India Engineering Plastics Market: Comprehensive Analysis - Revenue, Size, and Forecast
According to TechSci Research report, “India Engineering Plastics Market- By Region, Competition, Forecast and Opportunities, 2019-2029”, the India Engineering Plastics Market stood at USD 3.98 billion in 2023 and is anticipated to grow with a CAGR of 5.26% in the forecast period, 2024-2029. Initiatives taken by government based on engineering plastics has led to favorable market conditions for the India Engineering Plastics Market. Several factors contribute to the growth of various engineering plastics products. End Plastic Pollution International Collaborative (EPPIC): This groundbreaking public-private partnership, initiated by the U.S. Department of State, aims to tackle the urgent issue of plastic pollution through innovative and sustainable solutions. By bringing together governments, NGOs, and businesses, EPPIC fosters collaboration and cooperation to address the global challenge of plastic waste. With a shared commitment to environmental stewardship, EPPIC strives to create a cleaner and healthier future for our planet and future generations. Research and development activities play a pivotal and indispensable role in driving the growth of the engineering plastics market. These activities not only contribute to technological advancements but also foster the development of innovative products that cater to the ever-evolving demands of various industries. For instance, in response to the increasing trend of lightweight vehicles, there is a growing demand for engineering plastics that offer high strength and reduced weight. In this context, research and development initiatives are instrumental in exploring and developing new, lightweight plastic materials that can meet the stringent requirements of the automotive industry while ensuring optimal performance and sustainability. By investing in research and development, the engineering plastics sector can continue to push boundaries, introduce groundbreaking solutions, and stay at the forefront of innovation in the dynamic market landscape. The India Engineering Plastics Market is segmented into polymer type, end user, regional distribution, and company.
Write a comment ...