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South America Engineering Plastics Market Size

The South America Engineering Plastics Market is projected to experience significant growth over the forecast period, driven by its applications across various industries such as automotive, packaging, and electrical and electronics. The market's expansion is attributed to the superior properties of engineering plastics, which are increasingly replacing traditional materials like metals. Brazil and Argentina are key players in the region, with Brazil being the largest consumer due to its developed automotive and packaging sectors. Argentina is noted for its rapid growth in demand, particularly in the automotive industry, supported by government initiatives. Overall, the market size is expected to grow as technological advancements and changing consumer lifestyles drive the need for innovative materials.

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Market Size of south america engineering plastics Industry

South America Engineering Plastics Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 5.60 Billion
svg icon Market Size (2029) USD 7.94 Billion
svg icon Largest Share by End User Industry Packaging
svg icon CAGR (2024 - 2029) 7.22 %
svg icon Largest Share by Country Brazil
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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South America Engineering Plastics Market Analysis

The South America Engineering Plastics Market size is estimated at 5.60 billion USD in 2024, and is expected to reach 7.94 billion USD by 2029, growing at a CAGR of 7.22% during the forecast period (2024-2029).

5.60 Billion

Market Size in 2024 (USD)

7.94 Billion

Market Size in 2029 (USD)

4.93 %

CAGR (2017-2023)

7.22 %

CAGR (2024-2029)

Largest Market by End-user Industry

49.71 %

value share, Packaging, 2023

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Due to the wide range of applications, including bottles, jars, and containers, specifically in the food and beverage industry, the packaging segment occupied the major share.

Fastest Growing Market by End-user Industry

8.53 %

Projected CAGR, Electrical and Electronics, 2024-2029

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The electronics segment is expected to witness the fastest growth due to the superior properties of engineering plastics, such as lightweight, good impact resistance, higher flexibility, and fire resistivity.

Largest Market by Resin Type

44.80 %

value share, Polyethylene Terephthalate (PET), 2023

With widespread applications in the packaging industry and the rising demand for PET sheets and films, PET resin occupies the largest market share.

Largest Market by Country

62.76 %

value share, Brazil, 2023

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Due to significant economic growth and escalating demand for engineering plastics in major industries, including packaging, automotive, and construction, Brazil has occupied the highest market share over the past few years.

Leading Market Player

43.96 %

market share, Alfa S.A.B. de C.V., 2022

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In 2022, with the largest production capacity of around 640 kilotons per year of PET resin in South America, the company held the largest market share. Alfa offers various grades, mainly for packaging applications.

Packaging industry to dominate the market during the forecast period

  • Engineering plastics, with their superior mechanical and thermal properties compared to common or commodity plastics, have endless applications. They have replaced metals and other traditionally used materials in various application areas, such as automotive, aerospace, building & construction, and more.
  • The packaging industry is the largest consumer of engineering plastics. Packaging made from engineering plastics comes in a variety of material types and forms, including films, bottles, containers, and others, each with its own unique characteristics. These characteristics encompass temperature range, appropriate food use, shelf life, appearance, and barrier properties. Suitable for both hot and cold filling, as well as microwave reheating, engineering plastics are expected to see a CAGR of 5.13% in terms of consumption volume from this industry during the forecast period.
  • The automotive industry is the second-largest consumer of engineering plastics, which have replaced expensive metals and their alloys with various types of composites, each designed for unique conditions and requirements. The industry uses high-strength engineering plastics, which not only reduces the cost of part processing, assembly, and maintenance but also makes the vehicle lighter and more energy-efficient. Brazil and Argentina have the most developed automotive industries in the region, and consumption in this industry is expected to record a CAGR of 6.74% in terms of revenue from 2023 to 2029.
  • The electrical and electronics industry is projected to be the fastest-growing segment due to the increasing demand for smart electronics and advanced devices, contributing to the industry's growth. The demand in this industry is anticipated to record a CAGR of 7.74% in terms of volume during the forecast period.
South America Engineering Plastics Market

