Germany Engineering Plastics - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029

Rising adoption of advanced materials to drive the demand for engineering plastics

• The German engineering plastics market accounted for around 21.5%, by value, of the European engineering plastics market in 2022. One of the major reasons behind the rise in the consumption of engineering plastics is their increasing application in the packaging and electrical and electronics industries.
• The packaging industry comprises the largest industry in the market, with a growth rate of 5.9%, by value, in 2022 compared to the previous year. With the increased demand for ready-to-eat convenience food and the emerging trend of on-the-go lifestyles, the consumption of packaging materials increased, bolstering the sales of engineering plastics. The emerging trend of online shopping from e-commerce websites also serves as a driving factor in the packaging industry.
• The electrical and electronics industry is the second-largest, which is expected to witness a consumption of 12%, by volume, in 2023 compared to 2022. Trends like the use of advanced materials, organic electronics, miniaturization, and disruptive technologies like artificial intelligence (AI) and the Internet of Things (IoT) have enabled smart manufacturing practices and worked as growth drivers for the industry.
• The market is expected to register a CAGR of 5.53% during the forecast period (2023-2029), with the aerospace industry reporting the highest CAGR of 7.55%, by value, due to an increase in the production of aerospace components. For instance, aerospace component production revenue is expected to reach USD 66.2 billion by 2029 compared to USD 42.3 billion in 2022.

Germany Engineering Plastics Market Trends

Technological innovations are likely to increase electrical and electronics production

• Rising disposable incomes, technological advancements, improvement in living standards, and shifting preferences toward smart homes and offices are driving the growth of the electrical and electronics industry. In 2017, Germany was the largest electrical and electronics producer, accounting for around 24.3% of the European market.
• In 2020, the electrical and electronic production in the country decreased by 3.7% by revenue compared to the previous year, owing to country-wide lockdowns and the temporary shutdown of manufacturing facilities, causing several issues, including supply chain disruptions. In 2020, the exports of Germany’s electrical industry were USD 224 billion, 6.6% lower than the previous year. In 2021, German export of the electrical and electronics industry reached a value of EUR 224.6 billion, 10.1% higher compared to 2020. As a result, electrical and electronics production in the country increased by a growth rate of 7.5% by revenue in 2021.​
• The rapid pace of technological innovation is driving consistent demand for newer and faster electrical and electronic products. The demand for advanced technologies such as virtual reality, IoT solutions, 5G connectivity, and robotics is expected to grow during the forecast period. As a result of technological advancements, demand for consumer electronics is expected to rise during the forecast period. By 2027, consumer electronics in the country are projected to grow by 8.7% and generate a market volume of around USD 18.8 billion. As a result, it is projected to increase the demand for electrical and electronics production. By 2027, Germany is projected to hold the largest electrical and electronics production, accounting for around 22.2% of the European market.​

Germany Engineering Plastics Industry Overview

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support