APAC to emerge as key growth engine for global market for engineering plastics

A study by Reportlinker analyzes the engineering plastics market by key end-user segments: transportation, electrical and electronics, consumer goods, medical, construction, packaging, and other miscellaneous applications. The study covers the important competitive factors in the market and provides market share analysis by company for each product segment. Key Findings of the report include: -The global engineering plastics market is growing, boosted by the increasing demand from the Asia-Pacific (APAC) region. -The electrical and electronics end-user segment accounted for the highest volume consumption share in 2013. Because many engineering plastics have gained significant acceptance in this end-user segment, the segment is mature. Increasing production activities from APAC will likely boost growth in the electrical and electronics end-user segment. -Miniaturization trend is affecting the volume consumption of the market. -Product segments such as polymethyl methacrylate (PMMA), polycarbonate (PC) and polybutylene terephthalate (PBT) are expected to post high growth rates between 2014 and 2020. -Acrylontirle butadiene styrene (ABS) is the biggest product segment in the market; however, it is highly commoditized and expected to post the lowest growth rate. -Transportation is the next biggest end-user segment. The ongoing metal substitution trend is expected to keep the market growing for engineering plastics in this end-user segment. -Trends such as lightweighting, use of recyclable materials, fuel efficiency, and advanced vehicle designs will continue to drive the automotive sector. -The increase in electric vehicle production will likely impact the growth for engineering plastics in the forecast period. -The consumer goods end-user segment holds a significant volume share and is expected to post low growth rates because of maturity. The commoditized nature of this end-user segment poses a challenge of reduced profit margins for companies. -The increased spending capacity in APAC, which is increasing the demand for production of consumer goods, will fuel growth in this end-user segment. -Construction is the highest growth end-user segment in the engineering plastics market. Growth is spurred by increasing construction activities in APAC. -Low-volume end-user segments such as medical will witness increased penetration of engineering plastics, aided by the development of new medical grades. Lightweighting is a prevalent trend in the segment, which will further enhance the demand for engineering plastics. -The growth of other low-volume packaging will depend on the segment. While some product segments are expected to post mature growth, products such as PMMA are expected to post high growth rates.