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Global High Performance Plastics Market
Global High Performance Plastics Market
The GMI Research predicts that the High-Performance Plastics Market will witness an expansion in demand over the forecast period. This is mainly because of the ongoing demand from the automotive industry, swift expansion in the electronic industry, accelerating disposable income, and rising popularity of smartphones.
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Introduction of the High Performance Plastics Market:
High-performing plastics are consciously designed polymers with excessive mechanical strength, chemical and temperature resilience. In other words, firmness at inflated temperature is the prime criterion applied to distinguish superior performance plastics from regular ones. The contemporary high-performing plastics sector is because of the ongoing effort in the industry towards amelioration of their mechanical features and resistance to temperature.
Leading Market Players
· Saint-Gobain Performance Plastics Corporation
· Quadrant Group of Companies
· Grindwell Norton Ltd.
· Murtfeldt Kunststoffe GmbH & Co. KG
· Sekisui Chemical Co., Ltd
· Rochling-Group
· Quantum Polymers
· Schulman Inc.
· CoorsTek, Inc.
· DuPont and TriStar Plastics Corporation
High Performance Plastics Market Dynamics
The global High-performance plastics market is experiencing notable growth throughout the world. The augmenting application of these high-performance plastics across the transportation industry, estimated to be nearly USD 5,182 million in 2016 and likely to touch USD 6,979 million by the end of 2021 with a growth rate of 6.13% amid 2016-2021, is fuelling the market growth. In addition, as per the High-performance plastics market analysis, expansion of the market is primarily because of the strategic government environmental norms, aggravating application of high-performance plastics across aviation industries, as well as the accelerating demand for plastics with excessive temperature balance, chemical resilience, and enhanced mechanical features throughout the world.
Application Segment Driver:
According to the application, the market is subdivided into aviation, railway, automotive, and marine. Amongst all of these, the automotive industry is contemplated to bolster at the highest growth rate over the coming years. This is because of the stimulated demand by the motor car producers as a result of their requirement to comply with the standards of fuel effectiveness. Also, these plastics have the potential to make the vehicle lighter, which in turn decreases the consumption of fuel and thereby less discharge of greenhouse gases. Moreover, in accordance with the High-performance plastics market report, the remarkable flame constraint and corrosion resilience capabilities of these plastics enable their usage in interior applications. On the other edge of the spectrum, the Aviation segment accounted for the second-largest share in the market. The excessive application of composites in aircraft structure is one of the most important drivers supplementing the High-performance plastics market share.
Regional Drivers:
Based on the regional coverage, The European nation captured the highest share, further accompanied by Asia-Pacific, North America, and the Rest of the World. The strategic governmental policies & norms and escalating demand from the transportation industry are energizing the High-performance plastics market size. Further, several leading economies such as France and Germany account for the largest consumption of these plastics because of the prevalence of major automotive and aircraft manufacturers. Additionally, the North American region is predicted to expand at a faster compound annual growth rate in the coming years. This is because of the aggravating implementation by automotive players and the fuelling demand by aircraft producers.
High Performance Plastics Market Segmentation:
Segmentation by Type
· Polyphenylene sulphide (PPS, PSU, PES, PPSU)
· Polyketones (PEEK, PEK, PEKK, AKP)
· Fluoropolymers (PTFE, PVDF, FEP, ECTFE, Fluoroleastomers)
· Thermoplastics Polyimides (PI, PAI, PEI)
· High Performance Polyamides (PPA, PA 9T)
Segmentation by End-Use
· • Automotive (Interior & Exterior)
· • Aviation (Interior & Exterior)
· • Railways
· • Marine
Segmentation by Region:
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· North America
o United States of America
o Canada
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
About GMI Research
The market research and consulting enterprise proffers business perception and market research reports for various industries, including small, medium enterprises as well as large companies. The research team of GMI organisation and industry experts carry out market intelligence studies to certify and ensure that all material and factual information passes to extensive range of sectors which include Technology, FMCG, Healthcare, and Energy. The expertise team accumulates all the required information about the industry applying internal as well as external databases. The prime concentration of our team is to acknowledge clients with all the prospective circumstances and difficulties faced by different industrial verticals. Also, our by fits and starts support through vital and consultative services assist clients grasp a directorial and legislative decision. The research organisation got spotlighted in the list of Silicon Magazine as one of the most foremost market.
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