Engineering Resins Market Overview:
Engineering Resins are a group of light weighted thermoplastic materials with enhanced properties such as rigidity, strength, impact and heat resistance, chemical stability and so on. A thermoplastics properties depend on its chemistry, structure, chain length and the bonds between the lengths. The resins polymerscan be changed by mixing some additives to that. This segment is divided basing on geography into America, Europe, Asia pacific and roW (rest of world) region. America is further divided among the countries/ region like US, Canada, Mexico, Brazil and others, Europe is further divided into U.K, France, Germany, Italy and others. AP is further classified into India, China, Vietnam, Indonesia, Japan and other countries. Row region comprises of African and the Middle East region.
Engineering Resins Market Outlook:
Engineering Resins are a group of strong plastic materials that have enhanced properties like Heat resistance, Strength, Chemical stability, Strength and so on. The engineering resins market has been segmented basing on type, application and end user industry. There are various types of engineering resins are there like Polycarbonate, polypropylene, Polyurethane, Poly Vinyl Chloride (PVC) and others. The engineering resins market is one of the most important and growing market in the plastic and polymer industrial sector. Different types of resins are used in various industries like Automobile industry, Construction industry, packaging and others. The usage of different kinds of Engineering resins has been increasing day by day, for example Acrylic is used in making windows, displays, screens and others and Polybutylene terephthalate is used as an insulator in electric industry.
Engineering resins Market Growth Drivers:
Engineering resign market is one of the emerging industry in polymers market. The demand is increasing because of its characteristics like rigidity, strength, impact and heat resistant, chemical stability and usage in various industries like Automotive, Electrical industry, Construction, medical and others. As it is cost effective almost all the automotive companies are using engineering resigns rather than going with the traditional process of using metal. Replacing the metal with thermoplastics is the major growth driver as usage of plastic instead of metals will reduce the weight of the product by 30%-40% and its feature of significantly lower tooling costs for high volume production is driving the market.
Engineering Resins Market Challenges
Despite of its advantages in various fields it is facing challenges when it comes to environment, as plastic creates a lot of environmental pollution. Because plastic bags create more harm than paper bags. Main problem is that bags which are not recycled are often end up in rivers and oceans which is causing pollution and damaging the sea life. Thousands of water creatures are getting smacked in millions of bags in rivers and oceans. One more challenge faced by engineering resins market is its unstable prices of oil. unstability in oil prices is effecting the export of plastic to other industries. As crude oil derivatives are the components for the manufacturing of plastic.
Engineering ResinsMarket Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Engineering resins market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Engineering resins market, and their specific applications in different types of vehicles.
Engineering ResinsMarket Report: Industry Coverage
Types of Engineering resins: Polyamide, Polyurethanes, Polybutylene Terephthalate(PBT), Polystyrene, Polypropylene, Polyvinyl Chloride, Polyethylene, ABS, Polycarbonate, Polyethylene, Polyoxymethylene, Acrylic, PET, ASA
Applications of Engineering resins in Industries: Automobile industry, Construction industry, packaging and others
Application on Engineering Resins: Bumpers, Chemical tanks, Insulators, inhalers and others
The Engineering Resins market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Engineering ResinsMarket Key Players:
Some of the other key players mentioned in this report are DuPont, BASF SE, Solvay SA, Sumitomo Chemical Co., Ltd, Honeywell International Inc, ARKEMA GROUP and others.
Engineering ResinsMarket Trends:
- DuPont a key player in plastic manufacturing is employing high performance polymers and elastomers to develop automotive components, this further reduces the weight, space, carbon di oxide emission and increases fuel efficiency. Key players in the automobile manufacturing are expected to employ similar best practices to meet environmental and consumer needs.
- Joint ventures has started to meet the future demands, AsahiKASEI and China national Bluestar has started a joint venture to meet the future requirements in Engineering resins. Usage of engineering resins in various industries like automobile, electric and construction industry is driving the market. Auto motive industry is expected to further strengthen the market because the metal parts are being replaced with Plastic which have high stability, strength and other factors. Recently usage of engineering resins has started in packing industry as well because resigns create outstanding durability and decorating flexibility.