The global high-performance thermoplastics market size is estimated to reach USD 65.6 billion by 2026 according to a new report by Polaris Market Research. The report “High Performance Thermoplastics Market Size, Share & Industry Report By Product Type (Polyamides, Polyphenylsufone, Sulfone Polymers, Liquid Crystal Polymers, Aromatic Polyketones, Polyethersulfone), By Application (Electrical & Electronics, Automotive, Aircraft, Industrial), By Regions, & Segment Forecast, 2019 – 2026” provides competent analysis of current market position and portrays future market trends.
High Performance Thermoplastics are advanced polymeric solutions that abide by industry specific applications. Largely, the demand is driven by the increased application in interior and exterior aerospace and automotive structures. HPTP exhibits excellent properties such as high temperature resistance, high chemical resistance and superior mechanical properties under severe conditions. These properties make it ideal for use in such demanding conditions with a healthy market growth to boast.
HPTP’s are currently the material of choice to be used in aircrafts when over some decades back, major components in aircraft were assembled with aluminum as chief component. This aluminum has made way for high-performance plastics and high-performance carbon fibers. These high-performance thermoplastics are light-weight and resist high temperatures that lead to fuel optimizations.
High-performance thermoplastics are the desired material in large industries such as electrical and electronics and industrial applications. Thermoplastics have seen increasing demand in emerging economies such as India and China. A rousing demand in consumer electronic products has significantly attributed success to market growth in thermoplastics. A rising population on a global scale and increasing disposable incomes has powered demand for these products in end-use industries that include thriving growth for market. A sizeable middle-class population and growing urbanization has boosted demand for advanced and modern electrical and automotive products. The lower costs attributed to the product and advancements in product quality have significantly contributed to robust growth of high-performance thermoplastics.
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The consequence of choosing the wrong material can prove costly. Aerospace and mass transit industries have a very negligible scope for errors and hence any component failure can only prove to be highly disastrous. High-performance thermoplastics are higher-priced but provide great thermal resistance than other engineering polymers. HTTP’s also provide greater thermal stability both in short and long run.
Asia Pacific is the leading player for high performance thermoplastics owing to high development of its constituent countries. Japan is a fast-growing and productive country that is leader in electrical and electronics industry which hold true for HPTP’s growth also. Europe and America also have taken gigantic strides in automotive and aircraft industries that impact the HPTP positively. MEA and Africa are tagged with positive market growth for HPTP market.
The players are competing on grounds of modification of existing polymer type via intensive Rand D efforts and processing techniques. The key players in High Performance Thermoplastics Market include BASF, DowDuPont, SABIC, Solvay, Victrex, Royal DSM, Asahi Kasei, DIC Corporation and Honeywell International, Inc.
Polaris Market research has segmented the High-Performance Thermoplastics Maket based on product type, application, and region.