Engineering Plastics Market in India to Surpass $ 5 Billion by 2022
Increasing
purchasing power coupled with growing demand for automobiles to drive
engineering plastics market in India through 2022
According to
TechSci Research report, “India Engineering Plastics Market, By Polymer Type, By End Use Industry, Competition Forecast &
Opportunities, 2012 – 2022”, India engineering plastics market is
projected to reach $ 5.48 billion by 2022. Policy changes in the electrical and
electronics industry coupled with government initiatives to support the revival
of the electronics industry in the country are expected to boost demand for
engineering plastics in the country during the forecast period. Moreover, bolstering
consumer goods sector, owing to increasing disposable income and shifting
international automotive production base to Asian countries, including India, is
anticipated to thrive engineering plastics market in the country during the
next five years.
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Tables and 50 Figures spread through 74 Pages and an
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Increasing Foreign Direct Investment (FDI) in
end use industries, such as automotive, consumer goods and electrical &
electronics, favorable government regulatory environment in the electronics
sector, increasing population and robustly growing national GDP are the other
factors expected to positively influence India engineering plastics market
through 2022. Additionally, impact resistance, heat resistance, high strength
and dimensional stability are some of the properties of engineering plastics
anticipated to contribute towards increasing demand for ABS, SAN and Polyamide,
etc., from different end use industries in the country.
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“Emergence of engineering plastics as a substitute to
traditionally used materials such as metals and wood, coupled with its extensive
application in automotive sector offers high growth potential for engineering plastic
products market in India. Also, recyclability of engineering plastics, growing trend
of developing bio-based plastics and development of metal detecting engineering plastics are expected to
provide growth prospects to companies engaged in engineering plastics business
in India over the course of next five years.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting.
“India
Engineering Plastics Market, By Polymer Type, By End Use Industry, Competition
Forecast & Opportunities, 2012 – 2022” has evaluated the future growth
potential of India engineering plastics market and provides statistics and information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment evaluation.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in India engineering plastics
market.
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