New report of Data Bridge Market Research added "Global High Performance Plastics Market accounted for USD 18.32 billion in 2016 and projected to grow at a CAGR of 9.7% during the forecast period of 2017 to 2024. "
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Definition of Global High performance Plastics Market
High performance plastic is playing the vital role in various sectors especially in automotive industry because of its light weightiness. The light weight of plastics makes for more fuel efficient vehicles.
Moreover it deals with minimal corrosion, allowing for longer vehicle life. Growing use of HPPS in automotive and aerospace industries may act as the major driver in the growth of high performance plastics market.
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High competition from hybrid polymers and composites may hamper the market. It is widely applicable in transportation, medical, industrial, electrical & electronics.
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Global High performance Plastics Market by Type (Fluoropolymers (FPS), HPPA, Polyphenylene Sulfide, Liquid Crystal Polymers, Polyimides); End-use (Transportation, Medical, Industrial, Electrical & Electronics); Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
The Global High Performance Plastics Market accounted for USD 18.32 billion in 2016 and projected to grow at a CAGR of 9.7% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Competitive Landscape of Global High performance Plastics Market
The global high performance plastics market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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Market Drivers of Global High performance Plastics Market
- 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
Segmentation of Global High performance Plastics Market
The global high performance plastics market is segmented on the basis of type into fluororpolymers (FPS), HPPA, polyphenylene sulfide, liquid crystal polymers, and polyimides. The fluororpolymers (FPS) is sub segmented into PTFE, PVDF, FEP, fluoroelastomers, other fluoropolymers.
The HPPA segment is sub segmented into Polyamide 11, Polyamide 12, Polyamide 9T, Polyamide 46, Polyphthalamide, and Polyacrylamide. The polyphenylene sulfide segment is further sub segmented into sulfone polymers, polysulfone, polyethersulfone, and Polyphenylsulfone.
The liquid crystal polymers segment is further sub segmented into aromatic ketone polymers, polyether ether ketone, polyether ketone, and polyether ketone. The polymides segment is further sub segmented into polyether-imide, polyamide-imide, and polyester-imide
On the basis of end-use, the global high performance plastics market is segmented into transportation, medical, industrial, electrical & electronics, and others. The transportation segment is sub segmented into automotive, and aviation.
The medical segment is sub segmented into pharmaceutical & biotechnology, surgical equipment, diagnostic, therapeutic system, and dental. The industries segment is sub segmented into oil & gas, power plants, and water treatment.
The electrical and electronics segment is sub segmented into telecommunication, semiconductors, electronic components, display, and defense electronics. The others segment is sub segmented into defense, and building & construction.
On the basis of geography, the global high performance plastics market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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Market Players of Global High performance Plastics Market
Major players in global high performance plastics market include DAIKIN INDUSTRIES, Ltd., Celanese Corporation, Solvay, BASF SE, Arkema Group Social Media Hub, EVONIK, KURARAY CO., LTD., DuPont, Victrex plc, SABIC, SEKISUI CHEMICAL CO., LTD., Saint-Gobain Performance Plastics, Röchling Group, Quadrant Group Limited, Ensinger India Engineering Plastics Private Ltd., Grindwell Norton, Dover High, A. Schulman, Inc., CoorsTek Inc., Murtfeldt Kunststoffe GmbH & Co. KG, DuPont, TriStar Plastics Corp., and others.
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