New York City, 11 February 2019: The Global High-Performance Thermoplastic Market is estimated to reach USD 64.52 billion
by 2026 according to a new report published by Polaris Market Research.
High-performance thermoplastics (HPTPs) are advanced polymeric solutions that
cater to the demand of industry specific applications. Its global market is
primarily driven by the increased investments in the manufacturing of both
interior & exterior aerospace and automotive structures. HPTPs are used
extensively in areas demanding specific applications on account of the
excellent properties the material showcases including high temperature
resistance, high chemical resistance, and superior mechanical properties in
severe conditions.
HPTPs are extensively used in aircraft
structures currently in the industry where over thirty years back, 60-70% of the
aircraft constituted of aluminum. This aluminum is now getting replaced by high
performance plastics and high-performance carbon fibers. These high-performance
thermoplastics are lightweight and have resistance to high temperatures leading
to fuel efficiency.
High-performance thermoplastics are
also used in other large industries such as electrical & electronics and
industrial applications. This thermoplastic has witnessed increased demand in
the growing electrical & electronics industry, especially of the developing
countries such as India and China. Increased demand in consumer electronics
products has significantly contributed to the application growth prospects of
this market.
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.
The major players in the global
high-performance thermoplastics market are large multinational companies with
immense experience in polymer processing and manufacturing. Some of the small
players with a narrow product portfolio have also played significant role in
the industry.
Competitive Landscape and Key Vendors:
Asia Pacific is the largest regional
player for the high-performance thermoplastics on account of economic and
industrial growth of its developing countries. Japan is the most advanced and
fastest growing country for the electrical & electronics industry of the
Asia Pacific region for HPTPs. Europe and North America are also anticipated to
witness significant growth due to the advanced automotive and aircraft
industries. Economic growth in the few Middle East & African countries has
also showcased positive scenarios for the market.
Major competitiveness factor among the
players is shift towards the modification of existing polymer type via
extensive R&D and processing techniques. Some of the key market players
include BASF, DowDuPont, SABIC, Solvay, Victrex, Royal DSM, Asahi Kasei, DIC
Corporation, and Honeywell International Inc.
Read More: https://www.polarismarketresearch.com/industry-analysis/high-performance-thermoplastic-market
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