London, Nov. 10, 2022 (GLOBE NEWSWIRE) -- A host of commercial application areas drive the growth of engineering plastic compounds as they increasingly gain the status of a preferred material choice over conventional counterparts like metals, glass, wood, and ceramic. A new Fairfield Market Research study offers detailed growth forecast and analysis of global engineering plastic compounds market during the period of projection, 2021 – 2025. At an estimated CAGR of 5.7%, global engineering plastic compounds market size is expected to jump from the revenue of around US$17.3 Bn in 2017 to more than US$26.9 Bn toward the end of 2025. The report states that the demand will remain afloat with easier manufacturability, and cost efficiency of engineering plastic compounds. An expanding base of application, including automotive, building and construction, to electrical and electronics, consumer goods and appliances is likely to underpin the growth of engineering plastic compounds market.
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Key Research Insights
- Polycarbonates remain the most sought-after engineering plastic compound and will possibly see nearly 6.2% growth in sales
- Polyamides are also likely to emerge lucrative in light of the growing boom around electric vehicles (EVs)
- Asia Pacific accounted for the revenue of over US$10 Bn in 2020
Insights into Segmental Analysis
The concept of engineering plastic compounds is an umbrella covering a large number of products such as polyamides, styrenics (ABS & SAN), polybutylene terephthalate (PBT), polycarbonate, polymethyl methacrylate (PMMA), polyoxymethylene (POM), and thermoplastic elastomers (TPE). While polycarbonates remain the dominant segment that has been projected for a healthy CAGR of 6.2% CAGR through 2025, the segment registered revenue worth around US$4.5 Bn in the year 2020. Polyamides will be the next significant segment, followed by ABS. The report attributes rising ABS adoption to the rising EV boom. Based on the analysis by end user, automotive industry recorded the revenue contribution of over US$6 Bn in 2020 and will remain the top end user segment in engineering plastic compounds market through the end of forecast period. In addition, rising application in medical devices industry, and food packaging sector will further elevate the scope of growth for the market. Uptake by industries like building and construction, consumer products, and electrical and electronics will also remain on an uptrend.
Key Report Highlights
- Rising adoption of engineering plastic compounds in 3D printing realm is expected to maintain the buoyancy of market throughout the period of projection
- Notably rising preference for engineering plastic compounds in packaging of food products, as well as medical devices will boost market revenue
Insights into Regional Analysis
Accounting for the largest revenue share of over 45% in global engineering plastic compounds market, Asia Pacific continues to spearhead, led by China, and India. ASEAN countries, especially Malaysia, and Thailand also remain at the forefront of demand generation, marks the report. With the world’s largest manufacturing hub, and unprecedented growth of key end-use industries like automotive & transportation, electrical & electronics, consumer appliances, and building & construction, Asia Pacific will continue to provide the most suitable breeding ground for engineering plastic compounds market players. EV industry’s rapid expansion across the region will also contribute toward the growth of engineering plastic compounds market here.
Engineering Plastic Compounds Market Competition
Apart from Covestro AG, and BASF SE, the report covers some of the prominent players for competitive profiling and analysis. Some of the company names profiled in the report include Asahi Kasei Advance Corporation, SABIC, Celanese Corporation, Idemitsu Kosan Company Ltd., Lanxess AG, RTP, Buss AG, Wittenburg Group, Piper Plastics, Triseo LLC, Daicel Polymer, Eurostar Engineering Plastics, and Formulated Polymers.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2020 | |
| Forecast Year | 2021 – 2025 | |
| Market Size in 2017 | US$17.3 Bn | |
| Estimated Market Size in 2025 | US$26.9 Bn | |
| CAGR | 5.7 % | |
| Key Players | Covestro AG, BASF SE, SABIC, Asahi Kasei Advance Corporation, Buss AG, Celanese Corporation, Lanxess AG, Idemitsu Kosan Company Ltd., RTP, Piper Plastics, Wittenburg Group, Triseo LLC, Formulated Polymers, Daicel Polymer, Eurostar Engineering Plastics | |
Market Segmentation
Type Coverage
- Polycarbonate
- Polyamide
- Polymethyl Methacrylate
- Polyoxymethylene
- Polybutylene Terephthalate
- Acrylonitrile Butadiene Styrene
- Styrene-Acrylonitrile
- Thermoplastic Elastomer
- Misc. (UHMWPE, LCP ASA, PI, PVDF, etc.)
End-Use Industry Coverage
- Automotive
- Aerospace
- Electrical and electronics
- Building and construction
- Consumer goods and appliances
- Medical
- Misc. (Packaging, Industrial applications, etc.)
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- BASF
- SABIC
- Idemitsu
- Asahi Kasei Engineering Plastics
- Elix Polymer
- Lanxess
- Siko Polymers
- Bhansali Engineers Polymer Ltd.
- Polyplastics
- Covestro
- Ineos Styrosolution
- Celanese Corporation
- Others
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Type-wise Analysis
- Application-wise Analysis
- End User-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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