LONDON, Feb. 3, 2016 /PRNewswire/ -- Middle East & Africa engineering plastics market is currently valued at XX billion in 2014 and is expected to reach XX billion by 2020 showing a compound annual growth rate of XX%. Asia-Pacific currently dominates the market for engineering plastics followed by Regional scale Europe. The developing regions of South America and Asia Pacific are expected to increase its market share in the future owing to the growing purchasing power in the developing countries.
Our Engineering plastics current data shows that Europe and North America remain interesting as locations for research and development and also important as sales markets. However, the establishment of new production capacities is favored in the Middle East region.
The emerging regions such as Asia, South America, Middle-East and developing regions from Europe have been witnessing sizeable growth prospects for engineering plastics.
Engineering plastics are used in an increasing number of markets – from Packaging, Building & Construction, Electrical & electronics, Automotive & transportation, Furniture & bedding, Sports & leisure and a number of other segments.
The growing trend towards lower vehicle weight, lower emissions and enhanced fuel efficiency is expected to drive the consumption growth of engineering plastics in the automotive and transportation industry. The high sales growth of the passenger cars in emerging markets such as China and India is also expected to boost the market.
The industry is expected to face certain challenges such as regulatory standards to reduce CO2 emissions, fluctuation of crude oil prices, and product commoditization.
The introduction of "Green Vehicles" as a key to future growth has spurred the use of engineering plastic in their production, which is seen as an excellent market opportunity. Besides this the innovation in product application and use of engineering plastics in aerospace industry are other opportunities present.
What the report contains
The report elucidates the situation of engineering plastics around the world and studies the markets of the engineering plastics type which include Fluoropolymers (PTFE & Others), Polyacetal/Polyoxymethylene, Polyamides, Polycarbonates, Polymethyl Methacrylate (PMMA), Polyphenylene Oxide (PPO/PPE Blends), Polyphenylene Sulfide (PPS), Styrene Copolymers (ABS & SAN), Thermoplastic Polyesters (PET & PBT) and others.
Lastly, the report is divided by countries - Saudi Arabia, South Africa and others; where-in the market share of each region is analyzed and estimates are provided for the next 5 years. The various applications of engineering plastics have been discussed in detail in addition to a comprehensive overview of the market.
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