Germany Engineering Plastics Market 2022 Latest Trends, Demands and Business Outlook- 3M, Arkema SA, Ashland Inc., BASF SE, Celanese Corporation, Chemtura Corporation, Chevron Phillips Chemical

The market research report on “Germany Engineering Plastics Market 2022” provides meticulous analysis for changing competitive dynamics and a dynamic perspective on different factors driving or restraining industry growth. The Germany Engineering Plastics industry report provides necessary and auxiliary data which is represented in pie-charts, tables, systematic overview, and product diagrams. The Germany Engineering Plastics Report also determine the market conditions including the product price, specification, research methodologies, financial and technical details which will help to expand the market operations. The Market research report provides the latest industry data and industry future trends, allowing to identify the products and end users driving revenue growth and profitability.               

The Germany engineering plastics market was valued at around USD 90 billion in 2020, and the market is projected to register a CAGR of more than 6% during the forecast period (2021-2026).

The Germany Engineering Plastics market is highly competitive and consists of a number of major players. Companies like 3M, Arkema SA, Ashland Inc., BASF SE, Celanese Corporation, Chemtura Corporation, Chevron Phillips Chemical, Covestro AG, DuPont, Eastman Chemical Company, Evon-ik Industries AG, LANXESS, LG Chem, Lyondellbasell, Nova Chemicals Corporation, Polynt, PolyOne Corporation, Rochling Group, SABIC, Solvay Amongst Others.

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Mrket Overview:

Engineering plastics are a group of plastic materials that have better mechanical and thermal properties than the more widely used commodity plastics (such as polystyrene, PVC, polypropylene, and polyethylene). The engineering plastics market is segmented by product type, application, and geography. By product type, the market is segmented into fluoropolymers, polycarbonate, polyethylene terephthalate, polybutylene terephthalate, polyacetal/ polyoxymethylene, polymethyl methacrylate, polyphenylene oxide, polyphenylene sulfide, styrene copolymers, liquid crystal polymers, polyether ether ke-tone, polyimides, and polyamides. By application, the market is segmented into automotive and transportation, building and construction, consumer goods, electrical and electronics, industrial and machinery, packaging, and medical. 

Regional Insights:

Asia-Pacific accounted for the largest share of the market due to the increased consumption of engineering plastics in various industries, including automotive, packaging, building, and construction, in rapidly growing countries such as China, India, and Japan. China alone consuming a share of around 35% of the overall market.

China is the largest producer and consumer of engineering plastics in the region. The abundant availability of raw materials and low production costs have been supporting the production growth of the country's engineering plastics market for the past few years.

Also, China is one of the largest global consumers of PET. The abundant availability of raw materials and the low cost of production have been supporting the production growth of engineering plastics, such as PET, in the country for the past few years.

China is one of the major countries in Asia-Pacific with ample construction activities, with the industrial and construction sectors accounting for approximately ~50% of the GDP.

Key Developments:

In February 2020, DSM was futureproofing and expanding the capacity of its high-performance materials compounding plant in Evansville, IN. The project will help to meet increased regional demand for materials such as Akulon polyamide (PA) 6 and 66, Arnite PET/PBT, Arnitel thermoplastic copolyester (TPC), EcoPaXX PA 410, ForTii PA 4T/PPA, and Stanyl PA 46.

In May 2019, BASF began operations at its expanded compounding plant in Altamira, Mexico. With an increased capacity of up to 15,000 metric ton per year, the company is providing local production of its Ultradur (PBT: polybutylene terephthalate) and Ultramid (PA: polyamide) product lines. This expansion addresses the increasing global demand for engineering plastics and supports the growing market in Mexico.

Market Segmentation:

Segment by Type, the Super Engineering Plastics market is segmented into
Polyphenylene Sulfide (PPS)
Polyimide (PI)
Polysulfone (PSU)
Liquid-Crystal Polymer (LCP)
Polyetheretherke-tone (PEEK)
Others

Segment by Downstream Industry, the Super Engineering Plastics market is segmented into
Automotive
Electrical and Electronic
Aerospace & Defense
Machinery & Equipment
Medical Devices
Other

Key Market Trends:

Polyethylene Terephthalate (PET) to Drive the Market Growth
- Polyethylene terephthalate (PET) is a thermoplastic polyester engineering resin. PET resins are known for their excellent melt flow characteristics, close molding tolerances, and high productivity from multi-cavity molds. Due to its broad mechanical and electrical properties, PET is often used to replace metals in motor housings, switches, sensors, and other electrical applications.
- PET and polyolefins are the most widely used materials in the plastic packaging industry. Some of the major properties of PET as a packaging material are recyclability, strength, and versatility, which drive the demand for these products.
- These products mainly include take-out containers, frozen foods, carbonated drinks and juices, ketchup, bottled water, jars, and baked good containers. They are also used in the food industry for clamshells, deli containers, as well as microwave food trays.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a  and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools:  Germany Engineering Plastics Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Finally, Germany Engineering Plastics Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

Key points in this report:

– The market estimate (ME) sheet in Excel format

– Report customization as per the client’s requirements

– 3 months of analyst suppor

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