Global Engineering Plastics Market worth $76,823.4 M by 2017

Thursday 12 July 2012, Amsterdam

The report "Global Egineering Plastics Market Analysis by Product Types, Applications & Geography - Trends & Forecasts (2012 - 2017) ", defines and segments the global engineering plastics market with analysis and forecasting of the global volumes and revenues for engineering plastics. It also identifies driving and restraining factors for the global engineering plastics market with analysis of trends, opportunities, winning imperatives, and challenges. The market is segmented and revenues are forecasted on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World (ROW). The key countries are covered and forecasted for each geography. Further, market is segmented and revenues are forecasted on the basis of applications and product types.

The market for engineering plastics is being driven by the expansion of existing application markets and emergence of new markets. Engineering Plastics possess superior mechanical, chemical, and thermal properties along with light weight and high strength characteristics that allow these plastics to replace metals and glass in many applications. Engineering plastics offers dimensional stability with high impact, temperature, flame, and moisture resistance. The presence of such diverse properties makes them suitable for use in myriad and diverse applications. The applications for engineering plastics ranges from automotives and electrical and electronic components to medical, construction, industrial and consumer appliances.

Automotive and transportation industry is the largest end use application for engineering plastics. The growing trend towards lower vehicle weight, lower emissions and enhanced fuel efficiency is expected to drive the consumption growth of engineering plastics in the automotive and transportation industry. The high sales growth of the passenger cars in emerging markets such as China and India is also expected to boost the market. Electrical and electronics is the second largest application for engineering plastics where they are increasingly being used in LV switchgear, mini circuit breakers or residual circuit devices electrical installation, lighting such as lamp fitting, ESL lamp base, luminaries and connectors etc.

The global market for engineering plastics in terms of revenue was estimated to be worth $45,232.2 m in 2011 and is expected to reach $76,823.4 m by 2017, growing at a CAGR of 9.1% from 2012 to 2017. Asia-Pacific dominates the global engineering plastics market, accounting for 38.3% of the overall market in 2011. The growth in the Asia-Pacific market is expected to be fuelled by countries such as China and India.