Table of Contents
1. EXECUTIVE SUMMARY
1.1. Market Attractiveness Analysis
1.1.1. Global Engineered plastics, by Type
1.1.2. Global Engineered plastics, by End Use Industries
1.1.3. Global Engineered plastics, by Region
2. MARKET INTRODUCTION
2.2. Scope of the Study
2.3. Assumptions & Limitations
2.4. Market Structure
3. RESEARCH METHODOLOGY
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
4. MARKET DYNAMICS
4.2.1. Increasing Demand for Engineered Plastics in Automotive Interior Component Manufacturing
4.2.2. Driver 2
4.2.3. Drivers Impact Analysis
4.3.1. Rising Awareness About Environmental Degradation Due to Exhaustive Utilization of Plastics
4.3.2. Restraints Impact Analysis
4.4.1. Opportunity 1
4.5.1. Challenge 1
5. MARKET FACTOR ANALYSIS
5.1. Impact of Coronavirus Outbreak on Global Engineered plastics Market*
5.1.1. Impact on Industry Supply Chain
5.1.2. End Use Market Movement Impact
5.2. Value Chain Analysis
5.2.2. Engineered Plastic Manufacturers
5.2.4. End Users
5.3. Porter’s Five Forces Model
5.3.1. Bargaining Power of Suppliers
5.3.2. Bargaining Power of Buyers
5.3.3. Threat of New Entrants
5.3.4. Threat of Substitutes
5.3.5. Intensity of Rivalry
5.4. Regulatory Framework
5.4.1. List of Standards & Compliances
6. GLOBAL ENGINEERED PLASTICS MARKET, BY TYPE
6.2. Acrylonitrile Butadiene Styrene (ABS)
6.2.1. Market Estimates & Forecasts, 2019-2030
6.3.1. Market Estimates & Forecasts, 2019-2030
6.4. Polycarbonates (PC)
6.4.1. Market Estimates & Forecasts, 2019-2030
6.5. Thermoplastic Polyester (TPP)
6.5.1. Market Estimates & Forecasts, 2019-2030
6.6.1. Market Estimates & Forecasts, 2019-2030
6.7.1. Market Estimates & Forecasts, 2019-2030
6.8. Polyphenylene Sulfide (PPS)
6.8.1. Market Estimates & Forecasts, 2019-2030
6.9. Polymethyl Methacrylate (PMMA)
6.9.1. Market Estimates & Forecasts, 2019-2030
6.10. Polyphenylene Oxide (PPO)
6.10.1. Market Estimates & Forecasts, 2019-2030
6.11. Polyetheretherketone (PEEK)
6.11.1. Market Estimates & Forecasts, 2019-2030
6.12. Polyethylene Terephthalate (PET)
6.12.1. Market Estimates & Forecasts, 2019-2030
6.13.1. Market Estimates & Forecasts, 2019-2030
7. GLOBAL ENGINEERED PLASTICS MARKET, BY END USE
7.2. Automotive & Transportation
7.2.1. Market Estimates & Forecasts, 2019-2030
7.3. Consumer Appliances
7.3.1. Market Estimates & Forecasts, 2019-2030
7.4. Electrical & Electronics
7.4.1. Market Estimates & Forecasts, 2019-2030
7.5. Industry & Machinery
7.5.1. Market Estimates & Forecasts, 2019-2030
7.6.1. Market Estimates & Forecasts, 2019-2030
7.7.1. Market Estimates & Forecasts, 2019-2030
7.8.1. Market Estimates & Forecasts, 2019-2030
8. GLOBAL ENGINEERED PLASTICS MARKET, BY REGION
8.2. North America
8.2.1. Market Estimates & Forecasts, 2019-2030
18.104.22.168. Market Estimates & Forecasts, 2019-2030
22.214.171.124. Market Estimates & Forecasts, 2019-2030
126.96.36.199. Market Estimates & Forecasts, 2019-2030
8.3.1. Market Estimates & Forecasts, 2019-2030
188.8.131.52. Market Estimates & Forecasts, 2019-2030
184.108.40.206. Market Estimates & Forecasts, 2019-2030
220.127.116.11. Market Estimates & Forecasts, 2019-2030
18.104.22.168. Market Estimates & Forecasts, 2019-2030
22.214.171.124. Market Estimates & Forecasts, 2019-2030
8.3.7. Rest of Europe
