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(IT-NEWSWIRE.COM, November 21, 2018 ) High Performance Thermoplastic Market Outlook and Analysis to 2026 - Leading Top Companies are BASF, DowDuPont, SABIC, Solvay, Victrex, Royal DSM, Asahi Kasei, DIC Corporation, and Honeywell International Inc
The global high-performance thermoplastic market generated USD 64.52 billion in 2017 and is anticipated to grow at a CAGR of 7.3% during the forecast period.
High-Performance Thermoplastics (HPTPs) are highly specialized polymeric compounds with very demanding and specific application. HPTPs are highly priced in comparison to the engineering thermoplastics and have more thermal resistance and enhanced properties. Its global market is primarily driven by the increased investments in the manufacturing of both interior & exterior aerospace and automotive structures.
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High-performance thermoplastics market is gaining traction on account of increased demand of high-performance plastics in aviation and automotive industry. Such end-uses make use of plastic components that deliver high efficiency in the severe conditions. High rigidity, high impact strength, high resistance to temperature, creep resistance, and better surface quality along with the less product rejection are some of the most important characteristics for its usage in such end-uses.
Rising demand for more light-weight aircraft structures has compelled the aircraft industry to make use of component structures made from high performance thermoplastics. Initially such lightweight composites were used in military aerospace applications as it was considered too expensive. Stringent pressure due to environmental concerns and rising cost of aviation fuel forced the civilian aircraft industry to adopt lightweight and high-performance structures for the aircraft.
HPTPs are also used extensively in defense industry, electrical & electronics, and consumer goods. Plastic and polymer industries have witnessed tremendous development in terms of product design and material science which have made plastics as strong as metal and even lighter. Technical advancements via resin materials of HPTPs have provided its global market with the potential to replace ceramic, advanced metal, and other composite parts.
Rising population worldwide along with the growth in disposable incomes has influenced demand for these products in end-use industries that include lucrative and growth parameters for the HPTPs market. Increasing urbanization especially among the middle-income groups has increased the demand for advanced and modern electrical & automotive products. Product advancements and lower commodity cost for consumers has significantly contributed to the rapid growth of the high-performance thermoplastics.
Competitive Landscape and Key Vendors
Asia Pacific is the largest regional player for the HPTPs due to large population concentration and rapidly increasing urbanization of its emerging economies such as India and China. Continuous development in industrial infrastructure has led to significant growth in the regions end-use industries such as electronics, automotive, aerospace, and consumer goods.
Major competitiveness factor among the players is shift towards the modification of existing polymer type via extensive R&D and processing techniques. Some f the key market players include BASF, DowDuPont, SABIC, Solvay, Victrex, Royal DSM, Asahi Kasei, DIC Corporation, and Honeywell International Inc.
Key Segments:
Product Segment
Polyamides
Polyphenylsufone
Sulfone Polymers
Liquid Crystal Polymers
Aromatic Polyketones
Polyethersulfone
Others
Application Segments
Electrical & Electronics
Automotive
Aircraft
Industrial
Others
Others
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.
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Phone: 1-646-568-9980
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Polaris Market Research
Neel
+1-646-568-9980
neel@polarismarketresearch.com
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