India engineering plastics market is projected to exhibit a CAGR of over 13% during 2015 - 2020, as per Research and Markets. Major players operating in India engineering plastics market include Styrolution ABS, SRF, Bhansali Engineering Polymers, DuPont, and Ester, among others.
Growth in the market is anticipated on account of increasing application in various industries, wherein engineering plastics are fast emerging as substitutes to traditional engineering materials like wood and metal, owing to their superior physical and mechanical properties. In 2014, Acrylonitrile-Butadiene Styrene (ABS) was the most dominant segment in the country's engineering plastics market, followed by polycarbonate, styrene-acrylonitrile copolymer (SAN), polyamide and Polybutylene terephthalate (PBT).
Engineering plastics are thermoplastics used for application in areas that require high performance materials offering high resistance to heat and chemical exposure, superior tensile strength and fire retardancy. Automotive and electrical & electronics industries are the major consumers of engineering plastics in India, on account of their suitability for manufacturing a variety of auto parts, and lighting and electrical equipment like switchgears, sockets, enclosures, etc. Increasing disposable income, changing consumer lifestyle, and rapid urbanization and industrialization are driving automotive manufacturing in India, thereby propelling the demand for engineering plastics in the country. Moreover, adoption of lightweight technology in various industries is further fueling growth in India engineering plastics market, as the use of engineering plastics results in weight reduction as well as performance enhancement, along with fostering environmental sustainability.
18-Sep-15 
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