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Polyphthalamide Resin Market 2018 Global Research & Top Manufacturers: DSM, Evonik, Dow-DuPont, Akro Plastics GmbH, Arkema, and Solvay
Press release from: Global Market Insights Inc.
According to a new research report by Global Market Insights, Inc. Polyphthalamide Resin Market size will exceed USD 1.8 billion by 2024.
Automotive remains the largest end-user of polyphthalamide resin market compounds as it has exceptional strength, stiffness, and heat & creep resistance. Moreover, the properties of compounds are modified by adjusting the percentage of glass fiber, carbon fiber, and minerals in it. The Polyphthalamide Resin Market is becoming highly competitive in nature and companies are constantly innovating new products. Recently, DSM introduced ForTii, a PPA product line suitable for prolonged elevated temperatures in carburetor housing units.
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Solvay supplies a wide range of polyphthalamide resin market for a wide range of applications, such as electric motors, in fuel cell vehicles among other applications. Evonik has a comprehensive range of PPA, which finds applications in automotive, drinking water grade pipes, and electronics.
In electronics, LED’s reflectors are the single largest application of PPA, which is already being used by Philips in its product line. The use of PPA prevents reflectors from turning yellow over a period due to heat. Flame-retardant polyphthalamide resin market also finds applications as connectors for printers and memory card bases. PPA also finds applications in the replacement of traditional brass molded components in drinking water applications.
The polyphthalamide resin market will be primarily driven by the rise in regulations globally by respective governments to produce fuel-efficient lightweight vehicles, pressure on OEMs to reduce the engine size and weight along with the global expansion of the automotive industry. PPA is a bio-based sustainable plastic resin, which is being widely used as a metal replacement option in automotive under-the-hood applications. The application ranges from connectors, brake boosters, tubing systems, brake systems, brake booster parts, and hoses.
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It also finds wide applications in the electronics industry as LED packaging materials, reflectors, cell phones, plastic sockets, as connectors for computers, printers, etc. In the personal care industry, it finds applications in hair dryer bristles and styling brushes. In machinery industry, PPA is used for manufacturing small-to-medium parts.
Companies in the polyphthalamide resin market business are constantly developing innovative products, which will cater to different industries other than the above-mentioned oil & gas, drinking water, medical device materials, and food contact materials industries. The backward integration strategy is expected to increase over the years to achieve cost efficiencies. Arkema has already acquired Ihsedu Agrochem, a subsidiary of Jayant Agro, which is a leading producer of castor oil, a raw material in the production of PPA. Companies are looking for long-term reliable sources of castor oil globally owing to the rise in demand for bio polyamides.
Increasing R&D activities for improved composite materials, the high cost of polyphthalamide resin market, and the use of traditional oil-based plastics in developing nations will show some adverse impacts on the polyphthalamide resin market, restraining its full growth to some extent over the projected years.
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Vital operating players in the global polyphthalamide resin market are DSM, Evonik, Dow-DuPont, Akro Plastics GmbH, Arkema, and Solvay.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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This release was published on openPR.
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