Global Super Engineering Plastics Market Overview
Super Engineering Plastics Market Size was valued at USD 8.3 billion in 2022. The Super Engineering Plastics market industry is projected to grow from USD8.9308 Billion in 2023 to USD 16.04680349 billion by 2032, the Super Engineering Plastics Market is projected to experience a significant compound annual growth rate (CAGR) of 7.60% from 2023 to 2032. This growth is primarily driven by the exceptional properties exhibited by super engineering plastics, including their excellent heat resistance, chemical resistance, oil resistance, and dimensional stability. These properties contribute to their increasing demand in various industries, fueling market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Super Engineering Plastics Market Trends
An increase in aircraft production activities is driving the market growth
The properties of super engineering plastics such as high-temperature stability, excellent chemical resistance, impact resistance, high strength, and excellent durability under thermal stress and harsh environments along with their inherently flame-retardant properties make them ideal for use in various components of aircraft which include aircraft fan thrust reverser, fan blade wear strips, fuel line spacer, and other aircraft components. Furthermore, the global commercial aircraft fleet is witnessed to expand significantly, reaching approximately 8,270 aircraft by the end of 2037. These developments in the aviation industry are anticipated to drive the demand for flame retardant ABS and other super engineering plastics like PBT, ABS, polyamide, PEEK, LCP, etc., for various interior components of aircraft. The exceptional properties and suitability of these materials for aviation applications are expected to fuel the growth of the market CAGR in the coming years
Super engineering plastics possess a range of exceptional properties that make them highly suitable for various aircraft components. These plastics exhibit high-temperature stability, excellent chemical resistance, impact resistance, high strength, and durability under thermal stress and harsh environments. Additionally, they are inherently flame-retardant, adding to their appeal in aerospace applications. The demand for super engineering plastics in the aerospace industry is expected to grow due to the projected increase in the commercial aircraft fleet. Furthermore, the development of the US mainliner carrier fleet is expected to rise, with an estimated increase of 54 aircraft per year.The components that benefit from the properties of super engineering plastics
include aircraft fan thrust reversers, fan blade wear strips, fuel line spacers, and other critical parts. The superior characteristics of these plastics, such as high-temperature resistance, chemical resistance, and impact resistance, make them highly desirable for ensuring the reliability and performance of aircraft components. Thus, driving the Super Engineering Plastics market revenue.
Super Engineering Plastics Market Segment Insights
Super Engineering Plastics Product Type Insights
The Super Engineering Plastics market segmentation, based on product type, includes Acrylonitrile Butadiene Styrene (ABS), Polyamide (PA), Polybutylene Terephthalate (PBT), Polyethylene Terephthalate (PET), Polyether Ether Ketone (PEEK), Polyphenylene Sulfide (PPS), and Others. The acrylonitrile butadiene styrene (ABS) segment dominated the market due to its widespread use and favorable properties. Acrylonitrile Butadiene Styrene (ABS) is a thermoplastic polymer known for its tremendous impact, toughness, and heat resistance. It is widely used in various industries such as automotive, electronics, and consumer goods, which are widely used in the electronics industry for producing housings and enclosures for electronic devices. Its electrical insulation properties and flame retardancy make it a preferred choice for these applications.
Super Engineering Plastics End-Use Industry Insights
The Super Engineering Plastics market segmentation, based on the end-use Industry, includes Automotive & Transportation, Aerospace & Defense, Electrical & Electronics, Packaging, Textile, Sports & Leisure, and Others. The automotive & transportation segment dominated the market due to the extensive use of these plastics in various applications within the automotive and transportation industries. Furthermore, the growing demand for lightweight materials, increased focus on fuel efficiency, and the need for durable and high-performance components in the automotive and transportation industries. These factors drive the adoption of super-engineering plastics as a preferred material choice in this segment, leading to its market dominance.
Figure1: Super Engineering Plastics Market, by End-Use Industry, 2022 &2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Super Engineering Plastics Regional Insights
The market analysis covers North America, Europe, Asia-Pacific, and the Rest of the World, providing valuable insights into the Super Engineering Plastics market. Among these regions, North America is expected to dominate the market. This dominance can be attributed to two key factors: the presence of a well-established automotive and transportation industry and the rapid growth of the aerospace and defense sector.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: GLOBAL SUPER ENGINEERING PLASTICS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
In Europe, the Super Engineering Plastics market holds the second-largest market share, driven by the growing utilization of these materials in various industries such as automotive & transportation, packaging, sports & leisure, and electrical & electronics. Germany has the largest market share among the European countries, while the UK is experiencing the fastest growth in this sector.
The Asia-Pacific Super Engineering Plastics Market is expected to grow at the highest CAGR from 2023 to 2032. This is due tothe increasing applications of super engineering plastics in the construction industry. Moreover, China’s Super Engineering Plastics market held the largest market share, and the Indian Super Engineering Plastics market was the fastest-growing market in the Asia-Pacific region.
Super Engineering Plastics Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Super Engineering Plastics market grow even more. Market participants are also undertaking different strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. Super Engineering Plastics must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Super Engineering Plastics industry to benefit clients and increase the market sector. The Super Engineering Plastics industry has offered some of the most significant advantages in recent years. Major players in the Super Engineering Plastics market, including Solvay (Belgium), TORAY INDUSTRIES, INC. (Japan), DIC CORPORATION (Japan), Tosoh Corporation (Japan), KUREHA CORPORATION (Japan), NHU Materials Co. (China), LION IDEMITSU COMPOSITES CO., LTD (Japan), BASF SE (Germany)and SABIC (Saudi Arabia)., and others are attempting to increase market demand by investing in research and development operations.
