Global thermoplastic polyester engineering resins market is expected to grow on account of its high demand in end-use industries such as automotive and electrical appliance industry. Increasing demand and production of automobiles industry in emerging economies such as China and India are expected to drive market growth for global thermoplastic polyester engineering resins (TPER). Wide range of applications of TPER in industrial equipment, food & beverage industry, and thermoforming applications is expected to further augment global market growth. Rising demand for plastic bottles in the soft drink industry is further expected to augment market growth. Increasing disposable income coupled with higher standard of living is set to impact the global market growth positively. It is used for electric appliances such as fluorescent bulbs and other lighting products. Increasing disposable income coupled with huge investments in the automotive and electrical appliance industry is expected to uplift global market growth. TPER is widely used in glass particles and fibers to complement durability. Increasing use of glass particles in the infrastructure industry is expected to provide huge opportunities to market participants. Engineered plastics have been touted as potential substitutes for traditional materials such as metal and wood. This in turn is expected to foster the global TPER market growth. Complex production processes are expected to pose challenges for market participants and hinder market growth. Stringent environmental regulations by ECHA, EPA, and EU directives are expected to hinder market growth.
North America emerged as the leading regional TPER market in 2014 owing to high demand in the automotive industry. Increasing automotive industry is expected to further strengthen the market growth of North America. European TPER market is structured around stringent ECHA regulations and EU legislation. Sluggish demand from end-use industries in Western Europe is expected to adversely impact the regional market growth over the forecast period. The majority of TPER demand in Europe is expected to be driven by bottling and construction applications. Eastern European countries are anticipated to account for most of the demand in Europe. Asia Pacific is expected to grow at a significant pace over the forecast period. Growing infrastructure, food & beverages, and automotive industries in emerging markets of China and India are expected to drive market growth for the region. China is expected to witness high growth rates on account of rapid growth of the electrical appliance industry and supportive government regulations.
Key players operating in the global thermoplastic polyester engineering resins market include BASF S.E., SABIC, Innovative Plastics, Solvay Plastics, E.I. Dupont de Nemours & Company, LG Chemicals, and Bayer MaterialScience. Extensive R&D by major companies such as DuPont and Mitsubishi Chemicals aimed at product development is expected to drive market competitiveness. Companies, in order to market their products, are extensively involved in strategic alliances such as distribution agreements and supply contracts with various plastic resin suppliers.
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