Engineering Resins Market Analysis

Increasing demand within the polymers industry and increasing focus on sustainability is driving the market growth

Market CAGR for Engineering Resins is being driven by the Increasing demand within the polymers industry and increasing focus on sustainability. The Engineering Resins Market is an emerging and dynamic sector within the polymers industry, characterized by its increasing demand. This growth can be attributed to the unique properties of engineering resins, including their rigidity, strength, impact resistance, heat tolerance, and chemical stability. These materials find applications in diverse industries such as Automotive, Electrical, Construction, Medical, and more. One of the primary factors fueling the expansion of this market is the cost-effectiveness of engineering resins.

Many automotive companies have shifted from traditional metal components to engineering resins, which are not only more affordable but also offer a range of advantages. The pivotal driver for this transformation is the substitution of metal with thermoplastics. Engineering resins can significantly reduce the weight of products, making them a preferred choice, especially in industries like automotive. By replacing metal parts with these lightweight materials, manufacturers can achieve weight reductions of 30% to 40%. This is crucial for improving fuel efficiency and reducing emissions in vehicles. Another compelling feature is the considerably lower tooling costs associated with high-volume production.

Traditional metal processing often involves expensive tooling and machining, which can be mitigated by using engineering resins. This cost-effectiveness attracts manufacturers looking to optimize their production processes.

With an increasing focus on sustainability, the use of engineering resins contributes to more eco-friendly manufacturing processes. These materials can be recycled and have a reduced environmental footprint, aligning with efforts to reduce waste and promote sustainability.

As a result, it is anticipated that throughout the projection period, demand for the Engineering Resins Market will increase due to the Increasing demand within the polymers industry and increasing focus on sustainability. Thus, driving the Engineering Resins Market revenue.

In July 2024, Liqcreate, a Dutch producer specializing in 3D printing materials, has successfully created a novel type of 3D-printing resin called Liqcreate Rigid Pro, specifically designed for engineering purposes. The material's chemical resistance, high temperature tolerance, and strong and rigid nature make it well-suited for many engineering, automotive, electronics, and oil & gas applications. Liqcreate Rigid Pro is a black photopolymer resin with a rigid composition that is compatible with the majority of resin-based 3D printers.

This resin is suitable for use with Digital Light Processing (DLP), Liquid Crystal Display (LCD), and laser-based 3D printing systems that operate within the wavelength range of 385-420nm. The interoperability spans across a broad spectrum of systems, ranging from basic models offered by Anycubic, Elegoo, and Creality to advanced models such as Asiga, Nexa3D, and UnionTech Martrix. Components produced using Liqcreate Rigid Pro resin exhibit excellent chemical resistance, making them highly durable against a broad spectrum of mild acids and bases.

Its resistance to petrol and diesel makes it appropriate for many uses in the oil and gas industry and the chemical industry.

The Global Engineering Resins Market Industry is on a trajectory of robust growth, with projections indicating a market value of 118.2 USD Billion in 2024 and an anticipated increase to 210.0 USD Billion by 2035. This growth reflects a compound annual growth rate (CAGR) of 5.36% from 2025 to 2035. The expansion is driven by various factors, including technological advancements, increasing applications in diverse industries, and a growing emphasis on sustainability. These projections underscore the dynamic nature of the engineering resins market and its potential to adapt to evolving industry demands.

The construction sector significantly influences the Global Engineering Resins Market Industry, as engineering resins are increasingly used in building materials and infrastructure projects. Resins such as epoxy and polyurethane are favored for their durability, resistance to environmental factors, and ease of application. The ongoing urbanization and infrastructure development in emerging economies contribute to the rising demand for these materials. This trend is expected to bolster the market, with forecasts indicating a substantial increase in market value, reaching 118.2 USD Billion in 2024, as construction activities expand globally.

