LONDON, Dec. 07, 2021 (GLOBE NEWSWIRE) -- The global engineering plastic compounds market has been surging steadily as its demand in the automotive industry remains indispensable. An excellent alternative to glass, metal, and ceramics, Fairfield Market Research’s latest report suggests that advantage of lightweight materials in industrial applications will give the global market a shot in the arm. Growing efforts by the transportation industry to reduce emissions by lesser consumption of fuel is expected underpin the demand for engineering plastic compounds in the coming years.
The global engineering plastic compounds market was worth US$17.3 Bn in 2017 and is estimated to be worth US$26.9 Bn by 2025. Between the forecast years of 2021 to 2025, the global market for engineering plastic compounds is speculated to register a CAGR of 5.75%.
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Key Highlights of Global Engineering Plastic Compounds Market:
- Polycarbonate was the leading product category and is expected to be the fastest-growing product with a CAGR of 6.2% in terms of value between 2021 and 2025
- COVID-19 pandemic reinforced the importance of engineering plastics in the medical devices
- Engineering plastics, especially polyamides, polycarbonates, and ABS will power the growth of electric vehicles in the coming decade.
- In 2019, China dominated the demand for engineering plastics compounds in Asia Pacific region, the region is anticipated to witness a robust growth of 6.0% in value terms between 2021 and 2025
Medical Devices to Fuel Global Engineering Plastic Compounds Market
The medical devices industry that focusses on miniaturization and compactness is expected to show a huge demand for engineering plastic compounds. Devices made from these materials are safer, hygienic, and can tolerate a range of chemicals and sterilization procedures. Thus, this segment is expected to make a significant contribution in the global market.
China and India to be Top Markets for Engineering Plastic Compounds
Growing production of electric vehicles in the emerging economies of India and China is expected to augment the consumption of engineering plastic compounds. Asia Pacific collectively holds about 45% share in the global market for engineering plastic compounds. Rise of transportation and logistics industry resulting in growing vehicle fleets is also expected to bode well for the regional market between 2021 and 2025.
Some of the key players operating in the global engineering plastic compounds market are Kraiburg TPE, Trinseo, Petrochemical Conversion Company (PCC), Radici Plastics, Polyone Corporation, Chevron Philips, and Repsol.
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REPORT SCOPE & SEGMENTATION:
| REPORT FEATURES | DETAILS |
| Type Coverage |
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| End Use Industry Coverage |
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| Geographic Coverage |
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| Leading Companies |
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| Report Highlights | Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Porters Five Forces Analysis, Factorization Analysis, Type-, End Use Industry-, Region-, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand), Key Trends |
Detailed Table of Content
1. Executive Summary
1.1. Global Engineering Plastic Compounds Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.3. Supply Chain Analysis
2.4. Economic Overview
2.5. Factorization Analysis
2.6. Porters Five Forces Analysis
2.7. Covid-19 Impact Analysis
2.8. Regulatory Analysis
3. Global Production Capacity Analysis
3.1. By Company
3.2. By Type
4. Price Trends Analysis and Future Projects 2017 - 2025
5. Global Engineering Plastic Compounds Market Outlook 2017 - 2025
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11. Competitive Landscape
11.1. Engineering Plastic Compounds Market: Intensity Mapping
11.2. Engineering Plastic Compounds Market: Competition Dashboard
11.3. Company Market Share Analysis
11.4. Company Profiles
11.4.1. BASF SE
11.4.2. SABIC
11.4.3. Idemitsu Kosan Company, Ltd.
11.4.4. Asahi Kasei Advance Corporation
11.4.5. Lanxess AG
11.4.6. Covestro AG
11.4.7. Suzhou Siko New Material Technology Co., Ltd.
11.4.8. ELIX Polymer (Sinochem International Pte. Ltd.)
11.4.9. Celanese Corporation
11.4.10. Polyplastics Co. Ltd.
11.4.11. Bhansali Engineers Polymer Ltd (BEPL)
11.4.12. INEOS Styrolution India Limited
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