Asia-Pacific Engineering Plastics Market Analysis, 2024-2030

Engineering Plastic is a type of plastic that has better thermal characteristics and mechanical properties when compared to other commodity plastic. There are many types of Engineering Plastics. Some of the popular ones are acrylonitrile butadiene styrene (ABS), nylon 6, polycarbonates (PC), polyethylene terephthalate (PET) and polytetrafluoroethylene (Teflon).

Engineering plastics are used especially in the automotive industry, transport industry, industrial and machinery items, packaging and consumer appliances. The most popular and the widely used type is the acrylonitrile butadiene styrene (ABS). This type provides heat and chemical resistance. The demand for the ABS type of engineering plastic is witnessed in the area of consumer appliances such as electronic gadgets and electrical appliances.

The report on Asia-Pacific engineering plastics market presents the crux of over 250 hours of synergized efforts of analysts, industry experts, and academician to assess the present market scenario. The findings are substantiated by a thorough analysis of the engineering plastics industry value chain coupled with exhaustive secondary and primary research.

As per the report, the market for engineering plastics in Asia-Pacific was around XX.XX million tons in 2017. The market is expected to grow at a CAGR of X.XX%. PET were the dominating product type segment with a 51% share in the engineering plastics’ product. It is also predicted that PET will remain to dominate the market in the forecasted period of time.

The increasing usage of engineering plastics in the manufacturing industries of Asia is the reason why the market is expected to rise slightly higher in the aforementioned time frame. Countries like India and China have contributed to the market to make the Asia-Pacific region dominate the engineering plastics market share with over 50% in the year 2017. China is the largest consumer of engineering plastics. There, the demand had come from automotive and electronic & electrical industries.

Although the engineering plastics market has been spread across the globe covering regions such as North America, Latin America, Europe, Africa and Saudi Arabia, the Asia-Pacific region has managed to top the market, and it is expected to continue so with America and Europe following closely behind.

The demand for engineering plastics is triggered by industrialization, demand from chemical industries, industries relating to power generation, automobile manufacturing, packaging, electrical and electronics and the increasing government spending on infrastructure activities. With the increased interest in decreasing the weight of the car, mastering fuel efficiency, and decreasing emissions, engineering plastics are replacing several other materials.

Some of the major players in the Engineering Plastics market are BASF SE, Covestro, Mitsubishi Engineering-Plastics Corporation, LANXESS, Celanese Corporation and LG Chem.

Our Approach

At Market Krystal, we believe in a systematic approach towards the problem at hand. The process begins with the identification of a challenge/opportunity, followed by an exhaustive brainstorming by in-house and consulting experts. Based on the outcomes, an in-depth research (primary & secondary) is carried out to collect industry insights. The data is then analysed by a gamut of techniques (Statistics, Machine Learning, Econometrics, and Analytics) to derive inter-disciplinary deductions that are executable and result in value creation.

Hence, the engineering plastics market has been divided based on types as PC, ABS, nylon-6, PET, Teflon and similar other. All types of engineering plastics were mapped for different end use sectors in different countries within Asia-Pacific region. Findings were later integrated for a consolidated report.

Market Krystal ensured a holistic approach by involving experts from diverse functionalities and locations (Fig1). This allowed a 3600 view of the industry dynamic.

Figure 1 Primary research breakdown

Contents of the report:

• Insight on the current industry dynamics
• Estimation of the current market size in terms of value and volume
• Market breakup based on types of engineering plastics, end-use and geography
• Substantiated market forecasting for the next five years
• Detailed analysis of the key companies operating across different nodes of engineering plastics industry value chain