126.96.36.199. Market Estimates & Forecasts, 2019-2030
8.4. Asia Pacific
8.4.1. Market Estimates & Forecasts, 2019-2030
188.8.131.52. Market Estimates & Forecasts, 2019-2030
184.108.40.206. Market Estimates & Forecasts, 2019-2030
220.127.116.11. Market Estimates & Forecasts, 2019-2030
8.4.5. South Korea
18.104.22.168. Market Estimates & Forecasts, 2019-2030
8.4.6. Southeast Asia
22.214.171.124. Market Estimates & Forecasts, 2019-2030
126.96.36.199. Market Estimates & Forecasts, 2019-2030
8.4.8. Rest of Asia Pacific
188.8.131.52. Market Estimates & Forecasts, 2019-2030
8.5. South America
8.5.1. Market Estimates & Forecasts, 2019-2030
184.108.40.206. Market Estimates & Forecasts, 2019-2030
220.127.116.11. Market Estimates & Forecasts, 2019-2030
8.5.4. Rest of South America
18.104.22.168. Market Estimates & Forecasts, 2019-2030
8.6. Middle East & Africa
8.6.1. Market Estimates & Forecasts, 2019-2030
8.6.2. Saudi Arabia
22.214.171.124. Market Estimates & Forecasts, 2019-2030
126.96.36.199. Market Estimates & Forecasts, 2019-2030
188.8.131.52. Market Estimates & Forecasts, 2019-2030
8.6.5. Rest of Middle East & Africa
184.108.40.206. Market Estimates & Forecasts, 2019-2030
9. COMPETITIVE LANDSCAPE
9.1. Market Introduction
9.2. Competitive Dashboard
9.3. Market Share Analysis, 2021 (%)
9.4. Company Market Categorization
9.4.1. Market Leaders
9.4.2. Market Innovators
9.4.3. New Market Entrants
10. COMPANY PROFILES
10.1. BASF SE
10.1.1. Company Overview
10.1.1.1. Company Introduction
10.1.1.2. Established Year and Headquarter
10.1.1.3. Operations Overview
10.1.1.4. Company Presence
10.1.2. Financial Overview
10.1.2.2. Business Segment Sales Share
10.1.2.3. Geography Sales Share
10.1.3. Product Offering
10.1.3.1. Product & Band list
10.1.4. Key Developments
10.1.4.1. (Mergers/Acquisitions, Expansion, Investment, Partnership, Collaboration, New Product Launch, etc.)
10.1.5. SWOT Analysis
10.1.5.1. Impactful points focused company business
10.1.6. Key Strategies
10.3. Celanese Corporation
10.4. Dow Inc.
10.5. DSM Corporation
10.6. Solvay SA
10.7. LG Chem
10.9. ElringKlinger AG
10.10. Lanxess AG
10.11. Evonik Industries
10.13. Ester Industries Ltd.
10.14. Polyvision Inc.
10.15. Mitsubishi Engineered Plastics
11.1.1. Discussion Blueprint
This table of content is tentative and subject to change as the research progresses.
Each company will be profiled based on the Market Overview, Financials, Application Portfolio, Business Strategies, and Recent Developments parameters.
Please note: The financial details of the company cannot be provided if the information is not available in the public domain and or from reliable sources.
* indicate that the availability of the information is limited so MRFR will provide the information on best effort basis
Engineered plastics market is projected to register a CAGR of around 9.7% to reach USD 223.98 billion by the end of 2030.
Engineered plastics involves a complicated manufacturing process, yet, the utility of engineered plastics is robust worldwide. Engineered plastics are an integral component of packaging industry, food processing sector, consumer technology, transportation sector, construction industry and several others. Engineered plastics typically include polycarbonates, polyamides, and PMMA among others.
