The developing prospect of engineering plastic
According to Markets and Markets study reports that in 2013, the global plastics market capitalization of about $ 53.58 billion, is expected to reach us $ 79.03 billion by 2018, a compound annual growth rate of 8%.
Engineering plastics due to its excellent stability, good heat resistance and chemical resistance and high strength, wide range of applications, the demand continues to grow rapidly. Engineering Plastics is one of the main uses of alternative metal in a variety of end applications in the industry. In particular, increasingly stringent environmental regulations require vehicles to reduce emissions and improve fuel economy, engineering plastics are widely used in automotive and transportation industries. In addition, engineering plastic widely used in consumer and home appliances, industrial machinery, packaging, electrical and electronic products, as well as health care, construction and other industries.
In 2014, the global plastics market in Asia Pacific, in 2013, 47.9% market share in the Asia-Pacific region accounts for the global plastics market needs. Expected in 2018 the Asia-Pacific region will continue to maintain the position of the world's largest engineering plastics market, followed by Western Europe for the next 5 years, average annual growth is estimated to be 7.8% of the engineering plastics market needs.