1. business and industrial

Engineering Plastics Market Revenues to Increase at 7.2% CAGR through 2026
Future Market Insights delivers key insights on the global engineering plastics market
in an upcoming research publication titled, “Engineering Plastics Market: Global
Industry Analysis and Opportunity Assessment, 2016 – 2026”. The global
engineering plastics market is projected to register a healthy CAGR of 7.2% in terms
of value and 5.7% in terms of volume during the forecast period. Future Market
Insights analyses the market performance and provides information on the key factors
and trends impacting market growth over the forecast period 2016–2026.
The report segments the global engineering plastics market on the basis of Product
Type into Polyamides (PA), Polycarbonates (PC), Polyoxymethylene (POM),
Polybutylene terephthalate (PBT), Acrylonitrile butadiene styrene (ABS) and Styrene
Acrylonitrile (SAN), High Performance Polymers, Fluoropolymers, Polymethyl
methacrylate (PMMA), and Others (includes UHMWPE/UHMW, TPI alloys and
blends, etc.); and on the basis of Application into Automotive and transportation,
Electrical and electronics, Construction, Medical, Industrial and machinery,
Packaging, and Others (includes furniture and fixtures, sports goods, leisure products,
etc.). The Automotive and transportation segment is increasingly inclined towards
adoption of engineering plastics products due to their various thermal and mechanical
properties.
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The fuelling demand for engineering plastics is largely from automotive components
such as fasteners and supports for chassis and power trains and body panel lens of
head lamps as these parts require higher strength materials. Besides mechanical
strength, engineering plastics help in reducing the overall weight of the vehicles. Biobased engineering plastics that help reduce carbon footprint such as polyamides and
polycarbonates are also in high demand. Packaging, electrical and electronics, and
consumer goods are lucrative segments for bio-based engineering plastics ranging
from stiff to flexible grades. Strong market growth is likely to be observed across
high performance plastics such as PEI, PEEK, PSU/PES, PCTF, PVDC, PPSU, LCP,
PPS.
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A growing use of engineering plastics by end user industries, especially automotive,
transportation, and medical industries is expected to drive global demand over the
forecast period. Rapid urbanisation, infrastructure development, and increased
income levels across various end-user segments are other factors likely to boost the
growth of the global engineering plastics market. However, high costs of engineering
plastics, increasing use of alternative substitutes, and fluctuations in the cost of raw
materials are expected to hamper the growth of the global engineering plastics market
over the forecast period. Global sales revenue of engineering plastics is expected to
witness steady incremental growth during the forecast period. In the product type
category, the high performance plastics segment is anticipated to register a healthy
CAGR of 9.6% between 2016 and 2026, attributed to an increasing application in the
medical industry. In the application category, the electrical and electronics segment is
estimated to account for 36% value share of the global engineering plastics market by
2016, followed by the automotive and transportation segment (32.1%) and the
construction segment (11.1%).
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This report also covers trends driving each segment and offers analysis and insights
of the potential of the engineering plastics market in specific regions. The APEJ
region is expected to exhibit the highest market growth due to an increase in
population, income levels, and rapid urbanisation in the region. There is plenty of
scope in the APEJ region for manufacturing automobiles, consumer appliances,
electronic products, medical devices, industrial, and machineries. The APEJ region is
anticipated to register a CAGR of 6.8% between 2016 and 2026 in terms of volume.
APEJ is expected to gain substantial market share owing to high demand from India
and China, especially in the automotive and electrical and electronics industries. The
North America market is expected to register a CAGR of 7.3% during the forecast
period, owing to an increasing consumption of engineering plastics in the automotive
and transportation industry in the region. In terms of volume, the market share of
Western Europe and Japan is expected to decrease substantially over the forecast
period, as they are mature markets for engineering plastics.
The report also profiles leading players dominating the global engineering plastics
market. Arkema Group, Asahi Kasei Corporation, BASF SE, Celanese Corporation,
Covestro, DSM N.V, DuPont, Lanxess, LG Chem, Mitsubishi Engineering-Plastics
Corporation, Saudi Basic Industries Corporation (SABIC), Solvay SA, Teijin
Limited, Toray Industries, and Victrex PLC are some of the top companies operating
in the global engineering plastics market.
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