KUALA LUMPUR, Malaysia
Dec. 11, 2012
/PRNewswire/ -- Improved economic conditions and favorable manufacturing environments in
have drawn significant investments to the engineering plastics market in
. The market for engineering plastics is expected to develop in tandem with the electrical, electronics as well as automobile sectors, which are expected to grow by more than 10-15 percent from 2012 to 2018.
New analysis from Frost & Sullivan (
Strategic Analysis of Engineering Plastics Market in Southeast Asia
, finds that the market earned revenues of over
in 2011 and estimates this to reach
The higher affluence of consumers in
will have a positive bearing on the domestic adoption of electrical appliances and automobiles in the region, especially of two wheelers in
"Several Japanese electronics and office equipment manufacturing companies are setting up bases in
Frost & Sullivan Research Analyst
. "The application of engineering plastics in these growing end-user segments boosts the market's revenue."
The popularity of engineering plastics in construction and infrastructure further drives revenue growth. Plastics are replacing metals in many applications, as they often eliminate expensive secondary manufacturing steps, offer a large degree of design freedom, and are relatively easy to process.
In addition, research and development will result in advanced plastic grades that can be used in numerous new applications. Improved features such as the ability to sustain high temperatures and humidity for long periods will increase their utility.