The global
engineering plastics market by product type includes: polyamide (PA), polycarbonate (PC), polyoxymethylene (POM), polybutylene terephthalate (PBT), acrylonitrile-butadiene-styrene (ABS) and styrene-acrylonitrile (SAN), high performance polymers, fluoropolymers, polymethyl methacrylate (PMMA), others (including UHMWPE/UHMW, TPI alloys and mixtures, etc.).
Engineering plastic applications include: automotive and transportation, electrical and electronics, construction, medical, industrial and mechanical, packaging, and other (such as furniture, sporting goods, leisure goods, etc.). High-performance plastics are expected to be the fastest growing segment of engineering plastics due to growing demand in the automotive and transportation, electrical and electronics, and medical industries worldwide.
According to the latest report, among all products in the plastics industry, engineering plastics will be the fastest growing segment between 2016 and 2026. In terms of market value, the global engineering plastics market value is estimated at US$66.2 billion by the end of 2016. It is expected to reach US$132.8 billion by the end of 2026, with a CAGR of 7.2% during the forecast period. During the forecast period, the global average annual growth rate of engineering plastics consumption was 5.7%.
As of the end of 2016, the market value of engineering plastics in the APEJ region (Asia Pacific region, excluding Japan) was approximately US$21.7 billion. The market size is expected to reach US$61.7 billion by the end of 2026, with an average compound annual growth rate of 8.6% during the forecast period. It is expected that by the end of 2026, the APEJ market will become the most attractive market for the global engineering plastics market, which will account for nearly 40.98% of the market, which will be attributed to the car and transportation of APEJ countries such as China, India, Indonesia, Thailand and Malaysia. Demand for end-user industries such as electrical and electronics, medical and construction is growing. By the end of 2016, the North American market will reach US$11.2 billion and may increase to US$22.8 billion by the end of 2026. The compound annual growth rate is 7.3% during the forecast period.
Among the product types, the ABSSAN market is expected to account for 28.6% of the total engineering plastics market by the end of 2016. During the forecast period, high-performance engineering plastics are expected to grow at a compound annual growth rate of 10.6% due to their growing use in the medical industry, while the market demand has an average annual compound growth rate of 9.6%.
In terms of application categories, by the end of 2016, the electrical and electronics industries accounted for the largest share of the global engineering plastics market, followed by the automotive and transportation sectors and construction. In addition, urbanization, infrastructure and rising income levels will all be factors in driving the growth of the global engineering plastics market.
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