Latest industry research report on Engineering plastics, is a segment of the plastic industry, which are used in applications that require high performance with respect to heat, chemical, impact resistance, and mechanical strength. The nomenclature 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. Automotive, electricals/electronics, and packaging are the prominent end users of engineering plastics. In addition, coatings, composites, fiber optics, and surgical equipment are some of the applications of these materials.
Growth in trend of reducing vehicle weight and improving fuel efficiency is expected to boost the adoption of engineering plastics.
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Moreover, metal replacement in the construction and electrical & electronic industry is estimated to boost the market growth. Furthermore, spiraling growth of the 3D printing and photovoltaic industry would augment the consumption of engineering plastics. However, fluctuating price of crude oil, product commoditization, and regulatory challenges regarding CO2 emissions hamper the market growth.
The world engineering plastics market is segmented based on type, application, and geography.
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