India Engineering Plastics Market to Grow at Over 13% through 2020

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According to recently released TechSci Research report, “India Engineering Plastics Market Forecast and Opportunities, 2020”, India engineering plastics market is projected to exhibit a CAGR of over 13% during 2015 – 2020. Engineering plastics are used in India in diverse industries such as automotive, electrical & electronics, construction, etc. Engineering plastics market in India is segmented on the basis of polymer type into ABS, Polycarbonate, SAN, Polyamide, PBT and Others. 

The report reveals that ABS is the fastest growing segment in the market, followed by polycarbonate. ABS finds application in automotive, electrical & electronics industries on account of specific physical and mechanical properties such as electrical insulation, high tensile strength, strong resistance against chemical and moisture, etc., which make the polymer highly suitable for use in manufacturing of various automotive parts. The engineering plastics market in India consists of a number of global and regional manufacturers, with Styrolution ABS, SRF and Bhansali Engineering Polymers being the leading players operating in the country.

“India engineering plastics market will continue to exhibit growth over the next five years on the back of increasing demand from various industries. Adoption of lightweight technology in heavy machinery, and stringent environmental regulations are fueling the demand for engineering plastics in the country. In India, engineering plastics are replacing traditional engineering materials like metals, as use of engineering plastics results in weight reduction as well as performance enhancement.”, said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.

“India Engineering Plastics Market Forecast and Opportunities, 2020” has analyzed the potential of engineering plastics market in India, and provides statistics and information on market size, structure and shares. The report will suffice in providing the clients with cutting-edge market intelligence and help them in taking sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends, along with essential drivers and key challenges in India engineering plastics market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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