Brazil to remain dominant during the forecast period

  • South America accounted for a share of 4.56%, by revenue, of the consumption of engineering plastics globally in 2022. Engineering plastics have applications in different industries, such as automotive, packaging, electrical and electronics.
  • Brazil is the largest consumer of engineering plastics and witnessed a growth of 10.18% in revenue in 2022 compared to the previous year. Brazil occupied nearly 60% and 66% volume shares of packaging and automotive production, respectively, of overall South America. With the growing demand for ready-to-eat convenience food and the emerging trend of on-the-go lifestyles, the consumption of packaging materials increased, increasing the sales of engineering plastics in the region. The surge in automobile demand is a consequence of the increasing demand for private mobility. Technological innovations are driving demand for electronic gadgets.
  • Argentina is the fastest-growing consumer, led by the automotive industry, as the government legislated a new Act to promote new investments in the car-marking industry and strengthen its supply chain. This will reinforce the industry’s export-oriented profile, promoting the development of new engine technologies during the forecast period. Therefore, the demand for engineering plastics in automotive is likely to increase, registering a CAGR of 10.77%, by revenue, in the country during the forecast period.
  • The consumption of engineering plastics in the region is expected to register a CAGR of 7.21% by revenue during the forecast period (2023-2029), owing to the use of advanced materials, organic electronics, miniaturization, and disruptive technologies.

South America 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. Argentina, Brazil are covered as segments by Country.

  • Engineering plastics, with their superior mechanical and thermal properties compared to common or commodity plastics, have endless applications. They have replaced metals and other traditionally used materials in various application areas, such as automotive, aerospace, building & construction, and more.
  • The packaging industry is the largest consumer of engineering plastics. Packaging made from engineering plastics comes in a variety of material types and forms, including films, bottles, containers, and others, each with its own unique characteristics. These characteristics encompass temperature range, appropriate food use, shelf life, appearance, and barrier properties. Suitable for both hot and cold filling, as well as microwave reheating, engineering plastics are expected to see a CAGR of 5.13% in terms of consumption volume from this industry during the forecast period.
  • The automotive industry is the second-largest consumer of engineering plastics, which have replaced expensive metals and their alloys with various types of composites, each designed for unique conditions and requirements. The industry uses high-strength engineering plastics, which not only reduces the cost of part processing, assembly, and maintenance but also makes the vehicle lighter and more energy-efficient. Brazil and Argentina have the most developed automotive industries in the region, and consumption in this industry is expected to record a CAGR of 6.74% in terms of revenue from 2023 to 2029.
  • The electrical and electronics industry is projected to be the fastest-growing segment due to the increasing demand for smart electronics and advanced devices, contributing to the industry's growth. The demand in this industry is anticipated to record a CAGR of 7.74% in terms of volume during the forecast period.
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)
Country
Argentina
Brazil
Rest of South America
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South America Engineering Plastics Market Size Summary

The South America Engineering Plastics Market is poised for significant growth, driven by the material's superior mechanical and thermal properties that make it a preferred choice over traditional materials like metals. This market is experiencing a robust expansion across various sectors, including automotive, aerospace, and building and construction, with the packaging industry being the largest consumer. Engineering plastics are increasingly utilized in packaging due to their versatile forms and properties, such as temperature resistance and barrier capabilities. The automotive sector also significantly contributes to market growth, as these plastics replace metals, reducing costs and enhancing vehicle efficiency. Brazil and Argentina are key players in this market, with Brazil leading in consumption due to its developed automotive and packaging industries, while Argentina is rapidly growing, particularly in automotive applications.

The electrical and electronics industry is emerging as the fastest-growing segment within the South America Engineering Plastics Market, fueled by the rising demand for smart electronics and advanced devices. The region's market is characterized by a high level of consolidation, with major companies like Alfa S.A.B. de C.V., BASF SE, and Indorama Ventures Public Company Limited dominating the landscape. Technological advancements and increased disposable income are driving the demand for consumer electronics, further boosting the market. The presence of multinational companies and ongoing technological innovations are expected to sustain the market's growth trajectory. Recent strategic moves, such as acquisitions and partnerships, are enhancing product portfolios and production capabilities, indicating a dynamic and evolving market environment.

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South America 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)

    3. 1.3 Country

      1. 1.3.1 Argentina

      2. 1.3.2 Brazil

      3. 1.3.3 Rest of South America

South America Engineering Plastics Market Size FAQs

The South America Engineering Plastics Market size is expected to reach USD 5.60 billion in 2024 and grow at a CAGR of 7.22% to reach USD 7.94 billion by 2029.

In 2024, the South America Engineering Plastics Market size is expected to reach USD 5.60 billion.

South America Engineering Plastics Market Report Snapshots

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