Engineering Plastic Compounds Market
Engineering Plastic Compounds Market (Compound Type - Polycarbonate (PC) Compound, Polyamide (PA) Compound, Polymethyl Methacrylate (PMMA) Compound, Polyacetal/Polyoxymethylene (POM) Compound, PET Compound, PBT Compound, Polyphenylene Oxide (PPO/PPE Blends) Compound, Fluoropolymer (PTFE and Other FPs) Compound, Polyphenylene Sulfide (PPS) Compound, Acrylonitrile Butadiene Styrene (ABS) Compound, Styrene-Acrylonitrile (SAN) Compound, Thermoplastic Elastomer Compound (TPE-s: Styrenic Block Copolymers, TPE-o: Thermoplastic Polyolefin Elastomers, TPE-v: Thermoplastic Vulcanizates, TPE-u: Thermoplastic Polyurethanes, TPE-e: Thermoplastic Copolyesters, TPE-a: Thermoplastic Polyamides); End use Industry - Automotive & Transportation, Aerospace, Electrical & Electronics, Building & Construction, Consumer Goods & Appliances, Industrial Applications, Medical) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Press Release :
Engineering Plastic Compounds Market - Snapshot
Engineering plastics are a subset of thermoplastics that are used in high-performance applications. They have the ability to outperform commercial materials, such as wood, metal, or thermoplastics, in one or more areas of application. Engineering plastics are blended with additives and fillers such as antioxidants, antistatic agents, blowing agents, colorants, coupling agents, curing agents, heat stabilizers, UV stabilizers, flame retardants, or nucleating agents to produce engineering plastic compounds. These engineering plastic compounds offer superior physical properties that augment their performance for various automotive, electronics, industrial, medical, and consumer goods applications. Engineering plastic compounds exhibit exceptional properties such as heat resistance, chemical resistance, impact, flame retardancy, and mechanical strength. The global engineering plastic compounds market is expected to expand at a significant pace during the forecast period, driven by increase in production of automotive components and electronic devices. The engineering plastic compounds market was valued at around US$ 190.0 Bn in 2017 and is projected to expand at a CAGR of around 8.0% during the forecast period.
Engineering plastic compounds provide attributes such as self-lubrication, transparency, and cost-effectiveness in the fabrication process. Polyamide (PA) and Polyacetal/Polyoxymethylene (POM) compounds show self-lubricating properties that are favorable for automotive applications. Polyamide (PA) compounds are widely used in oil skimmers, cross gear rails, air inlet manifolds, impact-sensitive engine covers, automotive door closures, under bonnet mechanical parts, connecting rods, hoses for automotive use, fan blades, etc. Polyacetal/Polyoxymethylene (POM) compounds have their applications in fuel storage modules, gearwheels, speaker grills, gears, bearing boxes and bushes, blower fans, ventilation fans and pump parts, etc. Acrylonitrile Butadiene Styrene (ABS) and Polycarbonate (PC) compounds display high rigidity and dimensional stability with outstanding processability in electronic applications. Acrylonitrile Butadiene Styrene (ABS) and Polycarbonate (PC) compounds are used in switch frames, instrument holders, housing, casings, etc. Advancements in material properties of engineering plastic compounds in order to make them multifunctional are expected to drive the global engineering plastic compounds market during the forecast period.
Reduction in the weight of automobiles results in lower carbon emissions and increase in fuel efficiency and performance of vehicles. Automotive manufacturers are compelled to reduce the weight of their vehicles due to stringent regulations against carbon emissions. Automotive manufacturers are also engaging themselves in the manufacture of electric vehicles, owing to norms imposed against fuel consumption. Engineering plastic compounds are light in weight and are replacing metal components in automotive and industrial applications. Increase in the production of light weight vehicles and rise in awareness regarding electric cars are projected to boost demand for engineering plastic compounds.
Asia Pacific is a significant region of the engineering plastic compounds market, accounting for a substantial market share. China is a major producer and consumer of engineering plastic compounds. Presence of large OEMs for automotive and electronics industries and existence of a number of small domestic plastic compound manufacturers in the region are expected to drive the engineering plastic compounds market in Asia Pacific. Relocation of manufacturing capacities of automotive components and electronic devices from the western hemisphere to East Asia is anticipated to boost demand for engineering plastic compounds. Rapid industrialization and expansion of automotive and electronics manufacturing plants in India, South Korea, Thailand, and Vietnam are projected to provide an impetus to the global engineering plastic compounds market. The engineering plastic compounds market in North America and Europe is projected to expand at a moderate pace during the forecast period.
Major players operating in the engineering plastic compounds market are Asahi Kasei Corporation, BASF SE, Celanese Corporation, Covestro AG, and RTP, These players are focusing on integrating their suppliers in order to cut down transportation costs and enhance production output. Other prominent players include AKRO-PLASTIC GmbH, Daicel Polymer Ltd., Eurostar Engineering Plastics, Formulated Polymers Limited, Ginar Technology Co. Ltd., HDC HYUNDAI EP COMPANY, KAWASAKI SANKO KASEI Co., Ltd., Ngai Hing Hong Company Limited, Piper Plastics, Inc., Polymer-Group, Polyplastics Co., Ltd., Ravago Americas, Teknor Apex, Trinseo LLC, and WITTENBURG GROUP.
