Global Special Engineering Plastics Market 2023

Global Special Engineering Plastics Market 2023

Special engineering plastics refer to a class of engineering plastics that have excellent comprehensive properties, with a long-term service temperature of over 150°C. They have advantages such as high temperature resistance, insulation, corrosion resistance, and high mechanical strength. Special engineering plastics mainly include polyphenylene sulfide (PPS), high-performance polyamide (PPA, also known as high-temperature nylon), polysulfone (PSF, including general bisphenol A-type polysulfone PSU, Polyphenylene sulfone PPSU, polyethersulfone PESU, and polyarylsulfone PASF), and polyetherketone (PAEK, including polyetheretherketone PEEK, polyetherketoneketone PEKK, and polyetherketones PEK). Special engineering plastics can replace metal components and are considered lightweight materials in the industrial field. Compared to other thermoplastics, the global consumption of special engineering plastics is relatively small, accounting for only about 0.1% of the global consumption of thermoplastics.

The global special engineering plastics market is projected to rise by USD 5.2 billion by 2029, according to the latest market study results. It is anticipated to expand at a CAGR of 7.9 percent during the forecast period. In the automotive application, lightweighting and electrification are the main factors driving the growth in demand for specialty engineering plastics. For example, PPA and PPS replace metal materials in components exposed to high temperatures, like ignition, fuel, braking, and cooling systems. The increase in assembly temperature of electronic components and the increase in communication transmission frequency are the main factors driving the demand growth for special engineering plastics. For example, LCP has now become one of the preferred materials for 5G antennas. At the same time, LCP is also used in connectors and servo motors for robots.

Market Segmentation
This industry report offers market estimates of the global market, followed by a detailed analysis of the product, application, and region. The global market data on special engineering plastics can be segmented by product: liquid crystal polymer (LCP), polyetherketoneketone (PAEK), polyimide (PI), polyphenylene sulfide (PPS), polyphthalamide (PPA), polysulfone, others. Globally, the PPA segment made up the largest share of the special engineering plastics market. Special engineering plastics market is further segmented by application: transportation, electrical and electronics, industrial, consumer goods, other. The transportation segment captured the largest share of the market in 2022. Based on region, the special engineering plastics market is segmented into: USA, Europe, China, Japan, RoW (Rest of World). According to the research, China had the largest share in the global special engineering plastics market.

Major Companies and Competitive Landscape
The global special engineering plastics market is highly competitive. The special engineering plastics market is dominated by key players, which are BASF SE, SABIC, Solvay S.A., Sumitomo Corporation Group, DIC Corporation, Toray Industries Inc., Kureha Corporation, Royal DSM N.V., HDC Hyundai EP Company, Celanese Corporation, Arkema S.A., AKRO-PLASTIC GmbH, Evonik Industries AG, Victrex plc, Mitsubishi Chemical Corporation, Daicel Corporation.

The data-centric report focuses on market trends, status and outlook for segments. With comprehensive market assessment across the major geographies, the report is a valuable asset for the existing players, new entrants and the future investors.

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