United States Engineering Plastics Market 2025 | Growth Drivers, Key Players & Investment Opportunities

Market Size and Growth

The global engineering plastics market reached US$ 76490.64 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 120328.11 million by 2031. The market is expected to exhibit a CAGR of 6.87% during the forecast period (2024-2031).

Key Development:

United States: Recent Industry Developments

✅ In September 2025, Canadian plastics manufacturer Lefko selected New Braunfels, Texas, for its new U.S. headquarters. The facility, expanding to over 70,000 square feet, will produce blow-molded plastic products for automotive, medical, and recreational industries, creating over 150 full-time jobs with average wages above $67,000.

✅ In July 2025, the U.S. plastics industry experienced a significant surge in mergers and acquisitions, with capital investment increasing by 193.8% in Q1 2025 compared to Q4 2024, reaching $9.4 billion. This surge indicates a strong momentum in the plastics sector despite tariff uncertainties.

✅ In May 2025, PPG launched EnviroLuxe Plus powder coatings containing up to 18% post-industrial recycled plastic (rPET) and free from PFAS. These coatings offer up to 30% lower carbon footprint while maintaining durability and aesthetics, meeting the demand for high-performance, sustainable polymer solutions in industrial and consumer engineering applications.

Japan: Recent Industry Developments

✅ In September 2025, Japan's industry ministry, supported by NEDO, is backing the development of biodegradable plastics that decompose into water and carbon dioxide by the action of microorganisms in the sea. A five-year plan starting this fiscal year calls for the development of a new material that can be used for several years in water and then slowly decomposes over time.

✅ In July 2025, ITOCHU Corporation announced the launch of a pilot project for cellulose-based engineering plastics, aiming to promote a circular economy. The project has been selected for the FY2025 Cellulose-based Circular Economy Business Demonstration Project by Shizuoka Prefecture, reflecting a commitment to sustainable material development.

✅ In June 2025, Kaneka Corporation developed a technology that creates biodegradable plastic by feeding CO2 to bacteria. The company is now engaged in production demonstrations as a step toward mass production, aiming to address global plastic waste issues.

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Recent Mergers and acquisitions:

United States: Recent M&A Activity in Engineering Plastics

✅ In July 2025, Techno Plastics Industries, an injection molder based in Añasco, Puerto Rico, was acquired by an undisclosed buyer. This transaction reflects the ongoing consolidation in the U.S. plastics industry, particularly among custom and proprietary injection molders.

✅ In June 2025, Adkev, a U.S.-based manufacturer of engineered plastic components, acquired Winzeler Gear, a company specializing in precision gears and related products. This acquisition aims to expand Adkev's product offerings and enhance its capabilities in the automotive sector.

✅ In May 2025, F&M Tool & Plastics, a provider of injection molding and tooling services, was acquired by an undisclosed buyer. The acquisition is expected to strengthen the buyer's position in the Midwest's engineering plastics market.

Japan: Recent M&A Activity in Engineering Plastics

✅ In March 2025, Nippon Paint Holdings, a leading Japanese paint manufacturer, acquired AOC Resins, a Tennessee-based producer and supplier of resins and specialty materials used in the manufacturing of composite parts. This $4.4 billion acquisition enhances Nippon Paint's portfolio in the engineering plastics sector.

✅ In January 2025, ITOCHU Corporation, a major Japanese trading company, announced the acquisition of a significant stake in a Japanese engineering plastics manufacturer. The deal aims to bolster ITOCHU's presence in the sustainable materials market.

Key Players:

=> BASF SE, Covestro, Celanese Corporation, Du Pont, Solvay SA, LG Chem, Sabic, Evonik Industries AG, Lanxess AG, and Mitsubishi Engineering-Plastics Corporation.

Growth Forecast Projected:

The Global Engineering Plastics Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Engineering Plastics Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Type: Polyethylene (Low-Density Polyethylene (LDPE), Medium-Density Polyethylene (MDPE), High-Density Polyethylene (HDPE)), Polycarbonate, Polyester, Polypropylene, Polyurethane, Polyvinylchloride (PVC), Polyamides, Acrylonitrile Butadiene Styrene (ABS), Nylon, Polyethylene terephthalate (PET)

➥ By End-User Industry: Automotive, Consumer Electronics, Electrical and Electronics, Packaging Industry, Medical Applications, Construction Industry, Machine Engineering

Regional Analysis for Engineering Plastics Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Engineering Plastics producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Engineering Plastics revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Engineering Plastics Market?

A: In 2022, the Engineering Plastics Market was valued at US$ 76490.64 million, reflecting its strong industry presence.

Q2: How large is the Engineering Plastics Market expected to be by 2031?

A: By 2031, industry forecasts suggest the Engineering Plastics Market will grow to around US$ 120328.11 million, demonstrating significant expansion.

Q3: What is the growth rate of the Engineering Plastics Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 6.87% during the forecast period from 2024 to 2031.

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