The global engineering thermoplastic market is expected to rise from US$ 246 billion in 2020 to US$ 464 billion in 2031, with demand for engineering thermoplastics growing at a CAGR of almost 6%. The plastics industry contributes significantly to regional economic development and growth in a variety of vital industries.
Engineering thermoplastics will account for about 20% of the global plastic market by 2020. Because their chemically independent macromolecules have the simplest molecular structure, engineering thermoplastics remain the most sought-after material. Demand for high-performance engineering thermoplastics is predicted to increase in the coming years, as is demand for amorphous engineering thermoplastics and engineering thermoplastic polymers.
Key Market Segments Covered
- By Product Type
- 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
- Amorphous Engineering Thermoplastic
- By Product Shape
- Engineering Thermoplastic Sheets
- Engineering Thermoplastic Rods
- Engineering Thermoplastic Tubes
- Engineering Thermoplastic Film
- Custom Engineering Thermoplastic
- By End-Use Industry
- Engineering Thermoplastic for Packaging
- Engineering Thermoplastic for Building and Construction
- Engineering Thermoplastic for Automotive and Transportation
- Engineering Thermoplastic for Electrical and Electronics
- Engineering Thermoplastic for Household Appliances
- Engineering Thermoplastic for Sports & Leisure
- Engineering Thermoplastic for Agriculture
- Engineering Thermoplastic for Medical Use
- Engineering Thermoplastic for Other End-use Industries
Competitive Environment
The majority of the companies profiled in the research are concentrating on expanding their manufacturing operations in emerging markets. Innovation, cooperation with important actors, partnerships, acquisitions, strategic alliances, and the strengthening of regional and worldwide distribution networks are all examples of strategies. The following are some of the most significant developments:
BASF completed the acquisition of Solvay’s polyamide (PA 6.6) business in January 2020. With new and well-known products like Technyl, BASF’s polyamide capabilities are expanded.
SABIC enhanced its PP offering in November 2018 with a new impact copolymer that provides aesthetically pleasing surfaces while potentially saving money for home appliances and consumer products.
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