According to Research Intelo, the global engineering plastics market reached USD 119.3 billion in 2024 and is projected to expand at a compound annual growth rate of 6.7 percent to USD 204.2 billion by 2033. The outlook reflects sustained demand from automotive, electrical and electronics, and construction applications, where lightweighting, durability and high performance remain priorities. Engineering plastics are a class of polymers characterized by higher mechanical strength, heat resistance and chemical stability compared with standard plastics. Their capacity to replace metals and other conventional materials helps reduce vehicle mass with potential fuel efficiency gains, and can support energy efficiency in industrial equipment. Use spans automotive, electronics, aerospace, packaging, medical devices and consumer goods. In electrical and electronic components, properties such as electrical insulation, flame resistance and toughness underpin adoption in connectors, switches, circuit breakers and device housings. Regionally, Asia-Pacific leads on the back of robust manufacturing activity, while North America and Europe record steady growth driven by innovation and regulatory incentives for lighter vehicles. Adoption is also increasing in Latin America and the Middle East.
Market drivers
Industries continue to substitute metals with engineering plastics to achieve weight reduction and durability targets in end products. In transport and machinery, this shift can lower overall mass, improve fuel economy in vehicles and contribute to efficiency in industrial systems.
Growth in electronics and electricals
Demand for polycarbonate and polyamides is supported by electrical insulation performance, flame resistance and mechanical robustness. These materials are used in components including connectors, switches, circuit breakers and housings for electronic devices.
Regional dynamics
Asia-Pacific, led by China, India, Japan and South Korea, remains the largest regional market due to the scale of automotive, electronics and construction manufacturing. North America and Europe show steady expansion associated with advances in high-performance plastics, policies encouraging lightweight vehicles and the presence of leading producers. In emerging economies, notably Latin America and the Middle East, uptake is growing in automotive, packaging and infrastructure projects.
Outlook
The market is expected to expand over the next decade, underpinned by progress in material science, development of more sustainable alternatives and broadening demand across industries. Trends such as electrification of vehicles, growth in smart electronics and interest in eco-friendly packaging are anticipated to support further adoption of engineering plastics.
Leading suppliers
- BASF SE
- Covestro AG
- SABIC
- Dow Inc.
- DuPont de Nemours, Inc.
- Celanese Corporation
- Solvay S.A.
- Evonik Industries AG
- LG Chem Ltd.
- Lanxess AG
Source: Research Intelo
