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Engineering plastics market moves to next stage

Quantitative analysis of the current trends and future estimations from 2014 to 2022 is presented, which assists the manufacturers to analyze the market.<br>

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Engineering plastics market moves to next stage

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  1. Opportunity Analysis and Industry Forecast, 2016-2023 Engineering Plastics Market is Expected to Reach $102 Billion, Globally, by 2022 Global Opportunity Analysis and Industry Forecast, 2014-2022

  2. Engineering Plastics Market Polyamide is expected to emerge as the most lucrative type of engineering plastics owing to its elevated design flexibility and shear resistance properties. Consumption of polyamides is highest in Europe; however, Asia-Pacific would closely follow by 2022.  

  3. Engineering Plastics Market Overview Global Engineering Plastics Market was $67 billion in 2015, and is projected to reach $102 billion by 2022, with a CAGR of 6.4% from 2016 to 2022, according to a new report published by Allied Market Research.Acrylonitrile-butadiene-styrene (ABS) segment is expected to lead the market throughout the forecast period, in terms of consumption as well as revenue. North America and Europe collectively accounted for about half of the market share in 2015. Access Full Summary at : https://www.alliedmarketresearch.com/engineering-plastics-market Engineering plastics are utilized for manufacturing instrument panels, seating materials, airbag retainers, fuel systems, shifter bases, door systems, driver train, pedal boxes, sensor housings, and front end modules for automotive.These components make use of ABS, PC, PA, and POM. The key elements that drive the engineering plastics market growth include rise in trend of reducing vehicle weight, improvement in fuel efficiency, and metal replacement in the construction and electrical & electronics industries. 

  4. Engineering Plastics Market The specific categorization of these materials is due to their utility in various applications that require higher performance than commodity materials and require engineering to design customized products. Engineering plastics are gradually replacing metal from construction and automotive industries due to their durability, designing flexibility, high strength-to-weight ratios, and low densities. Major factors that drive the market growth are the growth in trend of reducing vehicle weight and improvement in fuel efficiency coupled with metal replacement in the construction and electrical & electronics industries. In addition, the demand for engineering plastics market is supplemented by growth in end-user industries, as engineering plastics are primarily utilized through injection molding into required end product. However, fluctuating price of crude oil and regulatory challenges regarding CO2 emissions are expected to restrain the market growth.  Among all regions, Asia-Pacific generated the highest revenue, whereas LAMEA is projected to grow at a significant CAGR of 7.8%, due to several emerging economies with expanding end-user industries such as automotive, construction, and consumer products. 

  5. Engineering Plastics Market Snapshot Automotive was the highest revenue-generating segment in 2015, followed by electrical & electronics and consumer products. This segment is estimated to grow at a CAGR of 7.0%. However, packaging is expected to grow at the highest CAGR of 7.3%. Automotive generated maximum revenue owing to the usage of engineered polymer composites and plastics in a wide range of applications. Engineering plastics are the second most common class of automotive materials after ferrous metals and alloys. With increased emphasis on decreasing the weight of the car, improving fuel efficiency, and regulating emissions, engineering plastics are replacing several other materials.. Major players in the engineering plastics segment have adopted expansion, product development, and product launch as their key development strategies. Important players operating in the market include BASF SE (Germany), LG Chem (South Korea), Sabic Innovative Plastics (Saudi Arabia), Solvay SA (Belgium), Evonik Industries AG (Germany), Arkema SA (France), E. I. du Pont de Nemours and Company (U.S.), Royal DSM NV (Netherlands), Lanxess AG (Germany), and Bayer AG (Germany).

  6. Key Benefits of Engineering Plastics Market • The report provides an in-depth analysis of the engineering plastics market across major regions as well as the total revenue generated during the forecast period.  • Quantitative analysis of the current trends and future estimations from 2014 to 2022 is presented, which assists the manufacturers to analyze the market. • The report also provides quantitative as well as qualitative market trends to facilitate the stakeholders in understanding the situations prevailing in the market. • The projections in the report are made by analyzing the current market trends and highlighting the market potential, in terms of value. • Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the market framework.

  7. Engineering Plastics Market North America Europe Asia-Pacific LAMEA

  8. Engineering Plastics Market Thank You! For More Details Visit us at https://www.alliedmarketresearch.com/request-sample/1518 Follow Us On

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