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Engineering Plastics Market Global Industry Analysis, size, share and Forecast 2013 - 2019
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Engineering plastics include poly-oxymethylene plastic (POM), poly-tetrafluoroethylene (PTFE), poly-phenylene sulfide (PPS), polyamides (PA), Acrylonitrile-butadiene styrene (ABS), poly-carbonates (PC), poly-butylene terephthalate (PBT), poly-etheretherketone (PEEK), poly-ethylene terephthalate (PET), poly(p-phenylene) oxide (PPO), poly-sulphone (PSU), poly-etherketone (PEK) and polyimides. As a result of wide range of properties, engineering plastics have a diverse range of applications in automotives, electrical, electronics, packaging, medical, construction, consumer appliances, transportation and other industrial segments. Asia Pacific is most dominating market for engineering plastics; however Europe, North America and RoW are other geographic market segments.
One of the major driving factors for this industry is growth of the automotive industry. Because of its somewhat similar properties to metals and light weight, these materials have been rapidly replacing some metal components in automotive as well as industrial machineries and help in weight reduction. Growth in demand of electronics and electrical appliances has been another driving factor. However, the higher cost of these materials may restrict the market for engineering plastics. Use of engineering plastics in aerospace industry for spaceship building could be one of the future trends.
BASF SE, Bayer Materialscience, Chi Mei Corporation, TICONA Engineering Polymers, Teijin Limited, SABIC Innovative Plastics US LLC., Eastman Chemical Company, Royal DSM NV, Wintech Polymer Ltd. and Evonik Degussa GmbH are some of the key manufacturer for engineering plastics.
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