LG Chem is a prominent global chemical company known for its diverse petrochemicals, advanced materials, and life sciences business portfolio. The company offers many products, including high-value-added petrochemicals and renewable plastics. LG Chem specializes in cutting-edge electronic and battery materials, such as cathodes, drugs, and vaccines, providing innovative solutions to its customers.In line with its growth strategy, LG Chem has announced its intention to construct a new Acrylonitrile Butadiene Styrene (ABS) plant in Ohio. This strategic move aims to meet the increasing demand for ABS in automotive, electronics, and others.
DSM is a multinational corporation based in the Netherlands that operates in health, nutrition, and materials. With its headquarters in Heerlen, the company employed around 21,054 individuals in approximately 50 countries by the end of 2017. In 2018, DSM achieved net sales of €8.632 billion, which increased to €9.204 billion in 2021. DSM recently introduced Arnitel and Stanyl, two engineering plastics that incorporate 25% bio-based or recycled materials. This product launch is expected to facilitate the company's expansion of its product portfolio, offering more sustainable options to meet customer demands.
Key CompaniesIn The Super Engineering Plastics Market Include
- Solvay (Belgium)
- TORAY INDUSTRIES, INC. (Japan)
- DIC CORPORATION (Japan)
- Tosoh Corporation (Japan)
- KUREHA CORPORATION (Japan)
- NHU Materials Co. (China)
- LION IDEMITSU COMPOSITES CO., LTD (Japan)
- BASF SE (Germany)
- Huntsman International LLC. (US)
- LG Chem. (South Korea)
- Asahi Kasei Corporation (Japan)
- Chi Mei Corporation (Taiwan)
- Formosa Plastics Corporation (US)
- KKPC (South Korea)
- SABIC (Saudi Arabia).
Super Engineering Plastics Industry Developments
January 2020: BASF has recently unveiled PolyethersulfoneUltrason E0510 C2TR, a specialized solution for automotive components encountering hot oil. This innovative product demonstrates favorable tribological characteristics, exceptional dimensional stability, and superior resistance to oil. Introducing this new offering will enable the production of a diverse range of car parts that require contact with oil, ensuring reliable performance and durability.
November 2019: DSM launched Arnitel and Stanyl, the engineering plastics with 25% bio-based/recycled material. This launch will aid the company in expanding its product line.
Super Engineering Plastics Market Segmentation
Super Engineering Plastics Product Type Outlook
- Acrylonitrile Butadiene Styrene (ABS)
- Polyamide (PA)
- Polybutylene Terephthalate (PBT)
- Polyethylene Terephthalate (PET)
- Polyether Ether Ketone (PEEK)
- Polyphenylene Sulfide (PPS)
Super Engineering Plastics End-Use Industry Outlook
- Automotive & Transportation
- Aerospace & Defense
- Electrical & Electronics
- Packaging
- Textile
- Sports & Leisure
- Others
Super Engineering Plastics Regional Outlook
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
| Report Attribute/Metric |
Details |
| Market Size2022 |
USD 8.3billion |
| Market Size 2023 |
USD 8.9308billion |
| Market Size2032 |
USD 16.04680349billion |
| Compound Annual Growth Rate (CAGR) |
7.60%(2023-2032) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Product Type, End-Use Industry, and Region |
| Geographies Covered |
North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered |
The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Solvay (Belgium), TORAY INDUSTRIES, INC. (Japan), DIC CORPORATION (Japan), Tosoh Corporation (Japan), KUREHA CORPORATION (Japan), NHU Materials Co. (China), LION IDEMITSU COMPOSITES CO., LTD (Japan), BASF SE (Germany), |
| |
and SABIC (Saudi Arabia) Key Market Opportunities Super engineering plastics are highly sought after due to their great heat, chemical, and oil resistance and exceptional dimensional stability. These properties make them an ideal choice for various applications where exposure to extreme temperatures, harsh chemicals, and demanding operating conditions is a concern. The excellent performance and reliability of super engineering plastics fuel their growing popularity in industries such as automotive, aerospace, electrical, and more, where durability and resistance to environmental factors are crucial |
| Key Market Dynamics |
The booming automotive industry, high insulation properties, and growing demand from the healthcare and textile industry are boosting market growth. |
Frequently Asked Questions (FAQ) :
The global Super Engineering Plastics market size was valued at USD 8.3 Billion in 2022.
The Super Engineering Plastics market is growing at a CAGR of 7.60% during the forecast period, 2023-2032.
North America had the largest share of the Super Engineering Plastics Market
The key players in the market are Solvay (Belgium), TORAY INDUSTRIES, INC. (Japan), DIC CORPORATION (Japan), Tosoh Corporation (Japan), KUREHA CORPORATION (Japan), NHU Materials Co. (China), LION IDEMITSU COMPOSITES CO., LTD (Japan), BASF SE (Germany), and SABIC (Saudi Arabia).
The Acrylonitrile Butadiene Styrene (ABS) category dominated the market in 2022.
Automotive & Transportation had the largest share of the global market.
