Thermoplastics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Product Type (Commodity Thermoplastics, Engineering Thermoplastics, High-performance Engineering Thermoplastics, and Other Product Types), End-user Industry (Packaging, Building and Construction, Automotive and Transportation, Electrical and Electronics, Sports and Leisure, Furniture and Bedding, Agriculture, Medical, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Thermpoplastics Market - Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >6 %

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Market Overview

The thermoplastics market is expected to register a CAGR of more than 6% during the forecast period. Some of the prominent trends that the market is increasing capacity additions in downstream processing and growing consumer goods and electronics industries.

  • Impact of COVID-19 pandemic and various environmental concerns related to thermoplastics are likely to hinder the market’s growth.
  • Growing popularity of bio-based products is expected to act as an opportunity for the market.

Scope of the Report

The thermoplastics market report includes:

Product Type
Commodity Thermoplastics
Polyethylene (PE)
Polypropylene (PP)
Polyvinyl chloride (PVC)
Polystyrene (PS)
Engineering Thermoplastics
Polyamide (PA)
Polycarbonates (PC)
Polymethyl methacrylate (PMMA)
Polyoxymethylene (POM)
Polyethylene terephthalate (PET)
Polybutylene terephthalate (PBT)
Acrylonitrile butadiene styrene (ABS)/Styrene acrylonitrile (SAN)
High-performance Engineering Thermoplastics
Polyether ether ketone (PEEK)
Liquid Crystal Polymer (LCP)
Polytetrafluoroethylene (PTFE)
Polyimide (PI)
Other Product Types (PPE, PSU, PEI, PPS, ETFE, PFA, FEP, PBI)
End-user Industry
Building and Construction
Automotive and Transportation
Electrical and Electronics
Sports and Leisure
Furniture and Bedding
Other End-user Industries
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand from Automotive and Transportation

  • Thermoplastics have been extensively used in numerous automotive and transportation applications. Some of the applications of engineering plastics are as follows: Automotive airbags, Under-the-hood applications, Automotive electrical and electronics among others.
  • Growing demand for lightweight materials in the automotive industry, in order to provide increased efficiency and design flexibility, is primarily responsible for the growth of the thermoplastics market.
  • High-performance engineering plastics offer manufacturers the advantages of design and comparable strength of steel, which help in reducing the overall weight and controlling greenhouse gas emissions.
  • Currently, the Asia-Pacific region is the manufacturing hub for automobiles and its related components. The region is expected to witness the fastest growth during the forecast period, owing to the factors, such as growing automotive sales in the region, coupled with increasing number of automotive OEM manufacturers.
  • North America is witnessing a huge demand for lightweight automobiles, driven by the growing consumer preference for high-quality, fuel-efficient automobiles. Therefore, the utilization of engineering plastics for manufacturing automobiles is rapidly increasing in the region.
  • Further, the presence of automotive giants in the European region, along with huge investments made in the automotive R&D sector by companies, as well as governments in Europe, is propelling the growth of thermoplastics in the region.
Thermoplastics Market Segmentation Trends

India to Dominate the Market Growth

  • India is a growing economy and holds great potential for future market opportunities.
  • Automotive and consumer electronics are among the fastest-growing end-user industries in the country. The rising technological expertise and plastic production facilities in the country are projected to boost the demand for thermoplastics, during the forecast period.
  • Consumer durables, like electronics appliances, have witnessed tremendous increase in production and sales, owing to the growing middle-class income, rapid urbanization, and change in lifestyle of the working class. Government initiatives have supported the expansion of the consumer electronics production in the country. Many global manufacturers have expanded their production facilities in the country, and many manufacturing projects are expected to be underway over the next decade.
  • The aircraft manufacturing, repair, and maintenance activities in the country are increasing at a steady rate, owing to factors, like government partnerships and incentives for private companies, supportive FDI policies, adoption of new technologies, and government focus on improving regional connectivity.
  • The demand for new airplanes in the country is expected to rise significantly, which is a positive factor for the adoption of thermoplastics, like PI, PEEK, and PPS, in manufacturing, repair, and maintenance activities.
  • The consumption of thermoplastics is increasing the automotive sector in India, owing to the increasing consumer preference for lightweight and fuel-efficient vehicles. Entry of new players (such as Kia and Lexus), and expansions in the current manufacturing facilities by major manufacturers in the country (such as Toyota, Volvo, and Skoda) are expected to drive the demand for thermoplastics used for automotive production purposes.
Thermoplastics Market Regional Trends

