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Engineering plastics market to reach $90 billion

By: EUROPEAN PLASTICS NEWS

September 16, 2013

The global market for engineering plastics will be worth $90 billion in 2020, thanks to a growing demand for lighter and more efficient materials, according to a new report.

The Ceresana report says that the two biggest application types are electrical and electronics, and consumer goods. Together, they make up 25 percent of global demand.

The third largest market is transportation, followed by construction.

However, there are regional varieties, as transportation is the most important market in western Europe but consumer goods is the largest market in Asia.

Individual products also show distinct differences in regard to application areas. While transportation accounts for 35 percent of nylon consumption, household and consumer goods are the major consumers of ABS.