Global Engineering Plastics market analysis 2024, Forecast To 2033

The engineering plastics market has experienced robust growth, increasing from $103.88 billion in 2023 to $113.38 billion in 2024, with a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period is attributed to substitution for traditional materials, the electrical and electronics boom, increased focus on sustainability, and expansion in construction and medical device growth. The engineering plastics market is anticipated to sustain strong growth in the next few years, reaching $161.88 billion in 2028, with a CAGR of 9.3%. Contributing factors include 3D printing and additive manufacturing, infrastructure modernization, aerospace applications, an evolving consumer electronics sector, and circular economy initiatives. Major trends in the forecast period encompass high-performance thermoplastics, miniaturization in electronics, smart and functional materials, customization and tailored solutions, and health and safety compliance.