Market Players Gain Promising Demand Opportunities Due to Many Advantages of Engineering Plastic Compounds
Engineering plastics refer to a thermoplastics subset that finds application in various high-performance applications. These products are gaining traction across various end-use industries owing to their ability to offer better results than commercial materials, including metal, thermoplastics, and wood. These engineering plastics are mixed with a wide range of fillers as well as additives in order to manufacture engineering plastic compounds. Antistatic agents, antioxidants, colorants, blowing agents, curing agents, coupling agents, UV stabilizers, heat stabilizers, nucleating agents, or flame retardants are some of the key additives and filled used for the production of engineering plastic compounds.
Engineering plastic compounds can deliver advanced physical properties that boost their performance for numerous electronics, automotive, medical, consumer goods, and industrial applications. Engineering plastic compounds are gathering impetus in various end-use industries such as aerospace, automotive and transportation, building and construction, electrical and electronics, industrial applications, medical, and consumer goods and appliances industry. This growth is on the back of numerous outstanding properties including chemical resistance, heat resistance, flame retardancy, impact, and mechanical strength of engineering plastic compounds. Owing to all these advantages, the vendors in the global engineering plastic compounds market are projected to gather prodigious sales opportunities in the years to come.
The recent COVID-19 pandemic is expected to show negative impact on the overall growth of the global engineering plastic compounds market in the upcoming few months. Some of the key factors for this projection include disrupted production activities as well as disturbed supply chain in the market for engineering plastic compounds due to lockdowns imposed by many nations across the globe. The key enterprises in the market for engineering plastic compounds are investing time and money to find out quickest ways to recover from the losses occurred due to COVID-19 outbreak. Owing to this factor, the engineering plastic compounds market is likely to bounce back and show promising expansion avenues in the years ahead.
Engineering Plastic Compounds Market - Overview
This report focuses on study of engineering plastic compounds at the global and regional levels. It analyzes and forecasts the market for engineering plastic compounds based on value (US$ Mn) and volume (kilo tons) from 2018 to 2026. The market has been forecast based on historical trends, and demand–supply scenario, drivers, restraints, opportunities, and expansions and developments by stakeholders across the value chain.
The report incorporates detailed value chain analysis, which provides an inclusive view of the global engineering plastic compounds market. Porter’s Five Forces model for the engineering plastic compounds market has also been included to help understand the competition landscape of the market. The engineering plastic compounds market has been analyzed by using PESTEL analysis, considering all macroeconomic and microeconomic factors in every end-use industry. The study encompasses market attractiveness analysis, wherein segments have been benchmarked based on their market size, growth rate, and attractiveness.
The study provides a conclusive view of the global engineering plastic compounds market by segmenting it in terms of compound type and end-use industry. These segments have been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand for engineering plastic compounds in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers individual compound type and end-use industry segments across all regions. Key players operating in the engineering plastic compounds market are Asahi Kasei Corporation, BASF SE, Celanese Corporation, Covestro AG, RTP Company, AKRO-PLASTIC GmbH, Daicel Polymer Ltd., Eurostar Engineering Plastics, Formulated Polymers Limited, Ginar Technology Co. Ltd., HDC HYUNDAI EP COMPANY, KAWASAKI SANKO KASEI Co., Ltd., Ngai Hing Hong Company Limited, Piper Plastics, Inc., Polymer-Group, Polyplastics Co., Ltd., Ravago Americas, Teknor Apex, Trinseo LLC, and WITTENBURG GROUP. Market players have been profiled in terms of critical aspects such as company overview, financial overview (EBIDTA, net sales, net income, R&D expenditure, and market capitalization), recent developments, technology analysis and mapping, and business strategies.
The report offers the estimated market size of the engineering plastic compounds market for 2017 and the forecast for the next nine years. The size of the global market has been provided in terms of value and volume. Market numbers have been estimated based on compound type and end-use industry segments of the engineering plastic compounds market. Market size and forecast for each major compound type and end-use industry segment have been provided in terms of the global, regional, and country-level markets.
In order to compile the research report, in-depth interviews and discussions have been conducted with several key market participants and opinion leaders. Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Key players’ annual reports, press releases, and relevant documents have been reviewed for competition analysis and market understanding. Secondary research also includes a search of recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proved to be a highly reliable, effective, and successful approach for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
- A pervasive analysis of the engineering plastic compounds market trends from 2017 to 2026 to identify growth opportunities and analyze market developments
- A list of key developments in the engineering plastic compounds market by major players
- A list of dynamic factors useful for building the roadmap of upcoming opportunities for the engineering plastic compounds market at the global, regional, and country levels
- Widespread analysis with respect to investments and price trends that are expected impact the outlook for the global engineering plastic compounds market between 2018 and 2026
- Insights into growth opportunities for various stakeholders in the value chain and detailed competition landscape of key players dominating the market to help understand the competition level
- Porters’ Five Forces analysis that highlights the potency of buyers and suppliers and enables stakeholders to make profit-oriented business decisions
- PESTEL analysis considering the study of macroeconomic and microeconomic factors and their impact on the engineering plastic compounds market
- Manufacturing process of engineering plastic compounds adopted by key players operating in the market
- Future potential applications exhibiting the lucrativeness of the market for the next few years (These applications are expected to provide the ability to identify and capitalize on the rapidly expanding segments of the market.)
The Engineering Plastic Compounds Market is segmented as below: