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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Engineering Plastics Market size was valued at US$ 80.72 billion in 2023 and is anticipated to grow at 115.13 billion till 2030 recording a CAGR of 7.5% from 2024-2030. Engineering plastics are thought to be of higher grade than conventional plastics. During the projected period, the global engineering plastics market is expected to see an increase in demand. Engineering plastics are utilised in a variety of industries, including consumer electronics. Engineer plastics are manufactured in small quantities, but the worldwide engineering industry is expected to grow over time. Engineering plastics are lighter and more durable than regular plastics. In terms of abrasion and corrosion resistance, they outperform metals. The need for engineering plastic is boosted by a number of end users, including electrical and electronics, automotive and transportation, equipment and industrial, and consumer goods. The car industry, on the other hand, is likely to be a key contributor. This is due to the growing trend toward lighter vehicles and the demand for lower vehicle emissions. Engineering plastic's global demand is also driven by its ease of processing. Another significant player in the engineering plastics sector is polyacetal.
In comparison to traditional plastics, polyacetal is resistant to abrasion and high temperatures, and so has higher stiffness, high mechanical strength, chemical resistance, and self-lubricating qualities. As a result, being resourceful to the global engineering plastic market's progress throughout the forecast period would be advantageous. The automotive industry has the opportunity to shape this fundamental restructuring. Plastics are majorly processed into automotive components and parts owing to their ease of manufacturing, possible sourcing from renewable raw materials and relative ease of improved design. Further, automotive plastics play a key role in performance and safety innovations in commercial vehicles, HMVs, modern cars and SUVs. They are usually strong, durable, scratch resistance, recyclable, resistive against abrasion, improve noise and vibration control and permit integration, moulding, and design of automobile components. Global engineering plastics market is surging owing to frequent acquisitions and launchings by the market players.
Study Period
2024-2030Base Year
2023CAGR
7.5%Largest Market
Asia PacificFastest Growing Market
Europe
During the last decade, the advancement in production and management systems has revolutionized the automotive industry. The industry has witnessed the opening up and growth of several emerging markets.Some of the key factors fostering the market growth include the growth of small and medium enterprises in emerging economies, growth in end-use industries, rising popularity of bio-based pet, growing purchasing power in developing economies and the progress and the expansion in the automotive industry. However, lack of institutional arrangements and competition from other polymers are the major factors hindering the market growth.
Global engineering plastics market report gives comprehensive outlook on engineering plastics across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific accounted for larger revenue share in global engineering plastics market with considerable CAGR. Asia Pacific is anticipated to witness considerable growth in this market due to increasing investments in the emerging markets, huge base of automobile manufacturers and presence of electrical and electronics manufacturers. In addition, Europe held substantial market during estimated period owing to innovation and technological advancement to develop new products and stringent emission and safety rules imposed by the European Union which forced companies to invest heavily in research and development.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 80.72 billion |
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Market CAGR |
7.5% |
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By Type |
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By Application |
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By Region |
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Download Free Sample Report
The engineering plastics market is projected to expand at a CAGR of 7.5% during the forecast period.
BASF, Covestro, Solvay SA, Celanese, DowDuPont, LG Chem, SABIC, Evonik Industries, Lanxess, Mitsubishi Engineering Plastics
The engineering plastics market size was valued at US$ 80.72 billion in 2023 and is anticipated to grow at 115.13 billion till 2030 recording a CAGR of 7.5% from 2024-2030.
