Engineering Plastics Market Analysis | 2025-2032

Engineering Plastics Market Insights

The engineering plastics market was estimated at USD 120.5 billion in 2024 and is likely to grow at a CAGR of 5.4% during 2025-2032 to reach USD 185.6 billion in 2032.

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Market Dynamics

Introduction

Engineering plastics are specifically designed to possess superior mechanical and thermal performances as compared to conventional plastics. These materials are used where components need better strength, wear, and heat resistance, chemical and corrosion resistance. Some of the kinds of engineering plastic are listed as follows namely, polycarbonate, nylon, acrylonitrile butadiene styrene (ABS), and polyoxymethylene (POM).

Automotive, aerospace, and electronics industries are widely used for manufacturing parts such as gears, bearings, housing connectors, and so on. Engineering plastics on the other hand can perform better under conditions of higher stress and temperatures, unlike conventional plastics. Due to their flexibility and resistant characteristics, they play various crucial roles in the contemporary production and construction industries.

Market Drivers

The prime factors driving the engineering plastics market are

• The rapidly increasing demand from the automotive, aerospace, and electronic sectors to manufacture lightweight vehicles.

• Increasing penetration of engineering plastics in the construction sector is also a major factor driving market growth.

• Engineering plastics are gaining popularity in the construction sector due to their versatility, strength-to-weight ratio, durability, and corrosion-resistance properties.

Segments Analysis

By Product Type

“The thermoplastic polyesters segment dominates the market.”

The engineering plastics 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.

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.

By End-Use Industry Type

“The automotive & transportation segment dominates the market.”

The market is segmented into automotive & transportation, electrical & electronics, industrial & machinery, packaging, consumer appliances, medical, and others. The automotive & transportation segment dominates the market, owing to the increasing usage of lightweight materials to address the industry challenges of increasing carbon emissions and increasing fuel efficiency. Automotive interior, exterior, hood, and powertrain are some of the major applications of the automotive & transportation segment.

Regional Insights

“Asia-Pacific is the largest market during the forecast period.”

China, Japan, and India are the major countries with lucrative growth opportunities. The growth of the region’s market is mainly driven by increasing urbanization, and the substitution of many metals for 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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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.

The following are the key players in the engineering plastics market (arranged alphabetically).

• BASF SE
• Celanese Corporation
• Covestro AG
• DuPont de Nemours, Inc.
• Evonik Industries AG
• Lanxess AG
• LG Chem Ltd.
• Mitsubishi Engineering Plastics Corporation.
• SABIC
• Solvay SA

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at [email protected]

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s engineering plastics market realities and future market possibilities for the forecast period of 2025 to 2032. After a continuous interest in our engineering plastics market report from the industry stakeholders, we have tried to further accentuate our research scope to the engineering plastics market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

Market Segmentation

This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The engineering plastics market is segmented into the following categories:

By Product Type

• Acrylonitrile Butadiene Styrene
• Polyamide
• Polycarbonate
• Thermoplastic Polyesters
• Polyacetals
• Fluoropolymers
• PEEK
• Polyphenylene Sulfide
• Polyphenylene Oxide
• PMMA
• Others

By End-Use Industry Type

• Automotive & Transportation
• Electrical & Electronics
• Industrial & Machinery
• Packaging
• Consumer Appliances
• Medical
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].