DUBLIN, October 3, 2017 /PRNewswire/ --
The "Global Engineering Plastics Market 2017-2021" report has been added to Research and Markets' offering.
The global engineering plastics market to grow at a CAGR of 7.14% during the period 2017-2021.
Global Engineering Plastics Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Increasing capacity expansions. Owing to the growing demand from the automotive and electrical and electronics industries, several key vendors and prominent vendors are undertaking capacity expansions and joint ventures. This is mostly to maintain the market position in the global engineering plastics market. For instance, BASF, one of the key vendors, has amplified its production capacities in Schwarzheide, Europe, and Korea.
According to the report, one of the major drivers for this market is Demand for replacements of metals and fiber glass. The use of metals or thermosets is replaced by engineering plastics in the electrical and electronics, and automobile industries. This can be attributed to the lesser manufacturing cost, time, and higher tensile strength of the products. It is estimated that the cost can be reduced up to 50% by replacing metals with engineering plastics. In addition, engineering plastics help in achieving thinner-walled designs, which can easily replace thicker die casted metal parts.
Further, the report states that one of the major factors hindering the growth of this market is Degenerative properties of ABS. Acrylonitrile in ABS is considered as a carcinomic compound by the EPA. The release of acrylonitrile powder in the air during the manufacturing process can cause health hazards such as limb weakness, labored and irregular breathing, anemia, leukocytosis, and kidney irritation. Considered acceptable oral dose is 0.001 milligrams per kilogram per day. According to the EU Regulation (EU) No 10/2011, residues should not exceed 2.5% of the raw polymer. These stringent regulations by the governments are impeding the manufacture of ABS.
- Evonik Industries
- LG Chem
Other prominent vendors
- Mitsubishi Engineering-Plastics Corporation
- TORAY INDUSTRIES
- Royal DSM
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Type
Part 07: Market Segmentation By Geography
Part 08: Decision Framework
Part 09: Drivers And Challenges
Part 10: Market Trends
Part 11: Vendor Landscape
Part 12: Key Vendor Analysis
Part 13: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/ll9kc4/global
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SOURCE Research and Markets