Evolving Market Trends In The Engineering Plastics Industry: Introduction Of Bio-Based And Recycled-Based Materials In Engineering Plastics Market

The Engineering Plastics Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Engineering Plastics Market Size During the Forecast Period?
The market size of engineering plastics has experienced significant growth in recent years. There is a projection of an increase from $112.68 billion in 2024 to $122.98 billion in 2025, with a compound annual growth rate (CAGR) of 9.1%. The noteworthy growth in the previous period can be accredited to factors such as the replacement of traditional materials, surge in electrical and electronics industry, enhanced emphasis on sustainability, growth in construction sector, and the rise of the medical device industry.

The market size for engineering plastics is anticipated to experience accelerated expansion over the next few years. It is projected to reach $180.35 billion in 2029, growing at a compound annual growth rate (CAGR) of 10.0%. The expected growth during the forecast period is due to factors such as 3D printing and additive manufacturing, infrastructure upgrading, the use in aerospace, the evolution of the consumer electronics industry, and circular economy efforts. Notable trends during the forecast period are high-performance thermoplastics, the miniaturization of electronics, intelligent and functional materials, adaptation and bespoke solutions, as well as health and safety standards adherence.

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What Are the High-Growth Segments in the Engineering Plastics Market?
The engineering plastics market covered in this report is segmented -

1) By Type: Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Thermoplastic Polyester, Polyacetal, Fluoropolymer, Other Types
2) By Performance Parameter: High Performance, Low Performance
3) By End-Use Industry: Automotive And Transportation, Consumer Appliances, Electrical And Electronics, Industrial And Machinery, Packaging, Other End-Use Industries

Subsegments:
1) By Acrylonitrile Butadiene Styrene (ABS): General Purpose ABS, High-Impact ABS, Flame-Retardant ABS
2) By Polyamide (Nylon): Nylon 6, Nylon 66, Other Nylon Grades
3) By Polycarbonate (PC): General Purpose Polycarbonate, Optical Grade Polycarbonate, Impact-Resistant Polycarbonate
4) By Thermoplastic Polyester (PET, PBT): Polyethylene Terephthalate (PET), Polybutylene Terephthalate (PBT)
5) By Polyacetal (POM): Homopolymer Polyacetal, Copolymer Polyacetal
6) By Fluoropolymer: Polytetrafluoroethylene (PTFE), Fluorinated Ethylene Propylene (FEP), Perfluoroalkoxy Alkane (PFA)
7) By Other Types: ket*one (PEEK), Polyphenylene Sulfide (PPS), Other Specialty Engineering Plastics

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What Key Drivers Are Expected to Influence Future Engineering Plastics Market Growth?
The expansion of the electrical and electronics sectors is set to fuel the development of the engineering plastics market in the future. Products such as consumer electronics, electrical equipment, and electrical components are produced by the electronics industry. These products require engineering plastics in their manufacturing processes, including items like computers, communication devices, switchgear, storage batteries, and switchboards. The Ministry of Electronics and Information Technology, a government agency based in India, says that the electronics manufacturing industry is set to expand from USD 75 billion in 2022 to USD 300 billion by 2026. Hence, the increasing trajectory of growth in the electronics and electrical industries is pushing the demand for the engineering plastics market.

Which Companies Hold the Largest Share Across Different Engineering Plastics Market Segments?
Major companies operating in the engineering plastics market include Covestro AG, DuPont de Nemours Inc., LG Chem Ltd., Evonik Industries AG, Mitsubishi Chemical Engineering Corporation, BASF SE, Celanese Corporation, Solvay S.A., Dow Chemical Company, Saudi Basic Industries Corporation, LANXESS AG, Asahi Kasei Corporation, DSM Engineering Plastics, Polyplastics Co. Ltd., Teijin Limited, Toray Industries Inc., Arkema S.A., Chi Mei Corporation, Daicel Corporation, Eastman Chemical Company, EMS-Chemie Holding AG, Formosa Plastics Corporation, Huntsman Corporation, INEOS Styrolution Group GmbH, JSR Corporation, KOLON Industries Inc., Kuraray Co. Ltd., Mitsui Chemicals Inc, Nilit Ltd., Radici Group, RTP Company, Sumitomo Chemical Co. Ltd., Techno Polymer Co. Ltd., Tosoh Corporation, Ube Industries Ltd., Victrex plc, Zhejiang NHU Special Materials Co. Ltd.

What Trends Are Driving Growth in The Engineering Plastics Market?
The engineering plastics market has seen a rising trend towards the use of bio-based or recycled-based materials. Companies majoring in the engineering plastics market are channeling their efforts into the creation of such materials as replacements for plastic solutions, intending to consolidate their market position. For instance, Toray Industries, Inc., a Japan-based firm that manufactures engineering plastics like PPS, nylon, and PBT, created the world's first fully bio-based adipic acid (a nylon 66 component) in August 2022. This breakthrough was achieved using sugars from non-edible feedstock, integrating their unique microbial fermentation technology and chemical purification technology that employs separation membranes.

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What Are the Emerging Geographies for The Engineering Plastics Market Growth?
Asia-Pacific was the largest region in the engineering plastics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the engineering plastics market during the forecast period. The regions covered in the engineering plastics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Engineering Plastics Market?
2. What is the CAGR expected in the Engineering Plastics Market?
3. What Are the Key Innovations Transforming the Engineering Plastics Industry?
4. Which Region Is Leading the Engineering Plastics Market?

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