Dublin, April 18, 2025 (GLOBE NEWSWIRE) -- The "Engineering Plastics Market Report 2025" has been added to ResearchAndMarkets.com's offering.
The global engineering plastics market is experiencing strong growth and is forecasted to continue this upward trajectory. In 2024, the market's size stood at $112.68 billion and is projected to reach $122.98 billion in 2025, achieving a CAGR of 9.1%. By 2029, it is expected to soar to $180.35 billion, reflecting a CAGR of 10%. This growth is mainly driven by innovations in 3D printing, infrastructure development, aerospace applications, and evolving consumer electronics.
Key market trends include the rise of high-performance thermoplastics, the miniaturization of electronics, and the push for smart and functional materials. Furthermore, companies are increasingly focused on customization and tailored solutions, alongside ensuring health and safety compliance. The shift toward sustainability is evident as the use of bio-based or recycled materials gains traction, with corporations like Toray Industries pioneering the development of bio-based engineering plastics.
Asia-Pacific leads the global market, poised to maintain its dominance through rapid growth, while other regions such as Western Europe, Eastern Europe, and North America also play vital roles. Countries including China, India, and Japan are at the forefront of market expansion, highlighting the global spread and potential of the sector.
The market's strategic landscape is highlighted by acquisitions and product expansions, as seen in RadiciGroup's acquisition of Ester Industries’ engineering plastics business, strengthening presence in India. Prominent industry players include Covestro AG, DuPont de Nemours Inc., LG Chem Ltd., BASF SE, and Mitsubishi Chemical Engineering Corporation among others.
The electronics and electrical sectors significantly contribute to the demand for engineering plastics, crucial for manufacturing items ranging from computers to communication devices. According to India’s Ministry of Electronics and Information Technology, the electronics manufacturing industry is expected to quadruple from USD 75 billion in 2022 to USD 300 billion by 2026, further stimulating demand.
The automotive industry is equally instrumental in propelling market growth, with substantial reported increases in vehicle sales. In August 2023, passenger car sales in the US rose by 12.7%, while light truck sales increased by 17.2%, reflecting the industry's dynamism and the corresponding reliance on engineering plastics for lightweight and durable components.
Global companies are leveraging these trends by innovating in the creation of hybrid materials, combining features such as transparency, chemical resistance, and heat stability. For instance, Borealis AG recently unveiled Stelora, an eco-friendly engineering polymer derived from renewable resources, supporting the shift toward a circular economy.
Key Benefits of the Report:
- Provides a global perspective with comprehensive coverage across 15 geographies.
- Assesses the impact of macroeconomic factors such as geopolitical conflicts, inflation, interest rates, and pandemic recovery.
- Enables the creation of informed regional and country-specific strategies based on localized data.
- Identifies high-growth segments for targeted investment.
- Utilizes forecast data to outperform competitors by understanding market drivers and trends.
- Offers insights into competitive positioning and market shares.
- Supports presentations with high-quality data and comprehensive analysis.
- Includes an Excel data sheet and dashboard for easy data extraction and analysis.
The report delves into critical questions, such as identifying the largest and fastest-growing markets for engineering plastics and understanding how these markets relate to broader economic and demographic trends. It also outlines the forces expected to shape the market landscape going forward.
Market Analysis:
- Defines market characteristics and provides explanations.
- Presents market size in terms of both historical growth and future forecasts.
- Considers factors such as the Russia-Ukraine conflict, rising inflation, and the pandemic's legacy in market forecasting.
- Analyzes market segmentation, breaking down into sub markets.
- Includes regional and country breakdowns, comparing market sizes and their growth trajectories.
- Describes the competitive landscape, identifying key financial deals and leading companies.
- Suggests strategies for market recovery and growth post-crisis.
Report Scope
Markets Covered: Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Thermoplastic Polyester, Polyacetal, Fluoropolymer, among others.
Performance Parameters: Ranges from high-performance to low-performance materials.
End-Use Industries: Automotive and transportation, consumer appliances, electrical and electronics, industrial machinery, packaging, etc.
Leading Companies Profiled: Covestro AG, DuPont de Nemours Inc., LG Chem Ltd., Evonik Industries AG, Mitsubishi Chemical Engineering Corporation.
Global Coverage: Included countries are across regions like Asia-Pacific, Western and Eastern Europe, North and South America, Middle East, and Africa.
Data Insights: Provides data on market size, GDP proportions, and expenditure per capita, supporting both historical and forecast trajectories over a 15-year period.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025-2029 |
| Estimated Market Value (USD) in 2025 | $122.98 Billion |
| Forecasted Market Value (USD) by 2029 | $180.35 Billion |
| Compound Annual Growth Rate | 10% |
| Regions Covered | Global |
Companies Featured in this Engineering Plastics Market Report:
- Covestro AG
- DuPont de Nemours Inc.
- LG Chem Ltd.
- Evonik Industries AG
- Mitsubishi Chemical Engineering Corporation
- BASF SE
- Celanese Corporation
- Solvay S.A.
- Dow Chemical Company
- Saudi Basic Industries Corporation
- LANXESS AG
- Asahi Kasei Corporation
- DSM Engineering Plastics
- Polyplastics Co. Ltd.
- Teijin Limited
- Toray Industries Inc.
- Arkema S.A.
- Chi Mei Corporation
- Daicel Corporation
- Eastman Chemical Company
- EMS-Chemie Holding AG
- Formosa Plastics Corporation
- Huntsman Corporation
- INEOS Styrolution Group GmbH
- JSR Corporation
- KOLON Industries Inc.
- Kuraray Co. Ltd.
- Mitsui Chemicals Inc
- Nilit Ltd.
- Radici Group
- RTP Company
- Sumitomo Chemical Co. Ltd.
- Techno Polymer Co. Ltd.
- Tosoh Corporation
- Ube Industries Ltd.
- Victrex plc
- Zhejiang NHU Special Materials Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/xnvp8f
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