Competitive Landscape

The thermoplastics market is fragmented, with few players holding the major share in the market. Key players in the thermoplastics market include Arkema, BASF SE, Evonik Industries AG, SABIC, Covestro AG, Solvay, DSM, DuPont, Asahi Kasei Corporation, and TEIJIN LIMITED, among others.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Rapid Increase in Downstream Processing Capacity Additions

      2. 4.1.2 Growing Consumer Goods and Eelctronics Industries

    2. 4.2 Restraints

      1. 4.2.1 Impact of COVID-19 Pandemic on Global Economy

      2. 4.2.2 Other 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


    1. 5.1 Product Type

      1. 5.1.1 Commodity Thermoplastics

        1. Polyethylene (PE)

        2. Polypropylene (PP)

        3. Polyvinyl chloride (PVC)

        4. Polystyrene (PS)

      2. 5.1.2 Engineering Thermoplastics

        1. Polyamide (PA)

        2. Polycarbonates (PC)

        3. Polymethyl methacrylate (PMMA)

        4. Polyoxymethylene (POM)

        5. Polyethylene terephthalate (PET)

        6. Polybutylene terephthalate (PBT)

        7. Acrylonitrile butadiene styrene (ABS)/Styrene acrylonitrile (SAN)

      3. 5.1.3 High-performance Engineering Thermoplastics

        1. Polyether ether ketone (PEEK)

        2. Liquid Crystal Polymer (LCP)

        3. Polytetrafluoroethylene (PTFE)

        4. Polyimide (PI)

      4. 5.1.4 Other Product Types (PPE, PSU, PEI, PPS, ETFE, PFA, FEP, PBI)

    2. 5.2 End-user Industry

      1. 5.2.1 Packaging

      2. 5.2.2 Building and Construction

      3. 5.2.3 Automotive and Transportation

      4. 5.2.4 Electrical and Electronics

      5. 5.2.5 Sports and Leisure

      6. 5.2.6 Furniture and Bedding

      7. 5.2.7 Agriculture

      8. 5.2.8 Medical

      9. 5.2.9 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Russia

        6. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers & 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 3M (incl. Dyneon LLC)

      2. 6.4.2 Arkema

      3. 6.4.3 Asahi Kasei Corporation

      4. 6.4.4 BASF SE

      5. 6.4.5 Celanese Corporation

      6. 6.4.6 Chevron Phillips Chemical Company

      7. 6.4.7 Covestro AG

      8. 6.4.8 Daicel Corporation

      9. 6.4.9 DuPont

      10. 6.4.10 DSM

      11. 6.4.11 Eastman Chemical Company

      12. 6.4.12 Evonik Industries AG

      13. 6.4.13 INEOS AG

      14. 6.4.14 LANXESS

      15. 6.4.15 LG Chem

      16. 6.4.16 LyondellBasell Industries Holdings B.V. (incl. A. Schulman Inc.)

      17. 6.4.17 Mitsubishi Engineering-Plastics Corporation

      18. 6.4.18 Polyplastics Co., Ltd.

      19. 6.4.19 Röchling

      20. 6.4.20 SABIC

      21. 6.4.21 Solvay

      22. 6.4.22 TEIJIN LIMITED

    5. *List Not Exhaustive

    1. 7.1 Growing Popularity of Bio-based Products

**Subject to Availability

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Frequently Asked Questions

The Thermoplastics Market market is studied from 2016 - 2026.

The Thermoplastics Market is growing at a CAGR of >6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Arkema SA, BASF SE, Evonik Industries AG, SABIC, Solvay are the major companies operating in Thermoplastics Market.

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