The global market value of engineering plastics amounted to nearly 81 billion U.S. dollars in 2018. With a compound annual growth rate of 7.2 percent, this market is expected to increase to 115.1 billion U.S. dollars by 2023.
Engineering plastics refers to a group of plastic that have better thermal and/or mechanical properties than commodity plastics. The market growth that is expected for engineering plastics is largely due to increasing demand from the automotive and transportation sector, for applications such as connected vehicles and vehicle lightweighting, among others.
Market value of engineering plastics worldwide in 2018 and 2023
(in billion U.S. dollars)
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MarketsandMarkets. (September 1, 2018). Market value of engineering plastics worldwide in 2018 and 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 20, 2024, from https://www.statista.com/statistics/1134773/global-engineering-plastics-market-size/
MarketsandMarkets. "Market value of engineering plastics worldwide in 2018 and 2023 (in billion U.S. dollars)." Chart. September 1, 2018. Statista. Accessed November 20, 2024. https://www.statista.com/statistics/1134773/global-engineering-plastics-market-size/
MarketsandMarkets. (2018). Market value of engineering plastics worldwide in 2018 and 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 20, 2024. https://www.statista.com/statistics/1134773/global-engineering-plastics-market-size/
MarketsandMarkets. "Market Value of Engineering Plastics Worldwide in 2018 and 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 1 Sep 2018, https://www.statista.com/statistics/1134773/global-engineering-plastics-market-size/
MarketsandMarkets, Market value of engineering plastics worldwide in 2018 and 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1134773/global-engineering-plastics-market-size/ (last visited November 20, 2024)
Market value of engineering plastics worldwide in 2018 and 2023 (in billion U.S. dollars) [Graph], MarketsandMarkets, September 1, 2018. [Online]. Available: https://www.statista.com/statistics/1134773/global-engineering-plastics-market-size/
