Burgeoning Automotive Industry Lends Momentum to the Engineering Plastics Market in Southeast Asia, Finds Frost & Sullivan

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Burgeoning Automotive Industry Lends Momentum to the Engineering Plastics Market in Southeast Asia, Finds Frost & Sullivan PR Newswire KUALA LUMPUR, Malaysia, Dec. 11, 2012 - Manufacturers can gain better margins by offering new and improved grades for niche application areas KUALA LUMPUR, Malaysia, Dec. 11, 2012 /PRNewswire/ -- Improved economic conditions and favorable manufacturing environments in Singapore, Malaysia, Indonesia, Thailand, and the Philippines have drawn significant investments to the engineering plastics market in Southeast Asia. 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 (http://www.chemicals.frost.com), Strategic Analysis of Engineering Plastics Market in Southeast Asia, finds that the market earned revenues of over US$2.07 billion in 2011 and estimates this to reach US$4.28 billion by 2018. The higher affluence of consumers in Southeast Asia will have a positive bearing on the domestic adoption of electrical appliances and automobiles in the region, especially of two wheelers in Indonesia. "Several Japanese electronics and office equipment manufacturing companies are setting up bases in Indonesia, Thailand, and the Philippines," said Frost & Sullivan Research Analyst Sushmita Mahajan.

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Burgeoning Automotive Industry Lends Momentum to the Engineering Plastics Market in Southeast Asia, Finds Frost & Sullivan

PR Newswire KUALA LUMPUR, Malaysia, Dec. 11, 2012

- Manufacturers can gain better margins by offering new and improved grades for niche application areas

KUALA LUMPUR, Malaysia,Dec. 11, 2012/PRNewswire/ -- Improved economic conditions and favorable manufacturing environments in Singapore, Malaysia, Indonesia, Thailand, and the Philippines have drawn significant investments to the engineering plastics market in Southeast Asia. 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 (http://www.chemicals.frost.com),Strategic Analysis of Engineering Plastics Market in Southeast Asia, finds that the market earned revenues of overUS$2.07 billionin 2011 and estimates this to reachUS$4.28 billionby 2018.

The higher affluence of consumers in Southeast Asia will have a positive bearing on the domestic adoption of electrical appliances and automobiles in the region, especially of two wheelers in Indonesia.

"Several Japanese electronics and office equipment manufacturing companies are setting up bases inIndonesia, Thailand, and the Philippines," saidSushmita Mahajan. "The application ofFrost & Sullivan Research Analyst engineering plastics in these growing end-user segm ents 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.

However, escalating oil prices impede the growth of this price-sensitive market, since crude oil is the key source for raw materials. As these costs are passed on to the end-user segments, automobile and electronic producers tend to opt for cheaper plastics.

"Producers need to find alternate resources to reduce oil dependence in the coming years," concluded M ahajan. "This will also address environmental concerns, paving the way for bio-based engineering plastics."

If you are interested in more information on this research, please send an email toDonna Jeremiah, Corporate Communications, [e-mail], with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

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