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Australia Engineering Plastics Market Size

The Australia Engineering Plastics Market is projected to experience significant growth over the forecast period, driven by various industries such as packaging, electrical & electronics, and aerospace. The packaging industry, primarily fueled by the food sector's demand for convenient packaging solutions, holds a substantial portion of the market. Meanwhile, the electrical & electronics sector is witnessing rapid expansion due to the increasing use of engineering plastics as substitutes for traditional materials in consumer electronics. The aerospace industry is also emerging as a key growth area, supported by the rise in local aircraft parts production.

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Market Size of australia engineering plastics Industry

Australia Engineering Plastics Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 532.59 Million
svg icon Market Size (2029) USD 706.15 Million
svg icon Largest Share by End User Industry Electrical and Electronics
svg icon CAGR (2024 - 2029) 5.80 %
svg icon Fastest Growing by End User Industry Aerospace
svg icon Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Australia Engineering Plastics Market Analysis

The Australia Engineering Plastics Market size is estimated at 532.59 million USD in 2024, and is expected to reach 706.15 million USD by 2029, growing at a CAGR of 5.80% during the forecast period (2024-2029).

532.59 Million

Market Size in 2024 (USD)

706.15 Million

Market Size in 2029 (USD)

6.55 %

CAGR (2017-2023)

5.80 %

CAGR (2024-2029)

Largest Market by End-user Industry

42.99 %

value share, Electrical and Electronics, 2023

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The electronics segment occupied the highest market share due to the widespread applications of engineering plastics like ABS/SAN, PC, and PA in advanced and smart electrical devices.

Fastest Growing Market by End-user Industry

8.92 %

Projected CAGR, Aerospace, 2024-2029

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The aerospace industry is expected to witness the fastest growth due to the rapid adoption of lightweight and high-impact resistant engineering plastics to replace traditional metal parts.

Largest Market by Resin Type

30.99 %

value share, Polycarbonate (PC), 2023

Polycarbonate resin has occupied the largest share owing to its notable usage in electronics as a good electrical insulator with flame-retardant properties. The resin has widespread applications in the automotive and machinery industries.

Fastest Growing Market by Resin Type

7.06 %

Projected CAGR, Polyether Ether Ketone (PEEK), 2024-2029

PEEK resin is expected to witness the fastest growth due to the rapid adoption of lightweight and high-impact resistance materials in industrial applications to replace traditional metal parts.

Leading Market Player

45.18 %

market share, SABIC, 2022

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SABIC is the largest provider of engineering plastic resins in Australia, and it has a wide range of product grades for use by different end users.

Packaging industry to remain dominant with high volume share

  • Engineering plastics are a class of synthetic resins that, compared to other conventional plastics, offer high-performance capabilities and improved plastic properties. They remain stable over a broad temperature range and withstand significant mechanical stress and climatic and chemical changes.
  • Packaging is the largest industry, and it accounted for 46% of the total volume share in 2022. It is majorly driven by the food industry to meet the demand for single-serve and portable food packs. PET resin dominated the market with a 99% volume share in 2022. With the rising e-commerce, food exports, and demand for packaged food and beverages, the market revenue from PET is expected to increase, while recording a CAGR of 4.38% during the forecast period.
  • Electrical & electronics is Australia's second-largest engineering plastics consumer industry, and it accounted for approximately 29% of the total volume of all industries combined in 2022. PET and polycarbonate are the most commonly used resin types in this industry, and they are responsible for 18% and 34% of the total volume consumed, respectively. They are used as a substitute for die-cast metals and thermosets in many applications, including electrical encapsulation, solenoids, connectors, and smartphones. Owing to the rapid growth of this industry, which is primarily driven by consumer electronics, market revenue is expected to record a CAGR of 6.25% during the forecast period.
  • Aerospace is the fastest-growing market in the country, and it is expected to record a CAGR of 9.12%, by value, during the forecast (2023-2029). This is anticipated to be influenced by the increasing local production of aircraft parts, which increased by 8.16% in revenue in 2022 over 2021. PMMA is the most used resin type, and it had a 50.33% volume share in 2022.
Australia Engineering Plastics Market

Australia Engineering Plastics Industry Segmentation

Aerospace, Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging are covered as segments by End User Industry. Fluoropolymer, Liquid Crystal Polymer (LCP), Polyamide (PA), Polybutylene Terephthalate (PBT), Polycarbonate (PC), Polyether Ether Ketone (PEEK), Polyethylene Terephthalate (PET), Polyimide (PI), Polymethyl Methacrylate (PMMA), Polyoxymethylene (POM), Styrene Copolymers (ABS and SAN) are covered as segments by Resin Type.

