Market Summary:

The global Thermoplastic Polyester Engineering Resins Market had a value of USD 3.1 billion in 2022. It is projected to reach USD 4.8 billion by 2032, with a substantial compound annual growth rate (CAGR) of 6.7% during the forecast period.

One of the primary drivers behind this revenue growth is the increasing demand for thermoplastic polyester engineering resins across various industries, including automotive, electrical electronics, construction, and consumer products. These resins are favored for their unique characteristics, such as high strength, dimensional stability, heat resistance, and resistance to chemicals. They provide lightweight and cost-effective alternatives to traditional engineering materials like metals and ceramics.

The automotive industry stands out as a major consumer of thermoplastic polyester engineering resins, driven by the growing need for lightweight and fuel-efficient vehicles. Furthermore, the increased utilization of these resins in various automotive components, including engine parts, under-the-hood elements, and interior and exterior trims, is another significant factor propelling market growth.

Additionally, there is a rising demand for high-performance and durable construction materials in the construction sector, contributing to the market's revenue growth during the forecast period. Moreover, these resins are increasingly sought after in the consumer industry due to their superior mechanical and aesthetic properties.

Thermoplastic Polyester Engineering Resins Market Report Scope

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Strategic Development:

• In 2021, SABIC announced that it had signed a memorandum of understanding with Plastic Energy Ltd. to build a commercial-scale plant in the Netherlands to recycle mixed plastic waste into certified circular polymers that can be used in the production of high-quality thermoplastics.
• In 2021, Royal DSM announced the launch of a new line of high-temperature thermoplastic polyester materials called Akulon® Diablo. These materials offer improved heat aging performance, excellent mechanical properties, and easy processability, making them suitable for various applications in the automotive, electrical and electronics, and industrial sectors.
• In 2020, Solvay S.A. announced the launch of a new line of thermoplastic composites called Ryton® PPS. These composites offer superior thermal and chemical resistance, excellent dimensional stability, and lightweight properties, making them ideal for various applications in the aerospace, automotive, and electrical and electronics industries.
• In 2020, BASF SE announced the launch of a new line of high-performance thermoplastic polyester materials called Ultramid® Advanced. These materials offer excellent mechanical properties, high thermal and chemical resistance, and easy processability, making them suitable for various applications in the automotive, electrical and electronics, and industrial sectors.
• In 2020, DuPont de Nemours, Inc. announced the launch of a new line of thermoplastic materials called Zytel® HTN. These materials offer excellent heat resistance, mechanical properties, and dimensional stability, making them suitable for various applications in the automotive, electrical and electronics, and industrial sectors.

Leading Key Players in the Market:

The thermoplastic polyester engineering resins market is highly competitive, with a few major players accounting for a majority of market revenue. These players are adopting various strategies, such as mergers and acquisitions, collaborations, and new product launches, to maintain their market position and expand their product offerings. Some major companies included in the global thermoplastic polyester engineering resins market report are:

• BASF SE
• Celanese Corporation
• DuPont de Nemours, Inc.
• Lanxess AG
• RadiciGroup
• Royal DSM
• SABIC
• Solvay S.A.
• Toray Industries, Inc.
• Zhejiang NHU Company Ltd.

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