The market for Brazil Engineering Plastics is expected to grow at a CAGR of more than 5% during the forecast period.
Key Market Trends
Polyethylene Terephthalate (PET): The Most Used Engineering Plastic
Automotive and Transportation to Likely Drive the Market Growth
Competitive Landscape
The Brazil engineering plastics market is partially fragmented in nature with the presence of many players in the market. Some of the major companies in Brazil engineering plastics market includes BASF SE, SABIC, Solvay, Covestro AG, and DuPont, among others.
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- Engineering plastics replacing traditional materials is one of the major driving factor for the market growth.
- By product type, PET is most used engineering plastic, and is likely to continue its dominance over the forecast period.
Key Market Trends
Polyethylene Terephthalate (PET): The Most Used Engineering Plastic
- Polyethylene terephthalate (PET) is a thermoplastic polyester engineering resin. PET resins are known for their excellent melt flow characteristics, close molding tolerances, and high productivity from multi-cavity molds. Due to its broad mechanical and electrical properties, PET is often used to replace metals in motor housings, switches, sensors, and other electrical applications.
- PET and polyolefins are the most widely used materials in the plastic packaging industry. Some of the major properties of PET as a packaging material are recyclability, strength, and versatility, which drive the demand for these products.
- These products mainly include take-out containers, frozen foods, carbonated drinks and juices, ketchup, bottled water, jars, and baked good containers. They are also used in the food industry for clamshells, deli containers, as well as microwave food trays.
- PET also has great barrier properties that protect and preserve the contents of the product. PET maintains the fizz in carbonated soft drinks, the vitamins in juices, and the color in ketchup. In other words, it protects products and keeps them on the shelves and out of the rubbish bin, for a longer period.
- With an increasing demand for beverage packaging and a lack of better substitute for PET resin for this application, the demand for PET is projected to increase over the forecast period.
Automotive and Transportation to Likely Drive the Market Growth
- Some of the applications of engineering plastics are as follows:
- Automotive airbags (owing to their excellent balance of flexible design and ease of processing)
- Under-the-hood applications (owing to their excellent thermal resistance, fatigue endurance, and wear resistance)
- Automotive Electrical and Electronics (allows miniaturization, better heat management, and design flexibility)
- Within the transportation segment, they are being increasingly used in the aerospace segment, such as for galley components, lavatory components, air ducts, and lighting houses.
- Growing demand for lightweight materials in the automotive industry, in order to provide increased efficiency and design flexibility, is primarily responsible for the growth of the engineering plastics market. High-performance engineering plastics offer manufacturers the advantages of design and comparable strength of steel, which helps in reducing the overall weight and controlling greenhouse gas emissions.
- Growing demand for electric vehicles is another factor driving the growth of the market. The need for lightweight material in these vehicles, to enhance energy efficiency, acts as a major impetus for the adoption of engineering plastics.
- Such factors are expected to drive the market for engineering plastics in the country.
Competitive Landscape
The Brazil engineering plastics market is partially fragmented in nature with the presence of many players in the market. Some of the major companies in Brazil engineering plastics market includes BASF SE, SABIC, Solvay, Covestro AG, and DuPont, among others.
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- The market estimate (ME) sheet in Excel format
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 3M
- Arkema SA
- Ashland Inc.
- BASF SE
- Celanese Corporation
- Chemtura Corporation
- Chevron Phillips Chemical
- Covestro AG
- DuPont
- Eastman Chemical Company
- Evonik Industries AG
- LANXESS
- LG Chem
- Lyondellbasell
- Nova Chemicals Corporation
- Polynt
- PolyOne Corporation
- Rochling Group
- SABIC
- Solvay
Methodology
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