Established Markets of Automotive, Electronics and Appliances to Drive Engineering Plastics Demand to Reach 34 Million Tonnes by 2029 – Market Research Report (2023-2029) by Industry Experts, Inc.
Industry Experts, Inc. released the 2024 version of an in-depth global market research report “Engineering Plastics – A Global Market Overview”. As per this new report, Engineering plastics sales volumes rebounded to normal growth in 2023 despite general economic uncertainty. Future growth of the engineering plastics market is mainly driven by the established markets of automotive & transportation, electrical & electronics, and appliances.
The engineering plastics sector plays a pivotal role in various industries, spanning automotive, electronics, appliances, construction, healthcare, and more. Its robust growth is fueled by the relentless pursuit of high-performance materials that offer durability, versatility, and enhanced mechanical properties. Unlike commodity plastics, which are used for general purposes, engineering plastics are designed for specific applications that demand enhanced performance in challenging environments.
Global volume consumption of engineering plastics, estimated at 27.3 million metric tons in 2023, is projected to reach 34.3 million metric tons by 2029 growing at a CAGR of 3.9% between 2023 and 2029. Global volume demand for engineering plastics recovered sharply in 2021, after a slump of 3% YoY in 2020 due to reduction in demand from automotive & transportation applications amid the impact of coronavirus pandemic, and continued the momentum through 2023, albeit at a low pace amid slowdown in global economy specifically in the European region.
Engineering Plastics market covered in this report include Styrene Copolymers (Acrylonitrile Butadiene Styrene (ABS) and Styrene Acrylonitrile (SAN)), Polycarbonate (PC), Polyamides (PA6, PA66), Polymethyl Methacrylate (PMMA), Polyacetal/Polyoxymethylene (POM), Polybutylene Terephthalate (PBT) and Modified Polyphenylene Ether / Polyphenylene Oxide (mPPE/PPO). The report also explores the market for end-use applications of Engineering Plastics comprising Automotive & Transportation, Electrical & Electronics, Building & Construction, Appliances, Consumer Goods and Others (including medical, industrial and packaging among other smaller applications).
The report reviews, analyzes and projects the Engineering Plastics market for global and the regional markets including North America, Europe, Asia-Pacific, South America and Rest of World for the period 2019-2029 in terms of volumes in metric tons and value in US$. These regional markets further analyzed for 18 independent countries across North America – The United States, Canada and Mexico; Europe – France, Germany, Italy, the Netherlands, Russia, Spain and the United Kingdom; Asia-Pacific – China, India, Japan, South Korea, Taiwan and Thailand; and South America – Argentina and Brazil.
This 535 page study includes 349 charts (including a data table), supported with a meaningful and easy to understand graphical presentation of the market. The statistical tables represent the data for the global market by geographic region and end-use application. This report profiles 101 key global players and also provides a listing of the companies engaged in the manufacturing, compounding and supply of engineering plastics. The global list of companies covers addresses, contact numbers and the website addresses of 433 companies.
California, USA based Industry Experts, Inc. is a multi-industry focused business information provider.
For more details, please visit: https://industry-experts.com/verticals/chemicals-and-materials/engineering-plastics-a-global-market-overview
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