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Global engineering plastic market value will increase 8%

2015-5-28 17:51:58

According to Markets and Markets’ latest research report, global engineering plastic market value is about $ 53.58 billion in 2013,also predicts that will up to $ 79.03 billion , increasing at 8% rate annually in 2018.Carbon Black Pigment

Engineering plastic is widely used in many fields because of its excellent stability, good heat resistance, chemical resistance and high intensity as well as it’s demand increasing. One of the main purposes of  engineering plastic is to be used in various terminal industry in place of metal. Particularly more and more strict environmental regulations requires car to reduce emissions and improve fuel economy, engineering plastic is now widely used in automobile and transportation industry. Moreover, engineering plastic is also widely used in consumption, household appliances, electrical and electronic products, industrial machinery, packaging, medical, architecture, etc. industry.Carbon Black N330

Currently, Asia-pacific region occupies the main market of global engineering plastic. According to statistics, Asia-pacific region accounts for 47.9% market share of global engineering plastic market demand. It predicts that Asia-pacific region will keep the positon of world’s largest engineering plastic market, then Western Europe market. The demand of engineering plastic market will increase at 7.8% rate annually in next five years.