| 1. Executive Summary |
| 2. Global Engineering Plastics Market Introduction |
| 2.1.Global Engineering Plastics Market - Taxonomy |
| 2.2.Global Engineering Plastics Market - Definitions |
| 2.2.1.Type |
| 2.2.2.Application |
| 2.2.3.Region |
| 3. Global Engineering Plastics Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Engineering Plastics Market Analysis, 2019-2023 and Forecast 2024-2030 |
| 4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Engineering Plastics Market By Type, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 5.1. Polyamides |
| 5.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. ABS |
| 5.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Thermoplastic Polyesters |
| 5.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Polycarbonates |
| 5.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Polyacetals |
| 5.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Fluoropolymers |
| 5.6.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 5.7. Others |
| 5.7.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.7.3. Market Opportunity Analysis |
| 6. Global Engineering Plastics Market By Application, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 6.1. Packaging |
| 6.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Building & Construction |
| 6.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Electrical & Electronics |
| 6.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Automotive |
| 6.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Consumer Products |
| 6.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Others |
| 6.6.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 7. Global Engineering Plastics Market By Region, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8. North America Engineering Plastics Market 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 8.1. Type Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Polyamides |
| 8.1.2.ABS |
| 8.1.3.Thermoplastic Polyesters |
| 8.1.4.Polycarbonates |
| 8.1.5.Polyacetals |
| 8.1.6.Fluoropolymers |
| 8.1.7.Others |
| 8.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Packaging |
| 8.2.2.Building & Construction |
| 8.2.3.Electrical & Electronics |
| 8.2.4.Automotive |
| 8.2.5.Consumer Products |
| 8.2.6.Others |
| 8.3. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9. Europe Engineering Plastics Market 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 9.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Polyamides |
| 9.1.2.ABS |
| 9.1.3.Thermoplastic Polyesters |
| 9.1.4.Polycarbonates |
| 9.1.5.Polyacetals |
| 9.1.6.Fluoropolymers |
| 9.1.7.Others |
| 9.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Packaging |
| 9.2.2.Building & Construction |
| 9.2.3.Electrical & Electronics |
| 9.2.4.Automotive |
| 9.2.5.Consumer Products |
| 9.2.6.Others |
| 9.3. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 9.3.6.Rest of EU |
| 10. Asia Pacific (APAC) Engineering Plastics Market 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Polyamides |
| 10.1.2.ABS |
| 10.1.3.Thermoplastic Polyesters |
| 10.1.4.Polycarbonates |
| 10.1.5.Polyacetals |
| 10.1.6.Fluoropolymers |
| 10.1.7.Others |
| 10.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Packaging |
| 10.2.2.Building & Construction |
| 10.2.3.Electrical & Electronics |
| 10.2.4.Automotive |
| 10.2.5.Consumer Products |
| 10.2.6.Others |
| 10.3. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11. Middle East and Africa (MEA) Engineering Plastics Market 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Polyamides |
| 11.1.2.ABS |
| 11.1.3.Thermoplastic Polyesters |
| 11.1.4.Polycarbonates |
| 11.1.5.Polyacetals |
| 11.1.6.Fluoropolymers |
| 11.1.7.Others |
| 11.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Packaging |
| 11.2.2.Building & Construction |
| 11.2.3.Electrical & Electronics |
| 11.2.4.Automotive |
| 11.2.5.Consumer Products |
| 11.2.6.Others |
| 11.3. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12. Latin America Engineering Plastics Market 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Polyamides |
| 12.1.2.ABS |
| 12.1.3.Thermoplastic Polyesters |
| 12.1.4.Polycarbonates |
| 12.1.5.Polyacetals |
| 12.1.6.Fluoropolymers |
| 12.1.7.Others |
| 12.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Packaging |
| 12.2.2.Building & Construction |
| 12.2.3.Electrical & Electronics |
| 12.2.4.Automotive |
| 12.2.5.Consumer Products |
| 12.2.6.Others |
| 12.3. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1. BASF (Germany) |
| 13.2.2. Covestro (Germany) |
| 13.2.3. Solvay SA (Belgium) |
| 13.2.4. Celanese (US) |
| 13.2.5. DowDuPont (US) |
| 13.2.6. LG Chem (South Korea) |
| 13.2.7. SABIC (Saudi Arabia) |
| 13.2.8. Evonik Industries (Germany) |
| 13.2.9. Lanxess (Germany) |
| 13.2.10. Mitsubishi Engineering Plastics (Japan). |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.