The latest report by IMARC Group, titled “Engineering Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the engineering plastics market statistics. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global engineering plastics market size reached US$ 121.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 218.9 Billion by 2032, exhibiting a growth rate (CAGR) of 6.6% during 2024-2032.
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Engineering Plastics Market Trends:
The global engineering plastics market is witnessing substantial growth due to several key drivers. The increasing demand from various end-use industries, such as automotive, electronics, and construction, is significantly propelling market expansion. Engineering plastics are highly sought after for their superior mechanical properties, including high strength, rigidity, and thermal stability, which make them ideal for manufacturing components that require enhanced durability and performance. Additionally, the shift towards lightweight materials in the automotive industry to improve fuel efficiency and reduce emissions is boosting the demand for engineering plastics.
Technological advancements in material science are also leading to the development of new grades of engineering plastics with improved properties, further expanding their application scope. Along with this, the rising trend of miniaturization in the electronics industry is driving the need for high-performance materials capable of withstanding rigorous conditions. The growing emphasis on sustainability and recyclability is encouraging the adoption of eco-friendly engineering plastics, contributing to the market's positive growth trajectory.
Engineering Plastics Market Scope and Growth Analysis:
The global market is characterized by a diverse range of applications and a broad geographic scope. These materials are extensively used in the automotive sector for manufacturing lightweight and fuel-efficient vehicles, in the electronics industry for producing durable and high-performance components, and in the construction sector for various structural applications. The market is experiencing notable growth in regions such as Asia-Pacific, driven by rapid industrialization and urbanization, along with significant investments in infrastructure development.
North America and Europe also represent substantial market shares due to the presence of well-established automotive and electronics industries. In addition, the continuous innovation in polymer technology and the introduction of bio-based engineering plastics are creating new opportunities for market expansion. Additionally, the increasing focus on reducing plastic waste and enhancing material recyclability is expected to drive further advancements in engineering plastics.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 3M Company
- AdvanSix
- Arkema S.A.
- Avient Corporation
- BASF SE
- Celanese Corporation
- Daicel Corporation
- DuPont de Nemours Inc.
- Eastman Chemical Company
- Ineos Limited
- LANXESS Aktiengesellschaft
- Solvay S.A.
Engineering Plastics Market Segmentation:
Our report has categorized the market based on region, type, performance parameter and application.
Breakup by Type:
- Polyamide
- ABS
- Thermoplastic Polyesters
- Polycarbonates
- Polyacetals
- Fluoropolymers
- Others
Breakup by Performance Parameter:
- High Performance
- Low Performance
Breakup by Application:
- Packaging
- Building and Construction
- Electrical and Electronics
- Automotive
- Consumer Products
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
- Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About US:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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