Engineering Plastics Market Revenue Growth, New Launches, Regional Share Analysis & Forecast till 2026
The global Engineering
Plastics Market is forecast to reach USD 138.59 Billion by 2026,
according to a new report by Reports and Data. The market is rising rapidly in
the global market due to the increase in high demand for engineering plastics
in various highly productive applications. These plastics offer transparency,
self-lubrication, and economy in fabricating and decorating with almost the
same durability and toughness when compared to metals.
The automotive segment has witnessed the highest amount of
usage of the engineering plastics. About 21.0% of the overall market is
acquired by the automotive applications in 2018. The most prominent reason the
engineering plastics has a significant market in automotive industries and is
chosen over metals or any other heavy metal these days, is that the plastics
have a way lesser amount of weight than those alternatives. This helps plastic
to reduce fuel consumption.
The Asia Pacific region for this market is forecasted to
generate a revenue of USD 64.31 Billion in the year 2026, owing to its
extensive market penetration towards engineering plastics coupled with its
superior development in automotive and construction industries mostly in China,
Japan, and India.
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Key participants include BASF
SE, Dowdupont, LG Chem Ltd., Asahi Kasei Corporation, Mitsubishi
Engineering-Plastics Corporation, Polyplastics Co. Ltd, Royal DSM, Trinseo,
Evonik Industries AG, LANXESS.
Further key findings from the report suggest
- Nylon
has a high tensile strength, elasticity, moisture absorptivity, and is
also easy to wash. Nylon is widely used for a variety of applications to include
clothing, reinforcement in rubber materials such as car tires, temperature
sealing materials, a number of injection molded parts for vehicles, and
mechanical equipment. Nylon is often used as an alternative to low
strength metals. Nylons had a market share of 8.2% in 2018 and is expected
to grow with a CAGR of 9.6% throughout the forecast period.
- Polyamides
are naturally present in the world. Instances for the natural Polyamides
would be wool and silk. However, Polyamides are often artificially made
through solid-phase synthesis. Kevlar and Nomex are some of the commercial
products available in the market. The segment is expected to grow with a
CAGR of 7.4% in the period 2019-2026 and would reach a revenue of USD
15.38 Billion by the end of the forecast period.
- High
Performance segment possesses properties which are comparatively more
endurable and have a broader range of thermal sensitivity. These type of
plastics are costlier than the low performance ones and used mostly in the
automotive and construction industry. The market share for this segment in
2018 was 62.4%.
- Electronic
& Electrical Components includes insulators, bobbins, connectors,
television bodies, mobile phone bodies, circuit boards and others. The
market revenue is forecasted to USD 26.19 Billion by 2026.
- APAC
having its massive rise in demand from the automotive and electronics and
electrical components segment in China, Japan, and India, is expected to
dominate the market with a CAGR of 9.1% during the forecast period with a
market share of 46.4% by 2026.
- North
America, with its increasing rate of demand for plastics in the automotive
segment, is accounted to gain 20.8% of market possession by 2026 with a
CAGR of 7.9% during the forecast period.
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For the purpose of this report, Reports and Data have
segmented the global engineering plastic market on the basis of type,
performance parameter, applications, and region:
Type Outlook (Revenue, USD Billion; 2016-2026)
- Acrylonitrile
Butadiene Styrene (ABS)
- Nylons
- Polyamides
(PA)
- Polybutylene
Terephthalate (PBT)
- Polycarbonates
(PC)
- Polyethers
- Polyethylene
Terephthalate (PET)
- Polyimides
(PI)
- Polyoxymethylene
(POM)
- Polyphenylenes
- Polysulphone
(PSU)
- Polytetrafluoroethylene
(PTFE)
Performance Parameter Outlook (Revenue, USD Billion;
2016-2026)
- High
Performance
- Low
Performance
Applications of Plastic Outlook (Revenue, USD Billion;
2016-2026)
- Packaging
- Automotive
- Electronics
& Electrical Components
- Construction
- Machinery
- Consumer
Goods
- Medical
Products
- Others
The regional analysis covers:
·
North America
(U.S., Canada)
·
Europe (U.K.,
Italy, Germany, France, Rest of EU)
·
Asia Pacific
(India, Japan, China, South Korea, Australia, Rest of APAC)
·
Latin America
(Chile, Brazil, Argentina, Rest of Latin America)
·
Middle East &
Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Regional Analysis:
The report offers clear insights into
the regional bifurcation of the market with regards to the regions where the
market has already established its prominence. Furthermore, it analyses the key
regions for production and consumption ratio, import/export analysis, supply
and demand dynamics, regional trends and demands, and the presence of prominent
players in each region. The regional analysis segments also offer a
country-wise analysis to offer a panoramic view of the market.
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know more about the report, visit @ https://www.reportsanddata.com/report-detail/engineering-plastics-market
Competitive Landscape:
The report offers a comprehensive
overview of the competitive landscape of the market to provide an advantage to
the reader. This segment focuses on the initiatives and innovations adopted by
the key players to gain a strong foothold in the market. The report also sheds
light on mergers and acquisitions, joint ventures, collaborations,
partnerships, and agreements, among others, to offer a better understanding of
the market. The report also offers insights into revenue, gross profit margin,
financial standing, market position, product portfolio, and other vital aspects
of each player. The report also includes a thorough SWOT analysis and Porter’s
Five Forces analysis.
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