Engineering Thermoplastic Market To Receive Overwhelming Hike In Revenues By 2031

Rise in demand for high performance plastics is due to their well-balanced properties of low density, ease of processing, and low cost. Thermoplastics are also suitable for economical processing from low output-specific packaging to mass production. Demand for lightweight along with high waterproof packaging has significantly reduced demand for paper and cardboard packaging, and has fuelled the market for thermoplastic in the packaging industry.

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Increasing plastic waste due to ever-increasing demand from the automobile industry is driving the market for recyclable engineering thermoplastic, as people are becoming more conscious towards sustainable living. Emerging markets, especially large markets such as India and China, have significant untapped potential in expanding the market for engineering thermoplastic. As the geriatric population and healthcare expenditure in these nations continue to rise, a greater segment of the world’s population demands better healthcare and treatment with advanced systems. This, in turn, has been creating demand for medical polymers that are primarily used in devices and equipment for hip & joint replacement and spinal implants. Commodity resins such as PE, PP, PVC, PS and PET are commonly used polymers in medical applications.

As per a new report published by Fact.MR, the global engineering thermoplastic market is anticipated to reach a valuation of US$ 259 Bn by 2021, and is expected to expand at a healthy CAGR of around 6% over the forecast period of 2021 to 2031.

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Key Takeaways from Market Study

• In 2020, one-fourth of market revenue was generated solely by North America.
• Semi-crystalline engineering thermoplastic accounts for around 53% of the global sales volume, and is utilised at large by end-use industries established in European countries.
• In 2020, North America and Europe together accounted for more than half of global market revenue. The European market is expected to offer around US$ 60 Bn absolute dollar opportunity over the next ten years.
• The market is highly fragmented, with companies such as BASF SE and SABIC holding around 17% of the global market share.
• In terms of end-use industry, the automotive and transportation industry held around 22% market share in 2020.
• In 2020, around 30% of the global engineering thermoplastic was demanded and delivered in the form of tubes, to account for US$ 75.2 Bn market revenue.
• The market in East Asia is projected to expand at a CAGR of around 7% from 2021 to 2031.

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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
• 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
• By Region
  • North America
  • Latin America
  • Europe
  • MEA
  • East Asia
  • South Asia
  • Oceania

After reading the Engineering Thermoplastic Market report, readers can:

• Understand the drivers, restraints, opportunities and trends affecting the growth of the global .
• Analyze key regions holding significant share of the total Engineering Thermoplastic Market revenue.
• Study the growth outlook of the global Engineering Thermoplastic Market scenario, including production, consumption, history and forecast.
• Learn consumption pattern and impact of each end use on the Engineering Thermoplastic Market growth.
• Investigate the recent R&D projects performed by each Engineering Thermoplastic Market player.

The Engineering Thermoplastic Market report answers important questions which include:

• What does the status of the Engineering Thermoplastic Market look?

• Engineering Thermoplastic Market look like after the forecast period?
• Which region has the highest contribution to Engineering Thermoplastic Market Devices  why?
• Which players remain at the top of the Engineering Thermoplastic Market look?
• What opportunities are available for the Engineering Thermoplastic Market players to expand their production footprint?
• Which segment has the maximum impact on Engineering Thermoplastic Market?

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