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Will Demand for High Performance Polymers for Powertrains & Engines Surge? | Fact.MR's Research
The global high performance polymers market for automotive is slated to reach nearly US$ 4 billion by 2031, expanding at a robust CAGR of approximately 8%, according to a recent research report published by award-winning consulting firm Fact.MR. Growth is majorly reliant on usage of high performance polymers across powertrains, engines, interiors, exteriors, chassis, and structural components.Click HERE to Get Complete Synopsis of the Report- https://www.factmr.com/report/automotive-high-performance-polymers-market
As per Fact.MR’s report, high performance polymer demand for automotive components primarily banks on increasing governmental curbs on carbon emission levels. The US EPA estimates that, global carbon emissions from fossil fuels increased significantly since 1970, contributing 78% of total emission levels. Hence, preference for lightweight polymer-based automotive components is inclining, as these help achieve fuel economy by reducing engine load.
Furthermore, surging popularity of electric and autonomous vehicles is also inclining the high performance polymers market for the automotive industry. It is projected by the Institute of Electrical and Electronics Engineers that 3 out of 4 cars will be autonomous by 2040, while the International Energy Agency’s Global EV Outlook pegged sales of electric vehicles at 2.1 million units in 2019, comprising 3% of total car sales.
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Market Segmentation
Global High Performance Polymers Market for Automotive Analysis and Forecast, by Product, 2021-2031
Polyphenylene Sulfide (PPS)
Polyphthalamide (PPA)
Polyamide (PA) PA46 & PA4T
Liquid Crystal Polymers (LCPs)
Polyether Ether Ketone (PEEK)
Polyaryletherketone (PAEK)
Polyvinylidene Fluoride (PVDF)
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Global High Performance Polymers Market for Automotive Analysis and Forecast, by Application, 2021-2031
Powertrains & Engines
Electrical Components
Interior & Exterior Furnishings
Under-the-Hood Components
Structural Components
For More Insights: https://www.prnewswire.com/news-releases/chelating-resins-sales-accelerating-as-application-in-chlor-alkali-rises-factmr-301249343.html
Global High Performance Polymers Market for Automotive Volume (Tons) and Value (US$ Mn) Forecast, by Region, 2021-2031
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Takeaways from Market Study
By product, polyphthalamide (PPA) deployment to remain maximum across key application areas
High performance polymers for powertrain & engine manufacturing to experience major incline
The U.S. to generate lucrative prospects for high performance polymers in the automated vehicles segment
High scope for lightweight automotive parts manufacturing to spur high performance polymer sales across China
India to witness high uptake amid increasing strictness in emission curbing standards
“Prominent players are increasingly tilting towards manufacturing ferroelectric polymers for various components, including acoustic systems, attributed to their low cost, easy processing, high compatibility, and light weight, generating significant revenue streams for the future,” comments a Fact.MR analyst.
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Competitive Landscape
Prominent manufacturers are majorly reliant on expanding existing product portfolios along with capacity expansion initiatives so as to secure a firm footing within the global landscape.
In August 2020, LANXESS Chemical launched its bio-based prepolymer line, Adiprene Green, as a replacement for fossil based polyether prepolymers to manufacture highly durable polyurethane elastomers. The objective was to create a range of bio-based prepolymers to produce component with a reduced CO2 footprint.
Recently, in March 2021, Evonik Industries and InnovationLab jointly presented the TAeTTOOz® material technology printable batteries, developed from redox polymers offered by Creavis, Evonik’s strategic innovation unit. The solution presents an innovative technology for the efficient production of rechargeable battery cells.
In April 2021, 3M Company announced the launch of 3M Ceramic Coating, its new long-lasting protective finish for automotive paint, metal, plastic trim, wheels and glass. The coating delivers high-gloss, extremely slick surface with high aesthetic value and helps shed water quickly.
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More Insights on the High Performance Polymers Market for Automotive
Fact.MR, in its new offering, presents an unbiased analysis of the high performance polymers market for automotive, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product (polyphenylene sulfide (PPS), polyphthalamide (PPA), polyamide (PA) PA46 & PA4T, liquid crystal polymers (LCP), polyether ether ketone (PEEK), polyaryletherketone (PAEK), polyvinylidene fluoride (PVDF), and others (including polyether imide and fluoropolymer) and application (powertrains & engines, electrical components, interior & exterior furnishings, under-the-hood components, structural components, and others (including tires)). across five major regions of the world (North America, Latin America, Europe, Asia Pacific, and MEA).
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