Press release
Engineering Plastics Market | Arkema Group, Asahi Kasei Corporation, BASF SE, Celanese Corporation
Engineering Plastics Market
The global engineering plastics market is projected to reach around US$ 149.3 billion by the end of 2027, in terms of revenue, growing at CAGR of 8% during the forecast period (2019-2027).
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Market Taxonomy
Global Engineering Plastics Market, By Product Type:
Polyamides (PA)
Polycarbonates (PC)
Acrylonitrile butadiene styrene (ABS) and Styrene Acrylonitrile (SAN)
Polyoxymethylene (POM)
Polybutylene terephthalate (PBT)
Fluoropolymers
Polymethyl methacrylate (PMMA)
High-performance engineering plastics (include LCP, PEEK, PEI, PPO, PES, PSU)
Others (includes UHMWPE/UHMW, TPI alloys, and blends, etc.)
Global Engineering Plastics Market, By Application:
Automotive and Transportation
Interiors and Safety
Engine and Mechanical
Exteriors and Structural
Others (include fuel systems, electrical and electronics)
Electrical and Electronics
Consumer Appliances
Others (include lighting, optical media, wire and cable, electronic components)
Electronic Products
Construction
Glazing and Sky Lighting
Pipes and Fittings
Others (Wall outlets, building bricks)
Medical
Diagnostic and Drug Delivery Systems
Medical Devices
Others (include surgical instruments, orthopedic implant, and orthopedics)
Industrial and Machinery
Packaging
Others
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The rising demand for engineering plastic for the production of medical devices is expected to propel the market growth. Engineering plastic is widely used for the manufacturing of medical devices due to their superior physical and chemical properties such as lightweight, flexibility, ease of processing, non-ferrous properties, and excellent biocompatibility. They are used in the production of a wide range of medical devices, surgical instruments, diagnostic & drug delivery systems, orthopedic implants, and orthopedics.
Researchers around the globe are focusing on developing advanced technologies to ease the production of engineering plastic this will favor the market growth of engineering plastic over the forecast period. For instance, in November 2019, new innovation developed by a team of researchers based in Japan. They designed a new method to improve the wear and corrosion resistance of the machines that produce super engineering plastics.
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