Engineering Plastics Market Is Expected to Reach $102 Billion, Globally, by 2022

by:Powerful Toys     2019-10-31
Thanks to its design flexibility and improved shear resistance, nylon is expected to be the most profitable type of engineered plastic.The highest consumption in Europe is polyamide;however, Asia-The Pacific Ocean will be behind it by 2022.The Global Engineering Plastics Market was $67 billion in 2015 and is expected to reach $102 billion by 2022, with a compound annual growth rate of 6.
4% according to a new report released by United market research, from 2016 to 2022.Acrylonitrile-butadiene-In terms of consumption and income, the ethylene (ABS) sector is expected to lead the market throughout the forecast period.North America and Europe accounted for about half of the market in 2015.
https://www.
Joint Market Research.
com/request-Engineering plastics are used to manufacture dashboards, seat materials, airbag holders, fuel systems, pad bases, door systems, driver trains, pedal boxes, sensor housing, and front-end modules of the car.These parts use ABS, PC, PA and POM.Key factors driving the growth of the Engineering Plastics Market include an increase in the downward trend in car weight, an increase in fuel efficiency, and metal replacement in the construction and electrical and electronic industries.In addition, the final growthConsumer industries such as packaging, construction, electrical and electronics, automobiles and consumer goods are expected to further increase the consumption of engineering plastics.
However, fluctuations in crude oil prices and regulatory challenges for carbon dioxide emissions have hindered market growth.In 2015, the ABS division gained the largest share and is expected to lead during this period due to its multi-functional design structure, dimensional stability, mechanical strength and heat resistance.It is expected that the polyamide segment with a high composite growth rate of 6 will grow.
7% between 2016 and 2022, demand for the automotive sector increased.In 2015, the largest share of the automotive application market, close to 1-fourth.It is estimated that packaging is the fastest growing application area for CAGR 7.
3% increased demand for perishable and perishable enhanced storage and transport solutionsPerishable goods.Asia, 2015-Due to the growth of the automotive and consumer goods industries, the Pacific has accounted for about 30% of the largest market share.It is estimated that the two huge emerging markets, China and India, have the fastest growth in demand for polyamide (nylon) and poly-butinate (pet) products.
In addition, LAMEA is expected to grow at the highest compound growth rate of 7.8% because it consists of several emerging economiesConsumer industries such as automobiles, construction and consumer goods.https://www.Joint Market Research.com/purchase-ABS generated the highest revenue in 2015, with a compound growth rate expected to be 5.
9%.
The packaging segment is expected to grow at a compound growth rate of 7.3%.Nylon is expected to be the fastest growing construction plastic with a compound annual growth rate of 7.8%, in terms of value.In 2015, China\'s share of the world\'s Engineering Plastics Market exceeded 20%.
LAMEA is expected to be the fastest growing market with a compound annual growth rate of 7.8%.Key participants included basf se (Germany), LG Chem (Korea), SABIC Innovative Plastics (Saudi Arabia), Solvi SA (Belgium) winchuang Industrial Co., Ltd. (Akoma, France (France)I.DuPont companies & Companies (United States of America)S.
Royal DSM of the Netherlands, Longsheng of Germany and Bayer of Germany
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