Engineering Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Engineering Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global engineering plastics market size reached US$ 113.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 180.2 Billion by 2028, exhibiting a growth rate (CAGR) of 7.31% during 2023-2028.

Engineering plastics are generally used to manufacture mechanical parts, containers and packaging substances. They are extensively utilized as a preferred alternative to metal and ceramics due to their lightweight property. Additionally, they provide excellent load capacity, mechanical strength, thermal stability and durability while offering designing flexibility. Some of the commonly used engineering plastics variants include polyamides (PA), polycarbonates (PC), nylon 6, acrylonitrile butadiene styrene (ABS) and polysulphone (PSU). They are widely utilized in the manufacturing of car bumpers, dashboard trims, ski boots, helmets and optical discs across multiple sectors.

Engineering Plastics Market Trends:

The global market is primarily driven by the rising preference for lightweight automobiles among the masses. Along with this, the widespread adoption of engineering plastic in the production of several vehicle components is providing an impetus to the market growth across the globe. Moreover, increasing investments by private and public agencies in infrastructural development projects have led to the rising utilization of polyvinyl chloride (PVC) pipes for water supply systems, which is providing a boost to the uptake of engineering plastics. These plastics are also extensively used across the healthcare industry for packaging medical equipment and manufacturing medical implants, which is catalyzing the market growth across the globe. Furthermore, the rising usage of engineering plastics for manufacturing consumer electronics is acting as another major growth-inducing factor on the global level. Some of the other factors contributing to the market growth include continual product innovations and extensive research and development (R&D) activities conducted by key players.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global engineering plastics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Solvay S.A.

Key Questions Answered in This Report

1. What was the size of the global engineering plastics market in 2022?

2. What is the expected growth rate of the global engineering plastics market during 2023-2028?

3. What are the key factors driving the global engineering plastics market?

4. What has been the impact of COVID-19 on the global engineering plastics market?

5. What is the breakup of the global engineering plastics market based on the type?

6. What is the breakup of the global engineering plastics market based on the application?

7. What are the key regions in the global engineering plastics market?

8. Who are the key players/companies in the global engineering plastics market?