As per the latest professional survey report by TMR, the global high performance polymers market is most likely to record an excellent growth rate of 8 % during the forecast period of 2020 to 2030. Furthermore, the research report also predicts that the global high performance polymers market will surpass its initial evaluation done in base year I.e., 2019, and hit the final evaluation of US$ 3.7 Bn by the end of the forecast period I.e., in 2030. The growth of the global high performance polymers market is driven by the increasing usage of solutions in the industry for manufacture of powertrain and engine components.
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Additionally, the increasing demand for reducing the automotive vehicle weight is also generating higher interest in the solutions and technologically superior materials offered by the players in the global high performance polymers market. The development of the global high performance polymers market is also driven by the rising sales of automotive vehicles across the globe.
PPA Materials Receive Highest Demand in High Performance Polymers Market
The major types of products offered by the leading manufacturers, suppliers, and players functional in the global high performance polymers market include polyphthalamide or PPA, liquid crystal polymers or LCPs, polyaryletherketone or PAEK, fluropolymer, polyphenylene sulfide or PPS, polyamides PA4T as well as PA46, polyether ether ketone or PEEK, and polyether imide, among others. Among these, the PPA or polphthalamide segment dominated the landscape of the global high performance polymers market in recent past. This trend can be attributed to the increasing utilization of the PPA materials in manufacture of various automotive components, such as tubing systems, braking systems, fuel line connectors, engine coolant components, powertrains, air intake systems, and hoses.
Another significant segment that is anticipated to lead the global high performance polymers market in the near future is PPS or polyphenylene sulfide. The growing usage of PPS materials in various parts of automotive manufacturing as well as the increasing demand from nations such as Japan, India, and China, are expected to supplement the growth of the PPS solutions from the global high performance polymers market. On the other hand, the PEEK segment is also anticipated to grow at a substantial rate in the global high performance polymers market in coming years. This trend can be attributed to the higher heat resistance, lower weight, higher dimensional stability, and higher chemical resistance offered by the PEEK materials.
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The leading applications for the products and solutions in the global high performance polymers market are electrical components, under the hood components, tires, powertrain and engine, interior and exterior furnishings, and structural components, among others. The increasing applications in powertrain and engine sectors is most likely to positively influence the growth and development of the global high performance polymers market in coming years. The powertrain and engine segment is also anticipated to lead the entire global high performance polymers market in terms of volume in the coming years.
Players in the High Performance Polymers Market Developing New & Innovative Products
A few of the most prominent and incumbent manufacturers and players operating in the global high performance polymers market include Dow, 3M, Solvay S. A., LANXESS, Evonik Industries AG, Celansese Corporation, Arkema, BASF SE, SABIC, Mitsui Chemicals, Inc., Nemours, Inc., DSM, Kuraray Co., Ltd., and Daikin Industries, Ltd., among others. The major incumbent participants in the global high performance polymers market are engaged in innovation of products as well as expansion of their production capacities.
Additionally, the leading players and participants in the global high performance polymers market are also focused on developing new products through strategic collaborations and partnerships with leading industry players. For example, world’s first reusable plastic car spin-on module was launched by the BASF SE in March of 2020. This product was launched by the player in partnership with Hengst Blue On.
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High Performance Polymers Market: Segmentation
High Performance Polymers Market, by Product
- Polyphenylene Sulfide (PPS)
- Polyphthalamide (PPA)
- Polyamide (PA) PA46 & PA4T
- Liquid Crystal Polymers (LCPs)
- Polyether Ether Ketone (PEEK)
- Polyaryletherketone (PAEK)
- Polyvinylidene Fluoride (PVDF)
- Others (including Polyether Imide and Fluropolymer)
High Performance Polymers Market, by Application
- Powertrain & Engine
- Electrical Components
- Interior & Exterior Furnishings
- Under-the-Hood Components
- Structural Components
- Others (including Tires)
High Performance Polymers Market, by Region
- North America
- Latin America
- Asia Pacific
Middle East & Africa
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