SOURCE: MarketResearch.com

MarketResearch.com

April 02, 2013 03:08 ET

Market Research Report -- Global Engineering Plastics Market to Reach $113.7 Billion by 2020

ROCKVILLE, MD--(Marketwired - Apr 2, 2013) - MarketResearch.com has announced the addition of the market research report "Engineering Plastics - A Global Market Overview" to their product offering.

The emerging regions such as Asia, South America, Middle-East and developing regions from Europe have been witnessing sizeable growth prospects for engineering plastics. Growing purchasing power in the developing economies is seen as a key driver of demand for engineering plastics in these regions. Primary drivers for the same include hitherto unexplored opportunities of replacing metals not only in automobiles, but also in the areas of household appliances, construction and infrastructure, to name a few. For example, Asian economy has been thriving primarily due to advancements in the traditional sectors of automobiles, building and construction, business machines, electrical & electronics, household appliances, telecommunications and transportation. Engineering Plastics are being widely employed in auto parts, consumer goods and electrical & electronics applications.

Market for Engineering Plastics application areas analyzed in the study include automotive, electrical & electronics, building & construction, consumer goods & appliances, industrial applications and other. The report estimates and projects the global market for engineering plastics for the period 2010-2020, in terms of volume (metric tons) as well as value (US$ million) by geographic regions including North America, Europe, Asia-Pacific and Rest of World.

Global market for engineering plastics, estimated at 19.6 million metric tons in 2012, is further projected to maintain a CAGR of over 5% during 2012-2020 in reaching 29.1 million metric tons by 2020. In terms of value, demand for engineering plastics is projected to register a corresponding CAGR of 7.9% in reaching US$113.7 billion by 2020 from an estimated US$67 billion in 2013 and a forecast US$72.5 billion in 2014.

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