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High Performance Polyester Market 2018 – 2023 | Business Insights, Future Projections & Global Forecast Analysis
High Performance Polyester Market is segmented on the basis of Applications, End Use Industries and Regions
The Global High Performance Polyester Market is segmented on the basis of applications, end use industries, and regions. Based on the application, the market is segmented into strap, tape, insulation, gelcoat, films and others. On the basis of end use industries, the market is categorized into packaging, building & construction, electrical & electronics, automotive and others. On the basis of regions, this market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
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Regional Analysis:
The Global High Performance Polyester Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing demand from end use industries such as packaging, building & construction, electrical & electronics, automotive and others. The demand for High Performance Polyester is projected to surge in developing countries such as India, China, and Japan due to growing automotive industry and rise in construction activities as well. Whereas in North America and Europe, manufacturers are adopting production of recyclable products based on High Performance Polyester due to shifting consumer trend towards high usage of recyclable products. North America is expected to witness substantial growth in the usage of High Performance Polyester Market over the forecast period. The U.S is expected to dominate High Performance Polyester Market in the region followed by Mexico and Canada. Latin American countries such as Colombia, Chile, and Brazil are also projected to witness steady growth with the expansion of packaging and automotive industries in these countries. Middle East & Africa high performance polyester demand may observe notable growth due to rising construction activities.
High Performance Polyesters are polyesters with added properties such as high durability and excellent tensile strength. They exhibit superior properties such as corrosion resistance, high shock absorption, and outstanding elasticity which makes it suitable for end-use industries such as packaging, building & construction, electrical & electronics, automotive and others.
High Performance Polyester Strapping Material are easy to clean and safe while handling as compared to steel strapping, thus driving the Global Performance Polyester Market growth over the forecast period. Moreover, increasing demand for light weight automobile parts in automotive sector, is expected to drive the market. In addition, rapid industrialization coupled with rising disposable income drives the market growth. Increasing investment in the construction industry as well as the expansion of packaging sector in developing regions are anticipated to fuel market growth. Growing use of High Performance Polyester as an insulation in electrical & electronics industry is driving market growth over the forecast period. However, rise in demand of bio-plastics in coming years can hamper the market growth further.
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