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.
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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
