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Report
China Engineering Plastics - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029
Market Report I 2024-02-17 I 261 Pages I Mordor Intelligence
The China Engineering Plastics Market size is estimated at USD 43.17 billion in 2024, and is expected to reach USD 61.78 billion by 2029, growing at a CAGR of 7.43% during the forecast period (2024-2029).
Packaging to lose its market share by volume to the electrical and electronics industry
- Engineering plastics have applications ranging from interior wall panels and doors in the aerospace industry to rigid and flexible packaging. The Asia-Pacific engineering plastics market is led by the packaging, electrical and electronics, and automotive industries. The packaging electrical and electronics industries accounted for around 39.65% and 35.86%, respectively, of the engineering plastics market by volume in 2022.
- In 2020, China's engineering plastics consumption fell by 2.88% by volume over the previous year due to disruptions in the global supply chain. However, consumption recovered in 2021 and continued to grow steadily, increasing by 2.35% in volume in 2022.
- The packaging industry consumes the highest amounts of engineering plastics in the country due to the large-scale production of plastic bottles used in the packaging of beverages, drinking water, personal care, and household care products, among others. China is the largest e-commerce market globally, with its share amounting to almost 50%. The country's e-commerce market is projected to reach a revenue of around USD 2.3 trillion in 2027 from USD 1.4 trillion in 2023. In 2022, the industry consumed 7.09 million tons of resin, which is expected to reach 9.6 million tons by 2029. All these factors boost the industry's consumption, which is expected to record a CAGR of 6.47%, by value, during the forecast period.
- Automotive is the fastest-growing end-user industry of the Chinese engineering plastics market, expected to record a CAGR of 9.40% by revenue during the forecast period. This is in line with the industry's increasing demand for lightweight engineering plastic composites, such as polycarbonate, polyamide, and fluoropolymer, for use in vehicle components due to their benefits such as high-temperature use, chemical inertness, resistance to abrasion, and non-leaching capabilities that ensure consistent performance.
China Engineering Plastics Market Trends
China to remain a global electronics manufacturing hub
- China witnessed a 14.5% increase in the revenue of its electrical and electronics industry from 2020 to 2021.? Of these, the output of telecom equipment manufacturers registered a Y-o-Y gain of 8.6% in the first four months, while mobile phone output shrank by 10.9% from the previous year. The output of computer manufacturers registered a 3.9% growth in 2020 from the previous year.
- The output of laptops and tablet computers dropped by 31.1% and 24.5%, respectively, in 2020 due to the COVID-19 pandemic-related disruptions.
- However, during the same period, the demand for electrical and electronic products increased owing to the rising demand for electronics and gaming. In 2021, the total profit of Chinese electronic manufacturing enterprises grew by 38.9% over the previous year, reaching CNY 828.3 billion, recording the highest growth rate in the given period. After experiencing a decrease in 2018, the industry's profits rose quickly from 2019 to 2021.?
- China domestically manufactures 85% of the electronics used in its defense industry, and the ratio of domestically manufactured essential electronic parts in defense and high-tech equipment rose from 30% to 85%.? China remains an important global manufacturing base for consumer electronics, attracting the world's major electronic producers to establish manufacturing bases and research and development centers. Such developments boosted electronics production in 2022, ranking the country first in terms of global production. Such factors are expected to drive production in the electrical and electronics industry during the forecast period.
China Engineering Plastics Industry Overview
The China Engineering Plastics Market is fragmented, with the top five companies occupying 31.57%. The major players in this market are CHIMEI, China Resources (Holdings) Co.,Ltd., Far Eastern New Century Corporation, Formosa Plastics Group and Sanfame Group (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 EXECUTIVE SUMMARY & KEY FINDINGS
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 End User Trends
4.1.1 Aerospace
4.1.2 Automotive
4.1.3 Building and Construction
4.1.4 Electrical and Electronics
4.1.5 Packaging
4.2 Import And Export Trends
4.3 Price Trends
4.4 Recycling Overview
4.4.1 Polyamide (PA) Recycling Trends
4.4.2 Polycarbonate (PC) Recycling Trends
4.4.3 Polyethylene Terephthalate (PET) Recycling Trends
4.4.4 Styrene Copolymers (ABS and SAN) Recycling Trends
4.5 Regulatory Framework
4.5.1 China
4.6 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
5.1 End User Industry
5.1.1 Aerospace
5.1.2 Automotive
5.1.3 Building and Construction
5.1.4 Electrical and Electronics
5.1.5 Industrial and Machinery
5.1.6 Packaging
5.1.7 Other End-user Industries
5.2 Resin Type
5.2.1 Fluoropolymer
5.2.1.1 By Sub Resin Type
5.2.1.1.1 Ethylenetetrafluoroethylene (ETFE)
5.2.1.1.2 Fluorinated Ethylene-propylene (FEP)
5.2.1.1.3 Polytetrafluoroethylene (PTFE)
5.2.1.1.4 Polyvinylfluoride (PVF)
5.2.1.1.5 Polyvinylidene Fluoride (PVDF)
5.2.1.1.6 Other Sub Resin Types
5.2.2 Liquid Crystal Polymer (LCP)
5.2.3 Polyamide (PA)
5.2.3.1 By Sub Resin Type
5.2.3.1.1 Aramid
5.2.3.1.2 Polyamide (PA) 6
5.2.3.1.3 Polyamide (PA) 66
5.2.3.1.4 Polyphthalamide
5.2.4 Polybutylene Terephthalate (PBT)
5.2.5 Polycarbonate (PC)
5.2.6 Polyether Ether Ketone (PEEK)
5.2.7 Polyethylene Terephthalate (PET)
5.2.8 Polyimide (PI)
5.2.9 Polymethyl Methacrylate (PMMA)
5.2.10 Polyoxymethylene (POM)
5.2.11 Styrene Copolymers (ABS and SAN)
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
6.4.1 Chang Chun Group
6.4.2 CHIMEI
6.4.3 China Petroleum & Chemical Corporation
6.4.4 China Resources (Holdings) Co.,Ltd.
6.4.5 Covestro AG
6.4.6 Dongyue Group
6.4.7 Far Eastern New Century Corporation
6.4.8 Formosa Plastics Group
6.4.9 Henan Energy Group Co., Ltd.
6.4.10 Highsun Holding Group
6.4.11 Jilin Joinature Polymer Co., Ltd.
6.4.12 PetroChina Company Limited
6.4.13 Sanfame Group
6.4.14 Shenzhen Wote Advanced Materials Co.,Ltd.
6.4.15 Zhejiang Hengyi Group Co., Ltd.
7 KEY STRATEGIC QUESTIONS FOR ENGINEERING PLASTICS CEOS
8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter's Five Forces Framework (Industry Attractiveness Analysis)
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
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