Global Engineering Plastics Market Size Study by Type (Polycarbonate, Polyamide, ABS, PET & PBT, POM, Fluoropolymer), by End-use Industry (Automotive & Transport, Electrical & Electronics, Industrial & Machinery, Packaging), and Regional Forecasts 2022-20

Global Engineering Plastics Market Size Study by Type (Polycarbonate, Polyamide, ABS, PET & PBT, POM, Fluoropolymer), by End-use Industry (Automotive & Transport, Electrical & Electronics, Industrial & Machinery, Packaging), and Regional Forecasts 2022-2032

The Global Engineering Plastics Market is valued at approximately USD 113.2 billion in 2023 and is projected to expand at a steady CAGR of 5.60% during the forecast period from 2024 to 2032. Engineering plastics, characterized by their superior mechanical, thermal, and chemical properties, are replacing traditional materials such as metals and ceramics in a variety of industries. These advanced polymers provide exceptional durability, lightweight properties, and resistance to wear, making them indispensable in automotive, electronics, and industrial applications.

The market's upward trajectory is driven by the growing demand for lightweight automotive components aimed at improving fuel efficiency and reducing emissions. Additionally, the burgeoning electrical and electronics sector benefits from the thermal stability and flame-retardant properties of engineering plastics. Innovations in polymer chemistry and processing techniques have further bolstered their versatility and performance. However, high production costs and challenges related to recyclability remain critical constraints for the market's growth.

North America and Europe currently dominate the engineering plastics market, owing to their robust automotive and industrial bases, stringent environmental regulations, and a focus on technological advancements. Meanwhile, the Asia Pacific region is witnessing the fastest growth, supported by rapid industrialization, expanding automotive production, and increasing consumer electronics demand in countries like China, India, and South Korea. Latin America and the Middle East & Africa, though at an earlier stage of adoption, present lucrative opportunities as awareness and infrastructural development progress.

Leading players in the Global Engineering Plastics Market are emphasizing strategic partnerships, mergers, and acquisitions to enhance their market share. The focus on research and development to produce sustainable and high-performance materials is shaping the competitive landscape. Companies are also exploring recycling initiatives and bio-based alternatives to align with global sustainability goals.

Major market players included in this report are:
• SABIC
• BASF SE
• Covestro AG
• Solvay SA
• Arkema SA
• Evonik Industries AG
• Celanese Corporation
• DSM Engineering Materials
• LANXESS AG
• Mitsubishi Chemical Corporation
• Toray Industries Inc.
• Asahi Kasei Corporation
• Teijin Limited
• Radici Group
• LG Chem

The detailed segments and sub-segments of the market are explained below:

By Type:
• Polycarbonate
• Polyamide
• ABS
• PET & PBT
• POM
• Fluoropolymer

By End-use Industry:
• Automotive & Transport
• Electrical & Electronics
• Industrial & Machinery
• Packaging

By Region:

North America:
• U.S.
• Canada

Europe:
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific:
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America:
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa:
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Years considered for the study are as follows:
• Historical Year: 2022
• Base Year: 2023
• Forecast Period: 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of the geographical landscape, including country-level insights.
• Competitive landscape analysis with information on major players.
• Insights into key business strategies and recommendations for future market approaches.
• Comprehensive demand-side and supply-side analysis of the market.

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