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Super Engineering Plastics Market Trend | Growth, Trending, Key Drivers and On-Going Trends 2022-2030

Market Overview:

Engineered Plastic is a material exhibiting advanced mechanical and thermal properties. Generally the Engineering Plastic constitutes a group of plastics which distinguish themselves from commodity plastics primarily by demonstrating improved mechanical behavior over a wide range of stress and temperature. Basically all high temperature resistant plastics are being regarded as engineering plastics. The Super Engineering Plastics lie one level up on the spectrum of the Engineering Plastics. It exhibits comparatively more advanced properties such as high thermal and mechanical resistance, fire safety and great chemical properties. These characteristic features of the Super Engineering Plastics favor its demand over the commodity plastics. Modifying motor vehicles acts and growing environmental concerns in favor of conservation of natural resources such as iron and other metals fuelling the demand of Super Engineering Plastics for making bumper, dash boards and other under-hood automotive parts.

Competitive Analysis:

Key players in the Global Super Engineering Plastics Market Trend are Solvay SA (Belgium), Tosoh Corporation (Japan), DIC CORPORATION (Japan), TORAY INDUSRTIES, INC. (Japan), KUREHA CORPORATION (Japan), NHU Materials Co. (China), LION IDEMITSU COMPOSITES CO.,LTD (Japan), BASF SE (Germany), Huntsman International LLC. (U.S.), LG Chem. (South Korea).

Market Segmentation:

The Global Super Engineering Plastics Market is segmented on the basis of type, end use industries, and region. On the basis type the market is divided into Acrylonitrile butadiene styrene (ABS), Polyamide (PA), Polybutylene terephthalate (PBT), Polyethylene terephthalate (PET), Polyether ether ketone (PEEK), Polyphenylene sulfide (PPS), and others. Among these types, ABA is holding ~35% share of overall demand of Super Engineering Plastics owing to its applications in major end use industries such as automotive industry and other household use. In addition to automotive industry, ABS finds applications in manufacturing pipes for carrying drain-waste, enclosures of electrical assemblies, and protective headgears. Growing demand of ABS for making protective gears and high end plastic equipment in sports industry are expected to propel the product demand. Polyamide (PA) is second major segment in terms of overall demand of Super Engineering Plastics. Transport manufacturing industry is the major consumer of polyamide, which accounts for 35% of PA consumption. Apart from this, synthetic polyamides are also used in textile, carpet making, and sports industry. Moreover, polybutylene terephthalate (PBT) and Polyethylene terephthalate (PET) are also substantial type of Super Engineering Plastics. The major applications of PBT can be found in making insulating heads of housing electrical and automotive electronics and as a yarn in sportswear. Excellent water and moisture barrier ability of PET makes it useful in manufacturing bottles and containers for soft drinks and flexible food packaging material.

Based on end use industries the Global Super Engineering Plastics Market is segmented into Automotive & transportation, electrical & electronics, packaging, textile, sports and others. Automotive & transportation industry is the leading consumer of overall super engineering plastics. The Super Engineering Plastics are used to manufacture bumper and dash boards, electronics insulation, gasket and packaging in automotive. The growing demand of vehicles around the world is expected to drive the market of Super Engineering Plastics. Electrical & electronics industry also consume sizeable amount of Super Engineering Plastics in vast number of applications such as an insulator, enclosures in electronics assemblies of various equipment’s and devices. In household electrical, the applications of Super Engineering Plastics can be found in plug connectors and handle bars of high voltage electronic devices. Furthermore, packaging industry is one of the major end use industries of super engineering plastics. The PET bottles and cans are majorly used in packaging foods and beverages. Rapidly changing lifestyle has increased the use of packaged food which is anticipated to continue over the forecast period to propel growth of the Global Super Engineering Plastics Market.

Regional Analysis:

Geographically, the Global Super Engineering Plastics Market is divided into five key regions including Asia Pacific, North America, Europe, Middle East & Africa and Latin America. Asia pacific holds the major share of overall Super Engineering Plastics Market in terms of market size. It accounts for ~40% of the Global Super Engineering Plastics Market. India, China, and Japan are the leading markets in this region owing the growth of automotive & transportation industries in these countries. North America is also one of the significant region in the Global Super Engineering Plastics Market. U.S. is the major market in this region wherein aerospace and automotive sector is a primary consumer of super engineering plastics. Europe is a substantial region in the global super engineering plastics market. Countries namely Germany, U.K., France, and Italy are the major markets in this region due to the well-established automotive industry in these countries. The Middle East & Africa is estimated grow at considerable CAGR during the forecast period on account of growing investment activities and potential market in this region. Latin America is projected to join hands with the leading regions in the Global Super Engineering Plastics Market with pacifying political and economic situation in Brazil.

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