Excellent thermal, chemical, and impact resistance in addition to remarkable mechanical strength continue to place engineering plastics above a majority of conventional engineering materials like metals, wood, glass, and ceramics. Their high compatibility for manufacturing in a host of desired shapes, and the relatively uncomplex manufacturing process are likely to uplift their preference as a viable alternative to standard engineering materials. The global engineering plastic compounds market size is slated to reach US$26.9 Bn by 2025 end. A new Fairfield Market Research report indicates a promising growth outlook for the global engineering plastic compounds market at 5.75% CAGR during 2021 – 2025.

The cost efficiency, and easy manufacturability of engineering plastic compounds allow for the exploration of a wide range of their commercial uses when compared with traditional material counterparts. In line with this, growing adoption in the 3D printing realm, as well as visibly increasing preference for food products packaging, and medical devices is set to shape up the future of market during 2021 – 2025.

An Enlarging Application Base Accounts for Heightening Sales of Engineering Plastic Compounds

With an extending application base of engineering plastics from industries like automotive, building and construction, to electrical and electronics, consumer goods and appliances, the market for engineering plastic compounds will remain on an uptrend. A large number of industrial application areas such as development corrosion-resistant, and abrasion-resistant liners also generate considerably high demand for engineering plastics, which will continue to be a major booster to sales of engineering plastic compounds. Booming prospects of automotive components, and electronic devices are expected to provide a solid impetus to market growth through the period of forecast. The market will continue to reap benefits of the superior performance attributes of engineering plastics over their commodity plastic counterparts.

EV Makers to Register Notable Uptake of Engineering Plastic Compounds

The ballooning market for electric vehicles (EVs) is being looked at as another strong factor pushing the demand for engineering plastic compounds worldwide. Sales are expected to experience a constant upswing as a result of rapid upsurge in sales of automotive components that account for lighter weight of vehicles, superior engine performance, and improved overall efficiency. Besides light weight, the cost efficiency, and endurance of engineering plastic compounds are projected to underpin their notable uptake by EV manufacturers. Companies are likely to leverage the design freedom that these compounds offer as the demand for custom-designed components continues to be on the rise across end-use industries.

Polycarbonates to Dominate Engineering Plastic Compounds Demand

Under its umbrella, the concept of engineering plastic compounds encompasses a large number of products – polyamide, styrenics (ABS & SAN), polybutylene terephthalate (PBT), polycarbonate, polymethyl methacrylate (PMMA), polyoxymethylene (POM), and thermoplastic elastomers (TPE) include a few to mention. Among the sought-after compounds, polycarbonate continues to lead the pack, thriving at an estimated 6.2% CAGR through 2025. Besides polycarbonates, it will be polyamides, and ABS to receive a push from the EV boom, forecasts Fairfield Market Research.

Competition Landscape Analysis

Besides BASF SE, and Covestro AG, some of the most prominent players competing in the global market include Asahi Kasei Advance Corporation, SABIC, Celanese Corporation, Idemitsu Kosan Company Ltd., Lanxess AG, RTP, Buss AG, Wittenburg Group, Piper Plastics, Triseo LLC, Daicel Polymer, Eurostar Engineering Plastics, and Formulated Polymers. Research finds that a notable number key players retain their preference for supply integration strategies in an effort to achieve cost, and performance optimisation. With more companies focusing on capacity expansion to cater to ascending demand from a broad range of application areas, Asia Pacific has been garnering greater preference for establishing their production plants.

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