Growth of Engineering Plastics
Polymerupdate, a leading player in the energy business information vertical, aims to through this conference, focus its attention on the ever rising potential of the engineering plastics segment and bring business leaders on a common forum for tracking opportunities in this sector.
Building on the success of the inaugural conference, polymerupdate is proud to announce the launch of its next conference, The Polymerupdate Global Petrochemical Conference (PGPC) on “Engineering & High Performance Plastics”. This is due to be held on April 14th, 2011 at Hotel Hyatt Regency, Mumbai.
There is considerable growth potential in the engineering plastics industry worldwide since untapped opportunities still exist for metal replacement in cars and trucks, household appliances as well as other applications. Growth in Asia will be driven by increasing usage of engineering plastics in segments like electrical & electronics (E&E), construction and automotives in particular.
Engineering plastics demand is expected to rise globally, driven by the ongoing replacement of metal parts with high-performance plastic.
Engineering plastics in India has witnessed fast growth although the market size is not as large as some other Asian countries. However, this is likely to change as more OEMs, particularly in the automotive industry, plan to establish plants in India. With India becoming an automotive hub, and the electrical and electronics market witnessing a boom, the demand for engineering plastics in India is set to grow at a rapid pace.
It remains Polymerupdate’s vision hereon to offer through its conferences, market intelligence, educate new industry players and provide all in the plastics fraternity a strong networking platform. PGPC 2010 was the first step toward achieving all of these and more, as the delegates spent two days in a comfortable, invigorating and intellectually stimulating environment.
The focus, in the present time, is on engineering plastics for development of new chemical materials. Traditional material is no longer seen to be sufficient to cater to demands of current applications. In modern times, engineering plastics are perceived to be essential and they are being applied in a wider manner in each and every sector of the global economy.
The global market for engineering plastics is projected to grow at a compounded annual growth rate of around 9.5 percent over the next ten years. The consumption growth of engineering plastics on an average annual basis is likely to reach up to 3 million tonnes, 18 percent of the total demand in 2013.
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