The Engineered Plastics Market Industry was valued at USD 108.55 billion in 2022 and is projected to reach USD 170.41 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2023 to 2030.
Engineered plastics, also known as advanced or high-performance plastics, are a class of materials specifically designed to possess superior mechanical, thermal, and chemical properties. These plastics find extensive applications across various industries, including automotive, aerospace, electronics, healthcare, and packaging, among others.
The market for engineered plastics has witnessed significant growth in recent years, driven by the increasing demand for lightweight and durable materials in various end-use sectors. The automotive industry, in particular, has been a major contributor to the market's expansion, as engineered plastics offer enhanced fuel efficiency, reduced emissions, and improved safety features.
Moreover, the rising adoption of electric vehicles (EVs) and the growing focus on sustainability have further propelled the demand for engineered plastics. These materials enable the production of lightweight EV components, contributing to increased energy efficiency and extended driving range.
Additionally, the healthcare sector has emerged as a prominent consumer of engineered plastics due to their biocompatibility, sterilizability, and resistance to chemicals. The use of these plastics in medical devices, drug delivery systems, and surgical instruments has revolutionized patient care and improved overall healthcare outcomes.
Geographically, North America and Europe have traditionally dominated the engineered plastics market, owing to the presence of well-established industries and advanced manufacturing capabilities. However, the Asia-Pacific region is expected to witness substantial growth during the forecast period, driven by rapid industrialization, urbanization, and increasing disposable incomes.
In conclusion, the engineered plastics market is poised for significant expansion in the coming years, driven by the demand for lightweight, durable, and high-performance materials across various industries. With technological advancements and evolving consumer preferences, the market is expected to witness steady growth, offering lucrative opportunities for In particular, the automotive and electronics sectors are anticipated to be major contributors to the growth of the engineered plastics market, as they increasingly rely on these materials for their products.
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Key Players:
The key players are SABIC (Saudi Arabia), LANXESS AG (Germany), Covestro AG (Germany), BASF SE (Germany), Mitsubishi Chemical Holdings Corporation (Japan), Celanese Corporation (US), Evonik Industries AG (Germany), The Dow Chemical Company (US), Solvay S.A. (Belgium), LG Chem Ltd. and other players.
MARKET SEGMENTATION:
By Type
- Acrylonitrile Butadiene Styrene
- Polyamide
- Polycarbonate
- Thermoplastic Polyester
- Polyacetal
- Fluoropolymer
- Others
By end-use industries
- Automotive & Transportation
- Consumer Appliances
- Electrical & Electronics
- Industrial & Machinery
- Packaging
- Others
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Table of Content
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter’s 5 forces model Textile Chemicals Market
7. PEST Analysis
8. Emulsion Engineered Plastics Market Industry By Product Type
9.Emulsion Engineered Plastics Market Industry By Application
10.Emulsion Engineered Plastics Market Industry By End Use
11.Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion
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