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Engineering Plastics Market report guides how, when and where to expand the business by making right investment. Potential competitors are identified here along with allow business players to increase the product portfolio. Customers’ wants and a clear view on future business growth are provided in this Engineering Plastics Market study report. Right investment in the product development has great importance in the increase of product sales. It also allows attaining the comprehensive understanding of how customers perceive products. It also reveals how their requirements are shaped as well as influenced and how they choose the product launch on the basis of them. Novel product launch ideas provided here work as the perfect guide for the key participants to augment the product sales.

Key Players

Key players mentioned in the report are as follows -

BASF SE

Covestro AG

Solvay SA

Celanese Corporation

DuPont de Nemours, Inc.

LG Chem Ltd.

SABIC

Evonik Industries AG

Lanxess 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 2022-27. 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.

Segment Analysis:

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 2021. 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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Engineering Plastics Market research report also has the potent to bring overlooked and abandoned consumers back into focus by covering all the important market and customer data. It further assists to raise the business success rates. It spots out consumer requirements and augments the future engagements of the firm with them. Important findings are covered in this Engineering Plastics Market study report to help newly emerging industry players to establish their business in the cut-throat market. Studying customer behavior is significant as it assists them factors that can change customers’ buying decision making. By having complete understanding of how customers decide on particular product or service launch, central participants are able to spot out the products and fill in the gap which are required and the products that are outdated. This Engineering Plastics Market report permits novice players to have best understanding regarding target market and create products, which are going to fascinate novel customers, sell and develop brand loyalty. Engaging customers is one of the leading factors to attain precise and actionable insights, which drive the rapid product development. All the customer related factors including their motivations, inclinations and buying nature are all covered here.

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