How Does The Engineering Plastics Market Size Analysis Look Like?
The engineering plastics market size has seen robust growth in recent years, expanding from $112.68 billion in 2024 to an anticipated $122.98 billion in 2025, representing a compound annual growth rate (CAGR) of 9.1%. This historic growth is largely attributed to the increased substitution for traditional materials, an electronics and electrical boom, a growing focus on sustainability, expansion in construction, and medical device growth.
Looking ahead, the engineering plastics market size is expected to continue its rapid growth trajectory, with forecasts predicting it will reach $180.35 billion by 2029 which corresponds to a CAGR of 10.0%. This future growth will likely be driven by advances in 3D printing and additive manufacturing, infrastructure modernization, aerospace applications, evolving consumer electronics sector, and circular economy initiatives. Emerging trends behind this forecast include high-performance thermoplastics, miniaturization in electronics, smart and functional materials, customization and tailored solutions, health and safety compliance.
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What are the Key Drivers of the Engineering Plastics Market?
The engineering plastics market’s future growth is set to be propelled by the surging electronics and electrical industries. Engineering plastics are widely used in the manufacturing of a diverse range of electronic goods, encompassing computers, communication equipment, switchgear, storage batteries, and switchboards. For example, the electronics manufacturing industry in India, supported by the Ministry of Electronics and Information Technology, is predicted to grow exponentially from $75 billion in 2022 to a massive $300 billion by 2026. As such, the growth of the electronics and electrical industries globally is a significant driving force for the engineering plastics market.
What Are The Major Segments Within the Engineering Plastics Market?
1) By Type: Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Thermoplastic Polyester, Polyacetal, Fluoropolymer, Other Types
2) By Performance Parameter: High Performance, Low Performance
3) By End-Use Industry: Automotive And Transportation, Consumer Appliances, Electrical And Electronics, Industrial And Machinery, Packaging, Other End-Use Industries
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Who Are The Major Players In The Engineering Plastics Market?
Key players operating in the engineering plastics market include 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.
What Emerging Trends Are Seen In The Engineering Plastics Market?
Emerging trends in the engineering plastics market are largely centered around the development of bio-based or recycled materials as plastic alternatives. For example, in August 2022, Japanese firm Toray Industries, which specializes in producing engineering plastics such as PPS, nylon, and PBT, achieved a breakthrough by developing the first fully bio-based adipic acid from sugars extracted from non-edible feedstock. This represents an innovative synthesis method combining the company’s microbial fermentation and chemical purification technologies.
Which Region Holds The Top Spot In the Engineering Plastics Market?
In 2024, the largest region in the engineering plastics market was Asia-Pacific, a trend expected to continue during the forecast period, making it the fastest-growing region in the sector. The engineering plastics market report provides detailed insights on all regions, including Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does the Engineering Plastics Market Report 2025 Offer?
Engineering plastics are high-performance synthetic resins offering superior durability and heat resistance compared to more common commodity plastics. With excellent mechanical and thermal properties, engineering plastics are increasingly favoured for their ability to withstand adverse mechanical and environmental conditions. This report from The Business Research Company offers comprehensive insights into the global engineering plastics market size, growth rate, regional shares, competitor edge, detailed segments, trends, and opportunities.
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