The global engineering plastics market will be worth $76.8 (£49.1 million) by 2017, according to projections by Markets and Markets, a market research firm.
Makers of plastic bottles and caps, plastic scoops and measures are to up their output over the next five years, driven by emergence of new markets and the expansion of existing application markets.
According to the research, Global Engineering Plastics Market Analysis by Product Types, Applications & Geography - Trends & Forecasts (2012 - 2017), engineering plastics possess a number of qualities that make them attractive to industries.
The study looks at global volumes and revenues for engineering plastics and determines the driving and restraining factors for the global engineering plastics market with analysis of trends, opportunities, imperatives and challenges.
The market will reach $76,823.4 million by 2017, growing at a compound annual growth rate of 9.1 per cent from 2012 to 2017.
Asia-Pacific leads the market, accounting for 38.3 per cent of the overall market in 2011.
The Markets and Markets report said plastics have superior mechanical, chemical, and thermal properties along with lightweight and high-strength characteristics that allow them to be used instead of metals and glass in a variety of applications.
"Engineering plastics offers dimensional stability with high impact, temperature, flame, and moisture resistance," the report said.
"The presence of such diverse properties makes them suitable for use in myriad and diverse applications. The applications for engineering plastics ranges from automotives and electrical and electronic components to medical, construction, industrial and consumer appliances."
Across industries, the automotive and transportation industries are the largest end-use applications for engineering plastics.
A growing trend for lower vehicle weight, lower emissions and better fuel efficiency is forecast to drive the consumption growth of engineering plastics in these sectors the analysis said.
In China and India, the market for electricals and electronics is burgeoning, with growing demand for plastics for manufacture of switchgears, mini circuit breakers and lighting such as lamp fitting, lamp bases, luminaries and connectors.