Worldwide demand for engineering thermoplastic is anticipated to reach US$ 518.3 million by 2033 | Fact.MR Study

The global engineering thermoplastic market is estimated to be valued at US$ 292.2 billion in 2023 and it is expected to grow at a CAGR of 5.9% to reach US$ 518.3 billion by the end of 2033.

Engineering plastic has gained wide acceptance in various end-use industries due to its superior performance. The growing use of engineering thermoplastics (ETPs) in fluid handling, agricultural equipment, and medical implant and equipment to increase its consumption during the forecast period.

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Key findings of the Engineering Thermoplastic market study:

·         Regional breakdown of the Engineering Thermoplastic market based on predefined taxonomy.

·         Innovative manufacturing processes implemented by Engineering Thermoplastic vendors in detail.

·         Region-wise and country-wise fragmentation of the Engineering Thermoplastic market to grasp the revenue, and growth outlook in these areas.

·         Changing preferences among consumers across various regions and countries.

·         Factors (Positive and Negative) impacting the growth of the global Engineering Thermoplastic market.

Competitive Landscape:

Prominent engineering thermoplastic manufacturers are BASF SE, LG Chemical Ltd., Eastman Chemical Company, 3M, INEOS, Dow, DuPont, Evonik Industries AG, LyondellBasell Industries, SABIC, Sumitomo Chemical Co., Ltd., Reliance Industries Limited, Cabot Corporation, Mitsubishi Chemical Holdings Corporation, and Arkema S.A.

Owing to the increasing demand for ETPs from various packaging and automotive industries has led manufacturers to increase their production capacity to meet the demand. They are focusing on joining hands with end-users and are investing in R&D for developing newer materials that are easier to recycle. Besides, manufacturers are investing in recycling the existing plastic waste which is being accumulated in the landfills in the region and are adopting sustainable practices in an attempt to reduce their overall environmental impact.

  • In September 2022, BASF started its first plant in Zhanjiang, China with a manufacturing capacity of 60,000 metric tons of engineering plastics. The new plant will increase the BASF’s production capacity of engineering plastic to 420,000 metric tons in the Asia Pacific.
  • In March 2021, Eastman announced the investment for the upgradation and expansion of the extrusion capability for interlayer production at its manufacturing facility in Springfield, Massachusetts. This will strengthen its capability in meeting the demand for Saflex® polyvinyl butyral from the automotive and architecture sectors.

Fact.MR has provided detailed information about the price points of key manufacturers of engineering thermoplastic positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

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Segmentation of Engineering Thermoplastic Industry Research:

  • By Product :
    • Amorphous Engineering Thermoplastic
      • Styrene Copolymers (ABS/SAN)
      • Polycarbonate (PC)
      • Polymethyl methacrylate (PMMA)
      • Polyphenylene Oxide (PPO)
      • Others
    • Semi-Crystalline Engineering Thermoplastic
      • Thermoplastics Polyesters (PBT/PET)
      • Polyamide (PA)
      • Fluoropolymers (PTFE / Teflon)
      • Polyacetals (POM)
      • Polyether Ether Ketone (PEEK)
      • Polyphenylene Sulfide (PPS)
      • Others
  • By Shape :
    • Sheet
    • Rod
    • Tube
    • Film
    • Custom
    • Polypropylene
  • By End-Use Industry :
    • Packaging
    • Building and Construction
    • Automotive and Transportation
    • Electrical and Electronics
    • Household Appliances
    • Sports & Leisure
    • Agriculture
    • Medical
    • Others
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

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Reports published by Fact.MR are a result of the combination of our experts and digital technologies. We thrive to provide innovative business solutions to the clients as well as tailor the reports aligning with the clients’ requisites. Our analysts perform comprehensive research to offer ins and outs of the current market situation. Clients across various time zones tend to utilize our 24/7 service availability.

 

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