Global Engineering Plastics Market - Ashland, KY

Tuesday, 5 January 2021
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City: Ashland, Kentucky
Offer type: Offer
Price: $4,100


Contact name pallavi

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Global Engineering Plastics Market was valued US$ XX Mn in 2019 and is expected to grow US$ XX Mn by 2027, at a CAGR of 6.8% during the forecast period.

Global Engineering Plastics Market

The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.

Engineering plastic is a group of plastic material which has better thermal and mechanical properties. Engineering plastics are used in several industries such as automotive and transportation, electrical and electronics, consumer appliances, industrial machinery, packaging, construction, and medical.

Major factors are driving the market for engineering plastic are growing demand for polyamides in 3D printing, and increasing demand for engineering plastics from the automotive industry. As well metals or thermosets are increasingly substituted by engineering plastics in the electrical & electronics and automotive industries. However, engineering plastic is very costly in nature; this factor may hamper the engineering plastic market growth.

Asia-Pacific is expected to hold the largest XX% share in the engineering plastics market because of the presence of electrical & electronics manufacturers, and huge automobile manufacturers. The presence of major opportunities in consumer appliances, manufacturing automobiles, electronic products, machinery, industrial, and medical devices positively influence the engineering plastics market growth. Major countries like China and India are driving the demand for engineering plastics.

In Europe, the high demand for the engineered plastic material, because of the growing aerospace and wind industry. The aerospace industry needs lightweight material for the manufacturing of major parts. Engineered plastic delivers that solution at a very low cost. Automotive and transportation industries have also increased their demand for the engineered plastic material. Stringent emission and safety rules imposed by the European Union have forced the manufacturing companies to perform intense R&D activities to develop products that are lighter in weight, but have higher impact strength, resistance to wear and fatigue, high abrasion, chemical resistance, and ability to resist a wide temperature range.
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