Market Overview
The global engineering plastics market reached US$ 76490.64 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 120328.11 million by 2030. The market is expected to exhibit a CAGR of 6.87% during the forecast period (2023-2030).
Engineering plastics are finding more applications in the automotive sector owing to their applications such as lightweight, design flexibility, and many more which boost the market share of engineering plastics. Moreover, these plastics can reduce the weight of automobiles by 40%. Continuous use of engineering plastics in automotive manufacturing contributes to raising the market demand.
Furthermore, emerging economies such as China, India, and Brazil are experiencing rapid industrialization and urbanization, leading to an increase in demand for engineering plastics in various applications such as automotive and construction.

Market Dynamics
Increasing Demand For Lightweight And High-Performance Materials
In the aerospace industry, the demand for lightweight materials is driven by the need to reduce the weight of aircraft, leading to improved fuel efficiency and reduced operating costs. Materials, such as carbon fiber composites, titanium alloys, and aluminum, are widely used in aerospace applications due to their lightweight and high-strength properties. Furthermore, lightweight materials can also improve the performance and safety of aircraft, leading to increased demand for these materials.
The consumer goods industry is also driving the demand for lightweight and high-performance materials. For instance, the use of engineering plastics in electronics, appliances, and sports equipment can reduce the weight of these products, making them more portable and user-friendly. Additionally, lightweight materials can enhance the performance and durability of these products, leading to increased demand.
The Volatility of Raw Material Prices
The volatility of raw material prices is a significant factor that is hampering the growth of the engineering materials market, as it can lead to higher production costs, reduced demand, and limited investment in the industry.
Moreover, the volatility of raw material prices can make it difficult for companies in the engineering materials market to plan and forecast their production costs and profits. This can lead to uncertainty and risk aversion, which may limit investment in the market and hinder its growth.

COVID-19 Impact Analysis
The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis
The global engineering plastics market is segmented based on type, end-user and region.
The Growing Demand For Low-Cost, High-Strength, And Excellent Chemical-Resistant Material
Polyethylene in the engineering plastics market holds the largest market share covering nearly 50% at the global level. The cost-effectiveness of the material is the primary market driving factor. Polyethylene is a cost-effective material compared to other engineering plastics, making it an attractive option for manufacturers across various industries. It is one of the most affordable polymers, making it accessible to a wide range of applications.
Furthermore, polyethylene offers excellent versatility in terms of its properties, making it ideal for use in different applications. It is available in various grades, such as high-density polyethylene (HDPE) and low-density polyethylene (LDPE), which have different properties and can be tailored to meet specific requirements.

Geographical Analysis
Asia-Pacific’s Strong Manufacturing Base For Engineering Plastics
Asia-Pacific holds the highest market share in the global engineering plastics market. Asia-Pacific has a strong manufacturing base, which has led to the growth of various industries, including automotive, construction, and electronics. The availability of a skilled workforce, low labor costs, and favorable government policies have attracted several manufacturers to the region, leading to increased demand for engineering plastics.

Competitive Landscape
The major global players in the market include BASF SE, Covestro, Celanese Corporation, Du Pont, Solvay SA, LG Chem, Sabic, Evonik Industries AG, Lanxess AG and Mitsubishi Engineering-Plastics Corporation.
Why Purchase the Report?

  • To visualize the global engineering plastics market segmentation based on type, end-user and region, as well as understand key commercial assets and players.
  • Identify commercial opportunities by analyzing trends and co-development.
  • Excel data sheet with numerous data points of engineering plastics market-level with all segments.
  • PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
  • Product mapping is available in Excel consisting of key products of all the major players.


The global engineering plastics market report would provide approximately 53 tables, 59 figures and 206 Pages.
Target Audience 2023

  • Manufacturers/ Buyers
  • Industry Investors/Investment Bankers
  • Research Professionals
  • Emerging Companies