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Applications and Regional Insights during the Forecasted Period 2020-2030: Engineering Plastics Market
Prophecy Market Insights
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Driver: The engineering plastics market in the automotive & transportation end-use industry is being driven by the growing trend for lightweight vehicles, expanding demand for connected vehicles, and growing awareness regarding the decrease of vehicular emissions. Automobile manufacturers are concentrating on improving fuel economy as a result of government laws and worries about fuel efficiency standards, as well as consumer preferences for vehicles with high gas mileage. Due to their advantageous features, such as excellent heat resistance, engineering plastics are also employed in electrical components of hybrid electric vehicles.
Restrain: The COVID-19 epidemic has crippled the market, causing enormous supply chain disruptions due to lockdowns, social distances, and trade prohibitions. Other polymers, especially in lower-end engineering resins, are posing a serious threat to engineering plastics materials. The market's growth is projected to be limited by the fluctuating price of crude oil and regulatory hurdles related to CO2 emissions.
Key Highlights:
• In May 2019 Tenac - C Z4520 polyacetal resin, an engineering plastic of Asahi Kasei, get certified as eco-friendly green material by Automotive Technology & Research Center. This certification was presented at a ceremony during the 2019 China Automotive Materials (Xiqing) International Forum on March 27, 2019, in Tianjin, China.
• February 1, 2017, Asahi Kasei Launches Engineering Plastics Technical Center in Europe. That is aim to focus to expand its European automotive-related business.
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Key Market Insights from the report:
The global engineering plastics market has been segmented based on Hardware, By End-user Industry, and region.
• By Type global engineering plastics market is classified into Polycarbonate, Polyamide, ABS, PET & PBT, POM, Fluoropolymers.
• By End-Use Industry, the market is classified into automotive & transport, electrical & electronics, industrial & machinery, packaging, consumer appliances.
• By Region, Asia Pacific is expected to show the highest CAGR over the forecast period. Due to the increasing demand from countries such as China, Japan, and India. This is an attribute to the growth in the automotive and electrical & electronics industries.
Competitive Landscape & their strategies:
The prominent player operating in the global engineering plastics market involves includes A. Schulman Inc., AdvanSix Inc., Arkema Group, Asahi Kasei Corporation, BASF SE, Celanese Corporation, Chi Mei Corporation, Covestro AG, Daicel Corporation, and DuPont de Nemours, Inc. The key players in this market are mainly focusing on merger and acquisition strategy.
Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market.
Related Reports:
Global Bio-Polyamide Market:
https://www.prophecymarketinsights.com/market_insight/Global-BioPolyamide-Market-By-Product-548
Vietnam Plastic Market:
https://www.prophecymarketinsights.com/market_insight/Vietnam-Plastic-Market-4195
About Report:
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Explore Extensive Coverage of Prophecy Market Insights Healthcare Industry:
Key questions answered in the report:
• What will the market growth rate of Engineering Plastics Market in 2026?
• What are the key factors driving the global Engineering Plastics Market?
• Who are the key manufacturers in Engineering Plastics Market space?
• What are the market opportunities, market risk and market overview of the Global Engineering Plastics market?
• What are sales, revenue, and price analysis of top manufacturers of Engineering Plastics Global market?
• What are sales, revenue, and price analysis by types and applications of Engineering Plastics Market?
• What are sales, revenue, and price analysis by regions of Engineering Plastics market?
To know more
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About Prophecy Market Insights
Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.
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