High Temperature Thermoplastics Market by End-use Industry (Transportation, Electrical & Electronics, Industrial, Medical), Resin Type (High Temperature FPs, HPPA, PPS, SP, LCP, AKP, PI), Temperature Range, and Region - Global Forecast to 2022
“Increasing demand for high temperature thermoplastics from aerospace and automotive industries is expected to drive the high temperature thermoplastics market”
The global high temperature thermoplastics (HTTs) market size is estimated to be USD 14.38 billion in 2017 and projected to reach USD 21.70 billion by 2022, at a CAGR of 8.57%. The market growth is fueled by the increasing investments in new manufacturing plants for automotive and aerospace development. This growth stems from a rise in the manufacturing of interior and exterior components in the automotive and aerospace industries using HTTs due to their superior mechanical properties, chemical resistance, and high heat stability of high performance plastics. The growth is also fueled by the under the hood applications in the automotive industry. High manufacturing cost of the high performance plastics is the restraining factor for this market.
“Aromatic ketone polymers is the fastest growing resin type anticipated to drive the growth of the high temperature thermoplastics market”
Aromatic ketone polymers is the fastest-growing resin type segment, in terms of volume & value both in the HTTs market. They possess outstanding thermal stability, mechanical properties, and chemical resistance. These properties make them suitable for a wide range of applications such as fuel systems, induction systems, coolant systems, engine components, powertrain, brake systems, pumps and valves, shaft seals, sockets, biotechnology, surgical equipment, and transmission components manufacturing.
“Asia Pacific is the fastest-growing market for high temperature thermoplastics”
Asia Pacific is expected to be the fastest-growing market for HTTs, in terms of both value and volume. High economic growth rate, growth in manufacturing industries, availability of cheap labor, increasing foreign investments, and rise in applications of HTTs across medical, transportation, and electronics applications are some of the major factors expected to fuel the growth of the market. Countries such as China, South Korea, and Taiwan, which are major hubs for the production of electronic components, are expected to drive the growth of the market in Asia Pacific.
India is expected to be the fastest-growing market for HTTs, in terms of value. High economic growth rate, programs to facilitate investments and promote industrial growth, and other factors such as growing population, improved infrastructure, increased manufacturing activities, and better purchasing power are the major factors that are increasing the demand for HTTs.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided in three categories: by company type, by designation, and by region.
• By company Type: Tier 1 - 35%, Tier 2 - 25%, and Tier 3 - 40%
• By Designation: C Level - 30%, Director Level - 25%, and Others - 35%
• By Region: North America - 30%, Asia Pacific - 30%, Europe - 25%, ME&A - 10%, and South America - 5%
The report also provides company profiles and competitive strategies adopted by the major market players; the various key players profiled in the report are as follows:
• DowDuPont (US)
• Celanese Corporation (US)
• Solvay (Belgium)
• BASF (Germany)
• Royal DSM (Netherlands)
• Victrex (UK)
• Arkema (France)
• Evonik Industries (Germany)
• SABIC (Saudi Arabia)
• Toray Industries (Japan)
This report covers the HTTs market on the basis of end-use industry, resin, temperature range, and region. It aims at estimating the market size and future growth potential across the above-mentioned segments. The report also includes an in-depth competitive analysis of key players in the market, along with company profiles, DIVE analysis, recent developments, and key growth strategies.
Reasons to buy the report
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the HTTs market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem and new product developments.