  • Engineering plastics are a class of synthetic resins that, compared to other conventional plastics, offer high-performance capabilities and improved plastic properties. They remain stable over a broad temperature range and withstand significant mechanical stress and climatic and chemical changes.
  • Packaging is the largest industry, and it accounted for 46% of the total volume share in 2022. It is majorly driven by the food industry to meet the demand for single-serve and portable food packs. PET resin dominated the market with a 99% volume share in 2022. With the rising e-commerce, food exports, and demand for packaged food and beverages, the market revenue from PET is expected to increase, while recording a CAGR of 4.38% during the forecast period.
  • Electrical & electronics is Australia's second-largest engineering plastics consumer industry, and it accounted for approximately 29% of the total volume of all industries combined in 2022. PET and polycarbonate are the most commonly used resin types in this industry, and they are responsible for 18% and 34% of the total volume consumed, respectively. They are used as a substitute for die-cast metals and thermosets in many applications, including electrical encapsulation, solenoids, connectors, and smartphones. Owing to the rapid growth of this industry, which is primarily driven by consumer electronics, market revenue is expected to record a CAGR of 6.25% during the forecast period.
  • Aerospace is the fastest-growing market in the country, and it is expected to record a CAGR of 9.12%, by value, during the forecast (2023-2029). This is anticipated to be influenced by the increasing local production of aircraft parts, which increased by 8.16% in revenue in 2022 over 2021. PMMA is the most used resin type, and it had a 50.33% volume share in 2022.
End User Industry
Aerospace
Automotive
Building and Construction
Electrical and Electronics
Industrial and Machinery
Packaging
Other End-user Industries
Resin Type
Fluoropolymer
By Sub Resin Type
Ethylenetetrafluoroethylene (ETFE)
Fluorinated Ethylene-propylene (FEP)
Polytetrafluoroethylene (PTFE)
Polyvinylfluoride (PVF)
Polyvinylidene Fluoride (PVDF)
Other Sub Resin Types
Liquid Crystal Polymer (LCP)
Polyamide (PA)
By Sub Resin Type
Aramid
Polyamide (PA) 6
Polyamide (PA) 66
Polyphthalamide
Polybutylene Terephthalate (PBT)
Polycarbonate (PC)
Polyether Ether Ketone (PEEK)
Polyethylene Terephthalate (PET)
Polyimide (PI)
Polymethyl Methacrylate (PMMA)
Polyoxymethylene (POM)
Styrene Copolymers (ABS and SAN)
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Australia Engineering Plastics Market Size Summary

The Australia Engineering Plastics Market is poised for significant growth, driven by the increasing demand across various industries. Engineering plastics, known for their high-performance capabilities and stability under extreme conditions, are becoming increasingly popular in sectors such as packaging, electrical and electronics, and aerospace. The packaging industry, particularly influenced by the food sector's need for portable and single-serve packs, remains the largest consumer of engineering plastics. The rise of e-commerce and the demand for packaged food and beverages are further propelling the market, with PET resin being the dominant material. Meanwhile, the electrical and electronics sector is experiencing rapid growth due to the surge in consumer electronics, with PET and polycarbonate resins being widely used as alternatives to traditional materials. Aerospace is emerging as the fastest-growing segment, driven by increased local production of aircraft parts.

The market landscape is fairly consolidated, with major players like Arkema, BASF SE, Covestro AG, LANXESS, and SABIC holding significant shares. These companies are actively innovating to meet sustainability goals, as evidenced by recent product launches aimed at reducing carbon footprints and supporting environmental initiatives. The electrical and electronics industry, despite past challenges, is rebounding with increased demand for smart devices and advanced technologies such as IoT and 5G connectivity. Government initiatives and the shift towards domestic manufacturing are expected to further bolster this sector. Overall, the Australia Engineering Plastics Market is set to expand, supported by technological advancements and strategic industry developments.

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Australia Engineering Plastics Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Building and Construction

      4. 1.1.4 Electrical and Electronics

      5. 1.1.5 Industrial and Machinery

      6. 1.1.6 Packaging

      7. 1.1.7 Other End-user Industries

    2. 1.2 Resin Type

      1. 1.2.1 Fluoropolymer

        1. 1.2.1.1 By Sub Resin Type

          1. 1.2.1.1.1 Ethylenetetrafluoroethylene (ETFE)

          2. 1.2.1.1.2 Fluorinated Ethylene-propylene (FEP)

          3. 1.2.1.1.3 Polytetrafluoroethylene (PTFE)

          4. 1.2.1.1.4 Polyvinylfluoride (PVF)

          5. 1.2.1.1.5 Polyvinylidene Fluoride (PVDF)

          6. 1.2.1.1.6 Other Sub Resin Types

      2. 1.2.2 Liquid Crystal Polymer (LCP)

      3. 1.2.3 Polyamide (PA)

        1. 1.2.3.1 By Sub Resin Type

          1. 1.2.3.1.1 Aramid

          2. 1.2.3.1.2 Polyamide (PA) 6

          3. 1.2.3.1.3 Polyamide (PA) 66

          4. 1.2.3.1.4 Polyphthalamide

      4. 1.2.4 Polybutylene Terephthalate (PBT)

      5. 1.2.5 Polycarbonate (PC)

      6. 1.2.6 Polyether Ether Ketone (PEEK)

      7. 1.2.7 Polyethylene Terephthalate (PET)

      8. 1.2.8 Polyimide (PI)

      9. 1.2.9 Polymethyl Methacrylate (PMMA)

      10. 1.2.10 Polyoxymethylene (POM)

      11. 1.2.11 Styrene Copolymers (ABS and SAN)

Australia Engineering Plastics Market Size FAQs

The Australia Engineering Plastics Market size is expected to reach USD 532.59 million in 2024 and grow at a CAGR of 5.80% to reach USD 706.15 million by 2029.

In 2024, the Australia Engineering Plastics Market size is expected to reach USD 532.59 million.

Australia Engineering Plastics Market Report Snapshots

Australia Engineering Plastics Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029