The Engineering Plastic Market is expected to be worth US$ 1,08,000.92 million in 2023. The valuation was US$ 1,01,000.57 million in 2022. The market is predicted to progress with a CAGR of 7.2% over the forecast period. By 2033, the market is projected to reach US$ 2,16,458.83 million.
| Attributes | Details |
|---|---|
| Engineering Plastic Market Value for 2023 | US$ 1,08,000.92 million |
| Projected Market Value for 2033 | US$ 2,16,458.83 million |
| Value-based CAGR (2023 to 2033) | 7.2% |
Consumption Analysis in the Engineering Plastic Market
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The engineering plastic market size was US$ 77,052.85 million in 2018. The market progressed at a strong CAGR of 7% during the historical period from 2018 to 2022.
As the industrial sector continued to gain prominence during the historical period, the engineering plastic market benefitted. However, the pandemic resulted in many manufacturing units closing down. There was thus a stop in the need for packaging material in areas where manufacturing was badly hit. However, with manufacturing units re-opening, the market was back in swing. By the end of the historical period in 2022, the market size reached US$ 1,01,000.57 million.
| Attributes | Details |
|---|---|
| Engineering Plastic Market Value in 2018 | US$ 77,052.85 million |
| Historical Period CAGR (2018 to 2022) | 7.0% |
| Market Valuation in 2022 | US$ 1,01,000.57 million |
Long-term Analysis of the Engineering Plastic Market from 2023 to 2033
The engineering plastic market size is estimated to be US$ 1,08,000.92 million in 2023. The market is expected to grow at a CAGR of 7.2% over the forecast period from 2023 to 2033.
The rise of the engineering plastic market goes hand in hand with the rise of industrialization. The number of industrial units is increasing, leading to a rise in demand for engineering equipment. The need for packaging material, too, is expected to grow over the forecast period.
Industries such as construction, food & beverage, and electronics play key roles in the sale of engineering plastic. As there is a boom in the industries, the demand for packaging material is expected to grow exponentially. By the end of the forecast period, the market is expected to reach US$ 2,16,458.83 million.
Principal Consultant
The engineering plastic market can be separated into two segments: product type and application. By looking at the segments, the type of material most popularly used in engineering plastic becomes clear.
Acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN) are the most popular product types in engineering plastics. ABS and SAN are expected to account for 28.6% of the market share in 2023.
ABS and SAN have benefits like rigidness, high heat deflection temperature, and toughness which makes the products highly popular over alternatives. The products are used in the making of toys, musical instruments, electric and electronic products, and much more.
| Attributes | Details |
|---|---|
| Top Product Type | Acrylonitrile butadiene styrene (ABS) and Styrene Acrylonitrile (SAN) |
| Market Share in 2023 | 28.6% |
Engineering plastic finds overwhelming applications in the electric and electronic industries. For 2023, electrical and electronics applications contribute to 36% of the market share.
The electrics and electronics industry plays a key role in the engineering plastic market. With the advancements in technologies like robotics, Virtual Reality (VR), and the Internet of Things (IoT), there is expected to be rapid development in the electrics and electronics field. The development of the electric and electronic industries is contributing to the growth of the engineering plastic market.
| Attributes | Details |
|---|---|
| Top Application | Electrical and Electronics |
| Market Share in 2023 | 36% |
The Asia Pacific is expected to fastest growing region in the market. The rise of industries like automotive and aviation are suggested to be key factors for the rise of the market in the Asia Pacific. Other regions expected to show significant growth in the market include North America, Europe, and Africa.
| Countries | CAGR (2023 to 2023) |
|---|---|
| China | 9.7% |
| India | 9.8% |
| United States | 7.5% |
| Canada | 6.5% |
| France | 6.1% |
India is set to be one of the most promising markets for engineering plastic. For the forecast period from 2023 to 2033, the CAGR for the Indian market is expected to be 9.8%.
There has been rapid development in various industrial sectors in India, such as electrics & electronics, automotive, and packaged food industries. A number of companies are present in India to supply the need for engineering plastics. Among the companies in India are APPL Industries Ltd., Ester, and Shaily.
China is an Asian country with bright prospects for the engineering plastic market. The Chinese market is expected to progress at a CAGR of 9.7% over the forecast period.
China’s defense apparatus is mainly manufactured domestically. Engineering plastic is used in many defense apparatus products, such as military aircraft and missiles. Further, spending on defense is expected to increase in China. Thus, after a lull induced by the pandemic, the market is expected to prosper in China during the forecast period.
The United States holds promise for the engineering plastic market. For the forecast period from 2023 to 2033, the CAGR for the United States is anticipated to be 7.5%.
The popularity of packaged food continues unabated in the United States. As engineering plastic continues to be adopted into the packaging industry, packaged food, too, is making use of the product. Thus, the market has a bright future in the United States.
