Global Engineering Plastic Market: Overview
Engineering plastics are considered to be better in terms of quality than existing plastics. The global engineering plastics market is likely to observe an increasing trend in terms of demand during forecast period. Engineering plastics are being used across all sectors including consumer appliances. Engineer plastics are produced in low volumes, but the global engineering is likely to keep expanding during given timeline.
A forthcoming Transparency Market Research (TMR) illustrates the global analysis in terms of share, size, and growth in the global engineering plastic market. The report also states key factors such as drivers, restraints, regional overview, and competitive market of the global engineering plastic market during the forecast period.
Global Engineering Plastic Market: Drivers & Restraints
Engineering plastics are light weight and have higher durability. They surpass metals in terms of abrasions and corrosions. This acts as one of the major factors driving the global engineering plastic market. Several end users such as electrical & electronics, automotive & transportation, machinery and industrial, and consumer appliances boost the demand for engineering plastic. However, automotive industry is expected to be the major contributor. This is due to rising trend for light weight and rising need for minimal vehicular emission. Easy processing feature further drives the global market for engineering plastic. Such factors are expected to promote the global engineering plastic market to grow substantially.
Polyacetal is yet another major contributor to the engineering plastic market. Polyacetal is resistant to abrasion and high temperatures, thus possessing superior traits such as rigidity, high mechanical strength, chemical resistance, and self-lubricating properties as compared to conventional plastics. Therefore, being resourceful to the expansion of the global engineering plastic market during the forecast period. Increasing popularity of bio PET further promotes the global engineering plastic market.
Engineering plastic is highly expensive in comparison to conventional plastic due to high cost involved in production. This may hinder the growth of the global engineering plastic market. However, the global engineering plastic market is still expected to expand due to the benefits associated with them as compared to traditional plastic. Hence, the global engineering plastic market is projected to witness a stellar growth during the forecast period.
Global Engineering Plastic Market: Regional Synopsis
In terms of geography, the global engineering plastic market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. Asia Pacific is likely to be dominating over the global engineering plastic market during th forecast period. Major demand is expected from Japan, China, and India. China and India are projected to be major contributor to market growth in this region due to increasing demand from automotive, electronics and electrical sector
Global Engineering Plastic Market: Competitive Forces
The global engineering market has very limited key players operating worldwide. They produce their own raw material to produce engineering plastics. Furthermore, these companies are involved in developing new technologies for product enhancement to gain over the competitive edge in the global engineering plastic market. They are also looking for cash in on opportunities for developing products that can be used new applications. Therefore, pushing the global engineering plastic market to grow substantially during the forecast period.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.