Press release
High Performance Plastics Market Expected to Grow from USD 14 Billion in 2016 at CAGR of 7% by 2022
Market Scenario
The key drivers for the growth of the high performance plastics market are their properties like high chemical resistance at high temperature, high thermal & mechanical stability, and high electrical insulation, which makes it more popular over standard plastic. The high performance plastics are widely used in automotive, electrical & electronics, aerospace & defence, and industrial applications. Automotive segment contributes highest to the overall growth of the market. The reason is attributed to its features such as light weight, especially in the automotive industry, which makes it fuel efficient as it is estimated that every 10-12% reduction in vehicle weight results in a 6% to 8% reduction in fuel usage. The global high performance plastics market size was valued at around USD 14 Billion in 2016 and is expected to cross USD 30 Billion at CAGR of 7% by 2022.
Market Research Analysis
The market is highly application based. The factors contributing to the growth of the global high performance plastics market are their properties which makes it more demanding over standard plastic. The market is expected to have higher growth rate as compared to the previous years. Asia-Pacific is the largest region for the high performance plastics market, followed by Europe and North America. Emerging countries like China and India have a high demand for the automotive and electrical & electronics products due to factors such as growth of industrialization.
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Scope of the Report
This study provides an overview of the global high performance plastics market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global High Performance Plastics packaging market as Type and end-use.
By Type
Floropolymers
Polyamides
Sulfone Polymers
Polyphenylene Sulphide
Liquid Crystal Polymers
Polyetherimide
Others
By End-Use
Automotive
Aerospace & Defence
Electrical & Electronics
Industrial
Others
Regional Analysis of Global High Performance Plastics Market
Asia-Pacific is the largest market for high performance plastics followed by Europe and North America. Emerging countries like China, India and Japan have a high demand for the high performance plastic in growing automotive and electrical & electronics and other industries in the region. The rapid growth in the industrialization is estimated to drive the market for high performance plastic in this region.
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Key Players
The key players of global High Performance Plastics Market report include- Sekisui Chemical Co. Ltd., BASF SE, Quadrant AG, Nylacast Limited, Arkema Group, Daikin Industries Ltd, Celanese Corporation, Solvay S.A., Arkema SA, Evonik Industries AG, and Kuraray Co. Ltd.
The report for Global High Performance Plastics Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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