Canada is another North American country with potential for market growth. The CAGR for the Canadian market is expected to be 6.5% during the forecast period.
There is a rising focus in Canada on producing sustainable material, which extends to engineering plastic. For example, Canadian companies like PlasCred Circular Innovations Inc. and Plastonix, are concentrated on managing plastic waste. Thus, players in Canada are increasingly being presented with options for recyclable plastic.
France is one of the rapidly developing European countries in the market. The CAGR for the market in France is anticipated to be 6.1% through 2033.
Increasing production of aircraft is leading to growth in the sale of engineering plastic in France. With the rise in aircraft production, demand for components of aircraft is also rising, where engineering plastic plays a key role. Further, in June 2023, the French government announced its intent to decarbonize the aviation sector, which is further expected to boost market growth.
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The engineering plastic market is highly fragmented. Few dominant players exist in the global market, and there is room for enterprises of all scales.
Players in the market are investing heavily in research and development activities to come up with innovations. The production of recyclable materials is one of the key areas of focus for research.
Recent Developments in the Engineering Plastic Market
Polyamides (PA), Polycarbonates (PC), Acrylonitrile butadiene styrene (ABS), and Styrene Acrylonitrile (SAN) are some examples of engineering plastic.
The engineering plastic market is estimated to be US$ 1,08,000.92 million in 2023.
The engineering plastic market is expected to progress at a CAGR of 7.2% over the forecast period from 2023 to 2033.
Arkema Group, Asahi Kasei Corporation, BASF SE, and Celanese Corporation are some of the leading companies in the market.
The engineering plastic market is expected to progress at a notable CAGR of 9.8% in India from 2023 to 2033.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Product Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Product Type, 2023 to 2033
5.3.1. Polyamides
5.3.2. Polycarbonates
5.3.3. Polyoxymethylene
5.3.4. Polybutylene terephthalate
5.3.5. Acrylonitrile butadiene styrene (ABS) and Styrene Acrylonitrile
5.3.6. High Performance Polymers
5.3.7. Fluoropolymers
5.3.8. Polymethyl methacrylate
5.3.9. Others
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Application, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Application, 2023 to 2033
6.3.1. Automotive and transportation
6.3.1.1. Interiors and safety
6.3.1.2. Exteriors and structural
6.3.1.3. Engine and mechanical
6.3.1.4. Others
6.3.2. Electrical and electronics
6.3.2.1. Consumer appliances
6.3.2.2. Electronic products
6.3.2.3. Others
6.3.3. Construction
6.3.3.1. Glazing and sky lighting
6.3.3.2. Pipes and fittings
6.3.3.3. Others
6.3.4. Medical
6.3.4.1. Diagnostic and drug delivery systems
6.3.4.2. Medical devices
6.3.4.3. Others
6.3.5. Industrial and machinery
6.3.6. Packaging
6.3.7. Others
6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Product Type
8.2.3. By Application
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Product Type
8.3.3. By Application
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Product Type
9.2.3. By Application
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product Type
9.3.3. By Application
9.4. Key Takeaways
10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Product Type
10.2.3. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product Type
10.3.3. By Application
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Product Type
11.2.3. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product Type
11.3.3. By Application
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Product Type
12.2.3. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product Type
12.3.3. By Application
12.4. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Product Type
13.2.3. By Application
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Product Type
13.3.3. By Application
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Product Type
14.2.3. By Application
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Product Type
14.3.3. By Application
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Product Type
15.1.2.2. By Application
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Product Type
15.2.2.2. By Application
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Product Type
15.3.2.2. By Application
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Product Type
15.4.2.2. By Application
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Product Type
15.5.2.2. By Application
15.6. UK
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Product Type
15.6.2.2. By Application
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Product Type
15.7.2.2. By Application
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Product Type
15.8.2.2. By Application
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Product Type
15.9.2.2. By Application
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Product Type
15.10.2.2. By Application
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Product Type
15.11.2.2. By Application
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Product Type
15.12.2.2. By Application
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Product Type
15.13.2.2. By Application
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Product Type
15.14.2.2. By Application
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Product Type
15.15.2.2. By Application
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Product Type
15.16.2.2. By Application
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Product Type
15.17.2.2. By Application
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Product Type
15.18.2.2. By Application
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Product Type
15.19.2.2. By Application
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Product Type
15.20.2.2. By Application
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Product Type
15.21.2.2. By Application
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2022
15.22.2.1. By Product Type
15.22.2.2. By Application
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2022
15.23.2.1. By Product Type
15.23.2.2. By Application
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Product Type
16.3.3. By Application
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Arkema Group
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. Asahi Kasei Corporation
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. BASF SE
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Celanese Corporation
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Covestro
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. DSM N.V.
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. DuPont
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. Lanxess
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. LG Chem
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. Mitsubishi Engineering-Plastics Corporation
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Engineering Plastic Market
