United States Engineering Plastics Market Introduction and Overview
According to SPER Market Research, the United States Engineering Plastics Market is estimated to reach USD 26.54 billion by 2033 with a CAGR of 6.71%.
The report includes an in-depth analysis of the United States Engineering Plastics Market, including market size and trends, product mix, applications, and supplier analysis. The term "Engineering Plastics Market" refers to the range of Performance polymer materials that are superior to more common commodity plastics like polystyrene, PVC, polypropylene, and polyethylene in terms of their mechanical and thermal characteristics. It has found enormous applications in a wide range of industries, including automotive, aerospace, building and construction, mechanical, and medical, due to its unique qualities, which include stability, flame resilience, chemical resilience, exceptional machinability, dimension constancy, wear resistance, and minimal damaging friction. Engineering plastics have effectively replaced other engineering materials like metal and wood by taking advantage of the industrial trend of "light weighting."
- February 2023; Makrolon 3638 polycarbonate was introduced by Covestro AG for use in healthcare and life sciences applications such as drug delivery devices, wellness and wearable devices, and single-use biopharmaceutical processing containers.
- November 2022; Celanese Corporation has finalized its acquisition of DuPont's Mobility and Materials ("M&M") business. This acquisition expanded the company's engineered thermoplastics product line by including well-known DuPont brands and intellectual property.
Market Opportunities and Challenges
Opportunities- The market for engineering plastics in the US has a great chance to expand thanks to notable developments in additive manufacture. The creation of intricate parts and prototypes using engineering plastics is being completely transformed by the growth of digital manufacturing, especially 3D printing. Additive manufacturing is being used more and more in sectors like consumer products, healthcare, and aerospace because it reduces material waste and allows for on-demand component customization. The U.S. market is positioned for strong growth and innovation as a result of ongoing developments in printing processes and materials that improve performance and increase the range of engineering plastics accessible.
Challenges- The high manufacturing cost of engineering plastics poses a substantial impediment to the U.S. engineering plastics market's growth. These materials require complex manufacturing procedures as well as specialized, environmentally controlled facilities to produce. Polyamide, polycarbonate, acrylonitrile butadiene styrene, polyacetal, and polyphenylene oxide are critical raw ingredients that must be polymerized or blended at high temperatures and under exact circumstances. This involves the use of specialized, capital-intensive manufacturing equipment and tooling. Furthermore, running costs are high since utilities such as electricity and fuel are required to keep the correct temperature and pressure levels throughout manufacturing. As many engineering plastic production processes include hazardous by products, the necessity for pollution control and waste management raises costs even higher.
Market Competitive Landscape
The United States Engineering Plastics Market is a highly competitive arena due to the rapid innovation and diversification of applications driving demand across multiple industries. Leading companies in the industry are BASF, Celanese Corporation, Covestro, DuPont, Eastman Chemical Company, LANXESS, Mitsubishi Engineering-Plastics Corporation, PolyOne Corporation, SABIC
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By End User industry, By Resin Type.
|
| Regions covered | Midwest Region, Northeast Region, South Region, Southwest Region, West Region.
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| Companies Covered | BASF, Celanese Corporation, Covestro, DuPont, Eastman Chemical Company, LANXESS, Mitsubishi Engineering-Plastics Corporation, PolyOne Corporation, SABIC. |
COVID-19 Impact on United States Engineering Plastics Market
The COVID-19 epidemic had a major effect on the engineering plastics market in the US, upsetting production procedures and supply chains. The first lockdowns caused a brief drop in demand from important industries including aircraft and automobiles. Nonetheless, there was a sharp increase in demand for engineering plastics used in protective gear and medical gadgets in the healthcare industry. The market is recovering, with a greater emphasis on sustainable materials and creative manufacturing techniques, as sectors adjust to new operational rules. This will ultimately fuel long-term growth in the engineering plastics industry.
Key Target Audience:
- Automotive Manufacturers
- Aerospace Companies
- Electronics Manufacturers
- Medical Device Companies
- Consumer Goods Manufacturers
- Construction and Infrastructure Firms
Our in-depth analysis of the United States Engineering Plastics Market includes the following segments:
| By End User Industry: | AerospaceAutomotivePackagingIndustrial and MachineryOthers |
| By Resin Type: | Fluoropolymer PolyimidePolybutylene Terephthalate PolyamidePolycarbonatePoly Ether ketoneStyrene CopolymersOthers |
Key Topics Covered in the Report:
- United States Engineering Plastics Market Size (FY’2024-FY’2033)
- Overview of United States Engineering Plastics Market
- Segmentation of United States Engineering Plastics Market By End User Industry (Aerospace, Automotive, Packaging, Industrial and Machinery, Others)
- Segmentation of United States Engineering Plastics Market by Resin Type (Fluoropolymer, Polyimide, Polybutylene Terephthalate, Polyamide, Polycarbonate, Poly Ether ketone, Styrene Copolymers, Others)
- Statistical Snap of United States Engineering Plastics Market
- Expansion Analysis of United States Engineering Plastics Market
- Problems and Obstacles in United States Engineering Plastics Market
- Competitive Landscape in the United States Engineering Plastics Market
- Impact of COVID-19 and Demonetization on United States Engineering Plastics Market
- Details on Current Investment in United States Engineering Plastics Market
- Competitive Analysis of United States Engineering Plastics Market
- Prominent Players in the United States Engineering Plastics Market
- SWOT Analysis of United States Engineering Plastics Market
- United States Engineering Plastics Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the United States Engineering Plastics Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. United States Engineering Plastics Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in United States Engineering Plastics Market
7. United States Engineering Plastics Market, By End User Industry (USD Million) 2020-2033
7.1. United States Engineering Plastics Market Size, Share and Forecast, By End User Industry, 2020-2026
7.2. United States Engineering Plastics Market Size, Share and Forecast, By End User Industry, 2027-2033
7.3. Aerospace
7.4. Automotive
7.5. Packaging
7.6. Industrial and Machinery
7.7. Others
8. United States Engineering Plastics Market, By Resin Type (USD Million) 2020-2033
8.1. United States Engineering Plastics Market Size, Share and Forecast, By Resin Type, 2020-2026
8.2. United States Engineering Plastics Market Size, Share and Forecast, By Resin Type, 2027-2033
8.3. Fluoropolymer
8.4. Polyimide
8.5. Polybutylene Terephthalate
8.6. Polyamide
8.7. Polycarbonate
8.8. Poly Ether ketone
8.9. Styrene Copolymers
8.10. Others
9. United States Engineering Plastics Market Forecast, 2020-2033 (USD Million)
9.1. United States Engineering Plastics Market Size and Market Share
10. United States Engineering Plastics Market, By Region, 2020-2033 (USD Million)
10.1. United States Engineering Plastics Market Size and Market Share By Region (2020-2026)
10.2. United States Engineering Plastics Market Size and Market Share By Region (2027-2033)
10.3. Midwest Region
10.4. Northeast Region
10.5. South Region
10.6. Southwest Region
10.7. West Region
11. Company Profile
11.1. BASF
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Celanese Corporation
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Covestro
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. DuPont
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Eastman Chemical Company
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. LANXESS
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Mitsubishi Engineering-Plastics Corporation
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. PolyOne Corporation
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. SABIC
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links