GIA announces the release of a comprehensive global report on Engineering Plastics markets. World market for Engineering Plastics is projected to reach 23.5 million metric tons by the year 2017. Growth will be primarily driven by growing per capita consumption in developing countries and incremental technology developments geared towards enhancing the performance of the materials.
San Jose, California (PRWEB) March 09, 2012
Follow us on LinkedIn – Used in a wide gamut of industries, engineering plastics will continue to witness strong demand worldwide. one of the main factors affecting the engineering plastics market is the level and the rate of replacement of traditional materials. in the developed countries, there have been significant conversions from metal to engineering plastics in almost all key industries. in the developing countries, on the other hand, per capita consumption continues to remain low offering robust untapped potential for growth. Over the years, a number of different grades and types of engineering plastics have been developed by subjecting polymers to a variety of chemical reactions in different combinations. Nylon, Acetal, Teflon and Polycarbonate mainly comprised the engineering plastic family in the beginning. However, the group has been consistently growing since then to encompass a continuously increasing list of plastics that fall under this category.
Environmental concerns are playing an important role in influencing the development of engineering plastics. in this regard, Natural oils including soybean, corn, and linseed are being increasingly used as monomers. Water-soluble polymers have also grown in popularity. the medical end-use industry is expected to witness the strongest growth. Surgical medical instrumentation, such as scalpels and syringes, diagnostic equipment casings, and research application tools represent some of the high growth areas projected for engineering plastics. Thermoplastic polyester would continue to be the leading engineering resin with thermoplastic elastomers and polycarbonate showing premium growth owing to increased requirements for impact resistance, clarity, and tactility among other features. Specialty thermoplastics, such as polysulfone and polyetheretherketone would also exhibit a strong growth in electromedical and x-ray equipment, and in medical as well as surgical instruments.
Global demand for polycarbonate is expected to continue to witness sturdy gains, given the robust turnaround in demand in electrical, electronic, automotive industries. Growth will also be supported by expansion of application areas beyond the conventional electronic industry and into newer industries, such as, automotive, construction, and medical products, among others. Automotive engineering, especially, is expected to significantly drive demand for polycarbonate resins, which are increasingly being utilized in the manufacture of rear side windows, panorama roofs, interior cabin panels, radiator grills, engine parts, throttle bodies and in air-intake manifolds, among others. Over the next decade, Nylon is forecast to emerge into a major material in numerous under the hood applications.