Super Engineering Plastics Market Research Report - Global Forecast till 2030

Super Engineering Plastics Market Research Report: Information by Product Type [Acrylonitrile Butadiene Styrene (ABS), Polyamide (PA), Polybutylene Terephthalate (PBT), Polyethylene Terephthalate (PET), Polyether Ether Ketone (PEEK), Polyphenylene Sulfide (PPS), and Others], End-Use Industry (Automotive & Transportation, Aerospace & Defense, Electrical & Electronics, Packaging, Textile, Sports & Leisure, and Others), and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)–Forecast till 2030

ID: MRFR/CnM/2860-HCR | January 2023 | Region: Global | 140 Pages         

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Super Engineering Plastics Market Overview

super engineering plastics market was valued at around USD 7.58 billion in 2018 and is expected to register approximately 7.60% CAGR during the forecast period, 2022-2030.


Super engineering plastics are a superior grade of engineered plastics that have better thermal and electrical properties than most of the commodity plastics such as polyethylene (PE) and polystyrene (PS). The applications of the super engineering plastics are decided by the type of materials used. For instance, polyphenylene sulfide (PPS) is highly resistant towards heat and primarily used in the automotive industry in various applications from fabricating the chassis to manufacturing the engine mounts. Similarly, polyamide (PA) is highly resistant to abrasion and is widely used for household applications such as surface mounting and connectors systems. On account of their superior physical properties, which can be achieved by unique combinations of multiple polymers, make super engineering plastics the material of choice in different applications. In addition, the excellent heat, chemical, and oil resistance, and great dimensional stability of the super engineering plastics fuel their demand in manufacturing automobile dashboards and bumpers, plug connectors, and handlebars of the electronic devices. Super engineering plastics have their application in automotive engine parts, oil-wells, consumer goods, boilers, pump parts, and others. This is expected to favor growth of this market during the forecast period.


However, the high manufacturing cost of these super engineering products is anticipated to hinder the growth of the global super engineering plastics market.


Global Super Engineering Plastics Market Share, by Product Type, 2018 (%)  Super Engineering Plastics Market


Source: MRFR Analysis


Regional Analysis


The global super engineering plastics market has been segmented into five regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.


The market in Asia-Pacific is expected to grow at a robust CAGR during the forecast period. The countries such as China, India, and South Korea are witnessing rapid industrialization supported by the favorable government policies. Thus, leading to the expansion in automotive and transportation industries and since PPS having a major application in the following industries as they are substituting metal components and helping to reduce the weight, fuel efficiency, and lower the CO2 emissions. Moreover, the growing textile and packaging industries are expected to propel the growth of the regional market for super engineering plastics.


Europe has a significant market share in the super engineering plastics market owing to the increasing use of super engineering plastics in the automotive & transportation, packaging, sports & leisure, and electrical & electronics industries. The market is driven by the stern government policies to reduce the consumption of non-biodegradable products and lower the CO2 emission rate. Owing to these factors the manufactures are adopting towards the usage of super engineering plastics in applications such as oil-wells, consumer goods, and others.


The market in North America is expected to witness significant growth during the review period, owing to its well-established automotive & transportation industry and rapidly growing aerospace & defense industry wherein the demand for super engineering plastics has witnessed an exponential growth in the last decade. The government policies concerning the increasing environmental issues regarding the use of plastic and the presence of prominent manufacturing players of super engineering plastics are expected the drive the market during the forecast period.


The market in the Middle East & Africa is expected to register moderate growth in the coming years. This can be attributed to the increasing applications of super engineering plastics in the construction industry, with ABS being the most widely used plastics in the regional market.


The market in Latin America is expected to witness significant growth owing to the increasing growth of the automotive & transportation industry in the region. For instance, according to the estimates of the Organisation Internationale des Constructeurs d'Automobiles (OICA), the total sale of automobiles increased by 6.25% in 2018.


Segmentation


The global super engineering plastics market has been segmented based on product type, end-use industry, and region.


Based on product type, the global super engineering plastics market has been classified into acrylonitrile butadiene styrene (ABS), polyamide (PA), polybutylene terephthalate (PBT), polyethylene terephthalate (PET), polyether ether ketone (PEEK), polyphenylene sulfide (PPS), and others.


Based on end-use industry, the global super engineering plastics market has been segregated into automotive & transportation, aerospace & defense, electrical & electronics, packaging, textile, sports & leisure, and others. The automotive & transportation industry held the largest market share for the super engineering plastics and is expected to be the fastest-growing segment as most of the product segment for super engineering plastics, such as PPS, PBT, PEEK, and PEI have several major applications in this industry.


Key Players


Some of the key players operating in the global super engineering plastics 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), Huntsman International LLC. (US), LG Chem. (South Korea), Asahi Kasei Corporation (Japan), Chi Mei Corporation (Taiwan), Formosa Plastics Corporation (US), KKPC (South Korea), and SABIC (Saudi Arabia).Recent DevelopmentMay 2021 Toray Advanced Composites has fitted a high-temperature laminate press at its Nijverdal, Netherlands, facility. It will expand the availability of Cetex reinforced thermoplastic composite laminates for high-temperature applications, including PEEK, PEKK, and LMPAEK resin systems. The press can consolidate laminates at up to 400°C, and woven textiles, unidirectional, and hybrid reinforcement configurations are offered. Toyo Plastic Seiko Co., Ltd. manufactures and markets cut and shaved processing materials made of super engineering plastics such as PEEK, PAI, and PPS with excellent heat, chemical, and wear resistance. The materials are widely employed in various fields, including semiconductor production and food processing machines.


Intended Audience



  • Super engineering plastics manufacturers

  • Building & construction industries

  • R&D sector

  • Traders and distributors super engineering plastics

  • Raw product suppliers

  • Potential investors



Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2018: USD 7.58 Billion
  • 2030: Significant value
  •   CAGR   7.60%
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2020
      Forecast Units   Value (USD Billion)
      Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Product Type, End-Use Industry and Region
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   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), and SABIC (Saudi Arabia).
      Key Market Opportunities   The excellent heat, chemical, and oil resistance, and great dimensional stability of the super engineering plastics fuel
      Key Market Drivers   Booming automotive industry, high insulation properties, and growing demand from healthcare and textile industry are boosting market growth.


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    Frequently Asked Questions (FAQ) :

    The super engineering plastics market is predicted to grow at an 7.60% CAGR between 2022-2030.

    Asia Pacific is predicted to have the largest share in the super engineering plastics market.

    Booming automotive industry, high insulation properties, and growing demand from healthcare and textile industry are boosting market growth.

    High manufacturing cost may hinder the market growth.

    Automotive and transportation industry has the largest share in the super engineering plastics market.