The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growth in the electronics and electrical industries are expected to drive innovation in engineering plastics manufacturing, thus driving the market during the forecast period.

The global engineering plastics market is expected to grow from $96.04 billion in 2022 to $104.99 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The engineering plastics market size is expected to grow to $145.11 billion in 2027 at a CAGR of 8.4%.

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Global Engineering Plastics Market Segments Include:

• By Type: Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Thermoplastic Polyester, Polyacetal, Fluoropolymer, Other Types
• By Performance Parameter: High Performance, Low Performance
• By End-Use Industry: Automotive And Transportation, Consumer Appliances, Electrical And Electronics, Industrial And Machinery, Packaging, Other End-Use Industries
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global engineering plastics market in 2021.

Major Market Players in the engineering plastics market include Covestro AG, Du Pont de Nemours & Company, LG Chem Ltd., Evonik Industries AG, Mitsubishi Chemical Engineering Corporation, BASF SE.

Bio-based or recycled-based materials have emerged as a key trend gaining popularity in the engineering plastics market. Major companies operating in the engineering plastics market are focused on developing bio-based or recycled-based materials as alternatives for plastics solutions to strengthen their position in the market. For instance, in August 2022, Toray Industries, Inc., a Japan-based producer of engineering plastics such as PPS, nylon, and PBT, developed the first ever fully bio-based adipic acid, a component of nylon 66 (polyamide 66), made from sugars extracted from non-edible feedstock. The company’s microbial fermentation technology and chemical purification technology, which makes use of separation membranes, were combined in a unique synthesis method to accomplish this success.

The Engineering Plastics Global Market Report 2023  provides a engineering plastics market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The engineering plastics market forecast analyzes engineering plastics market size, engineering plastics market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Engineering plastics are high-performance synthetic resins with high durability and heat resistance that have better mechanical and thermal properties. These resins are a class of plastic polymers that offer superior qualities over the more popular commodity plastics. The engineering plastics have the ability to withstand adverse mechanical and environmental conditions.

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