Materials & Chemicals Market Research News

Research delivers insight into the Global engineering plastics market forecast to 2023

Materials & Chemicals Research

PET dominated the global engineering plastics market with nearly 24% share globally, while PEEK segment is estimated to register the fastest CAGR through the forecast period.

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The Global Engineering Plastics Market Has Been Estimated At USD 89,893.90 Million In 2017. The Market Is Expected To Register A CAGR Of 4.99% During The Forecast Period, 2018 To 2023.

GROWING POPULARITY OF BIO-BASED PET

PET is majorly used in the packaging industry, primarily  for packaging of water (bottled), food and alcoholic beverages.

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It is a downstream product of crude oils, but with growing environmental concerns, and depleting oil reserves, engineering plastic manufacturers are shifting toward the development of bio-based PET. However, the bio-based PET market is still in its growth stage and is commercially available as a partially bio-based product.

With increasing concerns about the reduction of carbon emissions, government and environmental agencies such as US EPA and European Commission are focusing on creating awareness regarding the usage and benefits of bio-based PET.

With the growing demand for engineering plastics, companies are developing products which can be used for new applications. Engineering plastic manufacturing companies, such as BASF, DowDuPont and Bayer, are consistently engaged in R&D activities to develop products that are environment-friendly and comply with regulations.

Furthermore, they have been investing in developing new technologies to continually enhance their competitive advantage in the industry.

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Asia-Pacific Dominates the Market

Asia-Pacific has the highest share in the market, accounting for nearly 50% of the global market share in 2017. The market for Asia-Pacific is driven majorly because of the increasing demand for engineering plastics by the end user industries including electrical & electronics, automotive & transportation.

Also, with the increasing automotive production in the major economies in the region, the market for engineering plastics has benefitted to a great extent.

China is the Largest Consumer

China is the largest producer and consumer of engineering plastics in the region. The demand for engineering plastics is increasing from various end-user sectors including electrical & electronics, automotive & transportation sector in China.

Automotive is one of the fastest growing sectors in developing economies like China due to the rise in disposable income among the population and various other factors. The abundant availability of raw materials and low cost of production estimated to boost the demand for engineering plastics market in the country

Key Developments in the Market

  • February 2017: Asahi Kasei and Bluestar planned joint venture for mPPE business in China.
  • February 2017: Chemtura announced merger agreement with Lanxess. This merger is aimed at the expansion of its product portfolio.

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Companies Mentioned:

  • BASF SE,
  • SOLVAY,
  • DUPONT,
  • SABIC,
  • and DSM

Other Players Include

  1. SCHULMAN, INC., ADVAN SIX INC., ARKEMA, ASAHI KASEI CORPORATION, ASHLAND CORPORATION, CELANESE CORPORATION, CHEMTURA CORPORATION, CHI MEI CORPORATION, CHEVRON PHILLIPS CHEMICAL COMPANY, COVESTRO, DAICEL CORPORATION, DYNEON LLC, EASTMAN CHEMICAL COMPANY, EVONIK INDUSTRIES AG, GRAND PACIFIC PETROCHEMICAL CORPORATION, INEOS, LANXESS, LG CHEM, MITSUBISHI ENGINEERING-PLASTICS CORPORATION, NOVA CHEMICALS CORPORATION, POLYONE, POLYPLASTICS CO., LTD., ROCHLING GROUP , TINSEO, AND TEIJIN LIMITED

    Reasons to Access this Report
  • Market definition, along with the identification of factors instrumental in changing the market scenario and prospective opportunities
  • Various market perspectives, with the help of Porter’s five forces analysis
  • Regions or countries that are expected to witness the fastest growth during the forecast period
  • Product segment, which is going to dominate the market over the forecast period
  • The latest developments, market shares, and strategies that are employed by the major market players
  • 3 months analyst support along with the Market Estimation sheet in excel.

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Table of Content:         

  1. Introduction

1.1 Scope of the Report

1.2 Research Methodology

  1. Executive Summary
  1. Market Insights

3.1 Industry Value-Chain Analysis

3.2 Industry Attractiveness – Porter’s Five Forces Analysis

3.2.1 Bargaining Power of Suppliers

3.2.2 Bargaining Power of Consumers

3.2.3 Threat of New Entrants

3.2.4 Threat of Substitute Products and Services

3.2.5 Degree of Competition

3.3 Patent Analysis

3.4 Raw Material Analysis

  1. Market Dynamics

4.1 Drivers

4.1.1 Growing Purchasing Power in the Developing Economies

4.1.2 Growing Popularity of Bio-Based PET

4.1.3 Engineering Plastics Replacing Traditional Materials

4.2 Restraints

4.2.1 Lengthy And Exhaustive Process For Manufacturing Of Engineering Plastics

4.2.2 Other Restraints

4.3 Opportunity

4.3.1 Innovative Product Applications

4.3.2 Increasing Usage in Aerospace Industry

4.3.3 Accelerating Usage in Green Vehicles

  1. Market Segmentation and Analysis

5.1 By Product Type

5.1.1 Fluoropolymers

5.1.2 Polyacetal/Polyoxymethylene

5.1.3 Polyamides

5.1.4 Polycarbonates

5.1.5 Polymethyl Methacrylate (PMMA)

5.1.6 Polyphenylene Oxide (PPO/PPE Blends)

5.1.7 Polyphenylene Sulfide (PPS)

5.1.8 Styrene Copolymers (ABS & SAN)

5.1.9 Polyethylene Terephthalate (PET)

5.1.10 Polybutylene Terephthalate (PBT)

5.1.11 Polyether Ether Ketone (PEEK)

5.1.12 Polyimides (PI)

5.1.13 Liquid Crystal Polymers (LCP)

5.2 By Application

5.2.1 Automotive & Transportation

5.2.2 Building and Construction

5.2.3 Consumer Goods

5.2.4 Electrical and Electronics

5.2.5 Industrial and Machinery

5.2.6 Packaging

5.2.7 Medical

  1. Regional Market Analysis

6.1 Asia-Pacific

6.1.1 China

6.1.2 India

6.1.3 Japan

6.1.4 South Korea

6.1.5 Australia and New Zealand

6.1.6 ASEAN Countries

6.1.7 Rest of Asia-Pacific

6.2 North America

6.2.1 United States

6.2.2 Canada

6.2.3 Mexico

6.2.4 Rest of North America

6.3 Europe

6.3.1 Germany

6.3.2 United Kingdom

6.3.3 Italy, Continued…

  1. Future of the Market
  1. Competitive Landscape

8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

8.2 Market Share Analysis*

8.3 Strategies Adopted by Leading Players

  1. Company Profiles (Overview, Financials*, Products & Services, Recent Developments, and Analyst View)

9.1 A. Schulman, Inc.

9.2 Advan Six Inc.,

9.3 Arkema

9.4 Asahi Kasei Corporation

9.5 Ashland Corporation

9.6 BASF SE

9.7 Celanese Corporation

9.8 Chemtura Corporation

9.9 Chi Mei Corporation

9.10 Chevron Phillips Chemical Company, Continued…

  1. Disclaimer
  1. subject to availability on public domain

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