The market research report, entitled Engineering Plastics shows good possibilities in the Engineering Plastics market during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges and key players in the market.
Global Engineering Plastics Market Forecast:
The global Engineering Plastics market is forecasted to grow at a rate of xx% CAGR during the period of 2021-2026. Engineering Plastics Market will be experiencing an escalation in demand attributed to the growing usage of Engineering Plastics in the market. The Engineering Plastics market growth depends upon numerous factors which have direct or indirect impact on the demand. Our report has the summary of such factors derived using SWOT, PEST, industry life cycle and supply chain analysis. These methods help in analysing the strength of the companies and identify gaps as well as opportunities to lay out a successful roadmap which leads to higher profitability.
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Impact of COVID-19 on Engineering Plastics Market
As the world grapples with one of its greatest health pandemic, the economic and social disruption has affected millions of enterprises. The revenues have gone down in the year 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition. Stratview Research throws light on in-depth insights related to rapid alterations in the key players in each industry, growth and decline due to COVID-19, etc. The researchers at Stratview Research are regularly connecting with the clients and other key players of almost all the industries, regarding the impact of COVID-19 on their businesses.
Key Players involve in this research are:
DuPont de Nemours, Inc.
LG Chem Ltd.
Evonik Industries AG
Mitsubishi Engineering Plastics Corporation.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Engineering Plastics Market value and growth drivers over the trend period of 2021-26. According to the report –
Engineering plastics market is likely to witness an impressive CAGR of 7.6% during the forecast period. The prime factor that is contributing to the demand for engineering plastics is mainly the rapidly increasing demand from automotive sector to manufacture lightweight vehicles. Increasing penetration of engineering plastics in the construction sector is also a major factor driving the growth of the market. Engineering plastics are gaining popularity in the construction sector due to their versatility, strength-to-weight ratio, durability, and corrosion-resistance properties.
Based on Product Type:
Based on the product type, the market is segmented as acrylonitrile butadiene styrene, polyamide, polycarbonate, thermoplastic polyesters, polyacetals, fluoropolymers, peek, polyphenylene sulfide, polyphenylene oxide, PMMA, and others. The thermoplastic polyesters segment held the largest share of the market in 2019. On the other hand, the polyacetal segment is expected to register the fastest growth during the forecast period. Thermoplastic polyesters are the most widely used engineering plastics across the world and their popularity is mainly due to their high strength-to-weight-ratio, lightweight, excellent chemical resistance, and easy recyclability properties.
Based on Region:
In terms of regions, Asia-Pacific is estimated to be the largest market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the region’s market is mainly driven by the increasing urbanization, and substitution of many metals by suitable engineering plastics in various industries, such as packaging and automotive. Increasing automotive production in the region is one of the major factors driving the growth of the region’s market. The abundant availability of raw materials in the region is a core factor that is propelling the growth of the market.
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What you can explore with this report-Analyse and forecast the size of Engineering Plastics Industry market. Estimate the market shares of major segments. Showcase the development of the Engineering Plastics Industry market in different parts of the world. Know the details about the factors affecting the growth of the Engineering Plastics market by Country and Individual Segments. Know about different and crucial business strategies used by leading companies operating in the Engineering Plastics market.
Customization of the Report:
With this detailed report, Stratview Research also offers customization options to its clients to meet their requirements. Please connect with our sales team at email@example.com. You can also get in touch with us on (+1-313-307-4176) to share your research requirements.
What we do:
Stratview Research is one of the leading global Market Research agencies helping client’s tract the ever-evolving market scenarios through our customized and syndicated reports. Our reports include both quantitative and qualitative market data, gathered with the help of our across-the-board and reliable secondary sources and our in-depth interviews with the key players within the market. Our market valuations, derived from primary and secondary research, keep our clients informed about major market trends, opportunities, and challenges that may help or hamper their growth prospects in the industry