The global High performance plastics market is projected to reach USD 35.27 Billion by 2026 at a CAGR of 9.3% from 2016 to 2026
The market has witnessed significant growth in the recent years, and this growth is projected to persist in the coming years. High performance plastics, due to its characteristic properties such as high thermal stability, greater chemical resistance, high dielectric strength, low shrinkage, and greater design flexibility, are used in a wide range of end-use industries such as transportation, medical, electrical & electronics, industrial, and others.
Different types of high performance plastics are also included in the report. The main types are fluoropolymers, high performance polyamides, polyphenylene sulfide, sulfone polymers, liquid crystal polymers, aromatic ketone polymers, and poly-imide. The fluoropolymers segment is estimated to account for the largest share in 2016, due to their suitability in a number of application areas. The aromatic ketone polymers segment is estimated to grow at the highest CAGR from 2016 to 2026, in terms of value.
High performance plastics are used in various end-use industries such as transportation, medical, electronics, industrial, and others. These are the main end-use industries considered in the report. In 2015, the transportation end-use industry accounted for the largest market share, in terms of value as well as volume, followed by electrical & electronics, industrial, medical, and others. The medical industry is estimated to grow at the highest CAGR between 2016 and 2026, among all the end-use industries considered.
Daikin industries, Ltd. (Japan), Solvay S.A. (Belgium), BASF SE (Germany) Evonik Industries AG (Germany), E. I. Du Pont de Nemours and Company (U.S.) are some of the leading companies operating in this market.
Other major manufacturers of high performance plastics are SABIC (Saudi Arabia), Celanese Corporation (U.S.), Arkema SA (France), Victrex Plc (U.K.), Kuraray Co., Ltd (Japan).
- Growing Use of HPPS in Automotive and Aerospace Industries
- Replacement of Conventional Materials By HPPS
- Improving Economic Conditions
- High Cost of HPPS in Comparison to Other Conventional Materials
- High Competition from Hybrid Polymers and Composites
- Emerging Markets for Thermoplastics Polymers
- Special Properties of HPPS
- Difficulty in Processing HPPS
For more information about this report visit http://www.researchandmarkets.com/research/lr65xm/high_performance
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SOURCE Research and Markets