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Engineered Plastics Market

Engineered Plastics Market Size and Segment By type (Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Thermoplastic Polyester, Polyacetal, Fluoropolymer, Others) By end-use industries (Automotive & Transportation, Consumer Appliances, Electrical & Electronics, Industrial & Machinery, Packaging, Others), by Regions and Global Forecast 2022-2028

Report Id: SNS/C&M/2660 | August 2022 | Region: Global | 135 Pages

Report Scope & Overview:

Engineered Plastics Market Size was valued at USD 102.6 billion in 2021, and is expected to reach USD 152.2 billion by 2028, and grow at a CAGR of 5.8 % over the forecast period 2022-2028.

Engineering plastics can be thought of as a class of plastic materials with improved mechanical and thermal capabilities. Engineering plastics are a kind of plastic that comprises polystyrene, PVC, polypropylene, and polyethylene. These materials are renowned for their unique qualities, which include greater impact resistance, high abrasion, and wear and fatigue resistance. Engineering plastics are produced for specialised uses, which accounts for their high market prices.

Engineered Plastics Market Revenue Graph

Market Dynamics:

Drivers:

  • Due to the replacement of metal parts by engineering plastics, the need for engineering plastics is quickly increasing worldwide.

  • expansion of the consumer and appliance industries

  • expansion of end-use industries

Restraints:

  • Fluctuation in the cost of raw materials

  • Competing polymers are becoming more prevalent.

Opportunity:

  • Growing advancements in bio- or recycled-based sustainable engineering plastics

  • Economically appealing market

Challenge:

  • Plastic usage and environmental danger

Impact of Covid-19:

The engineering plastics industry has been negatively impacted by the global coronavirus pandemic that suddenly broke out in the years 2019–2020. Due to the hasty measures made to limit the pandemic's spread and the subsequent rise in fatalities that are damaging the surrounding population's healthcare and immune systems, the ongoing epidemic has caused significant challenges and devastation in the worldwide market environment. The epidemic has been causing problems, and as a result, governments around the world have been adopting precautions like functional limits and stringent lockdowns, which are further aggravating the situation for the engineering plastic market size during the projected period that will conclude in 2030.

Due to the shifting consumer trends and tastes, multinational corporations are searching for possibilities to expand, which is made feasible by increased funding and investments. The businesses are welcoming mergers and acquisitions and other forms of expansion that will boost the market share of engineering plastic over the current forecast period, which will conclude in 2028.

Key Players:

SABIC (Saudi Arabia), LANXESS AG (Germany)Covestro AG (Germany), BASF SE (Germany),  Mitsubishi Chemical Holdings Corporation (Japan),  Celanese Corporation (US), Evonik Industries AG (Germany), The Dow Chemical Company (US), Solvay S.A. (Belgium), LG Chem Ltd., and other players.

Market Segment:

By Type

  • Acrylonitrile Butadiene Styrene

  • Polyamide

  • Polycarbonate

  • Thermoplastic Polyester

  • Polyacetal

  • Fluoropolymer

  • Others

By end-use industries

  • Automotive & Transportation

  • Consumer Appliances

  • Electrical & Electronics

  • Industrial & Machinery

  • Packaging

  • Others

Engineered Plastics Market Segment Pie Chart

Regional Analysis:

Because of the expanding domestic demand, the Asia-Pacific is anticipated to lead the global engineering plastic market. Engineering plastic market demand has increased over the current forecast period, which ends in 2028, as a result of rapid industrialization and rising demand from sectors including chemicals, packaging, power generation, and automobiles.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

 

Engineered Plastics Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 102.6 Billion
Market Size by 2028 US$ 152.2 Billion
CAGR CAGR of 5.8% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By type (Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Thermoplastic Polyester, Polyacetal, Fluoropolymer, Others)
• By end-use industries (Automotive & Transportation, Consumer Appliances, Electrical & Electronics, Industrial & Machinery, Packaging, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles SABIC (Saudi Arabia), LANXESS AG (Germany)Covestro AG (Germany), BASF SE (Germany),  Mitsubishi Chemical Holdings Corporation (Japan),  Celanese Corporation (US), Evonik Industries AG (Germany), The Dow Chemical Company (US), Solvay S.A. (Belgium), LG Chem Ltd., and other players.
Key Drivers • expansion of the consumer and appliance industries
• expansion of end-use industries
RESTRAINTS • Fluctuation in the cost of raw materials.
• Competing polymers are becoming more prevalent.


Frequently Asked Questions (FAQ) :

Ans: Engineered Plastics Market Size was valued at USD 102.6 billion in 2021, and expected to reach USD 152.2 billion by 2028, and grow at a CAGR of 5.8 % over the forecast period 2022-2028.

Ans: Due to the shifting consumer trends and tastes, multinational corporations are searching for possibilities to expand, which is made feasible by increased funding and investments. The businesses are welcoming mergers and acquisitions and other forms of expansion that will boost the market share of engineering plastic over the current forecast period, which will conclude in 2028.

Ans: SABIC (Saudi Arabia), LANXESS AG (Germany)Covestro AG (Germany), BASF SE (Germany), Mitsubishi Chemical Holdings Corporation (Japan),  Celanese Corporation (US), Evonik Industries AG (Germany), The Dow Chemical Company (US), Solvay S.A. (Belgium), LG Chem Ltd. (South Korea) are the major key players of Engineered Plastics Market.

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

Ans: Primary or secondary type of research done by this reports.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8.Engineered Plastics Market Segment, By type

8.1 Acrylonitrile Butadiene Styrene

8.2 Polyamide

8.3 Polycarbonate

8.4 Thermoplastic Polyester

8.5 Polyacetal

8.6 Fluoropolymer

8.7 Others

 

9.Engineered Plastics Market Segment, By end-use industries

9.1 Automotive & Transportation

9.2 Consumer Appliances

9.3 Electrical & Electronics

9.4 Industrial & Machinery

9.5 Packaging

9.6 Others

 

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

 

11. Company Profile

11.1 SABIC (Saudi Arabia)

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 LANXESS AG (Germany)

11.3 Covestro AG (Germany)

11.4 BASF SE (Germany)

11.5  Mitsubishi Chemical Holdings Corporation (Japan) 

11.6 Celanese Corporation (US)

11.7 Evonik Industries AG (Germany)

11.8 The Dow Chemical Company (US)

11.9 Solvay S.A. (Belgium)

11.10 LG Chem Ltd. (South Korea)

 

12.Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share analysis

12.3 Recent Developments

 

13. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

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Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

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