info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Engineering Resins Market Research Report Information By Type (Polycarbonate, Acetal Copolymer Polyoxymethylene, Acetal Homopolymer Polyoxymethylene, Acrylic, Nylon, Polyethylene, Polypropylene, Polyvinylchloride, Teflon); Application (Bumpers, Chemical Tanks, Electrical Insulators, Inhalers, Others); End Use Industry (Automotive, Building and Construction, Electrical Engineering, Healthcare, Packaging, Others) And By Region (North America, Europe, Asia-Pacific, And Rest of The World) –Market Forecast Till 2032.


ID: MRFR/CnM/11030-HCR | 128 Pages | Author: Garvit Vyas| December 2024

Global Engineering Resins Market Overview


Engineering Resins Market Size was valued at USD 109.57 Billion in 2022. The Engineering Resins industry is projected to grow from USD 112.18 Billion in 2023 to USD 179.40 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.36% during the forecast period (2023 - 2032). Consumers are increasingly looking for products with better performance and durability. Engineering resins allow manufacturers to meet these expectations by producing items that withstand harsh conditions and provide extended service life. The versatility of engineering resins allows for the creation of specialized materials tailored to specific applications are expected to be a significant market driver for the Engineering Resins Market.Engineering Resins Market OverviewSource: Secondary Research, Primary Research, MRFR Database and Analyst Review


Engineering Resins Market Trends




  • 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.


Engineering Resins Market Segment Insights


Engineering Resins Market Type Insights


The Engineering Resins Market segmentation, based on Type includes Polycarbonate, Acetal Copolymer Polyoxymethylene, Acetal Homopolymer Polyoxymethylene, Acrylic, Nylon, Polyethylene, Polypropylene, Polyvinylchloride, Teflon. The Polyoxymethylene segment dominated the market, accounting for XX% of market revenue (XX Billion). POM exhibits good resistance to chemicals, including solvents and fuels. This property is valuable in industries where exposure to various chemicals is a concern, such as automotive and industrial equipment. POM offers excellent dimensional stability, meaning it maintains its shape and size even under changing environmental conditions, such as temperature variations. This characteristic is vital in precision engineering.


Engineering Resins Market Application Insights


The Engineering Resins Market segmentation, based on Application includes Bumpers, Chemical Tanks, Electrical Insulators, Inhalers, and Others. The Electrical Insulators segment dominated the market, accounting for XX% of market revenue (XX Billion). These materials are used in a wide range of applications, including electrical connectors, power distribution equipment, circuit breakers, switches, transformers, and power cables. In the electronics industry, they are used in printed circuit boards (PCBs), connectors, and insulating housing for various components. Electrical insulators often operate in environments with temperature variations. Engineering resins in this segment exhibit good thermal stability, maintaining their electrical insulation properties over a broad temperature range. This characteristic ensures that electrical components remain reliable and safe.


Figure 1: Engineering Resins Market, by Application, 2022 & 2032 (USD Billion)Engineering Resins Market, by Application, 2022 & 2032Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Engineering Resins Market End Use Industry Insights


The Engineering Resins Market segmentation, based on the End-Use Industry includes Automotive, Building and Construction, Electrical Engineering, Healthcare, Packaging, and Others. The Automotive segment dominated the market, accounting for XX% of market revenue (XX Billion). The growing market for electric and hybrid vehicles requires innovative materials to support the unique requirements of these vehicles. Engineering resins are used in battery components, connectors, and housing due to their electrical properties, lightweight nature, and durability.


Engineering Resins Market Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Engineering Resins market in North America can be attributed to several key factors. Engineering resins offer manufacturers greater design freedom and customization capabilities. This is crucial in industries where complex, tailored solutions are required. North American manufacturers value these materials for their adaptability to meet specific product requirements, enabling innovation and product differentiation. Engineering resins have diverse applications across numerous North American industries, encompassing electrical and electronics, construction, medical, aerospace, and more. In the United States, a robust economy valued at USD 20 trillion relies on an extensive infrastructure network that spans transportation systems, energy grids, and digital connectivity. In July 2021, the United States Department of Transportation initiated the Infrastructure for Rebuilding America (INFRA) program, allocating USD 905.25 million in discretionary grants to support 24 projects across 18 states. Furthermore, factors like favorable mortgage rates and substantial population growth are propelling a high demand for residential construction. Notably, residential construction investment marked continuous growth over 11 months, surging by 7.6% to reach CAD 14.0 billion (equivalent to USD 10.99 billion) in March 2021. The versatility of engineering resins makes them well-suited for an extensive array of products, ranging from consumer electronics and medical devices to various construction materials.


Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: ENGINEERING RESINS MARKET SHARE BY REGION 2022 (USD Billion) ENGINEERING RESINS MARKET SHARE BY REGION 2022Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe's Engineering Resins Market accounts for the second-largest market share as the healthcare sector in Europe stands out as a significant consumer of engineering resins. Notably, Germany and France were the leading EU Member States in 2020 when it came to healthcare expenditure as a share of GDP, with Germany at 12.8% and France at 12.2%. In terms of current healthcare expenditure, Germany led the way with €432 billion, followed by France with €281 billion, Italy with €160 billion, and Spain with €120 billion. These advanced materials are instrumental in the production of medical devices and equipment, primarily due to their exceptional qualities such as biocompatibility, sterilizability, and resistance to various chemicals. Given the increasing demand for medical devices in Europe, the engineering resins market is experiencing significant growth in the region. Further, the German Engineering Resins Market held the largest market share, and the UK Engineering Resins Market was the fastest-growing market in the European region.