The Global Engineering Resins Market Industry is witnessing a surge in applications within the electronics sector. Engineering resins, such as polyphenylene sulfide and polyether ether ketone, are increasingly utilized in manufacturing components like connectors, housings, and circuit boards. This trend is attributed to their excellent electrical insulation properties and thermal stability, which are essential for modern electronic devices. As the demand for advanced electronics continues to rise, the market is expected to grow at a CAGR of 5.36% from 2025 to 2035, further solidifying the role of engineering resins in this dynamic industry.

The Global Engineering Resins Market Industry experiences a notable increase in demand for lightweight materials, primarily driven by the automotive and aerospace sectors. These industries are increasingly adopting engineering resins to enhance fuel efficiency and reduce emissions. For instance, the use of polycarbonate and nylon in vehicle components has been shown to decrease weight while maintaining structural integrity. This trend aligns with the projected market growth, as the Global Engineering Resins Market is expected to reach 118.2 USD Billion in 2024, reflecting a shift towards sustainable practices and innovative materials.

Technological advancements play a crucial role in shaping the Global Engineering Resins Market Industry. Innovations in production techniques, such as 3D printing and advanced polymerization methods, enhance the properties of engineering resins, making them more versatile and efficient. These advancements allow for the creation of resins with superior thermal stability and chemical resistance, catering to diverse applications across industries. As a result, the market is poised for growth, with projections indicating a rise to 210.0 USD Billion by 2035, driven by the continuous evolution of resin technologies.

Environmental regulations and sustainability initiatives are pivotal drivers in the Global Engineering Resins Market Industry. Governments worldwide are implementing stringent regulations to reduce plastic waste and promote the use of eco-friendly materials. This has led to an increased focus on bio-based and recyclable engineering resins, which align with global sustainability goals. Companies are investing in research and development to create greener alternatives, thereby expanding their market presence. As a result, the market is anticipated to grow, with projections indicating a rise to 210.0 USD Billion by 2035, highlighting the importance of sustainability in resin production.

Leading market players are investing heavily in research and development to expand their product lines, which will help the Engineering Resins market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Engineering Resins industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Engineering Resins industry to benefit clients and increase the market sector. In recent years, the Engineering Resins industry has offered some of the most significant advantages to the manufacturing and materials sector, including enhanced product performance, lightweight solutions, and environmentally sustainable materials. Major players in the Engineering Resins Market, including ARKEMA GROUP, BASF S.E., E.I. Dupont de Numeours and Company, Honeywell International Inc, Innovative Plastics, LG Chemicals, Mitsubishi Chemical Corporation, SABIC, Solvay SA, Sumitomo Chemical Co.

Ltd. are attempting to increase market demand by investing in research and development operations.

BASF SE is a prominent chemical company engaged in the production, marketing, and sales of a diverse range of products, including chemicals, plastics, crop protection solutions, and performance products. Its extensive product portfolio encompasses items like solvents, adhesives, surfactants, fuel additives, electronic chemicals, pigments, paints, food additives, fungicides, and herbicides. BASF serves multiple industries, such as construction, furniture, agriculture, electronics, automotive, paints and coatings, and more. The company actively collaborates on research and development initiatives with customers, scientists, and partners. BASF operates a network of manufacturing facilities and maintains a strong presence in various regions around the world.

Its headquarters are located in Ludwigshafen, Germany.

Mitsubishi Chemical Group Corp (MCGC), formerly known as Mitsubishi Chemical Holdings Corp, is a diversified chemical company offering a wide array of products and services. These encompass advanced polymers, high-performance chemicals, high-performance films, advanced moldings and composites, petrochemicals, carbon-related products, industrial gases, methyl methacrylate, and solutions focused on environmental and daily living needs. MCGC also provides ethical pharmaceuticals, diagnostic reagents and instruments, capsules and pharmaceutical equipment, active pharmaceutical ingredients and intermediates, and self-health check services.

The company caters to various sectors, including mobility, environmental and new energy initiatives, information technology, electronics and displays, medical applications, food and bioproducts, packaging, labels, and films, as well as healthcare solutions. MCGC maintains a presence with operations spanning Europe, Africa, Asia-Pacific, North America, and Latin America. Its headquarters are situated in Chiyoda-Ku, Tokyo, Japan.