The market size of high performance plastics is estimated to grow from USD 14.49 Billion in 2016 to USD 35.27 Billion by 2026, at a CAGR of 9.3% from 2016 to 2026. The market is driven by the increased usage of high performance plastics materials instead of conventional materials in high temperature applications.
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Summary of The Report:
The global market size of high performance plastics is projected to reach USD 35.27 Billion by 2026, at a CAGR of 9.3% from 2016 to 2026, in terms of value. The base year considered for the study is 2015, while the forecast period is between 2016 and 2026.
The high performance plastics market is driven by increasing usage of fluoropolymers and aromatic ketone polymers across various industries, due to its superior thermal conductivity property. The report includes analysis of the high performance plastics market by region, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Objectives of the study:
- To define, describe, and forecast the high performance plastics market on the basis of type, end-use industry, and region
- To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contribution to the total market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies2
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Scope of the Report:
This research report categorizes the high performance plastics market.
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- On The Basis of Type
- End-use Industry
- On The Basis of Region
Asia-Pacific: The largest market for high performance plastics
Asia-Pacific is currently the largest market for high performance plastics due to increasing demand from emerging countries such as India and China. China is the largest market for high performance plastics in the Asia-Pacific region.
Forces driving the market for high performance plastics in Asia-Pacific are:
- Presence of major manufacturers of high performance plastics in the region
- Growing end-use industries, such as transportation, electrical & electronics, and medical, in major countries such as the China, India, and Japan.
Transportation: The largest end-use industry of the high performance plastics market
High performance plastics are used in various end-use industries such as electrical & electronics, medical, transportation, industrial, and others. These are the main end-use industries considered in the report.
The transportation segment is estimated to account for the largest share, in terms of value as well as volume, followed by electrical & electronics, in 2016. The medical industry is estimated to grow at the highest CAGR from 2016 to 2026, in terms of value, among all the industries considered.
Fluoropolymers: The largest type segment of the high performance plastics market
The fluoropolymers types is estimated to account for the largest market share, in terms of value as well as volume, followed by high performance polyamide in 2016. The aromatic ketone polymers segment is estimated to grow at the highest CAGR from 2016 to 2026, in terms of value.
The key players in the high performance plastics market are BASF SE (Germany), Daikin Industries, Ltd. (Japan), Celanese Corporation (U.S.), Solvay S.A.
(Belgium), Arkema SA (France), Evonik Industries AG (Germany), Kuraray Co., Ltd. (Japan), E. I. duPont de Nemours and Company (U.S.), SABIC (Saudi Arabia) , Victrex Plc (U.K.), and others
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