Core Viewpoint - The special engineering plastics industry is experiencing significant growth driven by national policies and increasing demand from high-tech sectors such as new energy vehicles, 5G communication, and aerospace. The market size in China is projected to grow from 7.2 billion yuan in 2018 to 16 billion yuan in 2024, and further to 21.2 billion yuan by 2027 [1][19]. Industry Overview - Special engineering plastics are a third generation of plastics, crucial for national economic development and high-end manufacturing upgrades. They include materials like polyimide (PI), polyamide-imide (PAI), and polyether-ether-ketone (PEEK), which exhibit high thermal stability and are used in electronics, automotive, and aerospace applications [4][19]. - The industry has evolved through four stages: the initial phase (1950-1979) focused on imports, the development phase (1980-1999) saw increased domestic production, the rapid growth phase (2000-2010) involved technological advancements, and the current mature phase (2011-present) emphasizes innovation and sustainability [6][7][8]. Market Dynamics - The domestic market for special engineering plastics is expected to grow significantly, with a compound annual growth rate (CAGR) of 14.5% for key raw materials like naphtha, which is projected to increase from 35.8 million tons in 2018 to 80.7 million tons by 2024 [12]. - The global market for special engineering plastics is also expanding, with a forecasted growth from $9.853 billion in 2018 to $15.376 billion in 2024, and expected to reach $16.493 billion by 2025 [16][19]. Key Companies - Notable companies in the industry include Kingfa Technology, Water Holdings, and Prit, which are actively involved in the research, production, and sales of special engineering plastics. These companies are focusing on innovation and expanding their market presence [2][23][24]. - Kingfa Technology reported a revenue of 59.536 billion yuan in 2024, reflecting a year-on-year growth of 26.35% [26]. Water Holdings achieved a revenue of 0.922 billion yuan, with a growth of 10.55% [28]. Development Trends - The industry is moving towards functionalization, high performance, and scalability, with a focus on developing materials that meet specific application needs in sectors like aerospace and electronics [30][31][33]. - There is a growing emphasis on sustainability, with initiatives aimed at developing recyclable materials and optimizing production processes to reduce environmental impact [35]. Application Areas - Special engineering plastics are increasingly used in high-tech applications, including aerospace components, automotive parts, and electronic devices, driven by the demand for materials that can withstand extreme conditions [13][19][30].

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