China engineering plastics industry has showcased an overwhelming performance by inclining at a CAGR of 13.6% during the period 2008-2013. This noteworthy performance in the industry was largely contributed by the major segments such as Polycarbonate, PET, ABS, Polyacetal and other engineering plastics products. These products have marked substantial growth in terms of revenue during this period. This growth was mainly driven through significant surge in demand from domestic as well as overseas markets. Additionally, the surge in revenue was also facilitated by increase in production capacity by major players operating in the industry.
Polycarbonate has been one of the key segments of China engineering plastics industry which has commanded the fastest growth in revenues during the period 2008-2013. The segment enhanced at a CAGR of 33.6% during this period, owing to wide ranging applications across various industries. This growth was followed by PET and Polyacetal, which witnessed a CAGR of ~% and ~% respectively. However, ABS grew at a lower CAGR of ~% as compared to other products, during the period 2008-2013, owing to increasing dependence on imports to fulfill domestic demand.
China’s engineering plastics industry was under existence during the last few years but showcased dramatic growth which was about three times higher to that of China’s GDP. This momentum of growth is expected to continue in the coming years as well at least in the medium run. The industry is projected to witness a vibrant growth rate, owing to development of newer applications of engineering plastics resin products. In addition to this, China is making rapid progress in auto part processing technology. Extensive applications of new processing equipment and relevant processes are estimated to trigger a growth in applications which will drive the growth of industry.
According to the research report “China Engineering Plastics Industry Outlook to 2018 - Surging Growth Owing to Emergence of Global Players” by Ken Research, Growing GDP of China and brighter economic conditions in the future will significantly impact the application of engineering plastics in the country in the future.
The report titled “China Engineering Plastics Market Outlook to FY’2019 - Surging Growth Owing to Emergence of Global Players” provides detailed overview on the Engineering Plastics Market of China and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in the coming years. The report will help industry consultants, automotive manufacturers and electrical and electronics manufacturers, plastics manufacturers, chemical manufacturers, and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.