Compared to traditional plastics, engineered plastics reflect higher resistance to heat and higher-performance attributes which reflects their increasing demand across end use industries. For instance, polycarbonate is vividly used in optical dics and helmet production, polyamides are used in manufacturing of ski boots, PMMA is increasingly used in automotive industry for production of protective shields and taillights, and more.
The market growth is attributed to increasing demand for high performance, light weight, and cost competitive plastic products from end use markets. For instance, the electronics industry represents a significant share in terms of engineered plastic consumption for production of various gadgets. Asia-pacific is one of the major hubs for electronic industry participants that increasingly present substantially higher demand for engineered plastics to meet the increasing demand. Increase in deman for engineere plasti
Growth of automotive industry in terms of vehicle technology, component manufacturing, and number of vehicles on-road projecting aftermarket spare parts sector participation in the industry, the demand for engineered plastics is observed to be on a higher note. Demand for light-weight plastic components in vehicle interiors, exteriors, as well as under-the-hood is anticipated to boost demand for engineered plastics in the sector over the coming years.
However, despite multiple innovations in the field of research pertaining to engineered plastics by key market participants, increased government intervention globally in terms of plastic consumption and disposal is likely to present slight restraining order to market growth across the globe. Over the past couple of years, plastic disposal rate has sky-rocketed, leading to higher environmental degradation, as plastics typically take years to decompose. These factors are anticipated to slightly impact market growth of engineered plastics over the foreseeable future, as a standard protocol to save the environment from further degradation.
Covid Impact Analysis
The global pandemic has reflected a tight supply of the plastic products worldwide, majorly due to substantial reduction in operating capacities of manufacturing facilities across countries in Europe, North America, and Asia-Pacific. Furthermore, plastic product manufacturers were observed to be facing serious headwinds with regards to disruptions in feedstock supply as well as price fluctuations.
Increasing expenditure on plastics that are engineered, were highly based on receiving platforms based on their performances. The demand for engineered plastics dipped during 2020 due to lower demand from end use markets, majorly due to operational shut down, as well as lowered feedstock mobility to cater the demand from producers. However, with advent of companies revamping their operational portfolio, the market is estimated to align over the coming year, to reflect market stability globally, as well as on regional level.
Supply Chain Analysis
The demand for engineered plastics depends on the availability and prices of plastic composite materials and their manufacturing process coupled with distribution & marketing. The demand for engineered plastics is highly dependent on availability and sourcing of raw materials, varied factors arranged in terms of product mobility and pricing and more.
Companies operating in the field of engineered plastics are based on increased demand generated from end use markets, as well as from ease of procurement of raw materials from suppliers. The market has reflected enormous changes in pattern of dwelling with changes in terms of product parity, distribution network, end use interfacing and more. Consumers globally are reluctant to utilize engineered plastics to avoid government interference in the application markets and sustain in the marketspace.
However, lack of demand from end use market participants including consumer goods sector, electronics manufacturers, construction sector workers, automakers, packaging industry solution providers and more resulted in direct downfall of demand in the sector. Further, operational downtime of engineered plastic manufacturers, led to increased fluctuations in terms of feedstock delivery and availability of key raw materials to manufacturers. This led to havoc amidst the engineered plastics market globally and the same is poised to reflect steady growth over the forecast period.
The global engineered plastics market has been segmented on the basis of type, end use, and region. On the basis of type, the market is fragmented into Acrylonitrile Butadiene Styrene (ABS), polyamides, polycarbonates, thermoplastic polyester, polyacetales, fluoropolymers, Polyphenylene Sulfide (PPS), Polymethyl Methacrylate (PMMA), Polyphenylene Oxide (PPO), Polyetheretherketone (PEEK), Polyethylene Terephthalate (PET) and more. The variants of engineered plastics as per utility, across industries is vivid, determining usage of the substance across these end use markets.
