United States Engineering Plastics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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

US Engineering Plastics Industry Overview

United States Engineering Plastics Market Summary
Study Period: 2018 - 2028
CAGR: > 4 %

Major Players

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*Disclaimer: Major Players sorted in no particular order

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US Engineering Plastics Market Analysis

The market for United States Engineering Plastics is expected to grow at a CAGR of more than 4% during the forecast period. 

  • Engineering plastics replacing traditional materials is one of the major driving factor for the market growth.
  • By product type, PET is most used engineering plastic, and is likely to continue its dominance over the forecast period.

US Engineering Plastics Industry Segments

The United States Engineering Plastics Market report include:

Product Type
Fluoropolymers
Polycarbonate (PC)
Polyethylene Terephthalate (PET)
Polybutylene Terephthalate (PBT)
Polyacetal/Polyoxymethylene
Polymethyl Methacrylate (PMMA)
Polyphenylene Oxide
Polyphenylene Sulfide (PPS)
Styrene Copolymers (ABS & 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

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US Engineering Plastics Market Trends

This section covers the major market trends shaping the US Engineering Plastics Market according to our research experts:

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.
United States Engineering Plastics Market- Segmentation

Automotive and Transportation Segment to Drive the Market Growth

  • Some of the major applications of engineering plastics in automotive and transportation are as follows:
  • Automotive airbags (owing to their excellent balance of flexible design and ease of processing)
  • Under-the-hood applications (owing to their excellent thermal resistance, fatigue endurance, and wear resistance)
  • Automotive Electrical and Electronics (allows miniaturization, better heat management, and design flexibility)
  • Within the transportation segment, they are being increasingly used in the aerospace segment, such as for galley components, lavatory components, air ducts, and lighting houses.
  • 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 engineering plastics market. High-performance engineering plastics offer manufacturers the advantages of design and comparable strength of steel, which helps in reducing the overall weight and controlling greenhouse gas emissions.
  • Growing demand for electric vehicles is another factor driving the growth of the market. The need for lightweight material in these vehicles, to enhance energy efficiency, acts as a major impetus for the adoption of engineering plastics.
  • Such factors are expected to increase the demand for engineering plastics in the country.
United States Engineering Plastics Market- Segmentation

US Engineering Plastics Market Competitor Analysis

The United States engineering plastics market is partially fragmented in nature with the presence of many players in the market. Some of the major companies in United States engineering plastics market includes BASF SE, SABIC, Solvay, Covestro AG, and DuPont, among others. 

US Engineering Plastics Market Top Players

  1. BASF SE

  2. SABIC

  3. Solvay

  4. Covestro AG

  5. DuPont

*Disclaimer: Major Players sorted in no particular order

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US Engineering Plastics Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Engineering Plastics Replacing Traditional Materials

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 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 & 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

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Arkema SA

      3. 6.4.3 Ashland Inc.

      4. 6.4.4 BASF SE

      5. 6.4.5 Celanese Corporation

      6. 6.4.6 Chemtura Corporation

      7. 6.4.7 Chevron Phillips Chemical

      8. 6.4.8 Covestro AG

      9. 6.4.9 DuPont

      10. 6.4.10 Eastman Chemical Company

      11. 6.4.11 Evonik Industries AG

      12. 6.4.12 LANXESS

      13. 6.4.13 LG Chem

      14. 6.4.14 Lyondellbasell

      15. 6.4.15 Nova Chemicals Corporation

      16. 6.4.16 Polynt

      17. 6.4.17 PolyOne Corporation

      18. 6.4.18 Rochling Group

      19. 6.4.19 SABIC

      20. 6.4.20 Solvay

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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US Engineering Plastics Market Research FAQs

The United States Engineering Plastics Market is studied from 2018 - 2028.

The United States Engineering Plastics Market is growing at a CAGR of >4% over the next 5 years.

BASF SE , SABIC, Solvay, Covestro AG , DuPont are the major companies operating in United States Engineering Plastics Market.

United States Engineering Plastics Industry Reports

In-depth industry statistics and market share insights of the United States Engineering Plastics sector for 2020, 2021, and 2022. The United States Engineering Plastics research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the United States Engineering Plastics report PDF.

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