of North America
  3. 5.3.3 Europe
    1. 5.3.3.1 Germany
    2. 5.3.3.2 United Kingdom
    3. 5.3.3.3 Italy
    4. 5.3.3.4 France
    5. 5.3.3.5 Spain
    6. 5.3.3.6 Russia
    7. 5.3.3.7 Nordic Countries
    8. 5.3.3.8 Netherlands
    9. 5.3.3.9 Rest of Europe
  4. 5.3.4 South America
    1. 5.3.4.1 Brazil
    2. 5.3.4.2 Argentina
    3. 5.3.4.3 Colombia
    4. 5.3.4.4 Chile
    5. 5.3.4.5 Rest of South America
  5. 5.3.5 Middle-East and Africa
    1. 5.3.5.1 Saudi Arabia
    2. 5.3.5.2 South Africa
    3. 5.3.5.3 Qatar
    4. 5.3.5.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
2. 6.2 Market Share Analysis
3. 6.3 Strategies Adopted by Leading Players
4. 6.4 Company Profiles
  1. 6.4.1 A. Schulman Inc.
  2. 6.4.2 AdvanSix Inc.
  3. 6.4.3 Arkema Group
  4. 6.4.4 Asahi Kasei Corporation
  5. 6.4.5 BASF SE
  6. 6.4.6 Celanese Corporation
  7. 6.4.7 Chi Mei Corporation
  8. 6.4.8 Covestro AG
  9. 6.4.9 Daicel Corporation
  10. 6.4.10 DuPont
  11. 6.4.11 Dyneon LLC (3M Company)
  12. 6.4.12 Eastman Chemical Company
  13. 6.4.13 Evonik Industries AG
  14. 6.4.14 Grand Pacific Petrochemical Corporation
  15. 6.4.15 INEOS Styrolution Group GmbH (INEOS)
  16. 6.4.16 LANXESS
  17. 6.4.17 LG Chem
  18. 6.4.18 Mitsubishi Engineering-Plastics Corporation
  19. 6.4.19 Polyone
  20. 6.4.20 Polyplastics Co. Ltd
  21. 6.4.21 Rochling Group
  22. 6.4.22 Royal DSM
  23. 6.4.23 SABIC
  24. 6.4.24 Solvay
  25. 6.4.25 Trinseo
  26. 6.4.26 TEIJIN Limited

*List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS
1. 7.1 Opportunities
  1. 7.1.1 Innovative Product Applications
  2. 7.1.2 Increasing Use in the Aerospace Industry
  3. 7.1.3 Increasing Use in Green Vehicles