The “Engineering Plastics Market by Type, End-Use Industry – Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The engineering plastics market is estimated at USD 80.70 billion in 2018 and is projected to reach USD 115.10 billion by 2023, at a CAGR of 7.2% from 2018 to 2023.
Engineering plastics are lighter and more durable than conventional materials such as glass and metals. They outperform metals in corrosion and abrasion resistance. Engineering plastics are finding increased use in various end-use industries such as automotive & transportation, electrical & electronics, consumer appliances, and industrial & machinery.
The increasing trend for lightweight vehicles and growing awareness about the reduction of vehicular emissions are driving the engineering plastics market in the automotive & transportation end-use industry. Competition from other polymers and lack of institutional arrangements act as restraints to the engineering plastics market.
Automotive & transportation is estimated to be the largest end-use industry of engineering plastics. It is projected to be the largest end-use industry, owing to the increased awareness for reducing vehicle weight and improving fuel efficiency. Engineering plastics are used in automotive interior, exterior, under the hood applications, and powertrain. The easy processability of engineering plastics is further increasing its demand in the automotive industry.
Polyacetal or polyoxymethylene (POM) is a type of engineering plastics made by the polymerization of formaldehyde. It possesses superior mechanical, thermal, chemical and electrical properties and provides resistance to high temperatures, chemicals, and abrasion. It has good resistance to a wide range of solvents and possesses good electrical properties, which make it suitable for electrical applications. The superior properties of polyoxymethylene make it suitable for use in industrial machinery, electrical & electronics, automotive & transportation, and consumer goods, thereby, driving the engineering plastics market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Engineering Plastics Market, By Type
7 Engineering Plastics Market, By End-Use Industry
8 Engineering Plastics Market, By Region
9 Competitive Landscape
10 Company Profiles
- BASF SE
- Celanese Corporation
- Solvay S.A.
- LG Chem
- Evonik Industries AG
- Mitsubishi Engineering Plastic Corporation
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