Rapid growth in China's national economy has triggered the demand for engineering plastics in various industries, especially domestic pillar and new growth industries. These high-end polymers are the fastest moving products in the entire global plastic material industry.
New analysis from Frost & Sullivan (chemicals&materials.frost.com), Chinese Engineering Plastics Market, finds that the market earned revenues of $5.50 billion in 2006 and estimates this to reach $11.56 billion in 2013.
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"Their resistance to heat, weather, and a wide variety of chemicals, in addition to many other notable properties, makes them much durable than regular commodity plastics," remarks Frost & Sullivan Research Analyst Alina Sun. "As a result, engineering plastics are replacing structural materials such as metal, wood, and glass in many end-user industries."
Engineering plastics, with their abrasive and mechanical resistance, have not only gained popularity in daily-life supplies and agriculture sectors, but have also been in high demand in many heavy-duty sectors such as automotive, electrical and electronics, machinery, and transportation among others.
In China, there exist more than 1,000 automotive component manufacturers trying to meet the growing demand of automotive manufacturers. Majority of the components are manufactured locally in China, providing a large user base for the Chinese polyamide (PA) engineering plastics industry.
However, the hi-tech polymers market in China is highly dominated by international players. Imports accounted for most of engineering plastics consumption.
As the costs are higher for imported products than those of the local ones, local consumers are hindered from using better performing engineering plastics. In addition, the production capacity of the local Chinese plastics market has been very low, lacking the quality to meet market demand.
"Incorporating local technology with international technology will help cut down price," says Sun. "Resolving industrialized production's key issues such as sources of raw engineering plastic materials will help achieve large-scale production in the engineering plastic industry."
Concentrating on making breakthroughs in the polycarbonate (PC), polyoxymethylene (POM) resin production technology and strengthening the power of scientific and technological development will help in the future development of the Chinese engineering plastics industry.
Chinese Engineering Plastics Market, part of the Chemicals, Materials, and Food Subscription, provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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