The Asia-Pacific Engineering Resins Market is expected to grow at the fastest CAGR from 2023 to 2032. Infrastructure projects, encompassing construction and energy-related ventures, are witnessing a notable upswing in the Asia-Pacific region. A key development is taking place in India, where the construction industry is poised to reach a substantial value of $1.4 trillion by 2025. With urbanization on the rise, it's anticipated that by 2030, over 40% of the population will reside in urban areas, significantly increasing the demand for approximately 25 million mid-end and affordable housing units. India's National Infrastructure Pipeline (NIP) outlines a significant investment of $1.4 trillion, with allocations of 24% for renewable energy, 18% for roads and highways, 17% for urban infrastructure, and 12% for railways. Engineering resins play a vital role in construction materials and are indispensable for applications like wiring, insulation, and pipelines in energy projects. This robust surge in infrastructure development is a key driver behind the escalating demand for these versatile materials. Moreover, China’s Engineering Resins Market held the largest market share, and the Indian Engineering Resins Market was the fastest-growing market in the Asia-Pacific region.


Engineering Resins Market Key Market Players & Competitive Insights


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.


Key companies in the Engineering Resins Market include




  • 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.




Engineering Resins Industry Developments


November 2021: In 2021, DuPont a key player in plastic manufacturing is employing high-performance polymers and elastomers to develop automotive components, this further reduces the weight, space, and carbon di oxide emissions and increases fuel efficiency. Key players in automobile manufacturing are expected to employ similar best practices to meet environmental and consumer needs.


February 2017: In February 2017, Joint ventures have started to meet the future demands, AsahiKASEI and China national Bluestar have started a joint venture to meet the future requirements in Engineering resins. The usage of engineering resins in various industries like automobile, electric, and construction industry is driving the market. The automotive industry is expected to further strengthen the market because the metal parts are being replaced with Plastic which has high stability, strength, and other factors. Recently usage of engineering resins has started in the packing industry as well because resins create outstanding durability and decorating flexibility.


In February 2024, the RAMPF Group, based in Grafenberg, Germany, will showcase three of its six main areas of expertise: RAMPF Composite Solutions, RAMPF Tooling Solutions, and RAMPF Group Inc. The company will present its extensive range of products and services for the efficient manufacturing of high-performance composite parts. RAMPF Composite Solutions is presenting comprehensive engineering solutions for technologically advanced composite design in the aerospace, defense, transportation, medical, and green technology sectors. The company's specialists employ customized fiber placement (TFP), improved tooling materials with enhanced mechanical qualities, and high-performance liquid resin systems to automate composites manufacturing and save costs. RAMPF Composites Solutions claims that it can produce subsystems and prototypes that can be scaled up quickly, within a matter of days or weeks from the design stage, by using a one-shot approach that incorporates material qualifying and built-in quality assurance. RAMPF Tooling Solutions is showcasing high-performance epoxy boards designed for the manufacturing of prepreg layup tools and vacuum forming molds. This division offers four cutting-edge board materials, namely Raku Tool WB-0691, WB-0700, and WB-0890, designed specifically for use in racing sports, maritime, aerospace, and medical technology applications. RAMPF Tooling Solutions offers a range of products for manufacturing composites, including liquid systems made from epoxy such as infusion resins, laminating resins, and gelcoats. They also provide close contour materials like close contour paste, castings, and blocks.


Engineering Resins Market Segmentation


Engineering Resins Market Type Outlook




  • Polycarbonate




  • Acetal Copolymer Polyoxymethylene




  • Acetal Homopolymer Polyoxymethylene




  • Acrylic




  • Nylon




  • Polyethylene




  • Polypropylene




  • Polyvinylchloride




  • Teflon




Engineering Resins Market Application Outlook




  • Bumpers




  • Chemical Tanks




  • Electrical Insulators




  • Inhalers




  • Others




Engineering Resins Market End Use Industry Outlook




  • Automotive




  • Building and Construction




  • Electrical Engineering




  • Healthcare




  • Packaging




  • Others




Engineering Resins Market Regional Outlook




  • North America




    • US




    • Canada






  • Europe




    • Germany




    • Russia




    • UK




    • Italy




    • France




    • Spain




    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • Rest of World






  • Middle East




    • Africa




    • Latin America





Report Attribute/Metric Details
Market Size 2022 USD 109.57 Billion
Market Size 2023 USD 112.18 Billion
Market Size 2032 USD 179.40 Billion
Compound Annual Growth Rate (CAGR) 5.36% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application, End-Use Industry, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled 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
Key Market Opportunities Increasing focus on sustainability and environmental concerns presents an opportunity for the development of bio-based and recyclable engineering resins
Key Market Dynamics Growing Manufacturing Sector and Renewable Energy Adoption


Frequently Asked Questions (FAQ) :

The Engineering Resins Market size was valued at USD 109.57 Billion in 2022.

The Engineering Resins Market is projected to grow at a CAGR of 5.36% during the forecast period, 2023-2032.

North America had the largest share of the market

The key players in the market are 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.

The Polyoxymethylene dominated the market in 2022.

The Electrical Insulators had the largest share in the market.

Leading companies partner with us for data-driven Insights.

client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10

Kindly complete the form below to receive a free sample of this Report

Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.