Increasing Demand for Engineering Plastics in Aerospace Industry: BASF, SABIC and DuPont Eyeing to Increase Market Share

20 Sep, 2016, 09:30 ET from Mordor Intelligence

HYDERABAD, India, September 20, 2016 /PRNewswire/ --

Mordor Intelligence announces the publication of their research report on the engineering plastics market. The report titled, "Global Engineering Plastics Market - Segmented by Product, Application, and Geography - Trends and Forecasts" discusses the current landscape and outlook of the said market.

The global engineering plastics market was valued at USD 61,817.63 million in 2015, and is expected to be worth USD 99,334.03 million by 2021, projecting a CAGR of 8.23%. The report is an amalgamation of the current market scenario, its prospects and forces driving and restraining the market growth.

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Our report on the global engineering plastics market has been segmented into:

  • By Product
    • Fluoropolymers
    • Polyacetal/Polyoxymethylene
    • Polyamides
    • Polycarbonates
    • Polymethyl Methacrylate (PMMA)
    • Polyphenylene Oxide (PPO/PPE Blends)
    • Polyphenylene Sulfide (PPS)
    • Styrene Copolymers (ABS & SAN)
    • Thermoplastic Polyesters
    • Liquid Crystal Polymers (LCP)
    • Polyether Ether Ketone (PEEK)
    • Polyimides (PI)
    • Others
  • By End-user Industry
    • Automotive & Transportation
    • Building & Construction
    • Consumer Goods & Appliances
    • Electrical & Electronics
    • Industrial & Machinery
    • Packaging
    • Others

Based on geography, the market is segmented into North America (United States, Canada, Mexico, and Rest of North America), Europe (Germany, United Kingdom, Italy, France, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Rest of APAC), South America (Brazil, Argentina, Rest of South America), and Middle-East & Africa (Saudi Arabia, South Africa, and Rest of Middle East & Africa).

Asia-Pacific currently dominates the market for engineering plastics, followed by North America and Europe. Asia-Pacific accounted for more than 46% of the global market share in 2015. Developing countries in South America and Asia-Pacific are expected to increase their market shares, owing to the growing purchasing power in these regions.

The increasing demand of engineering plastics in developing countries, such as India, China and Brazil, is driving the engineering plastics market. In 2012, the production of engineering plastics amounted 218.88 million tons. The market is driven by factors such as growing purchasing power in developing economies, increasing popularity of bio-based polyethylene terephthalate (PET), and the replacement of traditional materials by engineering plastics.

The automotive & transportation industry is expected to be the fastest growing application area for engineering plastics, recording a CAGR of 8.93% during the forecast period. This region is also likely to be the fastest growing region, projecting a CAGR of 9.19% during the forecast period.

Some of major players in the market include BASF SE, Solvay Plastics, Royal DSM, SABIC, DuPont, Arkema, Mitsubishi Engineering, Plastic Corporation, and Evonik Industries.

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SOURCE Mordor Intelligence