Engineering Plastics Market - Growth, Trends, and Forecast (2019 - 2024)

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 & Africa).

Market Snapshot

Engineering Plastics Market - Market Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for engineering plastics is expected to register a CAGR of 5.19% (in terms of revenue), during the forecast period of 2019-2024. 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) was the most used engineering plastic around the world, in 2018. 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
Polyethylene Terephthalate (PET)
Polybutylene Terephthalate (PBT)
Polyacetal/ Polyoxymethylene
Polymethyl Methacrylate (PMMA)
Polyphenylene Oxide
Polyphenylene Sulfide
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
Australia & New Zealand
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Russia
Nordic Countries
Netherlands
Spain
Rest of Europe
South America
Brazil
Argentina
Colombia
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Qatar
Rest of Middle East & 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.
Engineering Plastics Market - Segmentation

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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.
Engineering Plastics Market - Regional Trends

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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, DowDuPont, SABIC, Solvay, Royal DSM, Covestro, and Mitshubishi Corporation, among others.

Major Players

  1. BASF SE
  2. DowDuPont
  3. SABIC
  4. Solvay
  5. Royal DSM

* Complete list of players covered available in the table of contents below

Engineering Plastics Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 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 Porters 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. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Fluoropolymers

      2. 5.1.2 Polycarbonate

      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

      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 Australia & New Zealand

        6. 5.3.1.6 ASEAN Countries

        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 Russia

        6. 5.3.3.6 Nordic Countries

        7. 5.3.3.7 Netherlands

        8. 5.3.3.8 Spain

        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 & 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 & Africa

  6. 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 DowDuPont

      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

    5. *List Not Exhaustive
  7. 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

**Subject to Availability

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