Pune, India -- (SBWIRE) -- 12/27/2018 -- Regional Analysis:
Asia Pacific, North America, Europe, Middle East & Africa, and Latin America are the five key regions in the Global Super Engineering Plastics Market. Among them Asia Pacific is the fastest growing market on account of the huge consumption of the product in this region. The region accounts for ~45% share of the global super engineering plastics market, which is attributed to the growing automotive and transportation industry. India, China, and Japan are the major markets in this region owing to the established automotive and electronics industries in these countries. North America is second most significant region in the Global Super Engineering Plastic Market. Aerospace and automotive industries in U.S. is witnessing a steady rise in demand of the super engineering plastics. Europe is another substantial region in the Global Super Engineered Plastic Market. There is growing demand of this product for manufacturing packaging material for food and container bottles for beverages. Countries namely Germany, U.K., France and Italy, are the major markets in this region on account of established automotive industries. Automotive industry is increasingly making use of Super Engineering Plastics for manufacturing the number of under-hood parts. The Middle East & Africa is growing at significant rate owing to the growth potential of hitherto untapped market in automotive, sports and construction sectors. U.A.E, Qatar, and Saudi Arabia are likely to lead the regional market throughout the forecast period. Lastly, Latin America is anticipated to gain momentum due to the economic and political stability in Brazil.
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Segmentation:
The Global Super Engineering Plastics Market is segmented on the basis of type, end use industries, and region. On the basis of type the market has been divided into Acrylonitrile butadiene styrene (ABS), Polyamide (PA), Polybutylene terephthalate (PBT), Polyethylene terephthalate (PET), Polyether ether ketone (PEEK), Polyphenylene sulfide (PPS), and others. Among them, ABS is holding major share of overall demand of super engineering plastics. Based on end use industries the global super engineering plastic market is segmented into Automotive & transportation, electrical & electronics, packaging, textile, sports and others. Geographically, the market is divided into five key regions namely Asia Pacific, North America, Europe, Middle East & Africa, and Latin America.
Industry Overview
Engineering Plastics are a group of Plastic materials that have better mechanical and thermal properties than most widely used commodity Plastics. Super Engineering Plastics are at the highest end of the spectrum of engineering plastics with very high strength and thermal resistance. There are some important properties exhibited by the Super Engineering Plastics, which includes resistant to impact, heat and abrasion, high mechanical strength, self-lubricant, fire safety and chemical stability. These properties of the super engineered plastics make it the material of choice in vast number of industries as well as domestic applications. The Super Engineering Plastics are generally used in high temperature, high stress, and harsh environmental conditions. Applications of the super engineering plastics can be found in diverse industries including automotive and transportation, electrical & electronics, packaging, healthcare, textiles, and sports. The Super Engineered Plastics find their uses in manufacturing bumpers and dash boards of automobile, and pipes for carrying drain-waste. Being a good insulator they are used in making handlebars and plug connectors of electronic devices.
The characteristic features of Super Engineering Plastics, such as high heat, impact and abrasion resistance along with the chemical stability and ability to operate in harsh environmental conditions, are the favoring the growth in its demand over widely used commodity plastics namely polystyrene, PVC, polyethylene and others. Modifying motor vehicle acts are compelling use of the bumpers made of the Super Engineering Plastics to reduce death rates in case of car dash. This in turn is expected to fuel demand of the product over the forecasted period. The growing automotive and transportation industry accounts for major share of overall demand of the super engineering plastics. During the forecast period automotive industry is estimated to grow at highest CAGR, thereby expected to drive growth of the Global Super Engineering Plastics. Apart from automotive and transportation industry, demand of electrical & electronics industry in heading north owing the growth in use of portable and other household electronic devices. However, being more expensive Super Engineering Plastics are produced in smaller quantities and tend to be used for low-volume applications rather than high-volume ends. Nevertheless, in coming years, the technological advancements through R&D is anticipated to bring a plastic material which will be cheaper and stronger at the same time in the market.
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