Press release
Super Engineering Plastics Market Share 2023 - Solvay SA, Tosoh Corporation, DIC CORPORATION, TORAY INDUSRTIES, INC., KUREHA CORPORATION, NHU Materials Co., LION IDEMITSU COMPOSITES CO., LTD, BASF SE, Huntsman International LLC., LG Chem
Super-Engineering Plastics to Witness Increased Demand from Automotive Industry
Toray Industries is investing over USD 89 Mn to increase the production capacity of its PPS plant in South Korea.
SK Chemicals is entering the market with its new PPS which is chlorine free and has applications in auto parts such as productions of headlamps where there is reduced occurrence of haze.
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Market Insights
Market Research Future has released its report on the Super Engineering Plastics Market for the forecast period of 2017 to 2023. The market is set to witness significant growth due to various relevant factors. Engineering Plastics have extensive uses due to their superior mechanical and thermal properties as compared to commodity plastics. Super Engineering Plastics take this one step further to offer high strength and superior thermal resistance. Other features of Super Engineering Plastics include resistance to impact, high mechanical strength, self-lubricating, fire resistant, chemical stability, and several others. These features are the key driver of the market as they are high performance materials with extensive use across various end-use industries.
Used extensively in high temperature, and harsh environmental conditions, applications for Super Engineering Plastics are diverse and can be found in automotive & transportation, packaging, electrical & electronics, healthcare, textiles, and sports, among others. Manufacturing of lightweight auto parts for increased fuel efficiency without compromising of strong, resistant materials is anticipated to increase the demand and sales of Super Engineerings Plastics. The rapidly growing automotive industry and the use of Super Engineering Plastics to increase the safety of vehicles will lead to growth for the Global Super Engineering Plastics Market. Moreover, their high insulation properties make them ideal for use in handlebars and plug connectors of electronic devices. Presently, these plastics are produced in small quantities and are used for low volume applications. However, advancing technology, and increasing R&D activities are anticipated to produce cost-effective, and superior super engineering plastics for the market, thus creating opportunities for future growth.
Market Segmentation
The Global Super Engineering Plastics Market in MRFR’s report has been analyzed by its various segments which have been derived on the Basis of Type, End-Use Industries and Region.
By Type, the market is segmented into Polyamide (PA), Polybutylene terephthalate (PBT), Acrylonitrile butadiene styrene (ABS), Polyethylene terephthalate (PET), Polyphenylene sulfide (PPS), Polyether ether ketone (PEEK) and others.
By End-Use Industry, the market is segmented into electrical & electronics, textile, packaging, sports, automotive & transportation, and others. Of these, the automotive & transportation segment is expected to account for the largest share.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.marketresearchfuture.com/reports/super-engineering-plastics-market-4204
Regional Analysis
The Asia Pacific market accounts for over 45% of the total market share of the Global Super Engineering Plastics Market. The presence of a rapidly growing automotive industry in the region combined with the presence of several key producers of Super Engineering Plastics is a key factor contributing to the region’s leading market position. Emerging markets such as Japan, China, and India are expected to provide market growth due to the establishment of the region as a manufacturing hub for the electronics and automotive industries.
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