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Chinese Engineering Plastics Markets
Frost & Sullivan, Oct 2007, Pages: 153
Outstanding Properties of Engineering Plastics Boost the Product Market in China
The demand for high-end polymers, especially engineering plastics, has been very high in various end-user industries due to their notable properties. Their superior characteristics such as high stiffness and strength, heat resistance, substantial dimensional stability as well as resistance to weathering and a wide variety of chemicals have made them stand out from regular commodity plastic. These lightweight and energy-saving products have seen the fastest growth rate in the global plastic material industry. They have proven to be sensible alternatives to wood, metal, and glass in most end-user segments due to their better mechanical and abrasive resistance.
'The material produced with engineering plastics provide good friction resistance, which has been a high priority requirement of the lucrative automotive end-user industry,' says the analyst of this research. Demand is also high from the electric and electronic industry due to the boost in sales of engineering plastic-dependant appliances ranging from refrigerator, television, to even iron boxes. New engineering plastics and hybrids are continually developed to satisfy consumer needs. The total consumption of engineering plastics has been very high and is likely to keep growing for the next few years.
Lack of a Mature Production Technology Drives the Plastic Sector to Develop Integrated Production
A recent survey suggests that there are over 300 engineering plastic suppliers in China and multinational brands dominate the country. Although the Chinese economy has developed rapidly, the level of plastic production remains low and lacks quality. Meeting high demands from various industries has become critical. Therefore, incorporating localized technology with imported technology will help cut down price and bridge the gap with international players. In addition, larger raw material caprolactam (CPL) participants merging with and restructuring the downstream enterprises is expected to further help develop an integrated production. Manufacturers need to work on technological progress, as it is imperative to improve the level of equipment and promote the development of the industry.
Frost & Sullivan forecasts that the market development trend for the total engineering plastic market in China is likely to show a gradual increase in its annual revenue growth rate. 'The market is expected to maintain a steady growth from 2006 to 2013, attributing mainly to volume growth, increasing prices, and the augmentation of automotive and electrical and electronic market,' cites the analyst.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sector in this research:
- Polyamide (PA) engineering plastic
- Polycarbonate (PC) engineering plastic
- Polyoxymethylene (POM) engineering plastic
- Polybutylene terephthalate (PBT) engineering plastic
- Modified polyphenylene oxide (MPPO) engineering plastic
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