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Global Engineering Plastics Market to Reach 24.6 Million Metric Tons by 2026

Strategic Insights

— 1 min read

Amidst the COVID-19 crisis, the global market for engineering plastics is projected to grow from 19 million metric tons in 2020 to 24.6 million metric tons by 2026, representing a compound annual growth rate (CAGR) of 4.3%. The market is expected to be driven by the increasing demand for engineering plastics in various industries such as automotive, electrical and electronics, and appliances. The global market for engineering plastics is estimated to reach $24.6 billion by 2026, with the United States and China being the largest markets.

Key Takeaways:

  • The global engineering plastics market is projected to reach 24.6 million metric tons by 2026, growing at a CAGR of 4.3% over the analysis period.
  • The Acrylonitrile-Butadiene-Styrene (ABS) segment is projected to record a 4.4% CAGR and reach 10.4 million metric tons by the end of the analysis period.
  • The Polycarbonate segment is expected to experience a CAGR of 4% over the next 7-year period.
  • The U.S. market for engineering plastics is estimated at 5.3 million metric tons in 2021, while China is forecast to reach 5.2 million metric tons by 2026.
  • The Nylon segment is expected to reach 4.2 million metric tons by 2026, with the USA, Canada, Japan, China, and Europe driving the 3.8% CAGR estimated for this segment.
  • The global engineering plastics market is expected to be driven by the increasing demand for engineering plastics in various industries such as automotive, electrical and electronics, and appliances.

Statistics:

  • Global engineering plastics market size: 19 million metric tons in 2020, projected to reach 24.6 million metric tons by 2026.
  • CAGR: 4.3% over the analysis period.
  • Acrylonitrile-Butadiene-Styrene (ABS) segment CAGR: 4.4%.
  • Polycarbonate segment CAGR: 4% over the next 7-year period.
  • U.S. engineering plastics market size: 5.3 million metric tons in 2021.
  • China engineering plastics market size: 5.2 million metric tons by 2026.
  • Nylon segment size: 4.2 million metric tons by 2026.
  • USA, Canada, Japan, China, and Europe expected to drive 3.8% CAGR for the Nylon segment.

Sources:

  • Global Industry Analysts Inc., "Engineering Plastics - Global Market Trajectory & Analytics" (April 2021)
  • Global Industry Analysts Inc., "MarketGlass(TM) Platform" (2021)
  • Global Industry Analysts Inc., "StrategyR.com" (2021)
  • Zak Ali, Director, Corporate Communications, Global Industry Analysts Inc. (2021)

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