Press release
Engineering Plastics Market Size, Share, Growth, Revenue Forecast 2014-2022 by Key Players: BASF SE, LG Chem, Sabic Innovative Plastics, Solvay SA, Evonik Industries and Others
Engineering Plastics Market
COUNTRY OVERVIEW:
The German engineering plastics market accounted for nearly 32% of the European engineering plastics market in 2015. In 2015, BASF announced the expansion of compounding capacities for engineering plastics in Europe. From 2017, it will be possible to additionally produce up to 70,000 metric tons per year of Ultramid (PA) and Ultradur (PBT) at the Schwarzheide site, Germany.
Major players in the engineering plastics segment have adopted expansion, product development, and product launch as their key development strategies. Important players operating in the market include BASF SE (Germany), LG Chem (South Korea), Sabic Innovative Plastics (Saudi Arabia), Solvay SA (Belgium), Evonik Industries AG (Germany), Arkema SA (France), E. I. du Pont de Nemours and Company (U.S.), Royal DSM NV (Netherlands), Lanxess AG (Germany), and Bayer AG (Germany).
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Major factors that drive the market growth are the growth in trend of reducing vehicle weight and improvement in fuel efficiency coupled with metal replacement in the construction and electrical & electronics industries. In addition, the demand for engineering plastics market is supplemented by growth in end-user industries, as engineering plastics are primarily utilized through injection molding into required end product. However, fluctuating price of crude oil and regulatory challenges regarding CO2 emissions are expected to restrain the market growth.
Among all regions, Asia-Pacific generated the highest revenue, whereas LAMEA is projected to grow at a significant CAGR of 7.8%, due to several emerging economies with expanding end-user industries such as automotive, construction, and consumer products.
MARKET DEFINITION AND SCOPE
The report analyzes the world engineering plastics market based on type, application, and geography. Based on type, it is segmented into polyamide (PA), acrylonitrile-butadiene-styrene (ABS), thermoplastics polyesters (PBT), polycarbonate (PC), polyacetals (POM), fluoropolymers (PVDF/PTFE), and others (PEEK/PMMA/PPS).
Based on application, it is divided into packaging, building & construction, electrical & electronics, automotive, consumer products, and others. Geographically, it is studied across North America (U.S., Canada, and Mexico), Europe (Germany, Spain, France, UK, Turkey, Russia, and others), Asia-Pacific (China, India, Japan, and Others), and LAMEA (Brazil, Argentina, and others). The report includes market size of these aforementioned engineering plastics segments.
However, the market size is limited to abovementioned plastics only and excludes commodity plastics such as HDPE, LDPE, PVC, and PET.
TOP INVESTMENT POCKETS
Automotive was the highest revenue-generating segment in 2015, followed by electrical & electronics and consumer products. This segment is estimated to grow at a CAGR of 7.0%. However, packaging is expected to grow at the highest CAGR of 7.3%. Automotive generated maximum revenue owing to the usage of engineered polymer composites and plastics in a wide range of applications. Engineering plastics are the second most common class of automotive materials after ferrous metals and alloys. With increased emphasis on decreasing the weight of the car, improving fuel efficiency, and regulating emissions, engineering plastics are replacing several other materials.
COUNTRY OVERVIEW:
The German engineering plastics market accounted for nearly 32% of the European engineering plastics market in 2015. In 2015, BASF announced the expansion of compounding capacities for engineering plastics in Europe. From 2017, it will be possible to additionally produce up to 70,000 metric tons per year of Ultramid (PA) and Ultradur (PBT) at the Schwarzheide site, Germany.
Learn More at : https://www.alliedmarketresearch.com/engineering-plastics-market
Major players in the engineering plastics segment have adopted expansion, product development, and product launch as their key development strategies. Important players operating in the market include BASF SE (Germany), LG Chem (South Korea), Sabic Innovative Plastics (Saudi Arabia), Solvay SA (Belgium), Evonik Industries AG (Germany), Arkema SA (France), E. I. du Pont de Nemours and Company (U.S.), Royal DSM NV (Netherlands), Lanxess AG (Germany), and Bayer AG (Germany).
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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