Based on product movement across the end use marketspace, the engineered plastics market is fragmented into consumer appliances, transportation & automotive, industrial & machinery, electrical & electronics, medical, packaging, and more. In terms of engineered plastic types, Polyethylene Terephthalate (PET) is anticipated to capture the largest market share worldwide, however, the demand for Polyether Ether Ketone (PEEK) is anticipated to growth at the fastest pace due to their increased consumption in production of pumps, piston parts, bearings and more for various industries.
In terms of demand generation of engineered plastics from end use marketspaces globally, aerospace industry is projected to reflect the largest opportunity for growth. The increasing demand for weight reduction in aircrafts by utilizing engineered plastics as an alternate to metal sheets is assessed as one of the key factors influencing market development worldwide over the past couple of years and the trend is likely to remain the same over the coming years.
Global Engineered Plastics Market Revenue, by Type, 2021 (USD Billion)
Sources: MRFR Analysis
Growing industrial revolution across the globe is energizing the production capabilities of engineered plastics in the competitive environment to sustain in the marketspace. Companies operating in the global engineered plastics production ecosystem are more inclined towards bringing in innovation through product upgrades and process modifications. Competitive pricing benchmarks established across the globe is also considered as one of the key forces driving market growth.
Companies involved in production of automotive and aircrafts are observed to be keen on receiving high end engineered plastic products to reduce vehicle and aircraft weights, thereby enhancing fuel efficiency and subsequently reduce carbon footprint globally.
Global Engineered Plastics Market Share, by Region, 2021 (%)
Sources: MRFR Analysis
The global engineered plastics market has been studied across key geographies of the world including Asia-Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia-Pacific, in 2021, accounted for around 33% of the global market share. The key beneficial factor behind such innovation includes intense competition in the region. Companies manufacturing engineered plastics across countries such as China, India, Japan, and South Korea among others are actively involved in project expansions, increased expenditure in R&D, joint ventures, new product development and strategic market positioning of products, various government agreements, and more to strengthen their market value and hold.
North America and Europe are anticipated to emerge as the second and third largest markets for engineered plastics across the globe. Increasing concentration of end use market participants across countries such as the US, Germany, France, and Spain among others is poised to reflect heavy demand for plastic products in the regions. Capital investment in the field of product innovations from packaging industry, automotive industry participants, food & beverage sector players accounts for a major source of market development across Europe and North America.
Further, the penetration of engineered plastics in emerging economies of Middle East & Africa has been steady over the past couple of years. Increased intervention of engineered plastic manufacturing companies in the GCC countries, south Africa and more has been the key driving attribute to market development in the region and the trend is likely to remain the same over the coming years.
Key players operating in the global engineered platics market include Covestro (Germany), BASF SE (Germany), Celanese Corporation (US), Dow Inc. (US), DSM Corporation (Netherlands), Solvay (Belgium), LG Chem (South Korea), LyondellBasell (Netherlands), ElringKlinger AG (Germany), Lanxess AG (Germany), Evonik industries (Germany), SABIC (Saudi Arabia), Ester Industries Limited (India), Polyvisions Inc. (US), and Mitsubishi Engineered Plastics (Japan) among others.
Key engineered plastic manufacturing companies operating globally are concentrated across North America, Europe, and Asia-pacific wherein the demand for these engineered plastics are driven from growing end use markets across these regions. Major manufacturing companies are highly competitive in terms of defining products, expanding their geographic presence and catering a broader category of consumers across regions.
For instance, in 2019, DSM Corporation validated an agreement with SRF Limited, an Indian multi-business chemical company, to acquire their engineered plastics business portfolio. SRF Limited had a portfolio diversion of over 200 grades of engineered plastics including Polycarbonate, Polyamide, PET, Polycarbonate, ABS, and more.
Further, companies such as BASF SE, a Germany based international chemical company, acquired the overall polyamides business portfolio from Solvay SA. The acquisition triggered broadening of engineered plastics division and capabilities, have more access to North America and Asia-pacific marketspaces, and backward integrate polyamides business in the region. These circumstances project a steady growth potential of engineered plastics globally over the foreseeable future.
Global Engineered Plastics Market, by Type
Global Engineered Plastics Market, by End Use
Global Engineered Plastics Market, by Region
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