High Temperature Plastics Market Report, 2013-2028 Focuses on Market Dynamics, Opportunities, Development Status, Outlook, & Analysis by Region: Radiant Insights, Inc.
Rising demand for lightweight and durable aircrafts by airlines to cut operational expenses is driving demand for high temperature plastics market.
SAN FRANCISCO, Oct. 9, 2019 /PRNewswire/ -- The Global High Temperature Plastics Market is anticipated to witness a healthy CAGR during the forecast period (2013 to 2028). High temperature plastic (HTP) is defined as a plastic that can handle operating temperature above 150°C. HTP is able to maintain its stiffness and strength at required operating temperature by resisting thermal degradation. Other useful characteristics include chemical resistance, creep resistance, and friction and wear performance.
Growth of aerospace industry owing to changing consumer preference for flight over train and other modes of transportation is anticipated to propel market growth. Rising demand for lightweight and durable aircrafts by airlines to cut operational expenses is driving demand for high temperature plastics market. Automobile manufacturers also prefer HTPs over metals in body panels, motor, bearings, pistons, and ignition modules to reduce vehicle weight for fuel efficiency. In addition, growing adoption of polyketones in wind energy and oil and gas industry as an alternative to metals is expected to impel market growth. Moreover, increasing use of HTPs to make electrical cables and wires will drive the high temperature plastics market over the forecast period.
To cater to rising demand for HTPs, manufacturing companies are investing in R&D activities to develop innovative products. For instance, in October 2018, DuPont launched high temperature nylon (HTN) and polybutylene terephthalate (PBT). The nylon is an advanced version bio based Zytel HTN polyphthalamide. This flame retardant, nonhalogenated, and high-performance material was aimed for electrical components and automotive connectors. In addition, new grades of PBT are aimed at hybrid and electric vehicles. They can also be used in high voltage connectors.
Product Insights
Based on product, the high temperature plastics market can be segregated into liquid crystal polymers, fluoropolymers, polyphenylene sulfides, polysulfones, polyimides, polyketones, and others. Fluoropolymers segment is expected to hold highest market share over the forecast period for high temperature plastics. This is owing to rising demand for polytetrafluoroethylene (Teflon) in industrial applications such as semiconductor manufacturing, biotech manufacturing, automotive uses, and fabrics are driving segment's growth. Exceptional resistance to chemical reaction, high temperatures, corrosion, and stress-cracking makes it suitable for aforementioned industrial applications.
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Application Insights
On the basis of application, the market of high temperature plastics can be classified into chemical, electrical, automobile, aerospace, medical, and others. Automobile segment is anticipated to account for highest market share over the forecast period of high temperature plastics. This is attributed to ability of high temperature plastics to provide required chemical and heat resistance. Other properties such as lightweight and durability also make them suitable for motor vehicle applications. Electrical segment is also expected to hold significant market share over the forecast period. This is attributed to increasing use of fluorinated ethylene propylene in cable and wire applications. Properties such as flexibility, low dielectric constant, and superior fire and heat resistance are likely to stimulate demand for HTPs in electrical industry.
Regional Insights
Regional segmentation of high temperature plastics includes North America, Asia Pacific, Europe, Latin America, and Middle East and Asia. Asia Pacific is anticipated to account for highest share for high temperature plastics market of over the forecast period. This is attributed to increasing use of fluoropolymers in industrial applications such as filtration and chemical processing. In addition, increasing use of polytetrafluoroethylene in non-residential building activities is also driving regional growth. Moreover, growth of construction and automobile industry in developing countries such as China and India will drive regional market growth.
North America is expected to witness significant market share owing to rising demand for HTP over traditional materials such as glass, metal, and other polymers. Changing consumer preference for electronic products, electrical equipment, and machinery made from HTP is likely to augment regional market growth in the coming years.
Some of the key players in the high temperature plastics market are Bayer Material Science AG, BASF SE, Celanese Corporation, The Dow Chemical Company, and Eastman Chemical Company. Companies are adopting business strategies such as acquisition and merger to expend their product portfolio.
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Market Segmentation:
- Leading players of High Temperature Plastics including:
- Solvay
- Victrex
- Evonik
- DIC Corporation
- Toray
- Kureha
- Tosoh
- Polyplastics
- SK
- Celanese
- Chengdu Letian
- Market split by Type, can be divided into:
- PPS
- PI
- PSF
- Other
- Market split by Application, can be divided into:
- Automotive & Aerospace
- Electronics
- Industrial & Machinery
- Market split by Sales Channel, can be divided into:
- Direct Channel
- Distribution Channel
Market segment by Region/Country including:
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Spain etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
- South America Brazil, Argentina, Colombia and Chile etc.)
- Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Browse reports of similar category available with Radiant Insights, Inc.:
- Long Fiber Thermoplastics (LFT) Market
- High Performance Plastics Market
- Electric Vehicle Plastics Market
- Bioplastics Market
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