Market Size of germany engineering plastics Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 4.76 Billion |
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Market Size (2029) | USD 6.16 Billion |
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Largest Share by End User Industry | Packaging |
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CAGR (2024 - 2029) | 5.30 % |
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Fastest Growing by End User Industry | Aerospace |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Germany Engineering Plastics Market Analysis
The Germany Engineering Plastics Market size is estimated at 4.76 billion USD in 2024, and is expected to reach 6.16 billion USD by 2029, growing at a CAGR of 5.30% during the forecast period (2024-2029).
4.76 Billion
Market Size in 2024 (USD)
6.16 Billion
Market Size in 2029 (USD)
-0.03 %
CAGR (2017-2023)
5.30 %
CAGR (2024-2029)
Largest Market by End-user Industry
20.05 %
value share, Packaging, 2023
Due to the wide range of applications, including bottles, jars, and containers, specifically in the food and beverage industry, the packaging segment occupied the major share.
Fastest Growing Market by End-user Industry
7.22 %
Projected CAGR, Aerospace, 2024-2029
The aerospace 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
26.30 %
value share, Polyamide (PA), 2023
Due to the widespread applications in the automotive and electronics industries, like replacing traditional metal parts with lightweight and flexible components, polyamide resins recorded a major share.
Fastest Growing Market by Resin Type
6.69 %
Projected CAGR, Liquid Crystal Polymer (LCP), 2024-2029
Owing to the rising demand for high-performance, smaller, and thinner electrical components, LCP resin is projected to witness the fastest growth in the coming years.
Leading Market Player
14.31 %
market share, BASF SE, 2022
In 2022, the company held the largest market share, with a huge production capacity of around 370 kilotons per year of polymer resins in Germany. It majorly provides polyamide resins for automotive parts and construction materials.
Rising adoption of advanced materials to drive the demand for engineering plastics
- The German engineering plastics market accounted for around 21.5%, by value, of the European engineering plastics market in 2022. One of the major reasons behind the rise in the consumption of engineering plastics is their increasing application in the packaging and electrical and electronics industries.
- The packaging industry comprises the largest industry in the market, with a growth rate of 5.9%, by value, in 2022 compared to the previous year. With the increased demand for ready-to-eat convenience food and the emerging trend of on-the-go lifestyles, the consumption of packaging materials increased, bolstering the sales of engineering plastics. The emerging trend of online shopping from e-commerce websites also serves as a driving factor in the packaging industry.
- The electrical and electronics industry is the second-largest, which is expected to witness a consumption of 12%, by volume, in 2023 compared to 2022. Trends like the use of advanced materials, organic electronics, miniaturization, and disruptive technologies like artificial intelligence (AI) and the Internet of Things (IoT) have enabled smart manufacturing practices and worked as growth drivers for the industry.
- The market is expected to register a CAGR of 5.53% during the forecast period (2023-2029), with the aerospace industry reporting the highest CAGR of 7.55%, by value, due to an increase in the production of aerospace components. For instance, aerospace component production revenue is expected to reach USD 66.2 billion by 2029 compared to USD 42.3 billion in 2022.
Understand The Key Trends Shaping This Market
