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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 share. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global engineering plastics market size reached USD 121.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 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 market is primarily driven by the increasing demand for lightweight materials in the automotive and aerospace industries. In accordance with this, the rise in infrastructure development, especially in emerging economies, requiring durability and strength is augmenting the market demand. The growing need for high-performance materials in the electronics and electrical industries, particularly for components such as connectors and insulators, is further driving market growth.
Furthermore, continual advancements in plastic manufacturing technologies, such as 3D printing and injection molding, are enhancing the production of complex and customized engineering plastic parts, thereby enhancing the market appeal. Similarly, the emerging trend of replacing traditional materials such as metal and glass with engineering plastics in various sectors, including healthcare and packaging, is contributing to increased market reach. Moreover, the growing adoption of engineering plastics in renewable energy applications, is further fueling market development.
Engineering Plastics Market Scope and Growth Analysis:
The scope of the market is expanding as industries across the globe seek materials that offer superior performance, versatility, and sustainability. The market scope is experiencing significant growth in sectors such as automotive, aerospace, electronics, and construction, where engineering plastics are replacing traditional materials due to their strength, durability, and cost-effectiveness. Furthermore, continual technological advancements in plastic processing and material science are opening new opportunities for product innovation and application, particularly in high-temperature and high-stress environments.
The market scope is also benefiting from the growing demand for eco-friendly and recyclable materials, as manufacturers focus on reducing their environmental impact. As per market analysis, the ongoing shift toward sustainable materials and the development of bio-based engineering plastics are attracting environmentally conscious consumers and manufacturers to the market. Besides this, increasing investments in research and development (R&D) by manufacturers to innovate and improve the properties of engineering plastics are pushing the market forward.
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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 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 (USA, Canada)
Europe (Germany, France, UK, Italy, Spain, Russia, others)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, others)
Middle East/Africa
Latin America (Brazil, Mexico, others)
According to the report, Asia Pacific accounted for the largest market share.
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 global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
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