India’s economic growth could spur demand for Engineering Thermoplastics

Growth rates for Engineering Thermoplastics (ETP) continued expanding in 2017 as demand for high performance materials moved from strength to strength. Overall ETP demand globally grew at an estimated 6%-8% in 2017, which is above global GDP growth, and demand for some materials grew even faster in certain locations or for certain industry sectors.

Mega-trends such as population growth and urbanisation, demographic changes (aging population), further advancements in technology, climate change, and sustainability support growth for ETPs and other advanced materials. Consumer demand also drives development of engineering plastics — in automobiles, dishwashers, and sporting goods or, increasingly, in highly specialised medical devices. Engineering plastics are used as replacements for metals or glass, and use is increasing particularly with trends toward energy efficiency and recycling gaining momentum.

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